Trending Market News

E-commerce stocks rallied Friday after the Supreme Court struck down President Trump's global tariffs in a 6-3 ruling, determining he lacked legal authority to impose them under the International Economic Powers Act. The decision provides relief to online retailers that have faced margin pressure, price increases, and supply chain disruptions from the tariffs.

• Amazon rose over 1% while Etsy jumped 5%, with Shopify, eBay, and Wayfair each climbing more than 3% following the ruling
• Trump's removal of the de minimis exemption had particularly impacted small businesses on platforms like Etsy and forced Temu and Shein to restructure their direct-from-China shipping models
• Amazon has paid approximately $3.3 billion in tariffs so far, and companies may now seek refunds on previously paid tariff costs

Lucid is laying off 12% of its U.S. workforce as the electric-vehicle maker pursues improved gross margins and long-term growth. The cuts affect the company's approximately 6,800 global employees as of December 31, 2024, but will spare hourly production workers at its Arizona manufacturing facility.

• The layoffs represent roughly 816 employees based on Lucid's global workforce of 6,800 as of year-end 2024
• Hourly production employees at the company's Arizona manufacturing facility are exempt from the workforce reduction
• The restructuring is aimed at improving gross margin performance and positioning the EV maker for long-term growth

A federal judge in Miami upheld a $243 million verdict against Tesla related to a fatal 2019 crash involving a Model S equipped with Autopilot. Judge Beth Bloom ruled that trial evidence strongly supported the verdict and that Tesla failed to present new arguments warranting reversal of the jury's decision.

• U.S. District Judge Beth Bloom rejected Tesla's request to overturn or reduce the $243 million award to victims of the 2019 Autopilot crash
• The court found that evidence presented at trial 'more than supported' the jury's verdict against Tesla
• Tesla's post-trial motions were denied as the company raised no new legal arguments sufficient to set aside the substantial damages award

Grail's stock dropped after its large-scale NHS trial of the Galleri multi-cancer screening test failed to meet its primary endpoint of statistically significant reduction in late-stage cancer diagnoses. The setback comes weeks after the company filed for FDA approval based on a smaller U.S. trial and first-year data from the three-year NHS study involving over 142,000 participants aged 50-77.

• The NHS trial of 142,000+ participants did not achieve statistical significance for reducing late-stage cancer diagnoses, though Grail noted 'a favorable trend was observed over time'
• Grail's FDA submission relies on data from a 25,000-participant U.S. study and first-year NHS results; analysts believe FDA approval is not at material risk but CMS Medicare coverage decisions remain uncertain
• A new law signed by President Trump allows Medicare coverage of multi-cancer detection tests starting in 2028, though CMS may prioritize U.S.-based study data over the NHS trial endpoints

U.S. GDP grew at just 1.4% in Q4 2025, significantly below the 2.5% estimate, primarily due to a government shutdown that subtracted approximately 1 percentage point from growth. Meanwhile, core PCE inflation remained elevated at 3%, well above the Federal Reserve's 2% target, complicating the central bank's monetary policy decisions.

• The government shutdown from October 1 to November 12 reduced GDP growth by about 1 percentage point, with federal spending plunging 16.6% during the quarter
• Consumer spending slowed to 2.4% growth from 3.5% in Q3, while exports declined 0.9% after surging 9.6% the previous quarter
• Core PCE inflation rose to 3% in December, up 0.2 percentage points from November, keeping price pressures well above the Fed's 2% target and suggesting continued caution on rate cuts

Bath & Body Works launched an authorized storefront on Amazon, marking a strategic shift to meet customers where they shop. The move leverages Amazon's logistics network while allowing Bath & Body Works to retain inventory ownership and pricing control. Amazon dominates the online beauty market with 47% share in the U.S., making it a critical channel for reaching consumers.

• Bath & Body Works will use Amazon's fulfillment network for Prime-eligible shipping while maintaining ownership of inventory and pricing, unlike traditional wholesale arrangements
• Amazon holds 47% of the U.S. online beauty and personal care market, far ahead of second-place Sephora at 9%, making it the top destination for beauty shoppers
• Other vertically integrated brands like Gap, J. Crew, and Everlane have similarly embraced Amazon as a logistics partner rather than viewing it purely as a competitive threat

Oil prices reached six-month highs after U.S. President Trump warned Iran of 'really bad things' unless a nuclear deal is reached within 10-15 days. The threat of potential military action against Iran has raised concerns about supply disruptions in the oil-rich Middle East. Despite geopolitical tensions, analysts believe any conflict would likely be short-lived due to domestic political considerations.

