Business

Business and finance news today: markets, the economy, deals and companies, from trusted publishers, with AI summaries that cite their sources.

Business At-a-Glance

Business and Finance News

US inflation data came in hotter than expected, impacting Bitcoin and stock futures. Anthropic set a price range for its upcoming initial public offering.

Updated . AI-generated from the topic's top stories.

Top Stories

October inflation rises 0.4%, stoking Fed rate-hike fears

Updated

Consumer prices rose faster than forecasters expected in October, the first monthly price reading after the U.S. midterm elections.

What happened

U.S. consumer prices rose 0.4% in October from September, more than expected, according to the Labor Department's Bureau of Labor Statistics. Core inflation rose 0.3%, and traders had already priced in a Federal Reserve rate hike at the December meeting.

Why it matters

The hotter-than-expected figures raise the likelihood of more aggressive Federal Reserve rate hikes, which could weigh on mortgage rates and the stock market.

Timeline

  1. Nov 10, 8:31 AM ET: Consumer prices rose 0.4% in October, more than expected, after a 0.6% rise in September.
  2. Nov 10, 3:00 PM ET: The 10-year Treasury yield rose to 5% and the 2-year yield climbed 17 basis points, and Nvidia's slide weighed on the Nasdaq 100.
  3. Nov 10, 4:09 PM ET: Tech stocks suffered the brunt of the selling as soaring Treasury yields and a smaller-than-expected Anthropic valuation weighed on the sector.

Coverage

Anthropic pulls IPO documents sent to banks in error

Updated

Anthropic late Monday sent banks an updated prospectus for its initial public offering, then retracted it, saying some details were incorrect.

What happened

Anthropic late Monday sent banks an updated prospectus for its initial public offering, then retracted it, saying some details were incorrect.

Coverage

Democrats take Congress as voters cite economy in midterm elections

Updated

Democrats won control of Congress in the U.S. midterm elections, and voters said inflation and the high cost of living drove their decisions.

What happened

Democrats won control of Congress in the U.S. midterm elections, and voters said inflation and the high cost of living drove their decisions. The incoming Democratic majority now faces tasks on inflation, the deficit, artificial intelligence and Social Security alongside President Trump.

Why it matters

Democratic control of Congress could constrain Trump's domestic energy agenda and add uncertainty over sanctions and trade policy. Washington may also face gridlock with a Republican in the White House.

Timeline

  1. Nov 3: Voters went to the polls in the U.S. midterm elections.
  2. Nov 9, 3:46 PM ET: The AP reported that the incoming Democratic majority faces urgent tasks on inflation, the deficit and Social Security alongside Trump.
  3. Nov 9, 10:50 AM ET: Democratic leaders and advocates called for healthcare reforms and policies focused on affordability.
  4. Nov 10, 2:00 PM ET: Analysts said Democrats' victory could constrain Trump's domestic energy agenda and raise uncertainty over sanctions and trade.

Coverage

Paraguay raids former president Pena's home after bank collapse

Updated

Paraguay's Ueno Bank collapse led senators to impeach President Santiago Peña, who now faces financial crime charges.

What happened

Ueno Bank collapsed, leaving more than half of Paraguay's population unable to access their bank accounts from November 3. Senators impeached President Santiago Peña, who is connected to the bank, and former vice president Alliana took charge as president. Peña faces charges of financial crimes, and his home was raided, while thousands of public schoolteachers went on strike to demand pension fund protections.

Why it matters

Millions of customers have been unable to access their money, and the collapse has raised questions about who bears the risks of financial modernization in the country.

Timeline

  1. Nov 3: Ueno Bank collapsed, and more than half of Paraguay's population woke up unable to access their bank accounts.
  2. Friday: Senators impeached Santiago Peña, and former vice president Alliana took charge as the country's president.
  3. Nov 9, 8:44 AM ET: Paraguay raided the home of Santiago Peña, who faces charges of financial crimes following the collapse of Ueno Bank.
  4. Nov 9, 1:19 PM ET: Thousands of public schoolteachers went on strike in Paraguay and took to the streets of several cities.
  5. Nov 9, 2:36 PM ET: The new president ordered all ministers to resign and appointed Schreiner as new central bank head.

Coverage

Nvidia probes CEO Jensen Huang's ties to alleged Chinese spy

Updated

Nvidia's chief executive is under internal investigation over a relationship tied to a suspected Chinese intelligence operation, shaking the AI chipmaker's shares.

What happened

Nvidia has launched an investigation into reports that CEO Jensen Huang was the target of a foreign intelligence effort, after Huang acknowledged an affair with a woman linked to Chinese intelligence. Nvidia's shares have sold off on the news, while the broader chip sector and Nasdaq have rallied. The company has hired the law firm Wachtell Lipton to lead the probe, with former prosecutor Joon Kim in charge.

Why it matters

Huang has no clear successor, and analysts say a leadership shake-up could send shockwaves through the market, since Nvidia makes up about 6% of the S&P 500. A shareholder lawsuit has also been filed against the company.

Timeline

  1. Nov 10, 2:19 PM ET: Nvidia hired the law firm Wachtell Lipton to lead the probe into Huang's affair, after Huang had admitted on Sunday to the relationship.
  2. Nov 10, 3:13 AM ET: Nvidia was hit by a shareholder lawsuit over Huang's relationship with the suspected Chinese spy.
  3. Nov 10, 3:00 PM ET: Huang has been asked to brief Congress about his ties to a Singapore business executive on Nov. 18.

