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US indices showed mixed performance with the S&P 500 rising 0.1%, Nasdaq 100 falling 0.4%, and Dow Jones Industrial Average adding 0.4% as investors prepare for Nvidia's earnings and key inflation data later this week.
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Apple (AAPL) announced plans to invest more than $500 billion in the US over the next four years, including a new manufacturing factory, doubling its Advanced Manufacturing Fund to $10 billion, and hiring 20,000 people primarily in R&D, silicon engineering, and AI development.
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Starbucks (SBUX) will eliminate 1,100 corporate jobs and several hundred additional unfilled positions globally as CEO Brian Niccol implements his turnaround plan to simplify the company's structure and create "smaller, more nimble teams."
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The Trump administration issued a memorandum directing the Committee on Foreign Investment in the US to curb Chinese spending in strategic American sectors, proposed fees on Chinese-built ships, and requested Mexico to place levies on Chinese imports.
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Palantir (PLTR) stock tumbled as much as 10%, extending a four-day drop of more than 25%, amid concerns about potential Pentagon budget cuts impacting the data software company's government contracts.
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Nvidia stock recovered from an early 3% drop ahead of its earnings report Wednesday, while hedge funds' net exposure to Magnificent Seven megacaps hit the lowest level since April 2023.
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Microsoft shares declined after an analyst reported the company dropped some AI data-center leases, raising concerns about over-securing computing capacity for artificial intelligence applications.
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Citadel Securities is looking to become a cryptocurrency liquidity provider on exchanges including Coinbase, Binance, and Crypto.com, betting on President Trump's embrace of the industry to drive growth in digital assets.
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Treasury yields declined with the 10-year yield dropping three basis points to 4.41%, while the Bloomberg Dollar Spot Index remained relatively unchanged.
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Berkshire Hathaway jumped 4% as operating earnings surged 71%, while Alibaba Group sank 10% amid a $53 billion AI spending pledge and growing US-China trade tensions.
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DAX ends the day up 1% after Germany election results announcement. The CDU and CSU coalition won 28.5% of the vote, clearly becoming the strongest faction, followed by the AfD with 20.8%, and then the SPD, which achieved a historically weak result. Such a large fragmentation of the new parliament could make it difficult to pass the reforms proposed by the CDU/CSU.
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The cryptocurrency market faces another weak day. Bitcoin is down 1.60% to 94600 USD, while Ethereum drops 5.50% to 2650 USD. Other altcoins are also experiencing significant sell-off.
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Investors confidence remains shaken after Friday’s 1.5b USD in ETH hack on ByBit, which was likely the largest in the entire history of the financial markets.
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ByBit recovers nearly all stolen fund during the weekend to protect clients. The company managed to buyback almost entire Ethereum fund. Increase demand was evident during weekend low-liquidity trading, as Ethereum was gaining 2% while Bitcoin declined almost 1%.
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