Bloomberg News

Until this week, Nvidia's retail investors were some of the luckiest people in the markets, enjoying nearly 300% gains over the last three years. That has come to a halt with the disclosure that Huang had an affair with a suspected Chinese spy and two others, leading to his ouster from the company.

Recent economic activity and labor market conditions have been solid, while price pressures remained persistent, Jefferson said.

The cruise ship, which still had about 129 passengers and an unspecified number of crew members aboard, began to sink before tipping over, sending people into the Mississippi River.

Excluding food and energy, wholesale prices climbed 5% from a year ago and 0.3% from September.

MSCI's emerging market equity index is up more than 3% this week, with South Korea and Taiwan's AI-dominated benchmark stock gauges gaining.

Tencent has been among the most aggressive AI spenders.

Bitcoin's weakness reflects a convergence of macro pressures on crypto in recent weeks. Elevated oil prices and high inflation have reinforced expectations for further Federal Reserve rate increases.

In the wake of Huang's shocking disclosure in a memo to Nvidia employees on Sunday, Wall Street is wondering if the biggest and most important artificial intelligence chipmaker will be able to keep its leader and public face.

The Claude chatbot maker and its co-founders are seeking to raise as much as $90.4 billion in the IPO and a private placement, its filings show. Taken together, the offerings would be bigger than SpaceX's IPO, making it the biggest listing of all time.

PepsiCo plans to cut about 1000 jobs in North America to simplify its structure and improve decision making, says CEO Ram Krishnan.

House Republicans blocked the impeachment of Defense Secretary Pete Hegseth over US military actions, sending the measure to the Judiciary Committee.

The consumer price index, excluding food and energy, rose 0.3% from a month earlier, according to Bureau of Labor Statistics data. Overall prices climbed 0.4%.

Fed officials left interest rates unchanged at their Oct. 27-28 meeting after raising them by a quarter percentage point in September. That was the first rate hike since 2023 as policymakers seek to cool inflation that has been above their 2% target for more than five years.

The technology industry's reliance on foreign workers has long been a flashpoint in the debate over immigration. Since President Donald Trump's return to office last year, the administration has seized on those concerns and pressed tech giants to do more to train and hire US workers.

Anthropic said Fable 5.2, set to be released Monday, can tackle more difficult software engineering work, take on more hardware-related tasks like controlling robots and handle long-running projects.

Describing the economy as strong and the labor market as stable, Waller said inflation remains too high. He then hinged his policy prescription on consumer price inflation data for October that the Bureau of Labor Statistics will release later Tuesday morning.

Looking beyond the AI trade, money managers say they're seeing a chance to profit from rock-bottom valuations and high dividend yields in emerging markets, which by one metric are the cheapest since the global financial crisis 18 years ago.

The offering is expected to formally begin marketing as soon as early Tuesday ahead of pricing and the Nasdaq debut of its shares before the US Thanksgiving holiday, Bloomberg has reported.

The US Food and Drug Administration will now require GLP-1 drugs including Novo's Wegovy and Ozempic and Lilly's Mounjaro, Zepbound and Foundayo to carry warnings that they may increase the risk of non-arteritic anterior ischemic optic neuropathy, or NAION.

Nvidia shares slid as much as 8.8% on Monday after Huang disclosed the romantic relationship in a memo to employees.