Unemployment rate rises, Tesla's 2025 turnaround, Siri's AI upgrade and more in Morning Squawk

Market Overview - The S&P 500 experienced its third consecutive day of losses, influenced by recent jobs data indicating low hiring and firing rates, which did not significantly alter expectations for a potential interest rate cut in January [1][5]. Tesla - Tesla's shares rose by 3%, achieving new intraday and closing highs, driven by optimism surrounding the company's robotaxi initiatives [2][3]. - Year-to-date, Tesla's stock has increased by 21%, recovering from a 36% decline in the first quarter, following CEO Elon Musk's announcement of testing driverless vehicles in Austin [3]. - However, Tesla faces challenges as a California judge ruled its marketing of "Autopilot" and "Full Self-Driving" features as deceptive, with a 60-day deadline to address the issues or risk a sales license suspension [4]. Warner Bros. Discovery - The board of Warner Bros. Discovery unanimously advised shareholders to reject Paramount Skydance's takeover bid, labeling the offer as "inadequate" [4]. - Paramount's hostile bid followed Netflix's announcement of a $72 billion deal for Warner Bros. Discovery's film and streaming assets, which was characterized by a compelling cash offer and high termination fee [4][6]. Affordable Care Act - The U.S. House Speaker announced that there would be no vote on extending enhanced Affordable Care Act tax credits this week, likely leading to the expiration of these subsidies at year-end [7][8]. - Approximately 22 million Americans benefit from these enhanced subsidies, and their expiration could result in average premium increases of over 100% next year [8]. Apple - Apple has plans to launch an upgraded version of its AI voice assistant, Siri, in 2026, after delaying the original release scheduled for 2025 [10][11]. - This upgrade is viewed as a strategic move for Apple to compete with other major players in the AI space, such as OpenAI and Google [11]. Luxury Market - Auction prices for iconic Birkin and Kelly bags are declining, attributed to reduced demand from aspirational luxury consumers facing inflation and a slowing labor market, alongside an increase in secondhand Birkins available [12].