Market Overview - Major U.S. indices experienced declines, with the Dow Jones Industrial Average down by 245.96 points (-0.51%) to 48,458.05, and the Nasdaq down by 398.69 points (-1.69%) to 23,195.17 [2] - European indices also fell, with the European Stoxx 50 down by 33.25 points (-0.58%) to 5,720.71, and the German DAX down by 108.12 points (-0.45%) to 24,186.49 [2] - In contrast, Asian markets showed positive performance, with the Hang Seng Index up by 446.28 points (1.75%) to 25,976.79 and the Shanghai Composite Index up by 16.03 points (0.41%) to 3,889.35 [2] U.S.-Ukraine Talks - U.S. Special Envoy Whitaker announced significant progress in U.S.-Ukraine talks held in Berlin, focusing on peace plans and economic agendas [3] - Key topics included territorial issues, security guarantees, and the frozen assets of the Russian central bank held by the EU [3] Federal Reserve Leadership - Hassett, a candidate for the Federal Reserve chair, stated he would consider Trump's policy opinions but emphasized the independence of the Fed's rate decisions [4] - He clarified that the President's opinions would not carry equal weight in policy-making and that decisions would be based on data [4] Belarus Sanctions - U.S. Special Envoy Cole announced the lifting of sanctions on Belarusian potash fertilizer following discussions with President Lukashenko [5] - Potash is a critical component of fertilizers, and the announcement did not specify any conditions for Belarus's concessions [5] Ukrainian Elections - President Zelensky informed Ukrainian parliament members to prepare for potential upcoming elections, emphasizing readiness for any changes [6] - He mentioned receiving signals from the U.S. regarding the presidential elections but refrained from commenting on their implications [6] Australian Terror Attack - The Australian police classified a shooting incident in Bondi Beach as a terrorist attack, resulting in 12 fatalities [7] - Investigations are ongoing, including the handling of suspected explosives at the scene [7] South Korean Currency Concerns - The South Korean won fell to an eight-month low against the dollar, prompting the finance minister to convene an emergency meeting to discuss market responses [8] - The exchange rate reached 1,479.9 won per dollar, marking the lowest level since April 9 [8] Chilean Presidential Election - José Antonio Kast of the far-right Chilean Republican Party won the presidential election and is set to take office on March 11, 2026 [9] Nvidia's Chip Production - Nvidia is considering increasing the production of its H200 AI chips due to strong demand from Chinese customers [10] - The company is evaluating its capacity to meet the rising orders but has not yet confirmed any production increases [10] SpaceX IPO Preparations - SpaceX has initiated a selection process for investment banks to advise on a potential IPO, with several firms expected to submit proposals [11] - The CFO indicated that if market conditions are favorable, the IPO could raise significant funds, although the timing remains uncertain [12] Tesla Sales Decline - Tesla's U.S. sales in November fell to approximately 39,800 vehicles, a nearly 23% year-over-year decline, marking the lowest monthly sales in four years [13] - The drop is attributed to the expiration of federal tax credits for electric vehicles, leading consumers to consider other options [13] OpenAI's Equity Policy Change - OpenAI announced the cancellation of its six-month equity vesting policy for new employees, aiming to encourage innovation without the fear of job loss [14] - This change follows a previous reduction of the vesting period from 12 months to six months earlier this year [14] Nasdaq 100 Index Adjustments - The Nasdaq announced the inclusion of six new companies in its 100 Index, effective December 22, 2025 [15] - The newly added companies are Alnylam Pharmaceuticals, Ferrovial, Insmed, Monolithic Power Systems, Seagate, and Western Digital [15]

