One long national nightmare is almost over. After eight Democrats broke...
One long national nightmare is almost over. After eight Democrats broke with their caucus and joined with Republicans on Monday night to pass a spending package that would reopen the federal government, it’s the House’s turn to vote. The chamber, which has been on recess since September, is expected to approve the package today before it heads to President Trump’s desk to be signed. Many Democrats denounced the deal for not addressing their demand that the government extend federal healthcare subsidies that are set to expire on Jan. 1. Even if the shutdown ends soon, experts say it could take weeks for air travel to get back to normal. Today is the 43rd day of the shutdown.
SoftBank sells entire Nvidia stake to fund investments in OpenAI.
The Japanese tech investor said it offloaded its entire $5.83 billion...
The Japanese tech investor said it offloaded its entire $5.83 billion stake in Nvidia in order to bankroll its AI bets—namely, the tens of billions of dollars it’s pouring into OpenAI. Earlier this year, SoftBank agreed to invest $30 billion in the ChatGPT-maker by the end of 2025, and that bet is already paying off. It said its fiscal Q2 profit more than doubled from last year, thanks to OpenAI’s ballooning valuation. The move marks the end of SoftBank’s long saga with Nvidia: In 2016, years before the most recent investment, it bought 5% of the chipmaker, but then sold it all in 2019. That stake would currently be worth $210 billion, per the Wall Street Journal.
Meta’s chief AI scientist is reportedly leaving. According...
Meta’s chief AI scientist is reportedly leaving. According to the Financial Times, Yann LeCun has told associates that he will leave the company “in the coming months” as CEO Mark Zuckerberg overhauls Meta’s AI strategy. Considered one of the “Godfathers of AI,” LeCun joined Meta in 2013 but has reportedly seen his longer-term research deprioritized in favor of launching new AI products to compete with OpenAI and Google, per the FT. Zuckerberg hired Scale AI co-founder Alexandr Wang earlier this year to lead a team developing artificial “superintelligence.”
President Trump requested that the Supreme Court overturn the $5 million civil ruling that held him liable for sexual abuse and defamation of author E. Jean Carroll.
Walgreens cut hourly retail workers’ paid vacation time for major holidays in an effort to cut costs under its new owner, the private equity firm Sycamore Partners.
David Szalay won the 2025 Booker Prize for his novel Flesh.
Oil up as Investors Balance Sanctions Risks, Oversupply Worries
Oil prices rose about $1 on Tuesday amid the impact of...
Oil prices rose about $1 on Tuesday amid the impact of the latest U.S. sanctions on Russian oil and optimism over a potential end to the U.S. government shutdown, though oversupply concerns limited gains.
Brent crude futures settled $1.10, or 1.72%, higher to $65.16 a barrel. U.S. West Texas Intermediate crude climbed 91 cents, or 1.51%, to settle at $61.04 a barrel.
Investors continued to assess the fallout from the U.S. sanctions on Russia and their impact on both crude oil and refined fuel markets.
Russia's Lukoil declared force majeure at an Iraqi oilfield it operates, sources told Reuters on Monday, marking the biggest fallout yet from the sanctions imposed last month.
Restricted fuel exports due to sanctions are propping up oil prices amid a crude oil glut, PVM analyst Tamas Varga said.
"Fresh U.S. sanctions on major Russian oil producers and exporters are weighing on product exports," Varga said. As a result, heating oil and gasoline are moving in a different direction from crude.
Middle Eastern producers Saudi Arabia, Iraq and Kuwait will raise crude oil supplies to India in December as Indian refiners seek alternatives to Russian barrels, sources at four Indian refiners said on Tuesday.
Dow closes at new record high, while Nasdaq falls as investors sell tech stocks
U.S. stocks closed mostly higher on Tuesday, with the...
U.S. stocks closed mostly higher on Tuesday, with the Dow Jones Industrial Average having its best day in more than three weeks, as investors shifted away from tech names and into shares that reflect a broader swath of the economy.
Drugmakers Merck & Co. and Amgen Inc. led the Dow's gains. Meanwhile, the S&P 500 sectors that outperformed included health care, energy, and consumer staples.
"The Nasdaq is underperforming the Dow in a way that it seems like the 'pro-growth versus value' narrative is in reverse today," said Keith Buchanan, a senior portfolio manager at Globalt Investments in Atlanta.
The Dow rose 559.33 points, or 1.2%, to end at 47,927.96, based on preliminary data. Tuesday's session brought the Dow its 16th record close of the year.
The S&P 500 advanced 14.18 points, or 0.2%, to finish at 6,846.61.
The Nasdaq Composite fell 58.87 points, or 0.3%, to close at 23,468.30
