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Business News›Markets›US Stocks›Wall St Guide›FED Meeting Live | Dow Jones Futures | US Stock Market Highlights: US stocks end higher after turning choppy on Fed's rate decision LIVE BLOG FED Meeting Highlights Synopsis Fed Meeting Live Updates | US Stock Market Highlights: US stocks close higher as the Federal Reserve holds interest rates steady and upgrades its economic outlook. Markets price in an 87.4% chance of a December rate hike. Chip stocks gain after strong SK Hynix earnings, while investors await results from Microsoft and Alphabet amid persistent AI spending concerns. Wall Street ends higher after the Federal Reserve keeps interest rates unchanged and upgrades its economic outlook. Investors assess inflation risks, the possibility of a December rate hike and the outlook for AI spending as major technology earnings approach. - Dow rises 0.24%, S&P; 500 gains 0.33% and Nasdaq advances 0.32%. - Markets price in an 87.4% chance of a December rate hike. - Chip stocks gain after SK Hynix reports a more than sevenfold jump in quarterly profit. - Microsoft and Alphabet results remain in focus. Show more 1 New Update S&P; 500 gained 25.43 points, or 0.33%, to end at 7,748.03 points, while the Nasdaq Composite gained 83.42 points, or 0.32%, to 26,561.24. The Dow Jones Industrial Average rose 126.21 points, or 0.24%, to 52,503.78. Read more: Wall Street closed higher Federal Reserve Chairman Kevin Warsh said on Wednesday that the US economy was not running too hot despite demand pressures from the artificial intelligence (AI) investment boom, adding that the central bank's goal "isn't to throw sand in the gears" of economic growth. Read more: Fed economy outlook Wendy’s shares jumped 15% at the opening bell on Wednesday after investor Nelson Peltz’s Trian Fund Management and its partners offered to take the burger chain private, putting a struggling fast food business back in the spotlight, The Associated Press reported. Read more: Wendy's buyout offer Global commodity prices are on track to rise 23% in 2026 as the Middle East war disrupts energy supplies and shipping, while problems with grain shipments and strong demand for gold add to pressure across commodity markets, the World Bank said on Wednesday, Reuters reported. Read more: World Bank sees commodity prices rising in 2026 Federal Reserve Chairman Kevin Warsh stated that the U.S. economy is not running too hot despite increased demand pressures driven by artificial intelligence investments. Speaking after the Federal Reserve opted to hold interest rates steady, Warsh noted that economic growth itself is not stoking inflation, citing recent improvements in productivity as a key stabilizing factor for the economy. Federal Reserve Chairman Kevin Warsh stated that he will not be involved in the White House investigation regarding Federal Reserve Governor Lisa Cook's alleged mortgage application misstatements. The inquiry, led by a three-person panel convened by President Donald Trump, follows a Supreme Court ruling establishing that a U.S. president cannot dismiss a central bank governor at will and must demonstrate cause. US natural gas futures rose roughly 4% to a one-week high as the November contract expired, supported by updated forecasts calling for higher near-term heating demand and sustained gas flows to liquefied natural gas (LNG) export terminals. Despite the daily gain, the 12-month strip fell to a 26-month low of $2.85 per mmBtu, indicating limited medium-term supply concerns. US dollar pares gains against Japanese yen as Chair Kevin Warsh speaks after Fed decision, last up 0.05% at 158.03 yen Federal Reserve Chairman Kevin Warsh stated that political considerations did not influence the central bank's decision to leave interest rates unchanged ahead of the upcoming midterm elections. Speaking at a press conference following the Federal Open Market Committee meeting, Warsh emphasized that policymakers made no reference to politics or next week's elections during their two days of deliberations. Federal Reserve Chairman Kevin Warsh defended his colleagues on the Federal Open Market Committee following political pressure from President Donald Trump, describing the recent policy debate as a "family fight." Speaking at a press conference after the central bank chose to hold interest rates steady, Warsh stated that the committee reached the right policy decision for the moment and expressed honor in serving alongside his fellow policymakers. Anthropic PBC's initial public offering filing reveals an unusually high spend on physical security for its leadership and staff, driven by escalating threats linked to artificial intelligence. The company allocated a combined $4.1 million last year to protect Chief Executive Officer Dario Amodei and President Daniela Amodei. The total includes $2.8 million for Dario and $1.3 million for Daniela, positioning both executives in the top tier of security spending across S&P; 500 companies. Executive compensation experts note that these expenses far exceed typical corporate norms, reflecting growing public hostility surrounding job displacement and environmental concerns over massive data center buildouts. Beyond