Core Insights - The performance divergence between the Dow Jones Industrial Average and Nasdaq Composite indicates the existence of two distinct markets in the U.S.: one driven by artificial intelligence and another encompassing traditional sectors [1][4]. Group 1: Dow Jones Industrial Average - The Dow Jones Industrial Average reached a record high, closing above 48,000 for the first time, marking its second consecutive record [1]. - The index, consisting of 30 blue-chip companies, is primarily composed of established firms in sectors like banking, healthcare, and industrials, reflecting the "old economy" [2]. - Key contributors to the Dow's rise included stocks from Goldman Sachs, Eli Lilly, and Caterpillar [2]. Group 2: Nasdaq Composite - The Nasdaq Composite, which is heavily weighted towards technology firms, experienced a decline due to falling shares of companies like Oracle and Palantir, despite a 9% increase in Advanced Micro Devices' stock [4]. - The Nasdaq's market capitalization weighting means that larger tech companies have a more significant impact on its performance compared to the price-weighted Dow [3]. Group 3: Market Sentiment - There is no immediate concern regarding overexuberance in AI investments, but a desire exists among investors for a convergence of the two market paths for a more stable investment environment [5].

Core Insights - Firefly Aerospace's stock increased by 15% following the release of better-than-expected third-quarter results and an upward revision of its revenue guidance [1][2] - The company reported a revenue increase of nearly 38%, reaching $30.8 million compared to $22.4 million in the same quarter last year, and nearly doubling from the previous quarter [1][2] - Despite the revenue growth, Firefly reported a net loss of $140.4 million, or $1.50 per share, which included costs related to its IPO, foreign exchange, and executive severance [2] Financial Performance - The revised revenue outlook for the year is now between $150 million and $158 million, an increase from the previous guidance of $133 million to $145 million [2] - This marks Firefly's second quarterly report as a public company, following a previous quarter where shares fell due to a larger-than-expected loss and lower revenues [3] Market Context - Firefly Aerospace went public on the Nasdaq in August 2025 amid growing interest in space technology, supported by increased contracts from the U.S. government and NASA for moon missions [3] - However, the company's shares have decreased by 70% since their initial public offering, with market capitalization dropping from approximately $8.5 billion to about $2.7 billion [4] Recent Challenges - In September, Firefly's shares fell after a rocket explosion during a ground test, which occurred shortly after receiving FAA clearance for a separate incident [5] - The company has implemented "corrective measures" following the incident, but shares have continued to decline, dropping 35% in September and 24% in October [5] Strategic Developments - In July, Firefly secured a nearly $177 million contract with NASA for a moon mission, indicating strong government support [6] - The company also announced the acquisition of defense tech firm SciTec in October to enhance its national security portfolio [6]

Core Insights - Cisco reported better-than-expected profit and revenue for its fiscal first quarter, with a revenue increase of 8% to $14.88 billion and net income rising to $2.86 billion, or 72 cents per share [1][5] - This marks the fourth consecutive quarter of growth for Cisco after a period of revenue declines, driven by a strong performance in its networking business, which saw a 15% increase in sales [2] Financial Performance - Revenue for the fiscal first quarter was $14.88 billion, exceeding the expected $14.77 billion, while adjusted earnings per share were $1.00 compared to the expected 98 cents [5] - For the fiscal second quarter, Cisco anticipates revenue between $15 billion and $15.2 billion, surpassing the average estimate of $14.6 billion, with adjusted earnings projected at $1.01 to $1.03 per share [3] - Full fiscal year revenue is expected to be between $60.2 billion and $61 billion, with earnings per share forecasted at $4.08 to $4.14, compared to analyst expectations of $59.7 billion and $4.04 EPS [4] Business Segments - The networking business, Cisco's largest unit, reported a 15% sales increase to $7.77 billion, outperforming the expected $7.47 billion [2] - However, the security unit experienced a 2% revenue decline to $1.98 billion, missing the average estimate of $2.16 billion, and collaboration sales fell 3% to $1.06 billion, below the expected $1.09 billion [4][5] Market Trends - Growth in data center spending is primarily driven by artificial intelligence investments, with Cisco reporting $1.3 billion in AI infrastructure orders from hyperscaler customers, indicating significant growth acceleration [3] - Cisco is positioning itself to capitalize on the AI boom, having recently introduced a new Ethernet switch based on Nvidia silicon [3]

