📈 Stocks / Finance

Dow hits another record close as chipmakers surge and retail sales data impress

Reuters

The Dow Jones Industrial Average climbed 0.37%, reaching its fourth record close in five sessions, supported by stronger retail sales and TSMC's upbeat Q4 forecast. TSMC shares jumped 9.8%, while Nvidia gained 0.9%. U.S. retail sales rose 0.4% in September.

Nuclear-backed stocks soar as tech giants invest in future energy

Investors

Oklo, a nuclear startup backed by Sam Altman, has surged 104% in October following Microsoft's contract with Constellation Energy to power data centers. Major players like Amazon and Google are also investing in nuclear technology, contributing to a broader rise in nuclear-related stocks.

US regional banks leverage surging investment banking fees to mitigate rising deposit costs

Reuters

In Q3, US regional banks exceeded profit expectations as increased investment banking fees, driven by a dealmaking revival, offset higher deposit costs. Loan loss provisions rose due to normalization, not broad credit deterioration.

🪙 Crypto

FBI arrests man for SEC account hack linked to bitcoin surge

CNBC

Eric Council Jr. was arrested for a January hack of the SEC’s X account, which caused bitcoin to spike by over $1,000. The hack used a SIM swap attack and resulted in a false tweet regarding bitcoin ETFs. Council faces charges including aggravated identity theft.

🌎 Global Economy

IMF chief highlights persistent global economic challenges

CNBC

IMF Managing Director Kristalina Georgieva warns that high debt and sluggish growth remain significant hurdles for the global economy. While inflation control efforts have seen success, uneven progress and geopolitical tensions pose ongoing risks, particularly in trade and energy markets.

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