executive protection, Anthropic highlighted physical safety risks to its broader workforce as a potential drag on hiring, employee morale, and retention. The S-1 filing explicitly warns of potential infiltration attempts by bad actors seeking employment under false identities, alongside risks that foreign adversaries or competitors could coerce staff to breach internal systems. The company maintains an around-the-clock safety operation, ongoing threat monitoring, and emergency support for its employees. Filings experts noted that including explicit workforce physical security risks in regulatory disclosures is a rare move for public technology companies. Federal Reserve Chairman Kevin Warsh announced a structural update to the Federal Open Market Committee's schedule, aimed at dedicating specific sessions to broader monetary policy strategy without immediate rate decisions. Under the new format, the Fed will maintain its standard schedule of eight annual meetings, but in 2027, one session will focus entirely on long-term policy strategy without a federal funds rate vote or policy statement. By 2028, the central bank plans to allocate two meetings exclusively to strategy discussions, leaving six regular meetings for active policy and rate decisions. The US dollar traded mostly unchanged against a basket of major peers after the Federal Reserve kept benchmark interest rates steady to await further inflation data ahead of the upcoming US midterm elections. The dollar index held flat at 102.36 following the central bank's policy announcement. Among major currency pairs, the euro gained 0.09% against the greenback to trade at $1.1134, while the dollar rose 0.21% against the Japanese yen to 158.20. Meanwhile, the New Zealand dollar dropped sharply after the Reserve Bank of New Zealand unexpectedly opted to leave its interest rates unchanged. US stock indexes pulled back following the Federal Reserve's announcement to hold interest rates steady, erasing earlier gains as markets reacted to persistent inflation concerns and dissent within the central bank. Following the release of the Fed's statement and initial press conference remarks, all three major benchmarks moved lower. By mid-afternoon trading, the Dow had pared its gains to +0.13% (+68.03 points) at 52,445.60, the S&P; 500 narrowed its rise to +0.05% (+3.73 points) at 7,726.33, and the Nasdaq Composite extended its decline to -0.21% (-56.15 points) at 26,421.66. Anthropic’s recent IPO filing reveals an increasing reliance on Google, Amazon, and Microsoft to distribute its Claude AI models, despite those same companies acting as major investors, computing suppliers, and direct competitors. Sales through these cloud partners accounted for 48% of Anthropic's revenue in the first half of 2026, up from 11% in 2023, helping drive second-quarter revenue to $11.6 billion. However, channel partner fees jumped to $2.7 billion over the same period, while the filing warned that these partners maintain visibility into Anthropic's pricing and could favor their own competing AI products. The startup's financial structure also shows multi-billion-dollar long-term compute commitments to these tech giants, including at least $114.5 billion to Google through 2033 and $110 billion to Amazon through 2036. Both tech leaders hold substantial economic stakes and convertible debt in Anthropic following multi-billion-dollar funding rounds. The disclosures underscore the complex web of interdependent partnerships, massive infrastructure lease costs, and potential antitrust risks facing the AI firm as it prepares for its stock market debut. The Federal Reserve kept its benchmark interest rate unchanged at roughly 3.9% on Wednesday, opting to gather more economic data despite persistent inflation driven by energy price spikes from the war in Iran. In its post-meeting statement, the central bank noted that inflation remains elevated and stressed its commitment to bringing price growth back to its 2% target. The decision was not unanimous, as Federal Reserve Governor Lisa Cook and Cleveland Fed President Beth Hammack dissented in favor of a quarter-point rate increase. The pause follows a rate hike last month under Chairman Kevin Warsh, the Fed's first in three years, and comes amid broader political and market pressures. President Donald Trump has publicly criticized the central bank's tightening moves, even as market forces have pushed 30-year mortgage rates to multi-year highs of 7.4%, worsening housing affordability ahead of the upcoming US midterm elections. While inflation accelerated to a 3.7% annual pace in September, solid third-quarter GDP growth projections of 3% and a low 4.2% unemployment rate give policymakers room to assess incoming data before deciding whether to resume rate increases at their December meeting. Read more: US Federal Reserve holds interest rates US stocks pared gains slightly on Wednesday after the Federal Reserve left interest rates unchanged. The S&P; 500 was last up 0.14%, while investors assessed the central bank’s decision and outlook for monetary policy. Meta Platforms announced support for academic research initiatives spanning five major universities across the United States. The tech giant's funding will