Today's Top Stories
5 stories
Policy
New York Fed Says Inflation on Everyday Items Was Entirely Driven by Tariffs
A research paper from the New York Fed revealed that the cost of 67 categories of everyday consumer goods was 2.9 percentage points higher as of February due to President Trump's tariffs, which fully accounted for price increases that otherwise would have declined. The study found that roughly 26% of last year's tariff hikes trickled into consumer price tags, with knock-on effects persisting into 2027.
CNBC ↗
Policy
Trump Discloses August Trades Including Meta Stock and SpaceX Debt Purchase
President Donald Trump's August financial disclosure revealed over 500 transactions totaling up to $273.3 million, including a purchase of up to $25 million in Meta stock and a $1 million to $5 million investment in SpaceX senior unsecured notes. The SpaceX debt acquisition occurred just two days before Trump signed a national space transportation policy aimed at expanding commercial launch capabilities.
CNBC ↗
Energy
Devon Energy Sells Eagle Ford Assets to Crescent Energy for $4.2 Billion
Devon Energy agreed to sell its drilling portfolio in South Texas's Eagle Ford shale basin to KKR-backed Crescent Energy for approximately $4.2 billion. The major upstream transaction highlights ongoing portfolio reshaping and consolidation within the domestic oil and gas sector.
Wall Street Journal ↗
Deals
Skydance Executives Detail Integration Strategy for Paramount and Warner Bros
Days after Paramount's acquisition of Warner Bros. Discovery officially closed, Skydance co-CEOs David Ellison and Ynon Kreiz outlined plans to capture $6 billion in cost synergies and combine streaming services Paramount+ and HBO Max. The newly minted media giant must navigate $80 billion in debt alongside strict theatrical release quotas mandated by a state antitrust settlement.
CNBC ↗
Deals
Viatris to Acquire Pacira BioSciences for $1.65 Billion
Healthcare company Viatris announced an agreement to buy pain-drug maker Pacira BioSciences for $1.65 billion to expand its specialized medicines portfolio. The transaction adds established pharmaceutical assets to Viatris's growing medical lineup.
Wall Street Journal ↗Markets at a Glance
vs. previous closeLevels as of 9:31 AM EDT. Source: Yahoo Finance; may be delayed.
The Market Today
U.S. stocks and futures pulled back across the board on Thursday, pressured by rising Treasury yields, higher oil prices, and a fresh artificial-intelligence wobble. The S&P 500 declined 0.35% to 7,774.68, the Nasdaq slipped 0.22% to 27,538.69, and the Dow Jones dropped 0.36% to 50,994.39, while small caps underperformed with the Russell 2000 falling 1.31%. Treasury yields rose further, with the 10-Year note adding 2 basis points to 5.30%, while WTI crude jumped 3.85% to $91.68 a barrel amid supply concerns and Middle East tensions.
Your Watchlist
vs. previous close- Apple (AAPL): Shares traded up 1.07% to $337.19. The New York Times
- Microsoft (MSFT): Shares gained 0.14% to $530.03 following details on its new Nvidia-powered Surface Laptop Ultra designed to rival Apple's MacBooks, alongside an EU-backed probe launched in Italy into its gaming units. Reuters
- Nvidia (NVDA): Shares fell 1.89% to $234.72 amid reports that Apollo and banks are discussing financing for SpaceX's potential $40 billion GPU purchase, and as Microsoft detailed its new RTX Spark chip laptop in collaboration with the company. CNBC
- Amazon (AMZN): Shares rose 1.34% to $259.72 after overhauling its devices lineup by dropping its budget Fire tablets in favor of higher-priced Alexa models starting at $230, even as the company enacted fresh job cuts primarily in its retail division. CNBC
- Alphabet (GOOGL): Shares advanced 1.67% to $353.50 following a joint initiative with Unity to launch a prompt-based video game creation platform and its participation in a $1.8 billion AI biology data push alongside the U.S. government and the Zuckerberg-backed Biohub. Reuters
- Meta (META): Shares dropped 2.38% to $721.31 after a disclosure showed President Trump bought up to $25 million in Meta stock in August, while AI startup Manus raised $500 million following its breakup with the tech giant. CNBC
- Tesla (TSLA): Shares fell 1.67% to $374.32 as discussions continued around long-awaited consumer deliveries of its high-end Roadster model. Wall Street Journal
- JPMorgan Chase (JPM): Shares eased 0.48% to $327.99 alongside broader financial sector headwinds. Bloomberg
- Exxon Mobil (XOM): Shares dipped 0.26% to $164.05 following SEC warnings issued to activist investors over recent climate pushbacks at the oil major. Bloomberg
Today's Calendar
Thursday, October 8 · times ETEconomic data & events
Earnings
High-impact release. Earnings shown for large companies ($10B+) and your watchlist. Sources: Forex Factory, Nasdaq. Schedules can change.
Sectors & Movers
- Wolfspeed: Shares surged more than 15% after the chipmaker secured a conditional $1.5 billion loan from the Defense Department, locking in a 30-year financing commitment to support domestic manufacturing in exchange for warrants.
- Taiwan Semiconductor Manufacturing (TSMC): The contract chipmaker reported September revenue up 54.6% year-over-year, lifting third-quarter revenue to $16.03 billion above expectations, though its shares dipped roughly 1% in early trading alongside the broader market.
- Levi Strauss: Shares fell nearly 3% after missing third-quarter revenue expectations at $1.61 billion due to slowing direct-to-consumer sales in the U.S. and Europe, alongside a cautious forward outlook.
