Business and Finance News - 11.29.24

Question of the day: What are the key factors that drive inflation?

Inflation is when the prices rise over time, and there are many reasons this happens. It can be because people are buying more than businesses can supply, or because it costs more to make and deliver products. Sometimes, inflation is caused by people expecting prices to rise, leading to higher wages and even higher prices in a cycle. It can also occur if too much money is circulating in the economy or if global events, like rising oil prices or supply chain issues, push costs up. While there are many causes of inflation, governments and central banks work to keep it under control using tools like adjusting interest rates or managing the amount of money in the economy.

*Have a question? Submit it to [email protected].

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Shares of Dell and HP fell sharply after issuing weaker-than-expected forecasts, raising concerns about the PC market's recovery amid slower adoption of AI-enabled computers and delayed upgrades to Windows 11. Dell's AI server revenue remains a bright spot, but supply challenges with Nvidia's Blackwell chips could pressure margins. (Reuters)

Key Insight → There are many challenges facing the PC market, with declining demand for traditional computers and slower-than-expected adoption of AI-enabled PCs casting doubt on recovery prospects. The weak forecasts from HP and Dell, coupled with delays in technological transitions like Windows 11 upgrades and Nvidia's next-gen AI chips, underscore uncertainty in the sector's growth trajectory. This is important as it not only impacts the financial outlook of major tech players but also reflects broader shifts in consumer and corporate technology priorities, signaling a potential reshaping of the PC industry's future.

The FTC is investigating Microsoft over antitrust concerns related to its cloud services, software bundling, cybersecurity offerings, and AI products, following reports of security weaknesses and competitive complaints. The probe may shift direction after President-elect Trump appoints a new FTC chair, though his administration has pursued Big Tech antitrust cases in the past. (The Verge)

Key Insight → This investigation places Microsoft under intense scrutiny, potentially reshaping its operations and market dominance in key areas like cloud computing, cybersecurity, and AI. The FTC's investigation signals a shift toward holding major tech players accountable for their bundling practices and security standards, particularly given Microsoft's critical role in U.S. government technology infrastructure. Additionally, the outcome of this probe could have far-reaching implications, as the incoming administration's influence over the FTC may steer the trajectory of antitrust enforcement in unpredictable ways.

The FCC approved SpaceX's Starlink to provide direct-to-cell service for T-Mobile, marking the first collaboration between a satellite operator and wireless carrier for supplemental cell coverage from space. While the approval aims to eliminate cellular dead zones, the FCC deferred decisions on satellite power limits and further Starlink satellite deployments. (The Verge)

Key Insight → This is significant not only for the future of communication but also as a monumental achievement for SpaceX. By securing the first-ever FCC approval for direct-to-cell satellite service, SpaceX solidifies its leadership in satellite technology and expands its influence in the telecommunications sector. This milestone not only underscores the company’s innovative capabilities but also sets the stage for SpaceX to play a transformative role in bridging the connectivity gap, showcasing its potential to redefine global communication networks.

Here’s how the major indexes did on Wednesday (markets were closed yesterday):

• Dow Jones Industrial Average: 44,722.06 -138.25 (-0.31%)

• S&P 500: 5,998.74 -22.89 (-0.38%)

• Nasdaq Composite: 19,060.48 -115.10 (-0.60%)

• Russell 2000: 2,426.19 +1.88 (+0.08%)

Here’s how The Magnificent Seven did on Wednesday (markets were closed yesterday):

• Apple (AAPL) [3.551T]: 234.93 -0.13 (-0.06%)

• Nvidia (NVDA) [3.314T]: 135.34 -1.58 (-1.15%)

• Microsoft (MSFT) [3.145T]: 422.99 -5.00 (-1.17%)

• Alphabet (GOOGL) [2.072T]: 169.23 +0.11 (+0.07%)

• Amazon (AMZN) [2.163T]: 205.74 -2.12 (-1.02%)

• Meta Platforms (META) [1.437T]: 569.20 -4.34 (-0.76%)

• Tesla (TSLA) [1.069T]: 332.89 -5.34 (-1.58%)

Here’s how Bitcoin and Ethereum did yesterday:

• Bitcoin (BTC): $95,766.66 (11:55PM PST on 11/28/24)

• Ethereum (ETH): $3,545.80(11:55PM PST on 11/28/24)