• Brent crude futures traded near $71.53 per barrel and WTI near $66.30, both at six-month highs, as markets monitor supply risks from potential U.S.-Iran military conflict
• Trump gave Iran a 10-15 day deadline for a nuclear deal, with reports suggesting the White House has military action plans in place as soon as this weekend
• Barclays strategists expect any conflict to be 'short lived' and time-limited, noting the administration's focus on midterm elections and keeping prices affordable for U.S. consumers

The United States is in active negotiations with India to supply Venezuelan oil as part of efforts to reduce India's dependence on Russian crude. Under an interim trade deal, the U.S. agreed to cut tariffs on Indian goods to 18% after India committed to ending Russian oil purchases, which the U.S. says funds Russia's war in Ukraine. The Department of Energy is coordinating with India's Ministry of Energy, with the deal expected to take effect in April 2026.

• Trump cut tariffs on Indian goods to 18% and removed a 25% punitive levy after India agreed to stop buying Russian oil, which it had purchased at discounted prices since 2022 sanctions
• The U.S. has granted licenses to trading houses Vitol and Trafigura to supply millions of barrels of Venezuelan oil to India, following the capture of Venezuela's president and a supply agreement with the interim government
• Major Indian refiners including state-run IOC, HPCL, BPCL and private-sector refiners Reliance and Nayara Energy have already ordered Venezuelan oil to replace Russian supplies

European stock markets are poised to open higher on Friday, with London's FTSE expected to rise 0.5%, Germany's DAX 0.3%, and France's CAC 0.6%. Investors are monitoring geopolitical tensions after U.S. President Trump indicated he would decide on potential military action against Iran within 10 days, while awaiting key economic data and corporate earnings reports.

• Traders are expecting U.K. retail sales data, German producer prices, and PMI flash readings across major European economies
• Multiple European companies are scheduled to report earnings on Friday, adding to market movement drivers
• U.S. markets declined overnight due to falling private credit stocks and Middle East tensions, while Asian markets were mostly lower

Sweden's Financial Supervisory Authority announced an investigation into Swedbank to determine whether the bank has complied with anti-money laundering customer knowledge requirements. The investigation covers December 2023 to November 2025 and will examine the bank's customer due diligence measures. Swedbank has not yet commented on the regulatory probe.

• The FSA investigation will specifically assess Swedbank's customer due diligence measures over a two-year period from December 2023 to November 2025
• Sweden's financial regulator emphasized that customer knowledge is a prerequisite for banks to combat financial crime, which it described as 'an international problem that threatens both society and the financial system'
• Swedbank did not immediately respond to requests for comment when contacted by Reuters about the investigation

President Trump announced that Novartis CEO Vas Narasimhan told him the Swiss drugmaker is building 11 U.S. plants, crediting his tariff policies. Novartis confirmed recent groundbreakings in North Carolina and California and plans for a Florida facility but did not specify the total number of planned facilities. The company had previously announced a $23 billion plan to build and expand 10 U.S. facilities after Trump threatened drug import duties.

• Trump claimed Novartis is building 11 U.S. plants due to his tariff policies, though the company's statement did not confirm this specific number
• Novartis previously announced a $23 billion investment plan last year to build and expand 10 U.S. facilities following threats of drug import tariffs
• The company confirmed recent groundbreakings in North Carolina and California, plus plans for a new radioligand therapy manufacturing site in Florida

Workers at Volkswagen's Chattanooga, Tennessee plant voted to approve their first contract with the United Auto Workers union. This marks a major victory for UAW President Shawn Fain and represents a significant breakthrough for organized labor in the traditionally union-resistant South.

• The contract approval solidifies the factory's first-ever union agreement with the UAW
• This represents one of the most significant achievements during UAW President Shawn Fain's tenure
• The vote is a landmark win for labor organizing efforts in Southern states, where unionization has historically faced strong resistance

Nvidia is nearing completion of a $30 billion investment in OpenAI, which will replace a previously agreed $100 billion long-term commitment from last year. The investment is part of a new funding round for the AI startup, according to a Financial Times report citing unnamed sources.

