Gold Market - Gold prices have surpassed $4,000 per ounce for the first time, marking a significant milestone in a three-year bull run, with gains of approximately 50% in 2025, 27% in 2024, and 13% in 2023 [2][8] - Analysts at Goldman Sachs have raised their gold price forecast, suggesting it could reach $4,900 an ounce by the end of 2026, driven by strong demand from central banks, a weaker U.S. dollar, and inflows into gold ETFs [3] Amazon Pharmacy - Amazon Pharmacy is introducing electronic kiosks in One Medical offices, starting in Los Angeles in December 2025, to provide immediate access to commonly prescribed medications [4][5] - The initiative aims to address the issue of unfilled prescriptions, allowing patients to order medications via the Amazon app and pick them up shortly after their appointments [5] Temu Investigation - Temu is under investigation by the German Federal Cartel Office for potentially imposing "inadmissible requirements" on third-party merchants regarding pricing on its platform [6][7] - The investigation raises concerns about competition and pricing in the marketplace, with Temu asserting its compliance with local laws and confidence in resolving the issues [7] Google Antitrust Case - Google is fighting to maintain its right to bundle services like Google Maps and YouTube with its Gemini AI service amid ongoing antitrust scrutiny from the Justice Department [9][10] - Prosecutors argue that Google's bundling practices reinforce its market dominance and hinder competition, which could significantly impact how Google integrates its AI offerings [10]

Group 1 - Stakk Limited (ASX:SKK) has seen significant interest, with shares rising as much as +56% on a recent trading day and +562% for the month, driven by a deal with T-Mobile and a previous partnership with Robinhood [2][3] - New Murchison Gold (ASX:NMG) has confirmed that revenue will start coming in next quarter, leading to an increase in shares by +8.7% to 3.2 cents each [4] - 29Metals (ASX:29M) experienced a -21.1% drop in shares following seismic activity at its Xantho Extended orebody, although no injuries were reported [5]

Company Analysis - Marchex, Inc. has a Return on Invested Capital (ROIC) of -15.82% and a Weighted Average Cost of Capital (WACC) of 12.69%, indicating it is not generating returns above its cost of capital, which is a concerning sign for investors [1] - comScore, Inc. shows a ROIC of -22.54% with a WACC of 5.57%, resulting in a ROIC to WACC ratio of -4.05, highlighting significant inefficiencies in generating returns relative to its cost of capital, indicating potential financial struggles [2] - Liquidity Services, Inc. has a ROIC of 10.21% and a WACC of 8.71%, leading to a ROIC to WACC ratio of 1.17, indicating it is generating returns above its cost of capital, making it the most efficient among its peers and an attractive option for investors [3]

Visa Policy Changes - The recent changes to the H-1B visa program are perceived in Beijing as potentially beneficial for China, aligning with the Trump administration's immigration policies [1][4] - Chinese nationals represent nearly 12% of H-1B visa holders, indicating a significant interest from this demographic in U.S. employment opportunities [3] - The rollout of the H-1B changes has been described as chaotic, leading to confusion about its implications for foreign workers [4][5] Employment Opportunities - The K1 visa in China may not offer the same level of employment opportunities as the H-1B visa, which is sought after for well-paying jobs in the U.S. [2] - Despite high youth unemployment in China, sectors like technology, particularly AI, are expected to attract talent, suggesting that those with relevant skills may find job opportunities domestically [4] Corporate Reactions - Major U.S. companies such as Amazon, Microsoft, and Oracle have expressed opposition to the changes in the H-1B visa program, as they rely heavily on foreign talent [7][8] - The conflict between corporate interests and the Trump administration's immigration policy highlights the tension in the current labor market dynamics [8] TikTok Deal Developments - The ongoing negotiations regarding TikTok's operations in the U.S. are centered around control and the potential licensing of technology from China [10][11] - The U.S. administration's approach to the TikTok deal may face legal challenges if it does not comply with existing laws, particularly concerning the algorithm used by the platform [12][16] - Observations indicate that if efforts to include indemnification language in legislation arise, it may signal that the deal structure is not fully compliant with legal requirements [16]

Market Impact - Indian tech services firms' shares experienced a sharp decline [1] - The decline was triggered by President Trump's new $100 thousand fee on H-1B visa applications [1] Policy Change - A new $100 thousand fee was imposed on H-1B visa applications [1]

Core Points - Trump's new visa policy, imposing a $100,000 fee for H-1B applications, significantly impacts India's tech services industry, which is valued at $280 billion and relies heavily on skilled foreign workers [1][6][9] - The recent imposition of 50% tariffs on Indian exports by the Trump administration complicates trade relations, particularly as India continues to purchase oil from Russia [2][4] - The visa changes are expected to shift the focus of India-US trade talks from goods to services, increasing pressure on India's service-driven economy [6][7] Industry Impact - The tech services sector, which constitutes about 55% of India's GDP, faces potential job losses and challenges to its outsourcing models due to the new visa fees [1][6] - The changes in visa policy could lead to a decrease in remittance inflows, which currently amount to nearly $35 billion annually from skilled Indian workers in the US [7] - The tightening of visa regulations may exacerbate the already high youth unemployment rate in India, which is around 40%, and hinder job creation in the domestic market [9][8] Geopolitical Context - The US's demand for India to cease oil purchases from Russia is part of a broader geopolitical strategy, which complicates trade negotiations and may lead to further economic penalties [4][5] - The evolving trade dynamics are increasingly intertwined with geopolitical objectives, making it difficult for India to negotiate favorable terms [5][8] - India's opposition parties criticize the Modi administration for not taking a stronger stance against US pressures, indicating a potential shift in public sentiment regarding US-India relations [10]