back programs at the California Institute of Technology, the Ohio State University College of Medicine, Louisiana State University, Indiana University, and UTHealth Houston. The corporate support covers a diverse mix of medical, technological, and academic institutions, reflecting Meta's broader efforts to partner with academic researchers. Further financial terms and specific project details were not disclosed in the initial announcement. Life sciences equipment, diagnostics, and industrial equipment companies traded higher, led by a sharp gain in Labcorp Holdings. Shares of Labcorp jumped 10.44% to $365.74, advancing $34.57 to surpass its 52-week high. Other major laboratory tool suppliers and testing specialists also posted solid gains, including Charles River Laboratories, which climbed 4.11% to $373.58, as well as Waters, Revvity, Agilent Technologies, and Thermo Fisher Scientific. Industrial equipment giant United Rentals gained 1.52% to reach $1,180, matching its 52-week high, while diversified manufacturer Fortive rose 3.73% to $63.92. Across the segment, strong buying momentum pushed multiple equities near or above their previous 52-week highs, with trading activity remaining robust across both health care testing and capital goods providers. Marimaca Copper Corp. has selected a preferred specialist mining lender for a $375 million to $400 million project finance loan to construct an open-pit copper mine in northern Chile. Despite macro headwinds like higher interest rates and geopolitical tensions, surging demand for electrification coupled with constrained global copper supplies bolstered lender appetite, allowing the explorer to secure competitive loan terms. The company targets closing the debt facility by year-end as part of a total $750 million funding requirement for the site. Located in the Antofagasta region, the project is designed to produce roughly 50,000 metric tons of refined copper annually, with potential for further expansion via the nearby Pampa Medina discovery. Early site work has already begun, and Marimaca plans to reach a final investment decision when drawing down the debt in mid-2027, setting up full construction and targeted initial production by 2029. While focused on operating the mine itself, Chief Executive Officer Hayden Locke noted the company remains open to potential acquisition proposals. Apple revealed a major redesign of its flagship MacBook Pro, introducing a touchscreen display and reversing a decades-long company stance. Powered by M5 Pro and M5 Max processors, the new laptop is also the first Mac to feature OLED screen technology, offering higher contrast and dynamic range alongside a lighter chassis and a touch-optimized macOS interface. The decision marks a significant pivot from the vision established by co-founder Steve Jobs, who famously dismissed touch-enabled laptops as ergonomically impractical. By incorporating touch controls into its premium laptop tier, Apple aims to revitalize Mac sales and justify higher price points, capping off a busy product rollout week that also included updated entry-level MacBooks, iMacs, and new iPad hardware. The US Maritime Administration has approved a deepwater port license for the $8.2 billion ST LNG project offshore Matagorda, Texas, marking a significant step toward expanding total US liquefied natural gas export capacity by 7% to 9%. Located 10.4 miles off the Texas coast, the deepwater facility will feature four liquefaction systems with a combined annual output capacity of 8.4 million metric tons. Construction is scheduled to begin in 2027, with full commercial operations targeted for 2029. The approval highlights the Trump administration's broader push to accelerate energy infrastructure development by streamlining regulatory oversight and environmental reviews. The Maritime Administration completed the project's final environmental impact statement in 410 days, cutting nearly four years off the historical review average. Officials noted that the offshore location will help bypass onshore port congestion, while feed gas for the terminal will be sourced through existing Texas pipeline infrastructure. The US Department of Homeland Security added Chinese genomics firm BGI Group and two affiliated entities, BGI Genomics and MGI Tech, to the Uyghur Forced Labor Prevention Act Entity List. The decision creates a legal presumption that the companies' products are manufactured using forced labor, effectively barring their goods from entering the US market unless importers can provide clear evidence to the contrary. While all three entities were already subject to separate US restrictions on technology transfers and government contracting, the import ban marks the strongest effort yet by Washington to restrict their commercial access amid intensifying global competition in biotechnology. Both BGI Group and MGI Tech denied the forced labor allegations, emphasizing their adherence to international labor standards and noting that the US accounts for a minimal portion of their global revenues. The sanctions follow previous retaliatory measures by Beijing, which banned US rival Illumina's sequencing machines last year, and reflect broader efforts by US officials to scrutinize