Market Surges on Trade Optimism, Amazon Prepares for Major Job Cuts

Corporate Restructuring and Job Market Shifts - Amazon is preparing to announce its largest corporate workforce reduction in history, potentially cutting up to 30,000 jobs [2][9] - Paramount-Skydance plans to cut approximately 1,000 jobs as part of a major overhaul [3] - Target has announced cuts of around 1,000 corporate positions and the elimination of 800 vacant roles, indicating a trend of corporate streamlining across various sectors [3] Global Trade Optimism Fuels Market Rally - Wall Street experienced a significant rally, with the S&P 500 reaching record highs, driven by optimism surrounding US-China trade talks [4][5][9] - The S&P 500 achieved its best three-day streak since May, fueled by hopes for a favorable trade deal following President Trump's trip to Asia [4] - Strong earnings from mega-cap tech companies and AI-driven capital expenditure plans contributed to a broad market rally [5] Energy and Technology Partnership - NextEra Energy and Google have formed a 25-year partnership to restart the Duane Arnold nuclear power plant in Iowa, aiming for full operations by early 2029 [6][7] - The partnership is expected to create approximately 400 jobs and underscores a trend of tech companies investing in sustainable energy sources [7] Sectoral and International Economic Updates - NXP Semiconductors issued a stronger-than-anticipated forecast, indicating robust demand in its core markets [8] - OpenAI emphasized the need for the U.S. to enhance its power infrastructure to maintain competitiveness in Artificial Intelligence, stating that "Electrons are the new oil" [8] Additional Updates - South Korea's consumer sentiment index saw a slight decline, falling to 109.8 from 110.1, indicating a marginal cooling in consumer confidence [9][12] - Rio Tinto announced ongoing consultations regarding the future of its Tomago Aluminium smelter, with no final decision made yet [10] - A U.S. judge dismissed a class action claim against Apple concerning alleged antitrust market control of iPhone apps [11]