Morning Brief

• Palantir tumbles, Burry bets against AI darlings, shutdown pain grows

  US stock futures are under pressure as Palantir (PLTR) slides despite beating on earnings and raising its full-year outlook, with investors balking at its lofty valuation after a 170% year-to-date run. The AI favorite is also under fresh scrutiny after “Big Short” hedge fund manager Michael Burry disclosed prominent put positions against both Palantir and Nvidia (NVDA), stoking fears of an AI bubble and a broader tech pullback. Uber (UBER) stock fell after missing on operating income and issuing softer guidance, while Pfizer (⁠PFE⁠) raised its 2025 profit forecast but faces a challenge to its planned Metsera obesity-drug deal from Novo Nordisk (NVO). In Washington, the government shutdown has now tied the record at 35 days, with 40 million low-income Americans at risk of losing SNAP benefits before a judge-ordered round of partial payments, and the Supreme Court is set to hear a significant case on the legality of Trump-era tariffs. Voters head to the polls in key state elections in Virginia, New Jersey, and New York as the political landscape for tariffs and the broader economic agenda takes shape. Takeaways: Palantir stock sinks on valuation fears despite strong earnings and guidance Michael Burry takes prominent bearish options positions against Nvidia and Palantir, flashing an AI bubble warning Uber misses on operating income; Pfizer lifts 2025 outlook as Novo Nordisk contests its Metsera deal Government shutdown hits day 35, threatening SNAP benefits and setting records Supreme Court tariff case and state elections could reshape Trump’s economic and trade agenda Yahoo Finance's flagship show, Morning Brief, is your go-to source for smarter investing and market moves. Thoughts? Questions? Fan mail? Please email us at [email protected]. Learn more about your ad choices. Visit megaphone.fm/adchoices

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• Buffett’s record $382B cash pile, $40B Kenvue deal, OpenAI’s $38B Amazon pact

  US stocks kick off November on a positive note after October marked a sixth straight month of gains, with futures higher ahead of a big week for earnings from AMD (AMD), Palantir (PLTR), and Qualcomm (QCOM). Berkshire Hathaway (BRK-B) reported strong insurance results and a record $381.7 billion cash pile, but no share buybacks — a sign Warren Buffett may still see the stock as expensive as he prepares to step down as CEO at year-end, handing the role to Greg Abel while remaining chairman. In consumer staples, Kimberly-Clark (KMB) is buying Tylenol maker Kenvue (KVUE) for $40 billion in a deal that would vault it past Unilever (UL) as the No. 2 global health-and-wellness player. Fed officials remain sharply divided on whether to cut rates again in December after two straight moves, with hawks warning about sticky inflation and doves arguing for more easing. Meanwhile, Tesla (TSLA) shareholders prepare to vote Thursday on Elon Musk’s proposed $1 trillion pay package, and breaking news hit that OpenAI has signed a $38 billion cloud deal with Amazon (AMZN) Web Services to tap Nvidia GPUs as part of a broader AI capex boom that already tops $400 billion for 2025. In trending tickers, Australia-based AI data center operator Iris Energy (IREN) struck a $9.7 billion cloud capacity deal with Microsoft (MSFT), and Pfizer (PFE) is suing to block Novo Nordisk’s (NVO) bid for obesity-drug startup Metsera. Takeaways: Berkshire’s cash hoard hits a record $381.7B with no buybacks as Buffett prepares CEO handoff to Greg Abel Kimberly-Clark to buy Kenvue for $40B, aiming to leapfrog Unilever in health and wellness Fed officials split on a December rate cut after two straight moves lower OpenAI signs $38B cloud deal with AWS; Microsoft inks $9.7B AI capacity pact with Iris Energy Tesla faces high-stakes shareholder vote on Elon Musk’s proposed $1T pay package Yahoo Finance's flagship show, Morning Brief, is your go-to source for smarter investing and market moves. Thoughts? Questions? Fan mail? Email us at [email protected]. Learn more about your ad choices. Visit megaphone.fm/adchoices

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  18:24
• Buffett’s record $382B cash pile, $40B Kenvue deal, OpenAI’s $38B Amazon pact