foreign biotech operations. With nearly 200 entities now subject to the forced labor blacklist, trade experts expect federal regulators to deploy additional tools targeting clinical trials, testing, and research partnerships. The Federal Reserve is widely anticipated to keep its benchmark interest rate on hold at Wednesday's policy meeting, despite recent accelerations in inflation driven by higher oil prices from the Middle East conflict and heavy AI infrastructure spending. Following a rate hike to 3.9% last month, its first increase in three years, the central bank under Chairman Kevin Warsh faces a delicate balancing act. While consumer price inflation reached 3.7% in September, higher borrowing costs are already straining key sectors, with mortgage rates hovering near 7.4% and further dampening housing affordability just days before US midterm elections. Investors will closely monitor Chairman Warsh's post-meeting news conference for indications of future policy, particularly whether the Fed will resume rate hikes at its December meeting. Critics argue that persistent energy costs and elevated shipping expenses require a firmer stance to bring inflation back to the Fed's 2% target. However, strong third-quarter GDP growth projections of 3% and a steady 4.2% unemployment rate suggest the broader economy remains resilient, giving policymakers room to evaluate upcoming economic data before taking further action. Eurozone government bond yields pushed higher on Wednesday, led by a sharp rise in French debt, as escalating Middle East tensions drove crude prices up and investors prepared for a wave of global central bank decisions. German 10-year yields, the bloc's benchmark, rose slightly to 3.36%, while Brent crude gained 2% to near $116 a barrel following a refinery attack in Saudi Arabia. Short-term yields also advanced, with Germany's two-year bond climbing six basis points to 3.11% as markets weighed energy-driven inflation risks against softening economic growth. French borrowing costs faced the strongest upward pressure, with 10-year yields jumping three basis points to 4.94%—nearing two-decade highs. Investors remain wary of France's worsening fiscal trajectory, civil unrest, and political uncertainty ahead of next year's presidential election. Attention now turns to Thursday’s European Central Bank meeting, where policymakers are expected to hold interest rates steady while navigating sticky inflation, volatile energy markets, and widening stress across European sovereign debt. Anthropic told California Governor Gavin Newsom that government officials should be allowed to seek court orders preventing the deployment of artificial intelligence models that present a serious public risk. In an October 15 letter sent following a state AI safety panel, the company advocated for judicial oversight over prospective releases while opposing mandatory "kill switches" that can shut down entire AI models, favoring more targeted measures like disabling specific problematic agents or user access instead. The policy proposal aligns with broader federal debates, including stalled bipartisan Senate legislation that would grant similar injunctive powers subject to court challenges. Anthropic's advocacy for legal safety frameworks comes as the firm prepares for its landmark initial public offering, despite its own history of regulatory friction, including a temporary Commerce Department order earlier this year that restricted international access to its Mythos 5 and Fable 5 models. European natural gas futures crossed €100 per megawatt-hour on Wednesday, reaching their highest level since December 2022. The price surge follows supply disruptions from the escalating war in Iran, combined with unusually low fuel reserves and approaching cold weather across Europe. Dutch front-month futures rose 4.4% to €100.27, tripling pre-war price levels and adding more than €100 billion to the region’s fossil-fuel import costs. The price spike intensifies economic pressure on European households and industries, reviving cost-of-living concerns and manufacturing strains across the bloc. Supply risks have grown as Middle Eastern exporters, including Qatar, extended force majeure on select LNG deliveries. With Europe forced to compete directly against Asian buyers for limited spot LNG cargoes ahead of peak winter demand, analysts warn that severe cold snaps could push benchmark prices even higher. Shares in major British homebuilders fell sharply on Wednesday after Finance Minister John Healey's maiden budget failed to provide clear details on the timeline and funding for a new first time buyer initiative. The sector index dropped over 4%, reversing earlier gains, while leading developers Barratt Redrow, Taylor Wimpey, and Persimmon each fell more than 5%. Although the government pledged £4.7 billion in lending for the 'Your First Home' scheme, analysts noted that equity loans will not be available until April 2027. This delayed rollout misses the key spring selling season, while the limited funding pool suggests the program may only last a couple of years, creating uncertainty that could deter homebuilders from investing in new construction sites. Global oil refining is enjoying record profitability