Core Viewpoint - Strategy (MSTR), a firm heavily invested in Bitcoin, will remain in the Nasdaq 100 index despite the annual reshuffle that removed several well-known companies [1] Group 1: Company Overview - Strategy, originally a business software provider, shifted its focus to accumulating Bitcoin as its primary strategy in 2020, amassing 660,624 BTC valued at $59.55 billion [1] - The firm was added to the Nasdaq 100 index in December 2022 [1] Group 2: Performance and Business Model - Unlike traditional companies, Strategy's performance is closely linked to Bitcoin's price, which has led to criticism from analysts who argue it functions more as a Bitcoin investment vehicle than a conventional business [2][3] - The business model of buying and holding large amounts of cryptocurrency has inspired similar strategies among smaller firms [2] Group 3: Index Inclusion and Criticism - Concerns have been raised by MSCI, a major index provider, regarding the classification of crypto treasury companies like Strategy, with a decision expected in January on their potential exclusion from benchmarks [3] - Strategy has defended its classification as a tech company due to its business intelligence operations, countering MSCI's proposal to exclude such companies by asserting they are operating businesses rather than investment funds [4] Group 4: Nasdaq 100 Index Changes - In the recent rebalance of the Nasdaq 100 index, six companies were dropped, including Biogen, Lululemon, and Trade Desk, while new additions included Alnylam Pharmaceuticals, Ferrovial, and Seagate Technology [4] - The changes to the index will take effect on December 22 [4]

Inclusion showcases a strong U.S. market presence and commitment to long-term shareholder value AMSTERDAM, Dec. 13, 2025 /PRNewswire/ -- Ferrovial, a leading global infrastructure company, today announced its inclusion in the Nasdaq-100 Index®, marking a significant milestone in its global growth strategy. This achievement comes one and a half years after the company's initial listing on the U.S. stock market. "Ferrovial's inclusion in the Nasdaq-100 highlights the strength of our distinctive integrated bus ...

Group 1 - Strategy (MSTR) remains in the Nasdaq 100, continuing its year-long presence amid questions regarding its business model [1][3] - Analysts have raised concerns about the sustainability of crypto treasury companies, which are highly sensitive to bitcoin price fluctuations [2] - Nasdaq is set to remove several companies from its benchmark index, while new entrants include Alnylam Pharmaceuticals and Seagate Technology [2] Group 2 - Strategy transitioned from a software company to a bitcoin investment firm in 2020 and was included in the Nasdaq 100 under the technology sub-category [3] - MSCI has expressed concerns about the inclusion of digital-asset treasury companies in its benchmarks, with a decision expected in January regarding Strategy's status [3] - The changes to the Nasdaq index are scheduled to take effect on December 22 [4]

Core Viewpoint - Spanish construction giant Ferrovial is exploring further investment opportunities in airports across the United States after successfully completing a significant terminal overhaul at New York's John F. Kennedy Airport [1] Group 1: Company Developments - Ferrovial has recently completed a major renovation of the terminal at John F. Kennedy Airport, which has positioned the company to seek additional airport investment opportunities in the U.S. market [1] - The company’s experience in large-scale infrastructure projects is expected to enhance its competitive edge in future airport investments [1] Group 2: Industry Insights - The U.S. airport sector is seen as a growing area for investment, particularly in light of increasing passenger traffic and the need for modernization of existing facilities [1] - Ferrovial's strategic focus on U.S. airports aligns with broader trends in the construction and infrastructure industry, where public-private partnerships are becoming more prevalent [1]

Core Insights - The New Terminal One at JFK International Airport has selected JLL for comprehensive facility maintenance services, emphasizing technological integration and sustainability [1][2] - The terminal is part of a $19 billion transformation of JFK Airport, aiming to enhance its status as a global gateway [1] - The New Terminal One is set to open in 2026, featuring 23 gates and covering 2.6 million square feet, making it the largest terminal at JFK [1] Company Overview - JLL is a global leader in real estate and facility management, with over 200 years of experience and annual revenue of $23.4 billion [1] - The company specializes in strategic real estate advisory for aviation authorities, airlines, and airport-related enterprises [1] - JLL's specialized aviation team manages the entire real estate lifecycle, including facilities management and operational optimization [1] Project Details - The New Terminal One will serve leading airlines and aims for a top 5-star Skytrax rating, reflecting a commitment to high standards in design and service [1] - The project is being constructed in phases, with full completion expected by 2030, and the first phase to open in 2026 [1] - The terminal construction emphasizes local inclusion and diversity, targeting participation goals for minority-owned, women-owned, and service-disabled veteran-owned businesses [1]