Core Viewpoint - The Trump administration's plan to raise the H-1B application fee to $100,000 has created significant concern among international graduate students and companies that rely on skilled immigrant labor, particularly in the tech sector [1][2][3]. Group 1: Impact on Companies - Major companies like Google, Apple, and Meta Platforms employ thousands of H-1B visa holders, and the fee increase could disrupt their recruitment strategies [4]. - The sudden implementation of the fee change has left companies scrambling to understand its implications for their workforce and hiring plans [6][8]. - The new fee structure is expected to make the H-1B visa less accessible for entry-level professionals, potentially harming startups, small companies, nonprofits, and educational institutions [8]. Group 2: Effects on International Students - The H-1B visa is crucial for international graduate students seeking to remain in the US after completing their degrees, with 20,000 out of 85,000 visas issued annually reserved for advanced degree holders [5]. - The overwhelming demand for H-1B visas is evident, as over 470,000 applications were submitted for the 2025 fiscal year lottery [5]. - Many international students are reconsidering their future in the US, with some planning to return to their home countries due to the uncertainty surrounding the visa process [9][12]. Group 3: Legal and Regulatory Concerns - The announcement of the fee increase has been criticized as potentially unlawful, as fees should be linked to processing costs and subject to public comment [7]. - The timing of the announcement has been described as creating chaos, with little time for companies or legal advisors to prepare for the changes [6][7].

Core Points - Large tech companies are advising their H-1B visa employees to remain in the U.S. and avoid foreign travel following President Trump's new proclamation [1][2] - The new proclamation requires employers to pay a $100,000 fee for H-1B visa applications, affecting new applicants but not existing holders or renewals [2][4] - Amazon has issued the most H-1B visas this fiscal year, followed by Tata Consultancy Services, Microsoft, Meta, Apple, and Google [3] Company Responses - Amazon, Google, and Microsoft have communicated to their H-1B visa employees to stay in the U.S. and return before the proclamation takes effect [2][3] - Memos from Amazon and Microsoft have been published, while Google has also issued a similar memo [3] Government Clarifications - A White House official clarified that the new fee applies only to new applicants and does not affect current H-1B holders or their ability to travel [4] - White House Press Secretary stated that existing H-1B visa holders can leave and re-enter the U.S. as they normally would, unaffected by the new proclamation [4]

Core Insights - A new federal policy imposing a $100,000 H1B visa application fee is projected to create over 583,000 new tech jobs for U.S. workers by 2029, making high-paying tech careers more accessible to American STEM students [1][2] - The policy is expected to redirect nearly $98 billion in annual tech salaries to American workers, significantly raising the cost of foreign tech hiring [2] Impact on Major Tech Companies - Major tech companies will face substantial costs to retain H1B talent, with estimated fees of $1.1 billion for Amazon, $550 million for Tata Consultancy Services, $500 million for Microsoft, $450 million for Meta, and $400 million for Google [4] - Companies must choose between absorbing these fees or accelerating the hiring of American workers [4] Regional Job Growth - Job growth will vary by region, with California expected to see 175,000 new H1B positions, followed by New York with approximately 170,000, Texas with 46,000, and Washington State with an estimated 35,000 positions [5] In-Demand Skills and Salaries - The most sought-after skills include Cloud Computing (80,000 positions, average salary $145,000), AI/Machine Learning (70,000 positions, average salary $165,000), Python Programming (65,000 positions, average salary $125,000), Cybersecurity (55,000 positions, average salary $135,000), and Data Analysis (60,000 positions, average salary $115,000) [6] Education and Workforce Readiness - Only 20% of Americans are prepared to fill the new high-paying tech roles, indicating a significant preparation gap [7][11] - The U.S. ranks 34th out of 80 countries in mathematics proficiency, with only 6.4% of students enrolling in foundational computer science classes [11] Pathway to Employment - A three-step approach for American students to secure tech roles includes learning, certification, and acceleration through tutoring [8][12]

Core Viewpoint - Endava PLC has experienced a significant decline in stock price due to disappointing financial results, despite previously beating analysts' expectations on the bottom line [2][5]. Company Overview - Endava PLC (NYSE:DAVA) is a technology company focused on providing digital transformation services to improve business operations through technology solutions [1]. - The company competes with major tech service providers such as Accenture and Cognizant [1]. Stock Performance - Endava's stock price has dropped by 30.81% this week, following a 14.7% increase in August [2][5]. - The stock has fallen 32.1% from the end of last Friday's trading session to Thursday's market close, currently priced at $10.15, with a slight increase of 1.76% or $0.18 today [3][5]. - Over the past year, the stock has reached a high of $34.94 and a low of $9.84, with a current market capitalization of approximately $593.1 million [4]. Financial Results - The decline in stock price is attributed to disappointing fourth-quarter 2025 financial results, which have led to a decrease in investor confidence [2][5]. - Despite past success in growing cash flow from fiscal years 2021 through 2023, recent results have not met investor expectations, contributing to the stock's decline [4].