Today's Top Stories
6 storiesBusiness
Fresh Drone and Missile Strikes Hit Saudi Arabia
Saudi Arabia reported new drone and cruise missile attacks following a deadly weekend strike on Riyadh's King Khalid International Airport that killed at least 12 people. The Federal Aviation Administration warned U.S. airlines to exercise caution in or around Saudi airspace due to safety and navigation risks.
Bloomberg ↗
Deals
Starbucks Denies Chipotle Acquisition Talks
Starbucks explicitly denied rumors that it is considering a mega-deal acquisition of Chipotle Mexican Grill, calling off speculation of the largest restaurant takeover ever. Chipotle shares dropped more than 2% premarket following the denial, while Starbucks shares rose over 1%.
CNBC ↗
Deals
IonQ to Acquire Elisity for Up to $1.3 Billion
Quantum-computing company IonQ announced it is buying privately held cybersecurity firm Elisity for up to $1.3 billion to expand its software and security footprint. IonQ shares fell more than 2% following the transaction announcement.
Wall Street Journal ↗
Tech
IMF Warns of AI 'Slow-Moving Tsunami' on Global Labor Markets
International Monetary Fund Managing Director Kristalina Georgieva warned that artificial intelligence is hitting the global labor market like a tsunami, placing young graduates at the highest risk of job displacement. Policymakers at a World Bank jobs council panel urged governments to adopt crisis-era employment support measures permanently.
CNBC ↗Deals
Steris to Acquire Xodus Medical for $2.1 Billion
Dublin-based medical and pharmaceutical product provider Steris agreed to acquire Xodus Medical for $2.1 billion to expand its portfolio of hospital and surgical services.
Wall Street Journal ↗
Business
Rep. Ilhan Omar's Home Raided in Federal Immigration Investigation
Federal authorities from Homeland Security Investigations executed a search warrant at the Washington, D.C.-area home of Democratic Representative Ilhan Omar as part of a criminal fraud probe concerning immigration paperwork. The Department of Justice confirmed the raid ahead of the November midterm elections.
CNBC ↗Markets at a Glance
vs. previous closeLevels as of 9:31 AM EDT. Source: Yahoo Finance; may be delayed.
The Market Today
Stock futures and major U.S. indices were mixed and little changed to start the week as investors digested geopolitical tensions, a reported "energy ceasefire," and upcoming corporate earnings. WTI crude oil advanced about 1.8% to $93.52 a barrel following drone and missile attacks in Saudi Arabia and reports on Russia-Ukraine energy sites. Meanwhile, Treasury markets were closed for a bank holiday.
Your Watchlist
vs. previous close- Apple (AAPL): Shares were trading up 0.40% at $338.00 during Monday's session.
- Microsoft (MSFT): Shares moved up 0.49% to $537.71 today, amid reports that the company is aiming to reduce its reliance on Nvidia chips by relying more on homegrown AI processors. Google News
- Nvidia (NVDA): Shares fell 0.34% to $228.50 during the session.
- Amazon (AMZN): Shares were up 0.06% at $262.57 today, following reports that the tech giant is in talks to buy AI startup Decart for roughly $7 billion. Google News
- Alphabet (GOOGL): Shares traded higher by 0.20% at $352.35.
- Meta (META): Shares outperformed the broader market today, rising 1.43% to $728.92.
- Tesla (TSLA): Shares edged down 0.16% to $382.10 during trading.
- JPMorgan Chase (JPM): Shares gained 0.79% to reach $335.63 ahead of the upcoming bank earnings season. Google News
- Exxon Mobil (XOM): Shares climbed 1.23% to $171.01 alongside a broader rise in crude oil prices.
Today's Calendar
Monday, October 12 · times ETEconomic data & events
Earnings
No major companies reporting.
High-impact release. Earnings shown for large companies ($10B+) and your watchlist. Sources: Forex Factory, Nasdaq. Schedules can change.
Sectors & Movers
- Salesforce (CRM): Shares rose 4% after Bank of America double-upgraded the stock to buy from underperform, arguing that artificial intelligence will deepen enterprise software dependence.
- First Solar (FSLR): Shares advanced 2.4% following an upgrade to buy from Truist, which cited robust long-term solar demand and pricing power.
- Biogen (BIIB): Shares gained 2% after JPMorgan upgraded the biotechnology firm to overweight, pointing to upcoming clinical catalysts in 2027.
