Today’s most important financial newsYour Evening BriefingNovember...
Today’s most important financial news
Your Evening Briefing
November 03, 2025
Amazon and the AI trade sustain stock gains
The S&P 500 and Nasdaq 100 had a positive start to what is historically the best month of the year for stocks, almost exclusively powered by the AI trade as Amazon announced a $38 billion cloud-computing deal with OpenAI, while the Russell 2000 fell. Consumer discretionary (which includes Amazon) and tech were the best-performing sector ETFs.
Stocks that moved higher:
Nvidia gained as two new AI dealsunderscored demand for its flagship chips.
Micron, the US memory chip specialist, jumped on reports of surging prices for memory chips. Such signs of ongoing AI-related demand for IT hardware also gave a lift to other data storage device makers, such as Seagate Technology Holdings and Western Digital.
Cipher Mining soared after reporting earnings and a $5.5 billion deal with Amazon to provide AI data center capacity and power.
IREN surged after announcing a five-year clouddeal with Microsoft for a total contract value of $9.7 billion.
Giant American drugmakerKimberly-Clark is acquiring Kenvue, the maker of Tylenol whose stock has been pummeled by allegations from the Trump administration that its signature pain reliever causes autism in a deal with an enterprise value of $48.7 billion. Kenvue rose on the news that shareholders will receive $21.01 per share in cash and stock, while Kimberly-Clarkfell.
Stocks that moved lower:
Joby Aviation sank after a report of a delay for the company’s UAE certification, stoking fears that air taxis may befurther awaythan thought. Rival Archer Aviation also fell on the news.
Beyond Meatdropped after delaying its Q3 results to November 11, citing a "material" non-cash chargewhich the company is not yet able to reasonably quantify.
MP Materials, Lithium Americas, Critical Metals, and United States Antimony Corp. fell after the White House said that China’s rollback of export curbs goes further than previously thought.
The 2025 New York City Marathon saw a record number of runners
Almost 60,000 people took part in the NYC Marathon this year — as celebrities, influencers, and hordes of routine-starved young people keep long distance races on trend. Read more.
Texas wants a piece of Wall Street With its long-teased stock exchange, TXSE, winning SEC approval in September, the state is taking aim at a market long-ruled by just two giants.
Options markets signal “optimism peaks” for Magnificent 7 stocks “The number of stocks in the S&P top 100 trading with inverted call skew (a sign of extremely bullish sentiment where the OTM call trades at a higher volatility than the ATM call) has surged to a high of ~20% (vs. historical average of just 3%),” per Cboe.
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