Coverage

Warren plans to target prediction markets as Banking chair

Updated

Sen. Elizabeth Warren, a Massachusetts Democrat, intends to become the next chair of the Senate Banking Committee, and her aides have outlined her planned agenda.

What happened

Sen. Elizabeth Warren, a Massachusetts Democrat, intends to become the next chair of the Senate Banking Committee, and her aides have outlined her planned agenda. The priorities include affordability, artificial intelligence, prediction markets, a potential financial crisis and accountability, including scrutiny of Trump family crypto ventures. Her aides say she will target prediction markets' lack of oversight after she pressed Kalshi and Polymarket on election trading.

Why it matters

Warren's agenda could bring closer scrutiny of prediction markets and of crypto firms linked to the Trump family. Aides say the Trump family should be prepared to answer tough questions.

Timeline

  1. Nov 9, 6:56 AM ET: Warren intends to be the next chair of the Senate Banking Committee, and a first readout of her agenda emerged.
  2. Nov 9, 3:03 PM ET: An aide said Warren will focus on affordability, artificial intelligence, prediction markets, a looming potential financial crisis and accountability.
  3. Nov 10, 12:30 PM ET: Aides said the Trump family should be prepared to answer tough questions as Warren readies to lead the committee in January.

Coverage

Bitcoin falls below $74,000 after hotter US inflation data

Updated

Bitcoin fell below $74,000 on Tuesday after U.S. inflation for October came in hotter than economists had expected.

What happened

Bitcoin fell below $74,000 on Tuesday after U.S. inflation for October came in hotter than economists had expected. The data pushed traders to bet more heavily on another interest rate increase from the Federal Reserve next month.

Why it matters

Traders now expect the Federal Reserve to raise rates again, which has weighed on risk assets such as cryptocurrencies. Bitcoin fell as much as 3% to $72,695, close to a three-month low.

Timeline

  1. Nov 10, 9:40 AM ET: Bitcoin fell below $74,000 after U.S. inflation came in hotter than forecast.
  2. Nov 10, 6:24 PM ET: Bitcoin dropped as much as 3% to $72,695, nearly a three-month low, while Ether and XRP lost over 5%.

Coverage

CoreWeave tops revenue forecasts and lifts annual guidance

Updated

Shares of CoreWeave had been hit hard before its third-quarter earnings report on Tuesday.

What happened

CoreWeave reported third-quarter results on Tuesday, with revenue ahead of estimates. The company also raised its full-year outlook, and its stock rose after the report. The shares had fallen sharply before the earnings release.

Coverage

Tech selloff sends US stocks into sharp AI-driven slide

Updated

US stocks, led by technology shares, suffered a steep sell-off tied to the AI market after the midterm elections.

What happened

US stocks, led by technology shares, suffered a steep sell-off tied to the AI market after the midterm elections. Analysts disagreed on whether the drop would deepen or was nearly over, and a sharp one-day rebound followed as investors bought beaten-down chip and hardware stocks.

Why it matters

Analysts said a tech selloff matters most if it spreads into the broader economy. Some warned of a possible deep bear market, while others expected a year-end rally.

Timeline

  1. Nov 9, 5:26 AM ET: Morgan Stanley's chief strategist said the market correction is entering its final phase and the S&P 500 could fall toward the lower end of its downside target.
  2. Nov 9, 10:32 PM ET: Stocks had their best day since April, with the S&P 500 fund recovering 85% of the previous week's loss in one session.
  3. Nov 10, 5:14 AM ET: ING's global economics team warned the US tech correction could extend into a full-blown, deep bear market.

Coverage

S&P 500 suffers its worst day since April 2025

Updated

The S&P 500 recorded its worst day since April 2025, according to a Yahoo News report. A separate fool.com analysis said November has opened worse for the index than all but two Novembers since 1950.

What happened

The S&P 500 had its worst day since April 2025, according to a Yahoo News report on November 10. Financial commentary from the same day advised investors to prepare for such setbacks at all times. A separate fool.com analysis said this November has started worse for the index than all but two Novembers since 1950.

Why it matters

The reports suggest investors should be ready for sharp market declines, which they describe as rare. The weak start to November places this month among the poorest openings for the index in decades.

Coverage

Latest Articles

  1. Nvidia hires law firm Wachtell Lipton to lead Jensen Huang affair probe Kif Leswing
  2. Stock Market Today, Nov. 10: Nvidia Stock Plunges 5.5% as CEO Scandal Overshadows Its Upcoming Earnings Report RJ Fulton
  3. Stock Market Races Higher; Nasdaq Jumps Nearly 3% As Chip Stocks Fly, Leave Nvidia In The Dust Investor's Business Daily
  4. Anthropic values itself at nearly $1.3 trillion, according to new IPO filing Zunaira Zaki
  5. Consumer prices increased 0.4% in October; energy, shelter rose Joe Fisher
  6. Bitcoin (BTC) price falls as Fed rate-hike bets build ahead of U.S. CPI report James Van Straten
  7. Gold price falls nearly 3% as CPI tops forecasts, lifting dollar and yields Amanda Stutt
  8. Anthropic to raise $64bn in major stock market listing bbc.com
  9. US inflation rose 0.4% in October as price increases cooled and gas costs dipped Lauren Aratani
  10. Singapore Central Bank Rolls Out Gold-Vaulting Services to Boost Trading Hub Fabiana Negrin Ochoa

Standard Topic: the latest news on Business and every other topic, researched and analyzed with AI, with sources.