as attacks in the Middle East and Russia disrupt fuel-making capacity, Bloomberg reported. Refiners worldwide are operating at full tilt, pushing US Gulf Coast margins to an unprecedented $72 per barrel in September. Similar gains have emerged across Europe and Asia as gasoline, diesel and jet fuel prices rise. Despite concerns about electric vehicles and remote working weakening long-term demand, Marathon Petroleum, Valero Energy and Phillips 66 have each gained over 100% this year. Russian President Vladimir Putin hailed Elon Musk as a genius on Wednesday, acknowledging Russia is only beginning to roll out its answer to his Starlink satellite internet system. The admission was all the more striking because a version of Starlink, developed by Musk's SpaceX, has been used by Ukraine's military throughout the war with Russia as a key component of drone operations and battlefield communications. Putin made the remark while listening to a presentation by Digital Development Minister Maksut Shadayev, who said Russia had launched more than 30 satellites as it builds its own Starlink equivalent. "Just a second, I want to point out this is just our first step. Elon Musk is a genius, he's just a real genius," said Putin, who was accompanied by a group of African leaders attending a summit in Moscow. The US dollar was flat against major currencies on Wednesday ahead of the Federal Reserve's interest rate decision, while the New Zealand dollar fell sharply after the country's central bank surprisingly left interest rates unchanged. Traders expect the Fed to leave monetary policy unchanged but they see a 78% chance that the US central bank could lift interest rates by at least 25 basis points in December, according to the CME Group's FedWatch. The euro was flat against the dollar at $1.1130, trading just above the May 2025 low it hit earlier this month. Against the Japanese yen, the dollar was up 0.14% to 158.19 yen. Anthropic on Wednesday released a set of new tools for legal professionals after taking feedback from lawyers seeking easier collaboration and customization from the AI company's Claude for Legal assistant. The new tools, which Anthropic calls artifacts, allow users to more easily create alternatives within Claude's traditional chatbot interface, the company said. They cover work areas that Anthropic said legal teams have asked about most often, including citation checking, mapping regulations and comparing legal topics. Amazon cut about 250 jobs on Wednesday in its devices and services unit after weeks of product rollouts including new Kindle e-readers and tablet computers. The company confirmed the cuts after a Reuters inquiry. "We've made the difficult decision to eliminate a small number of roles," a spokesperson said without elaborating. The cuts affected no more than 250 jobs, said a person familiar with the matter, primarily in software development. The layoffs will help the company "operate more efficiently and better align with our product roadmap," the spokesperson said. Amazon on Wednesday also announced a new Alexa-powered alarm clock and photo frame. Prediction markets are seeing record trading volumes on contracts tied to Anthropic's upcoming initial public offering. Platforms like Polymarket and Kalshi have drawn tens of millions of dollars in wagers covering the company's debut valuation, listing exchange, lead underwriters, and fundraising haul. Industry experts view the surging interest as a real-time gauge of market sentiment for the AI lab, which Reuters reports could fetch a valuation between $1.5 trillion and $2 trillion. While institutional investors traditionally dominate IPO share allocations, prediction contracts give individual traders a novel way to gain financial exposure to high-profile corporate events. Analysts note that these binary bets are increasingly extending into traditional Wall Street territory, serving as both a speculative outlet and a price discovery tool. As Anthropic prepares to list next month, analysts expect the market reaction to serve as a critical test for overall investor appetite surrounding large-scale AI infrastructure. US Treasury yields moved higher on Wednesday as investors awaited the Federal Reserve's afternoon interest rate announcement while monitoring upcoming quarterly reports from major technology leaders. Markets widely expect the Fed to keep benchmark interest rates unchanged following its rate increase in September. However, futures pricing reflects a 75% chance of another quarter point rate hike coming in December. Benchmark 10-year yields pushed past 5.02%, supported by persistent inflation concerns tied to elevated oil prices after a recent attack on a Saudi Arabian refinery as well as heavy capital spending across the artificial intelligence sector. Market attention remains fixed on whether high energy costs and tech infrastructure demand will slow progress toward the Fed's inflation target, with Thursday’s Personal Consumption Expenditures report expected to offer clearer direction. Meanwhile, yields rebounded from last week's sharp bond market rally, which was triggered by stock sell-offs following Meta's aggressive capital spending announcements. Investors have now turned their focus