All three major US stock indexes were edging higher in late-morning trading on Tuesday after the Federal Reserve kicked off its policy-setting meeting.
On the economic front, the Bureau of Labor Statistics data show US job openings rose to 7.670 million in October, well above the 7.117 million openings expected in a Bloomberg survey and up from the 7.658 million openings reported in September. The October level represents 4.6% of total employment, unchanged from September and from a year earlier.
In company news, Nvidia (NVDA) is set to face restrictions in China on access to its H200 artificial intelligence chips despite securing US export approval, the Financial Times reported, citing people familiar with the matter. US officials may separately allow H200 sales only to "safe" counterparties in China, the publication quoted the sources as saying. The company's shares were 0.3% down.
Amazon.com (AMZN) drivers at the company's DBK1 facility in the Woodside neighborhood of Queens, New York, have formed a union with Teamsters Local 804, the International Brotherhood of Teamsters said. Over 200 workers marched on management Tuesday morning to deliver the news and demand a union contract. Shares of the company rose 0.5% in recent trading.
CVS Health's (CVS) shares were up 2.6% after the company said it has raised its 2025 adjusted EPS guidance to a range of $6.60 to $6.70, from $6.55 to $6.65. Revenue guidance for the year was raised to at least $400 billion, up from at least $397.3 billion previously.
Alphabet's (GOOG, GOOGL) Google is being investigated by the European Commission to determine whether the company has violated EU competition rules by using content from web publishers and YouTube for artificial intelligence purposes, the Commission said. Separately, Google and Microsoft (MSFT)-backed OpenAI are facing a setback as an Indian government panel has proposed that AI companies be required to pay content creators a share of revenue for using their work to train models, Reuters reported. Shares of Alphabet rose fractionally.
Meta Platforms (META) holds at least a 3% stake in EssilorLuxottica, the European company behind Ray-Ban glasses, Reuters reported, citing Jose Gonzalo, executive director at French state-owned investment bank Bpifrance and an independent director on EssilorLuxottica's board. He added Meta's stake could be as high as 5%, though likely at the lower end. Shares of Meta Platforms fell 1.5% in recent trading.
Pfizer (PFE) said that it has entered into an exclusive global collaboration and license agreement with YaoPharma, a unit of Shanghai Fosun Pharmaceutical, for the development, manufacturing and commercialization of YP05002 for chronic weight management. YaoPharma will receive a $150 million upfront payment and will be eligible to receive up to $1.94 billion in milestone payments as well as tiered royalties on sales, if approved. Shares of Pfizer were down 0.5%.
Price: 184.68, Change: -0.89, Percent Change: -0.48
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