Justice Neil Gorsuch, a Trump appointee, has questions about both major questions and nondelegation. He is asking Sauer to provide limits on the broadest reading of the administration’s arguments in favour of tariffs. The questioning came early on in a session likely to last more than two hours, and it didn’t give a clear indication of how the court will rule. The justices may have equally tough questions when the tariff challengers make their case in the second half of the argument. Adjusted earnings totalled $1.17 per share adj., falling short of a $1.52 per share forecast from LSEG.
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The Canadian government is set to launch special initiatives to attract top international researchers and H-1B visa holders, while slashing the number of foreign students it plans to bring into the country each year. Traders slashed odds that the Supreme Court will uphold President Donald Trump’s aggressive tariffs after justices on Wednesday signalled doubts about the legality of the administration’s sweeping trade powers. Accurate information on 100,000+ stocks and funds, including all the companies in the S&P500 index. Sauer agreed that another, very different president would have the authority to declare climate change an emergency and impose tariffs to deal with it.
Earnings live: Snap stock soars, DoorDash and Duolingo plunge
- JPMorgan Chase & Co.’s super-rich clients are bolstering investments in sports teams as rising values increasingly attract capital from institutional firms and they mature as an asset class.
- On Kalshi, contracts tied to whether the court would rule in favour of Trump’s tariffs slipped to around 30% from nearly 50% before Wednesday’s hearing.
- Advanced Micro Devices Inc. failed to impress investors with its revenue outlook, halting a blistering run-up in its shares this year and adding to the concerns over an AI-fueled bubble.
- Unionised Starbucks baristas are preparing to go on strike next week and disrupt one of the coffee chain’s busiest days — aiming to secure a contract after years of sporadic and unsuccessful talks.
- The hope is to use the technology as an interim solution until Apple’s own models are powerful enough.
OpenAI alone has committed to spending more than $1.4 trillion on AI infrastructure, even though the company remains unprofitable. US comparable-store sales, which reflect the results of established locations, increased 2.4% in the third quarter, higher than the average of analyst estimates, with the company attributing the rise mostly to higher per-visit spending. The company posted a profit of 38 cents per share adj., while analysts polled by LSEG expected earnings of 42 cents per share. Pinterest shares plummeted 20% on Wednesday after lacklustre third-quarter earnings as advertising took a hit from larger retailers dealing with tariffs. McDonald’s Corp reported faster-than-expected US sales growth last quarter as diners prioritised cheap fast food and pulled back from more premium meals at fast-casual chains.
Robinhood earnings top forecasts as crypto revenue jumps 300%
After setting a series of record highs through the year, market bellwether Bitcoin has tumbled more than 20% in recent weeks, triggering concerns over a new bear market. The crypto lending sector continued its rebound through the third quarter, with the amount of loans delivered setting a fresh record just as digital-asset prices were soaring to all-time highs. Bonds fell after data showed US services activity expanded in October at the fastest pace in eight months on a swift upturn in the growth of new orders. Meantime, employment at US companies increased, signalling some stabilisation in the job market. Advanced Micro Devices Inc. failed to impress investors with its revenue outlook, halting a blistering run-up in its shares this year and adding to the concerns over an AI-fueled bubble.
US Stock Market LIVE Updates: Justices question legality of Trump’s tariffs at Supreme Court
Treasury Secretary Scott Bessent showed up for the arguments, as promised, along with Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer. The trio have largely been responsible for negotiating various trade deals with other nations. The company raised the funding over the course of a seed round in 2024 and a Series A in 2025. Zhu Ventures, Reevo co-founder David Zhu’s venture capital firm, led the $10 million seed deal, and Khosla Ventures and Kleiner Perkins led the $70 million Series A investment. Artificial intelligence startup Reevo Inc. has raised $80 million from investors including Khosla Ventures and Kleiner Perkins, the company plans to announce Wednesday — financing that brings the startup’s valuation to $500 million.
US Stock Market LIVE Updates: Oil declines in listless trade with supply outlook in focus
US President Donald Trump conceded that the Democrats’ electoral sweep up and down the ballot across the country on Tuesday night spelled bad news for his Republican Party. Alphabet Inc’s Google and cybersecurity company Wiz Inc. cleared a key hurdle to closing their $32 billion deal, with the US government saying it would wrap up its investigation of the acquisition. The government also said it would launch an accelerated pathway for H-1B visa holders in the coming months. JPMorgan Chase & Co.’s super-rich clients are bolstering investments in sports teams as rising values increasingly attract capital from institutional firms and they mature as an asset class. While helping to temper concerns of a faster deterioration in the job market, the modest payroll increase last month is consistent with a general softening in labour demand.