- Micron Technology (MU): Shares dropped 2% premarket as investors weighed rising competition from Chinese memory chipmaker CXMT.
Macro & Policy
- Central Banks & Rates: Citi Research economists noted that U.S. economic activity outside of AI is slowing, suggesting that sticky inflation could keep the Federal Reserve on hold at upcoming meetings.
- Geopolitics & Energy: Middle East security risks escalated following deadly airport strikes in Riyadh and continuing regional drone attacks, adding a risk premium to oil markets even as President Trump touted a Russian-Ukrainian energy truce.
What to Watch
- Third-Quarter Earnings Kickoff: Major U.S. financial institutions—including Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley, and Wells Fargo—are set to report earnings this week, providing a crucial check on corporate health and borrowing costs.
- September CPI Data: Investors are eyeing the upcoming U.S. consumer price index release for clues on inflation trends and future Federal Reserve rate paths.
- Middle East and Eastern European Developments: Ongoing monitoring of flight safety warnings in Saudi Arabia and geopolitical fallout from reported energy truce violations in Ukraine.
Sources
36 articles- CNBCFAA warns U.S. airlines of safety risks over Saudi Arabia after attacks
- Financial TimesDiesel prices slip after Trump claims ‘energy ceasefire’ in Ukraine war
- CNBCStarbucks says it is not buying Chipotle after takeover speculation
- CNBCStock futures are little changed to start the week: Live updates
- MarketWatch‘The prospectus looks impressive’: My financial adviser wants me to invest $350,000 in a UAE data center. Is this risky?
- MarketWatchThis five-star money manager shares three stock picks, including one betting on dying American malls
- WSJSteris to Acquire Xodus Medical for $2.1 Billion
- CNBCRep. Ilhan Omar's home raided by DHS in fraud probe of immigration paperwork: Report
- BloombergGramercy-Backed Firm Fends Off Ouster From $36 Billion Lawsuit
- BloombergSaudi Arabia Faces Fresh Attacks
- BloombergOil Swings on Russia-Ukraine Progress, Saudi Attacks
- BloombergCiti Economist Sees Rates Restrictive for Real Economy
- WSJU.S. Futures Mixed, Oil Rises After Russia Hits Ukraine Energy Sites
- CNBCStocks making the biggest moves premarket: Salesforce, First Solar, Biogen & more
- MarketWatch‘I feel like a loser’: My stock portfolio is swinging wildly. Is it finally time to worry?
- WSJRising Sovereign Bond Yields’ Impact on European Banks Remains Contained
- WSJStronger Swiss Franc Could Put SNB in a Bind
- MarketWatchMired in their worst losing streak in years, small caps could be the best way for investors to play crucial CPI data
- WSJCFOs’ Key Partners For AI Transformation, According to BCG
- Financial TimesPrivate equity puts string of UK high street names up for sale
- WSJQuantum-Computing Company IonQ to Buy Cybersecurity Firm for Up to $1.3 Billion
- WSJTrump’s Russian-Diesel Move Draws Pushback, Skepticism
- WSJBasic Materials Roundup: Market Talk
- Financial TimesFirstFT: Diesel prices slip after Trump announces ‘energy ceasefire’
- CNBCWorld Bank jobs council urges 'crisis-era' employment support measures as IMF warns of AI ‘tsunami’
- Financial TimesIs the US economy as narrow as its stock market?
- CNBCMicrosoft to rely more on homegrown AI chips, reducing dependence on Nvidia
- ReutersMicrosoft president says milk faces more regulation than AI
- BloombergTikTok’s Chew and Microsoft’s Althoff Warn About Runaway AI Hype
- ReutersAmazon in talks to buy AI startup Decart for around $7 billion, WSJ reports
- Barron'sSandisk, IREN, SK Hynix, Amazon, and More Stocks That Explain Today’s Market
- Barron'sAmazon in Talks to Buy Software Start-Up Decart AI: WSJ
- MarketWatchTSLA Stock Price | Tesla Inc. Stock Quote (U.S.: Nasdaq)
- Barron'sHow SpaceX’s Spectrum Purchase Brings It Closer to a Tesla Merger
- Barron'sWhy Tesla Renamed ‘Full-Self Driving' in Europe
- MarketWatchJPM Stock Price | JPMorgan Chase & Co. Stock Quote (U.S.: NYSE)
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.