to post-market earnings from Microsoft and Alphabet, seeking evidence that accelerating cloud growth can offset the ongoing financial drain of the AI buildout. US crude oil inventories fell by 1.9 million barrels to 410.6 million barrels for the week ending October 23, defying analyst forecasts for a minor build. Distillate stocks also shrank by 1.5 million barrels to 102.8 million barrels, recording a larger draw than expected. The declines were accompanied by a drop in net crude imports of 796,000 barrels per day, a 624,000-barrel draw at the Cushing delivery hub, and a slight dip in refinery utilization to 92.8%. In contrast, gasoline inventories rose sharply by 3.9 million barrels to 209.2 million barrels, surprising markets that had anticipated a 0.9 million-barrel draw. The unexpected buildup highlights shifting demand patterns, as rising motor fuel supplies countered the overall contraction across raw crude and middle distillate reserves. International oil prices moved higher on Wednesday as ongoing instability across the Middle East and global energy markets kept investors on edge. Brent crude, the global benchmark, advanced 1.8% to settle at $111.33 per barrel. Etsy shares jumped 3.7% following a strong quarterly earnings report that significantly beat Wall Street profit estimates. CEO Kruti Patel Goyal highlighted two major milestones for the online marketplace: active buyer growth returned to positive territory for the first time in two years, while its active seller base expanded at its fastest pace over the same period. GE HealthCare Technologies saw its stock climb 7.3% after posting third quarter revenue and profit that topped Wall Street estimates. Buoyed by the strong seasonal performance, the medical technology company also upgraded its full year financial outlook, raising forecasts for revenue growth and key performance metrics. Wendy's shares jumped 15% after activist investor Nelson Peltz and his firm, Trian Fund Management, offered to acquire the struggling fast-food chain for $7.35 per share in cash. The deal values the company at an 19% premium over its previous closing price. Trian, which already holds a 16.3% stake in the chain, argued in a letter to the board that taking the company private is necessary to navigate persistent inflation, intense fast-food competition, and weakening consumer spending. The takeover proposal comes after a prolonged downturn for Wendy's, marked by two consecutive years of declining same-store sales and a 25% drop in its stock price over the past year. The Dublin, Ohio-based company declined to comment on the proposal ahead of its upcoming quarterly earnings report. Analysts expect the chain to report earnings of 9 cents per share on $531 million in revenue. Microsoft is gaining the upper hand over Alphabet as investors scrutinize the soaring cost of building artificial intelligence infrastructure. While Alphabet's free cash flow recently turned negative due to massive capital expenditures, Microsoft's strong cloud revenue growth has reassured Wall Street that its heavy spending is yielding tangible returns. With both tech giants reporting earnings, investors are watching cloud performance closely for proof that AI investments translate into sustainable profits. Microsoft's stock has surged while Alphabet's has declined, reflecting market preference for companies that maintain cash flow discipline amid high infrastructure costs. The S&P; 500 and the Nasdaq opened higher on Wednesday as memory-chip firms climbed after SK Hynix's bumper results, while investors looked to upcoming key corporate earnings as the next test of AI trade, alongside the Federal Reserve's rate decision. Read more: US stocks trade higher The
Business News›Markets›US Stocks›Wall St Guide›FED Meeting Live | Dow Jones Futures | US Stock Market Highlights: US stocks end higher after turning choppy on Fed's rate decision LIVE BLOG FED Meeting Highlights Synopsis Fed Meeting Live Updates | US Stock Market Highlights: US stocks close higher as the Federal Reserve holds interest rates steady and upgrades its economic outlook. Markets price in an 87.4% chance of a December rate hike. Chip stocks gain after strong SK Hynix earnings, while investors await results from Microsoft and Alphabet amid persistent AI spending concerns. Wall Street ends higher after the Federal Reserve keeps interest rates unchanged and upgrades its economic outlook. Investors assess inflation risks, the possibility of a December rate hike and the outlook for AI spending as major technology earnings approach. - Dow rises 0.24%, S&P; 500 gains 0.33% and Nasdaq advances 0.32%. - Markets price in an 87.4% chance of a December rate hike. - Chip stocks gain after SK Hynix reports a more than sevenfold jump in quarterly profit. - Microsoft and Alphabet results remain in focus. Show more 1 New Update S&P; 500 gained 25.43 points, or 0.33%, to end at 7,748.03 points, while the Nasdaq Composite gained 83.42 points, or 0.32%, to 26,561.24. The Dow Jones Industrial Average rose 126.21 points, or 0.24%, to 52,503.78. Read more: Wall Street closed higher Federal Reserve Chairman Kevin Warsh said on Wednesday that the US economy was not running too hot despite demand pressures from the