Core Insights - Ferrovial emphasizes risk management and digital innovation as essential for timely and budget-compliant project completion [1][3] - The company has expanded its U.S. operations, achieving significant revenue growth across all divisions in the first nine months of 2025 [2] Group 1: Risk Management and Strategy - The CEO of Ferrovial Construction highlights the importance of early risk management, especially in light of labor shortages and economic volatility [3] - Ferrovial's integrated business model allows for a proactive approach to balancing long-term investments with short-term market dynamics, particularly in high-growth metropolitan areas [4] - The I-66 project in Virginia exemplifies the company's ability to manage short-term pressures while ensuring timely and budget-compliant project delivery [5] Group 2: Collaboration and Risk Allocation - Ferrovial collaborates with partners, subcontractors, and technology providers to tailor risk management strategies for complex infrastructure projects [7] - The company employs contractual structures like joint ventures and public-private partnerships to formalize risk allocation, ensuring that risks are assigned to the parties best equipped to manage them [8]

Ferrovial reports 3rd quarter EPS missed analyst estimates, while revenue came in in line with the consensus view. The company cites highway business in North America region adds profits to revenue. Ferrovial's CEO Ignacio Madridejos discusses the company's outlook on "Bloomberg Markets" with Scarlet Fu. ...

Core Insights - Ferrovial reported substantial revenue growth across all business divisions for the first nine months of 2025, with adjusted EBITDA improving primarily due to U.S. highway assets [1][2][3] Financial Performance - Adjusted EBITDA reached €1 billion, reflecting a 4.8% year-over-year increase in like-for-like terms, while total revenue amounted to €6.9 billion, a 6.2% rise in like-for-like terms [3][10] - The company maintained a strong financial position with liquidity of €4.2 billion and consolidated net debt of -€706 million, excluding infrastructure projects [4][10] Business Divisions - The Highways division experienced a revenue growth of 14.4% in like-for-like terms, driven by strong performance in North America, which contributed €312 million in dividends [5][6] - The Construction division's order book reached €17.2 billion, with North America accounting for 47% of the total [7][10] - The Airports division is progressing with the New Terminal One project, having secured 21 commercial agreements with airlines as of October 28 [7] Dividends and Shareholder Returns - The 407 ETR announced an additional dividend of €1.05 billion to be distributed in the last quarter of the year, bringing the total approved dividends to €1.5 billion [6]

Core Insights - DXC Technology has launched Xponential, a next-generation AI orchestration blueprint aimed at simplifying large-scale AI adoption for enterprises [1][2] - The framework integrates people, processes, and technology to deliver measurable results and accelerate modernization while ensuring secure and responsible AI operationalization [1][2] Company Overview - DXC Technology is a leading global provider of information technology services, recognized as a trusted partner for innovative organizations [6] - The company employs a global team of 50,000 full-stack engineers and operates AI-first facilities across six continents to support AI deployment and scaling [3] Xponential Framework - Xponential consists of five interdependent pillars: Insight, Accelerators, Automation, Approach, and Process, designed to facilitate AI orchestration across enterprises [4] - The framework emphasizes embedded governance, compliance, and observability to ensure responsible AI usage from the outset [4] Case Studies - At Textron, DXC implemented AI-powered automation, resulting in a 20% reduction in service desk tickets and proactive resolution of network issues for 32,000 employees [4] - The European Space Agency is collaborating with DXC to develop ASK ESA, an AI platform that enhances data unification and research acceleration [4] - Singapore General Hospital partnered with DXC to create the AI2D solution, achieving 90% accuracy in guiding antibiotic choices for respiratory infections [4] - Ferrovial is utilizing DXC's AI Workbench to enhance operations for over 25,500 employees through generative AI solutions [4]