In the past week:
- The U.S. economy grew more than expected in the third quarter. The Federal Reserve cut rates by a quarter point and predicted two rate cuts in 2025.
- The Dow Jones industrials marked its longest retreat in decades. Government shutdown fears increased. Bitcoin slumped. Americans are stockpiling goods ahead of tariffs.
- Workers at Amazon and Starbucks went on strike. Alibaba sold its department store business. Softbank’s CEO announced a $100 billion investment in the United States.
- Honda and Nissan held merger talks. FedEx said it would spin off its trucking business. Google cut 10% of its workforce.
- AT&T mandated workers return to the office. CVS faced a suit over unlawful opioid sales. Nike’s CEO vowed to revive the iconic brand.
- November retail sales were better than expected. Food prices increased again. Coffee prices neared a 50-year high. Lay’s potato chips were recalled.
- California’s gasoline-powered car ban got the EPA’s nod.
Driven by its speech technology, SoundHound AI Inc. (NASDAQ: SOUN) has enjoyed an exponential rise in its stock. Though the company is not yet profitable, the potential for adoption by bigger chains or acquisition by a major player is significant.
Billionaire investor Bill Ackman is known for making big bets on stocks and taking an activist position to advocate for change. See why his Pershing Square Capital hedge fund just spent over $2 billion on Nike Inc. (NYSE: NKE) and one other stock that is now his largest holding.
The status of Nvidia Corp. (NASDAQ: NVDA) as the preeminent artificial intelligence (AI) stock in the market has led to a surging valuation. The question for investors is when the company might entertain another stock split. Is that even something investors should be focused on right now?
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