artificial intelligence (AI) investment boom, adding that the central bank's goal "isn't to throw sand in the gears" of economic growth. Read more: Fed economy outlook Wendy’s shares jumped 15% at the opening bell on Wednesday after investor Nelson Peltz’s Trian Fund Management and its partners offered to take the burger chain private, putting a struggling fast food business back in the spotlight, The Associated Press reported. Read more: Wendy's buyout offer Global commodity prices are on track to rise 23% in 2026 as the Middle East war disrupts energy supplies and shipping, while problems with grain shipments and strong demand for gold add to pressure across commodity markets, the World Bank said on Wednesday, Reuters reported. Read more: World Bank sees commodity prices rising in 2026 Federal Reserve Chairman Kevin Warsh stated that the U.S. economy is not running too hot despite increased demand pressures driven by artificial intelligence investments. Speaking after the Federal Reserve opted to hold interest rates steady, Warsh noted that economic growth itself is not stoking inflation, citing recent improvements in productivity as a key stabilizing factor for the economy. Federal Reserve Chairman Kevin Warsh stated that he will not be involved in the White House investigation regarding Federal Reserve Governor Lisa Cook's alleged mortgage application misstatements. The inquiry, led by a three-person panel convened by President Donald Trump, follows a Supreme Court ruling establishing that a U.S. president cannot dismiss a central bank governor at will and must demonstrate cause. US natural gas futures rose roughly 4% to a one-week high as the November contract expired, supported by updated forecasts calling for higher near-term heating demand and sustained gas flows to liquefied natural gas (LNG) export terminals. Despite the daily gain, the 12-month strip fell to a 26-month low of $2.85 per mmBtu, indicating limited medium-term supply concerns. US dollar pares gains against Japanese yen as Chair Kevin Warsh speaks after Fed decision, last up 0.05% at 158.03 yen Federal Reserve Chairman Kevin Warsh stated that political considerations did not influence the central bank's decision to leave interest rates unchanged ahead of the upcoming midterm elections. Speaking at a press conference following the Federal Open Market Committee meeting, Warsh emphasized that policymakers made no reference to politics or next week's elections during their two days of deliberations. Federal Reserve Chairman Kevin Warsh defended his colleagues on the Federal Open Market Committee following political pressure from President Donald Trump, describing the recent policy debate as a "family fight." Speaking at a press conference after the central bank chose to hold interest rates steady, Warsh stated that the committee reached the right policy decision for the moment and expressed honor in serving alongside his fellow policymakers. Anthropic PBC's initial public offering filing reveals an unusually high spend on physical security for its leadership and staff, driven by escalating threats linked to artificial intelligence. The company allocated a combined $4.1 million last year to protect Chief Executive Officer Dario Amodei and President Daniela Amodei. The total includes $2.8 million for Dario and $1.3 million for Daniela, positioning both executives in the top tier of security spending across S&P; 500 companies. Executive compensation experts note that these expenses far exceed typical corporate norms, reflecting growing public hostility surrounding job displacement and environmental concerns over massive data center buildouts. Beyond executive protection, Anthropic highlighted physical safety risks to its broader workforce as a potential drag on hiring, employee morale, and retention. The S-1 filing explicitly warns of potential infiltration attempts by bad actors seeking employment under false identities, alongside risks that foreign adversaries or competitors could coerce staff to breach internal systems. The company maintains an around-the-clock safety operation, ongoing threat monitoring, and emergency support for its employees. Filings experts noted that including explicit workforce physical security risks in regulatory disclosures is a rare move for public technology companies. Federal Reserve Chairman Kevin Warsh announced a structural update to the Federal Open Market Committee's schedule, aimed at dedicating specific sessions to broader monetary policy strategy without immediate rate decisions. Under the new format, the Fed will maintain its standard schedule of eight annual meetings, but in 2027, one session will focus entirely on long-term policy strategy without a federal funds rate vote or policy statement. By 2028, the central bank plans to allocate two meetings exclusively to strategy discussions, leaving six regular meetings for active policy and rate decisions. The US dollar traded mostly unchanged against a basket of major peers after the Federal Reserve kept benchmark interest rates steady to await further inflation data ahead of the upcoming US midterm elections. The dollar index held flat at 102.36 following the central bank's policy announcement. Among major