What we’re reading (10/27)
“The Good Vibes Are Back On Wall Street” (Wall Street Journal). “From trade deals and foreign elections to merger announcements to corporate earnings, investors are finding plenty of reasons to be happy. Stocks hit fresh records on Monday, marking a significant pickup in momentum after a bumpy stretch in which tariff fears and worries about loan losses at regional banks weighed on major indexes.”
“Why Your Beef, Bananas And Coffee Beans Have Gotten So Expensive” (CBS News). “Banana prices were up 6.9% in September from a year ago, ground beef has risen 12.9% and roasted coffee has jumped an eye-watering 18.9%, according to the most recent Consumer Price Index data for September. And now for the bad news. ‘One of the questions that I'm asked a lot is, when are prices coming down? And my answer is simple: never,’ Phil Lempert, food industry analyst and editor of SupermarketGuru, told CBS News.”
“Qualcomm Announces AI Chips To Compete With AMD And Nvidia — Stock Soars 11%” (CNBC). “The AI chips are a shift from Qualcomm, which has thus far focused on semiconductors for wireless connectivity and mobile devices, not massive data centers. Qualcomm said that both the AI200, which will go on sale in 2026, and the AI250, planned for 2027, can come in a system that fills up a full, liquid-cooled server rack.”
“Amazon To Lay Off Up To 30,000 Corporate Workers” (Wall Street Journal). “Thousands of corporate pink slips are expected to go out Tuesday, cutting across the organization and hitting human resources, cloud computing, advertising and a number of other business units, the people said. The total number of reductions hasn’t been finalized, one of the people said.”
“Tesla ‘May Lose’ Elon Musk If Shareholders Don’t Approve $1 Trillion Pay Package, Chairperson Warns” (Yahoo! Finance). “In a letter sent to shareholders Monday morning, which follows a prior letter sent last week, Denholm warned the company stands to lose Musk's leadership if shareholders do not approve the plan. The proposed package — revealed in early September—would grant Musk 12 massive tranches of stock options tied to targets the board argues are aggressive.”