Core Insights - Cisco reported better-than-expected profit and revenue for its fiscal first quarter, with revenue increasing 8% to $14.88 billion and net income rising to $2.86 billion, or 72 cents per share [1][4] - This marks the fourth consecutive quarter of growth for Cisco after a period of four consecutive year-over-year revenue declines [2] - The company's networking business, its largest unit, experienced a 15% sales increase to $7.77 billion, surpassing analyst expectations [2] Financial Performance - Revenue for the fiscal first quarter was $14.88 billion, compared to $13.84 billion in the same period a year earlier, reflecting an 8% increase [1] - Net income rose to $2.86 billion from $2.71 billion year-over-year, translating to earnings of 72 cents per share, up from 68 cents [1] - For the fiscal second quarter, Cisco anticipates revenue between $15 billion and $15.2 billion, exceeding the average estimate of $14.6 billion [4] Market Trends - Growth in data center spending is primarily driven by artificial intelligence investments, with companies focusing on servers equipped with graphics processing units, mainly from Nvidia [3] - Cisco is aligning itself with the AI trend, having recently introduced a new Ethernet switch based on Nvidia silicon [3] Stock Performance - Cisco shares have increased by 25% this year, outperforming the Nasdaq's 21% gain [4]

Susan Collins, president and chief executive officer of the Federal Reserve Bank of Boston, during a Bloomberg Television interview at the Kansas City Federal Reserve's Jackson Hole Economic Policy Symposium in Moran, Wyoming, US, on Friday, Aug. 22, 2025.Boston Federal Reserve President Susan Collins on Wednesday said she will be reluctant to support further interest rate cuts anytime soon with inflation still high and policymakers hampered by a lack of data due to the government shutdown."Given my baselin ...

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Markets: Stocks were mixed Wednesday as Wall Street hoped for an end to the government's record-breaking shutdown. The House is set for a final vote in the evening on the Senate-backed bill that could reopen the federal government. The Dow hit an all-time high earlier in the session. The S & P 500 and Nasdaq were under some pressure as te ...

Skims underwear is displayed on a shelf at a Nordstrom store on March 25, 2025 in Corte Madera, California.Kim Kardashian's Skims brand has raised $225 million in new funding led by Goldman Sachs Alternatives, valuing the shapewear and apparel company at $5 billion — up from roughly $4 billion after its 2023 round.The deal comes as Skims nears $1 billion in annual net sales, six years after its 2019 launch, and marks one of the largest private raises for a U.S. consumer brand this year. BDT & MSD Partners' ...

Core Points - The Supreme Court will hear arguments regarding President Trump's authority to fire Federal Reserve Governor Lisa Cook on January 21 [1] - Trump announced on August 25 that he was firing Cook, alleging mortgage fraud related to her properties [1] - Cook denies any wrongdoing and has filed a lawsuit to prevent her removal [2] Legal Proceedings - A federal district court judge ruled in early September that Cook could not be removed while her lawsuit is ongoing [2] - The U.S. Court of Appeals for the District of Columbia upheld this ruling, prompting Trump to seek a Supreme Court decision on his firing authority [2]

Core Insights - Rising electricity prices are causing political backlash against the AI industry's data centers, with Democrats blaming the Trump administration for not addressing affordability issues ahead of the mid-term elections [2][5] - Recent election victories for Democrats in states like Virginia and New Jersey have led to promises to hold data centers accountable for rising electricity costs [3][4] Electricity Price Increases - Residential electricity prices in the U.S. increased by an average of 6% in August 2024 compared to the same period in 2023, with New Jersey seeing a 21% rise, Virginia 13%, and Georgia 5% [6] - The PJM Interconnection, which serves New Jersey and Virginia, has seen capacity costs soar from $2.2 billion in late 2022 to $16.1 billion in 2024, largely attributed to data centers [9][10] Data Center Impact - Data centers are significantly contributing to rising electricity bills, with the demand for electricity from these facilities expected to increase dramatically, adding the equivalent of a large city's worth of users annually [8][12] - The capacity market's current conditions are primarily driven by large load additions from data centers, which are expected to continue impacting household electricity costs [10][13] Political Responses - Democratic senators are criticizing the Trump administration for its energy policies, claiming they exacerbate the affordability crisis by undermining renewable energy initiatives [14][16] - The Data Center Coalition has stated its commitment to covering the full cost of energy services, suggesting a potential shift in responsibility for rising costs [17]

White House Press Secretary Karoline Leavitt speaks during the daily press briefing in the Brady Press Briefing Room at the White House on Nov. 12, 2025 in Washington, DC.Key economic reports for October may not be released at all because of the government shutdown, a senior White House official said Wednesday.With the spending impasse appearing to be near an end, White House press secretary Karoline Leavitt told reporters that part of the fallout could be lasting damage to the government's data collection ...