currency pairs, the euro gained 0.09% against the greenback to trade at $1.1134, while the dollar rose 0.21% against the Japanese yen to 158.20. Meanwhile, the New Zealand dollar dropped sharply after the Reserve Bank of New Zealand unexpectedly opted to leave its interest rates unchanged. US stock indexes pulled back following the Federal Reserve's announcement to hold interest rates steady, erasing earlier gains as markets reacted to persistent inflation concerns and dissent within the central bank. Following the release of the Fed's statement and initial press conference remarks, all three major benchmarks moved lower. By mid-afternoon trading, the Dow had pared its gains to +0.13% (+68.03 points) at 52,445.60, the S&P; 500 narrowed its rise to +0.05% (+3.73 points) at 7,726.33, and the Nasdaq Composite extended its decline to -0.21% (-56.15 points) at 26,421.66. Anthropic’s recent IPO filing reveals an increasing reliance on Google, Amazon, and Microsoft to distribute its Claude AI models, despite those same companies acting as major investors, computing suppliers, and direct competitors. Sales through these cloud partners accounted for 48% of Anthropic's revenue in the first half of 2026, up from 11% in 2023, helping drive second-quarter revenue to $11.6 billion. However, channel partner fees jumped to $2.7 billion over the same period, while the filing warned that these partners maintain visibility into Anthropic's pricing and could favor their own competing AI products. The startup's financial structure also shows multi-billion-dollar long-term compute commitments to these tech giants, including at least $114.5 billion to Google through 2033 and $110 billion to Amazon through 2036. Both tech leaders hold substantial economic stakes and convertible debt in Anthropic following multi-billion-dollar funding rounds. The disclosures underscore the complex web of interdependent partnerships, massive infrastructure lease costs, and potential antitrust risks facing the AI firm as it prepares for its stock market debut. The Federal Reserve kept its benchmark interest rate unchanged at roughly 3.9% on Wednesday, opting to gather more economic data despite persistent inflation driven by energy price spikes from the war in Iran. In its post-meeting statement, the central bank noted that inflation remains elevated and stressed its commitment to bringing price growth back to its 2% target. The decision was not unanimous, as Federal Reserve Governor Lisa Cook and Cleveland Fed President Beth Hammack dissented in favor of a quarter-point rate increase. The pause follows a rate hike last month under Chairman Kevin Warsh, the Fed's first in three years, and comes amid broader political and market pressures. President Donald Trump has publicly criticized the central bank's tightening moves, even as market forces have pushed 30-year mortgage rates to multi-year highs of 7.4%, worsening housing affordability ahead of the upcoming US midterm elections. While inflation accelerated to a 3.7% annual pace in September, solid third-quarter GDP growth projections of 3% and a low 4.2% unemployment rate give policymakers room to assess incoming data before deciding whether to resume rate increases at their December meeting. Read more: US Federal Reserve holds interest rates US stocks pared gains slightly on Wednesday after the Federal Reserve left interest rates unchanged. The S&P; 500 was last up 0.14%, while investors assessed the central bank’s decision and outlook for monetary policy. Meta Platforms announced support for academic research initiatives spanning five major universities across the United States. The tech giant's funding will back programs at the California Institute of Technology, the Ohio State University College of Medicine, Louisiana State University, Indiana University, and UTHealth Houston. The corporate support covers a diverse mix of medical, technological, and academic institutions, reflecting Meta's broader efforts to partner with academic researchers. Further financial terms and specific project details were not disclosed in the initial announcement. Life sciences equipment, diagnostics, and industrial equipment companies traded higher, led by a sharp gain in Labcorp Holdings. Shares of Labcorp jumped 10.44% to $365.74, advancing $34.57 to surpass its 52-week high. Other major laboratory tool suppliers and testing specialists also posted solid gains, including Charles River Laboratories, which climbed 4.11% to $373.58, as well as Waters, Revvity, Agilent Technologies, and Thermo Fisher Scientific. Industrial equipment giant United Rentals gained 1.52% to reach $1,180, matching its 52-week high, while diversified manufacturer Fortive rose 3.73% to $63.92. Across the segment, strong buying momentum pushed multiple equities near or above their previous 52-week highs, with trading activity remaining robust across both health care testing and capital goods providers. Marimaca Copper Corp. has selected a preferred specialist mining lender for a $375 million to $400 million project finance loan to construct an open-pit copper mine in northern Chile. Despite macro headwinds like higher interest rates and geopolitica
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