  US stocks kick off November on a positive note after October marked a sixth straight month of gains, with futures higher ahead of a big week for earnings from AMD (AMD), Palantir (PLTR), and Qualcomm (QCOM). Berkshire Hathaway (BRK-B) reported strong insurance results and a record $381.7 billion cash pile, but no share buybacks — a sign Warren Buffett may still see the stock as expensive as he prepares to step down as CEO at year-end, handing the role to Greg Abel while remaining chairman. In consumer staples, Kimberly-Clark (KMB) is buying Tylenol maker Kenvue (KVUE) for $40 billion in a deal that would vault it past Unilever (UL) as the No. 2 global health-and-wellness player. Fed officials remain sharply divided on whether to cut rates again in December after two straight moves, with hawks warning about sticky inflation and doves arguing for more easing. Meanwhile, Tesla (TSLA) shareholders prepare to vote Thursday on Elon Musk’s proposed $1 trillion pay package, and breaking news hit that OpenAI has signed a $38 billion cloud deal with Amazon (AMZN) Web Services to tap Nvidia GPUs as part of a broader AI capex boom that already tops $400 billion for 2025. In trending tickers, Australia-based AI data center operator Iris Energy (IREN) struck a $9.7 billion cloud capacity deal with Microsoft (MSFT), and Pfizer (PFE) is suing to block Novo Nordisk’s (NVO) bid for obesity-drug startup Metsera. Takeaways: Berkshire’s cash hoard hits a record $381.7B with no buybacks as Buffett prepares CEO handoff to Greg Abel Kimberly-Clark to buy Kenvue for $40B, aiming to leapfrog Unilever in health and wellness Fed officials split on a December rate cut after two straight moves lower OpenAI signs $38B cloud deal with AWS; Microsoft inks $9.7B AI capacity pact with Iris Energy Tesla faces high-stakes shareholder vote on Elon Musk’s proposed $1T pay package Yahoo Finance's flagship show, Morning Brief, is your go-to source for smarter investing and market moves. Thoughts? Questions? Fan mail? Email us at [email protected]. Learn more about your ad choices. Visit megaphone.fm/adchoices

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  20:09
• US–China truce, Fed hawkish, Big Tech spending surge

  US stocks edge lower after a busy night of earnings and policy headlines. President Trump and China’s Xi Jinping agreed to a one-year trade truce at their meeting in South Korea, cutting fentanyl-related tariffs in half while China resumes rare-earth exports and soybean purchases worth 12 million metric tons — about 10% of the U.S. annual crop. The deal pauses further escalation but keeps the average U.S. tariff rate near 47%. Markets reacted coolly as investors stayed focused on Big Tech earnings and Fed policy. Alphabet (GOOG) jumped after a surge in AI-driven cloud revenue, while Meta (META) fell as its CapEx outlook ballooned to up to $72B for 2025. Microsoft (MSFT) rose after CFO Amy Hood said demand remains “capacity constrained,” even after billions in AI infrastructure spend. Meanwhile, Fed Chair Jerome Powell signaled caution after delivering another 25 bp rate cut, warning that “a further reduction in December is not a foregone conclusion.” The market slashed odds of another cut to 60% as internal Fed divisions widen. Takeaways: US and China reach one-year trade truce; tariffs cut on fentanyl goods, soybean purchases resume Fed cuts rates but warns no preset path; December cut odds fall sharply Big Tech CapEx explodes 89% year-over-year — AI spending dominates Q3 Alphabet rallies on strong cloud results; Meta sinks on CapEx surge Yahoo Finance's flagship show, Morning Brief, is your go-to source for smarter investing and market moves. Thoughts? Questions? Fan mail? Email us at [email protected]. Learn more about your ad choices. Visit megaphone.fm/adchoices

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  25:19
• Nvidia hits $5 trillion, Fed decision day, Boeing’s $4.9B charge

  US stocks rose as Nvidia (⁠NVDA⁠) became the first company to hit a $5 trillion market cap, driven by record AI chip demand and bullish guidance from CEO Jensen Huang following the company’s GTC event. Analysts at Bernstein say Nvidia’s next-generation Blackwell and Rubin chips could generate over $500B in data center revenue over the next six quarters. The milestone comes ahead of a massive week for Big Tech earnings, with Alphabet (GOOG), Meta (META), and Microsoft (MSFT) set to report after today’s close, followed by Apple (AAPL) and Amazon (AMZN) on Thursday. On the macro front, the Federal Reserve is expected to cut rates by 25 basis points this afternoon, with Chair Jerome Powell’s press conference focusing on signals on future policy moves. Boeing (BA) fell after posting a wider-than-expected loss and taking a $4.9B charge on its delayed 777X jet program, now pushed to 2027. Meanwhile, Verizon (VZ) posted modest subscriber losses under new CEO Dan Schulman, Caterpillar (CAT) beat estimates on surging AI-related energy equipment demand, and Fiserv (FI) plunged after slashing guidance and announcing a board shake-up. Takeaways: Nvidia becomes the first company ever to hit $5 trillion market cap Fed expected to cut rates by 25 bps; investors eye Powell’s tone Boeing posts $4.9B charge, delays 777X to 2027 Verizon, Caterpillar, and Fiserv move on earnings results Yahoo Finance's flagship show, Morning Brief, is your go-to source for smarter investing and market moves. Thoughts? Questions? Fan mail? Please email us at [email protected]. Learn more about your ad choices. Visit megaphone.fm/adchoices

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