AI Trade Roars Back as Broadcom Surges 11% (And Retail Earnings Show Mixed Signals)
Retail earnings showed extreme inconsistency as Kohl's soared 22% and Abercrombie surged 18% while Dick's closed stores, signaling consumers are highly selective heading into Black Friday. The AI trade rebounded with Broadcom up 11% on its Google chip partnership and Nasdaq posting its best day since May, though Nvidia slipped 4% on reports Meta may switch suppliers by 2027, showing AI leadership is evolving beyond Nvidia's dominance.
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8:10
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8:10
Google Passes Microsoft as Gemini 3 Dominates AI (And Stocks Bounce on Rate Cut Hope)
Stocks wrapped a brutal week with the Nasdaq down 2.7% for its third straight negative week, but bounced Friday as NY Fed President Williams signaled rate cuts, sending December odds from 42% to 73%—though Boston Fed's Collins contradicted him over the weekend. Legal filings accuse Meta of halting 2019 research showing people who stopped using Facebook became less depressed, part of litigation from school districts and state AGs. Novo Nordisk fell 10% after its Alzheimer's trial testing semaglutide failed to meet targets despite earlier promising biomarker results. Airlines expect record 31 million Thanksgiving passengers as air traffic controllers who worked without pay during the shutdown receive $10K bonuses. Universal's "Wicked: For Good" opened with $150 million, the largest Broadway adaptation debut ever and second-biggest 2025 opening. Google passed Microsoft to become third-most valuable U.S. company as Gemini 3 topped ChatGPT in benchmarks, with Alphabet up 77% in six months despite antitrust concerns. Edmunds reports average new car payments hit $766/month, up 3.2% as high prices meet high rates. Americans now hold smartphones for 29 months versus 22 in 2016, worrying analysts about slowing consumer spending in the device ecosystem.
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9:20
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9:20
Bitcoin Records Its Worst Drop Since 2022’s Crash (And September Jobs Report Sends Mixed Signals)
Stocks plunged Thursday despite Nvidia delivering blowout earnings, with the Nasdaq falling 2.15% and volatility spiking to April highs. Nvidia posted $57 billion in revenue and strong guidance—but shares still sank, signaling investor anxiety over AI valuations. The September jobs report showed 119,000 new jobs and rising unemployment at 4.4%, a mixed signal for the Fed as it considers future rate cuts. Bitcoin fell 3.4%, marking a 23% monthly drop—its worst since 2022—as ETF outflows and leveraged liquidations rattled crypto markets. Coinbase, MicroStrategy, and Marathon Digital slumped alongside the broader risk-off sentiment. Walmart jumped 6.5% after raising guidance and announcing a Nasdaq move, while Topgolf Callaway sold a majority stake in its entertainment business for $1.1 billion to refocus on golf equipment. And Waymo announced plans to test its robotaxis in Minneapolis, Tampa, and New Orleans, aiming for full driverless rollout next year.
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5:34
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5:34
Nvidia Crushes Earnings as Blackwell Sales Go "Off the Charts" (And Walmart Thrives While Rivals Struggle)
Walmart crushed earnings and raised outlook on e-commerce strength, winning customers across all incomes while competitors cut guidance. The retailer is also reportedly acquiring R&A Data to combat marketplace counterfeits. Nvidia delivered $57 billion in revenue with CEO Jensen Huang saying Blackwell sales are "off the charts," validating the AI investment thesis and sending shares up 5%. Fed minutes revealed deep division on rate cuts as Trump attacked Powell saying he'd "love to fire his ass," with incomplete labor data complicating December decisions. Sotheby's sold Klimt's "Portrait of Elisabeth Lederer" for $236.4 million, the most expensive 20th-century artwork ever auctioned. Dell delayed Project Maverick—replacing 4,700 applications and 70,000 servers—by three months. Bezos returned as co-CEO of $6.2 billion AI startup Project Prometheus building "world models" for robotics. Home buyers face strongest market since 2013 but Redfin notes affordability remains the binding constraint as mortgage rates rise.
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7:41
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7:41
Nvidia Earnings Could Make or Break AI Rally (And Bitcoin Crashes Below $90K)
Lowe's beat quarterly expectations and saw shares rise 6%, but still lowered full-year profit guidance citing economic uncertainty, following rival Home Depot's third straight earnings miss. Nvidia faces a critical earnings test as billionaire investors like Peter Thiel and SoftBank offload shares, with the report seen as a litmus test for the entire AI rally's sustainability. Bitcoin tumbled below $90,000, down nearly 30% from its October peak, as ETF outflows spike and expectations for fewer Fed rate cuts drain liquidity from risk assets. Nvidia and Microsoft announced a massive $15 billion investment in Anthropic, but both stocks fell around 2.7% as investors question when AI spending will generate actual profits. Adobe acquired SEO software provider Semrush for $1.9 billion to help marketers optimize their presence in AI platforms like ChatGPT and Perplexity, not just traditional search engines. Cloudflare suffered a major outage that knocked X, ChatGPT, and numerous websites offline, highlighting dangerous infrastructure concentration. Stocks fell for the fourth consecutive day with the Dow dropping 500 points as a crisis of confidence grows over AI profitability and whether massive tech spending will ever justify returns.
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Money moves fast—stay ahead of it. Welcome to The Business Show, where we break down the biggest financial stories, market trends, and business shake-ups in a way that’s fast, fun, and easy to understand. Hosted by Andrew Giancola, this podcast cuts through the noise to bring you the most important updates on stocks, crypto, major business deals, economic trends, and the future of money—without the jargon.
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