That’s the company’s popular holiday-themed Red Cup Day, which has been a previous union target. The labour actions could expand if there isn’t progress toward finalising a contract and resolving legal disputes, said the union, which accused Starbucks of refusing to fairly negotiate. Starbucks Workers United — representing employees at about 550 of the chain’s roughly 10,000 company-run US stores — said members voted to give union leadership the ability to call for a work stoppage at any time if demands aren’t met. While Wall Street didn’t see a buying stampede, equities were able to bounce after a slide that underscored worries over how stretched the market has become and how sensitive it is to unfavourable news.
- Zhu Ventures, Reevo co-founder David Zhu’s venture capital firm, led the $10 million seed deal, and Khosla Ventures and Kleiner Perkins led the $70 million Series A investment.
- Treasuries fell after the US government signalled that larger auction sizes are on the horizon, while signs of economic resilience hurt the odds of a Federal Reserve interest-rate cut in December.
- “The court 9-0 rejected the argument” that the absence of the word tariff doomed Ford’s action, Kavanaugh said.
- Alphabet Inc’s Google and cybersecurity company Wiz Inc. cleared a key hurdle to closing their $32 billion deal, with the US government saying it would wrap up its investigation of the acquisition.
- Transitions into serious delinquency were most elevated for consumers in their 20s and 30s, the report showed.
Traders should take cover from a protracted selloff in the dollar that could mirror the boom-and-bust cycle What Is Ethereum of the Internet bubble once the drivers that are supporting the currency turn into headwinds, according to RBC Capital Markets.
US Stock Market LIVE Updates: Justice Neil Gorsuch worries about giving limitless power to presidents
Attorney Neal Katyal, in response to a question from Thomas, distinguishes between embargos, allowed by the law, and tariffs, which he says are not. “Last night, it was, you know, not expected to be a victory, it was very Democrat areas, but I don’t think it was good for Republicans,” Trump said during a breakfast meeting with GOP senators at the White House on Wednesday morning. “The court 9-0 rejected the argument” that the absence of the word tariff doomed Ford’s action, Kavanaugh said. Unionised Starbucks baristas are preparing to go on strike next week and disrupt one of the coffee chain’s busiest days — aiming to secure a contract after years of sporadic and unsuccessful talks. The prospect of cuts to long-maturity auction sizes has been a minority view on Wall Street over the past year. “The expertise of these researchers will help advance our global competitiveness and contribute to the economy of the future,” the budget document said.
Analyst Report: Sabre Corporation
A similar contract on platform Polymarket dropped to about 30% from more than 40% earlier in the week, reflecting traders’ growing belief that the justices may strike down the policy. But after testing Gemini, OpenAI’s ChatGPT and Anthropic’s Claude, Apple zeroed in on Google earlier this year, Bloomberg reported at the time. The hope is to use the technology as an interim solution until Apple’s own models are powerful enough. At a time when every dip in stocks is perceived as an opportunity, buyers emerged after a brief pullback led by some of the biggest winners of the artificial-intelligence boom.
Adjusted gross margins fell 50 basis points from a year ago to 62.7%, which Axon attributed to tariff impacts. Treasuries fell after the US government signalled that larger auction sizes are on the horizon, while signs of economic resilience hurt the odds of a Federal Reserve interest-rate cut in December. After the companies first announced their tie-up in March, the Justice Department opened up an in-depth probe of the deal, Bloomberg reported in June. The decision to close the review, pursuant to so-called early termination, is dated Oct. 24 on the website of the Federal Trade Commission.
Private-sector payrolls increased by 42,000 after two straight months of declines. The ADP report is one of the few monthly snapshots of the labour market, as the longest government shutdown in US history delays the release of official economic data. Oil extended a run of lackluster trading as investors assessed mixed US inventory data and a persistent outlook for oversupply. West Texas Intermediate fell 1.4% to trade below $60, a key level that can trigger accelerated buying when breached, with prices undulating in a band of about $2 since early last week. There has been mounting scrutiny in recent months on soaring valuations for AI companies as well as the accelerating spending spree from tech firms on data centers and chips to support artificial intelligence development.
