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.

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. Prime Minister Mark Carney’s first budget unveiled a plan to attract international talent, earmarking C$1.7 billion ($1.2 billion) to recruit more than 1,000 highly skilled researchers. Gold rebounded as investors weighed the outlook for the Federal Reserve’s interest rate path following data that showed some stabilisation in the job market.

US Stock Market LIVE Updates: ‘I don’t think it was good for Republicans,’ Trump says following election night

The figures suggest US households — especially younger ones — continue to grapple with financial challenges resulting from high interest rates, weak hiring trends and ongoing inflation. Transitions into serious delinquency were most elevated for consumers in their 20s and 30s, the report showed. The iPhone maker is banking on Google’s help to rebuild Siri’s underlying technology, setting the stage for a new slate of features next year. The Google model’s 1.2 trillion parameters — a measure of the AI software’s complexity — would dwarf the level of Apple’s current models. Equities rebounded, with the S&P 500 up almost 1% following a slide that underscored worries over how stretched the market has become and how sensitive it is to unfavorable news. Attorney Neal Katyal, in response to a question from Thomas, distinguishes between embargos, allowed by the law, and tariffs, which he says are not.

US Stock Market LIVE Updates: Oil declines in listless trade with supply outlook in focus

The court unanimously ruled for President Gerald Ford in a case about the imposition of tariffs on oil imports, based on a different statute that also doesn’t mention the word tariffs. 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. Treasury Secretary Scott Bessent showed up for the arguments, as promised, along with Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer.

Robinhood earnings top forecasts as crypto revenue jumps 300%

Scotts What Is Cryptocurrency Miracle-Gro Company (SMG) reported fourth quarter earnings on Wednesday, showing a decrease in net sales but an overall narrow loss. Scotts Miracle-Gro Company CEO and chairman, Jim Hagedorn, joins Market Domination host Josh Lipton to explain how the lawn and garden industry is “recession-resistant” and how the company is leveraging artificial intelligence (AI). To watch more expert insights and analysis on the latest market action, check out more Market Domination. Overall comparable sales, which add in international markets, were in line with expectations, while adjusted earnings per share fell short of the average of estimates compiled by Bloomberg.

AppLovin stock rises on earnings beat, guidance

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. 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.

“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 main contender to Nvidia Corp. in the AI chip market said Tuesday that it expects roughly $9.6 billion in fourth-quarter revenue. While analysts had estimated $9.2 billion on average, some projections ranged as high as $9.9 billion. Axon Enterprise’s stock plummeted 12% after the Taser maker missed Wall Street’s third-quarter profit expectations as it grapples with tariff constraints.

• Transitions into serious delinquency were most elevated for consumers in their 20s and 30s, the report showed.
• The Google model’s 1.2 trillion parameters — a measure of the AI software’s complexity — would dwarf the level of Apple’s current models.
• Private-sector payrolls increased by 42,000 after two straight months of declines.
• Prime Minister Mark Carney’s first budget unveiled a plan to attract international talent, earmarking C$1.7 billion ($1.2 billion) to recruit more than 1,000 highly skilled researchers.
• 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 timing of the recovery is reminiscent of when activity last peaked in the final quarter of 2021, just before a raft of scandals and bankruptcies caused a crypto market crash that nearly wiped out many of the most prominent lenders. 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.

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.

• 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.
• 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.
• 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.
• That’s the company’s popular holiday-themed Red Cup Day, which has been a previous union target.

US Stock Market LIVE Updates: Apple plans to use 1.2 trillion parameter Google Gemini model to run new Siri

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. OpenAI Chief Financial Officer Sarah Friar suggested the market is overly focused on anxiety about a possible bubble in the artificial intelligence sector and should muster more “exuberance” about the technology’s potential.

The decision to close the review, pursuant to so-called early termination, is dated Oct. 24 on the website of the Federal Trade Commission. 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 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. 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.