Macro & Policy
- Sovereign Debt and Central Bank Watch: European officials are preparing to urge France to pass its 2027 budget to calm a sudden selloff in French bonds that has stirred memories of the 2009–2015 debt crisis. Meanwhile, analysts are evaluating potential European Central Bank interventions such as the Transmission Protection Instrument (TPI) to manage the regional debt stress.
- China Real Estate Outlook: S&P Global Ratings projected that China's residential real estate market could hit a bottom by the third quarter of 2028, aided by aggressive government policies aimed at reducing excess housing supply and destocking developer inventory.
What to Watch
- Unemployment Claims: Weekly jobless claims data is scheduled for release at 8:30 AM ET, with economists forecasting 200,000 claims compared to the previous reading of 197,000.
- Fed Commentary: FOMC Member Waller is scheduled to speak at 4:30 AM ET.
- Corporate Earnings: Pepsico (PEP) reports earnings before the market open, with consensus expectations looking for an EPS of $2.29.
Sources
51 articles- WSJDevon Energy Sells Eagle Ford Assets to Crescent Energy for $4.2 Billion
- CNBCSkydance's David Ellison tells CNBC combined company is 'positioned to win in every single vertical'
- CNBCInflation on many everyday items was entirely due to tariffs, NY Fed says
- WSJOil Is Back In, Climate Is Out at a Marquee Energy Conference
- CNBCAmazon overhauls aging devices lineup with higher priced Alexa tablet, dumping the budget Fire
- BloombergWhat’s the TPI? How ECB Can Respond to French Bond Turmoil
- WSJWhy Ford Hired a Head of Nomenclature—And You Might Want One, Too
- CNBCTrump bought up to $25 million in Meta and millions in SpaceX debt in August
- BloombergMorgan Stanley Bond Veteran Is Bullish for First Time in Decade
- BloombergUK’s MFS Owner Says He’s Been Harassed by Lawsuits After $3 Billion Collapse
- BloombergBlackRock’s Rieder on Yield Curve, Federal Reserve Rate Hikes
- Financial TimesThis US Senate race is putting Trump’s record with blue-collar voters to the test
- WSJViatris to Buy Pacira BioSciences for $1.65 Billion
- MarketWatchWho will benefit more from AI agents when it comes to spending – companies or you?
- MarketWatchAfter a 33% gain in the first half, this fund manager grew tired of the AI trade. Here’s where he’s looking now.
- Financial TimesOil prices jump on tanker attacks and slowing flows through Strait of Hormuz
- WSJStock Futures Fall on Higher Oil Prices, AI Pullback
- MarketWatchRising yields are quietly crashing the stock market’s earlier winners of 2026
- MarketWatchGLP-1s could offer unexpected relief from back and knee pain, but doctors urge caution
- CNBCStocks making the biggest moves premarket: Haemonetics, Broadcom, Lululemon, Palantir, Wolfspeed & more
- ReutersBooms and flight disruptions in Riyadh as Saudi-Houthi war escalates - Reuters
- WSJHealth Care Roundup: Market Talk
- Financial TimesWhat is driving the global bond sell-off? You asked, we answered
- ReutersWall St futures decline as oil surge, high yields stoke inflation worries - Reuters
- ReutersIndia's TCS marginally beats second-quarter revenue view as AI demand grows - Reuters
- ReutersEuro zone ministers to tell France to pass 2027 budget to calm markets - Reuters
- WSJQ&A: Bitcoin Funds Are Expanding. HANetf’s Co-CEO Explains Why
- WSJOil Majors Cut Production in Gulf of Mexico as Hurricane Isaias Strengthens
- Financial TimesHouston start-up aims to loosen China’s grip on critical metal
- CNBCAfter a yearslong slump, China's real estate market may be set for a turnaround
- The New York TimesThe Best October Prime Day Apple Deals on AirPods, MacBooks, and More
- CNBCHere are Thursday's biggest analyst calls: Nvidia, Apple, SpaceX, Palantir, Microsoft, Generac, Netflix & more
- CNBCTony Wang on what Apple's smart home push means for investors
- ReutersItaly launches EU-backed probe into Microsoft-owned gaming companies
- CNBCMicrosoft to sell $2,599 Surface Laptop Ultra containing Nvidia AI chip
- BloombergMicrosoft Says New Laptop With Nvidia Chip Outperforms MacBooks
- CNBCApollo, banks in talks to finance SpaceX's $40 billion Nvidia GPU purchase
- Barron'sMicrosoft and Nvidia Detail PC Laptop with RTX Spark Chip and On-Device AI
- MarketWatchMicrosoft and Nvidia are teaming up on a supercharged AI laptop
- The New York TimesIt’s Prime Day (Again). Here Are the Best Deals From Amazon’s Prime Big Deal Days.
- ReutersAmazon makes fresh job cuts, mainly in retail division
- CNBCFCC to vote on auctioning 25MHz of 'prime spectrum' in move that could benefit Amazon, SpaceX
- ReutersUS government, Google join Zuckerberg-backed Biohub in $1.8 billion push for AI biology data
- BloombergGoogle, Unity Launch Platform to Create Video Games From Prompts
- APOne Tech Tip: Lake America backlash fuels interest in Google Maps alternatives
- CNBCAI startup Manus raises $500 million in first funding round since Meta breakup
- ReutersFlorida asks court to force Meta to change Facebook, Instagram for teens
- ReutersManus raises more than $500 million after Meta exit
- WSJThey Paid $50,000 and Waited Nine Years. Will Tesla’s Roadster Live Up to the Hype?
- BloombergWatch JPMorgan's Gehl on Tech & AI Fundraising, Capex, IPO
- BloombergSEC Warns Activist Investors After Climate Push at Exxon Mobil
This brief was written by AI (Google Gemini) from the articles listed above and may contain errors. It is for information only and is not investment advice. Check the original reporting before making decisions.