• The $30 billion investment replaces a larger $100 billion commitment that was agreed upon between Nvidia and OpenAI in the previous year
• The deal is part of OpenAI's new funding round, suggesting a restructuring of the financial relationship between the chip maker and AI company
• Reuters has not independently verified the Financial Times report

HSBC cut 10% of its U.S.-based debt capital markets team, letting go at least six employees in New York, according to Bloomberg News. The layoffs are part of ongoing cost-reduction efforts following a business revamp announced in October 2024.

• At least six New York-based employees were terminated on Thursday as part of the 10% reduction
• The cuts continue HSBC's cost-cutting initiatives tied to a broader business restructuring announced last October
• HSBC did not immediately respond to Reuters' request for comment on the reported layoffs

Live Nation Entertainment exceeded fourth-quarter revenue expectations, reporting $6.31 billion versus estimates of $6.11 billion, driven by strong demand for live concerts. The company saw global attendance reach 159 million fans in 2025, up from 151 million the prior year. This performance comes as a federal antitrust lawsuit against the company proceeds to trial in March.

• Concert segment revenue rose 12% to $5.15 billion, beating estimates of $4.93 billion, while ticketing revenue remained essentially flat at $846.2 million
• Early 2026 ticket sales increased by double digits to approximately 67 million fans, with over 80% of large-venue shows already booked
• Analysts note renewed investor interest in 'AI-resistant' businesses like live entertainment, while a federal judge allowed an antitrust lawsuit alleging anticompetitive practices to proceed to trial

NASA Administrator Jared Isaacman publicly criticized Boeing and NASA leadership over the failed Starliner spacecraft mission that stranded two astronauts on the International Space Station for nine months. The agency released a 300-page report detailing technical and oversight failures from the spacecraft's first crewed flight in 2024.

• NASA astronauts Butch Wilmore and Suni Williams were left on the ISS for approximately nine months due to Starliner mission failures
• A 300-page investigative report was released examining both technical malfunctions and leadership oversight issues
• The public rebuke from NASA's administrator represents significant accountability measures against Boeing's troubled commercial crew program

Walgreens is laying off over 600 employees across the U.S. following its acquisition by private equity firm Sycamore Partners, including 469 jobs in Illinois and 159 in Texas where a distribution center is closing. The cuts are part of Sycamore's cost-reduction strategy after taking the distressed retailer private last year amid competition from Amazon and Walmart.

• Sycamore Partners is implementing cost cuts including workforce reductions and eliminating paid holidays for some employees while adding products like electronic cigarettes to boost sales
• Walgreens was taken private last year after struggling with costly missteps and margin pressure from lower-priced competitors like Amazon and Walmart
• Sycamore Partners specializes in acquiring distressed retailers for profit, with a portfolio including Staples, Talbots, and Nine West

Johnson & Johnson is preparing a potential sale of its orthopedics unit, DePuy Synthes, which it had previously planned to separate as a standalone business. The unit could be valued at more than $20 billion, with major buyout firms already expressing interest in the acquisition.

• The orthopedics business, known as DePuy Synthes, is attracting interest from large private equity firms
• The potential sale value exceeds $20 billion, representing a significant divestiture for J&J
• This marks a shift from J&J's earlier plan to spin off the orthopedics unit as a separate company

BioNTech filed a patent infringement lawsuit against Moderna in Delaware federal court, alleging that Moderna's COVID-19 vaccine mNexspike violates patents related to BioNTech and Pfizer's Comirnaty vaccine. The legal action marks an escalation in intellectual property disputes between major COVID-19 vaccine manufacturers.

• BioNTech claims Moderna's mNexspike vaccine infringes on patents associated with the Comirnaty shot developed jointly by BioNTech and Pfizer
• The lawsuit was filed in Delaware federal court, a common venue for patent litigation cases
• This represents a significant legal battle between two of the leading mRNA vaccine developers that played crucial roles in the pandemic response

Netflix is considering raising its bid for Warner Bros Discovery, currently at $27.75 per share, as it competes with rival bidder Paramount Skydance for the media company. Warner Bros Discovery owns valuable franchises including 'Harry Potter', 'Game of Thrones', DC Comics, and Superman. The acquisition battle continues as Warner Bros moves toward a March 20 shareholder vote.

• Netflix's current bid stands at $27.75 per share and the company has sufficient cash reserves to increase its offer if necessary
• The acquisition target includes highly valuable intellectual property franchises such as HBO Max, 'Harry Potter', 'Game of Thrones', and DC Comics properties
• Paramount Skydance is the competing bidder, with Warner Bros Discovery shareholders scheduled to vote on March 20