Trending Market News

Amazon plans to announce approximately 14,000 corporate job cuts next week, potentially starting Tuesday, as part of a broader initiative to eliminate 30,000 white-collar positions. This follows an initial round in October 2023 that cut roughly 14,000 jobs, representing the first half of the company's total reduction target.

• The upcoming layoffs are expected to match the October 2023 cut of approximately 14,000 corporate workers
• Amazon's total job reduction target is 30,000 white-collar positions, with about half already eliminated in the first round
• The company declined to comment on the planned layoffs, which could begin as early as Tuesday according to unnamed sources

Microsoft 365 experienced a significant outage on Thursday, affecting thousands of users primarily in North America. According to Downdetector, over 13,100 incidents were reported as Microsoft investigated issues with service infrastructure not processing traffic as expected.

• More than 13,100 user-reported incidents were logged on Downdetector during the outage
• Microsoft identified a portion of its North American service infrastructure that was not processing traffic properly
• The outage impacted multiple services within the Microsoft 365 productivity software suite

Clorox announced the acquisition of privately held Gojo Industries, maker of Purell hand sanitizer, for $2.25 billion in cash. The deal aims to strengthen Clorox's position in the health and hygiene market segments and will be funded primarily through debt financing.

• The all-cash transaction is valued at $2.25 billion and will be financed primarily through debt
• Gojo Industries is a privately held company specializing in skin health and hygiene solutions, best known for the Purell brand
• The acquisition is expected to close before the end of Clorox's fiscal year 2026

Microsoft experienced technical issues with Outlook email service on Thursday, disrupting users' ability to send and receive emails during U.S. business hours. The outage affected schools, government institutions, and companies relying on the core Microsoft 365 productivity tool, with infrastructure problems identified in North America.

• Users encountered '451 4.3.2 temporary server issue' error messages, with Microsoft identifying that a portion of service infrastructure in North America was not handling traffic correctly
• The disruption also impacted searches in OneDrive cloud storage and other Microsoft services during peak business hours
• This follows a previous 21-hour Outlook outage that occurred in July, highlighting recurring reliability concerns with the widely-used email platform

Intel reported fourth-quarter earnings that beat expectations with adjusted EPS of 15 cents versus 8 cents estimated and revenue of $13.7 billion versus $13.4 billion estimated. However, the stock fell after the company provided weak first-quarter guidance of $11.7-12.7 billion in revenue. The company posted a net loss of $600 million despite optimism around its foundry business and 18A manufacturing technology.

• Intel's foundry business generated $4.5 billion in revenue, with CEO Lip-Bu Tan citing 'strong customer demand' for the company's 18A technology that competes with TSMC's 2nm process
• Data Center and AI sales reached $4.7 billion, up 9% year-over-year, driven by increased spending on AI infrastructure and strong server chip sales
• Client Computing Group (laptops) sales declined 7% year-over-year to $8.2 billion, while the stock has risen 147% over the past year on foundry business optimism

The FDIC has approved deposit insurance applications from Ford Motor Company and General Motors, allowing them to establish industrial banks and offer financial services. The conditional approvals require the automakers to set up their lending operations within 12 months. This decision reignites a long-standing dispute between traditional banks, who oppose industrial loan charters citing insufficient oversight, and proponents who argue these charters enable limited customer financial services.

• Ford and GM must stand up their lending arms within 12 months as a condition of the FDIC approval
• Traditional banks have opposed industrial loan charters, arguing they allow commercial firms to engage in banking without proper regulatory oversight
• The approvals mark the latest development in a prolonged conflict between commercial companies seeking banking powers and the traditional banking industry

Tesla has begun offering driverless robotaxi rides in Austin, Texas, without safety monitors in the vehicles, according to CEO Elon Musk. This marks a significant milestone in the company's autonomous vehicle deployment, representing one of the first commercial driverless taxi services operating without human oversight in the car.

• Tesla is operating fully driverless robotaxis on public roads in Austin with no safety drivers present
• The announcement was made by CEO Elon Musk on January 22, 2026
• This deployment represents a major step toward commercializing Tesla's autonomous driving technology

U.S. President Donald Trump filed a $5 billion lawsuit against JPMorgan Chase and CEO Jamie Dimon in Florida state court, alleging the bank closed his accounts for political reasons. The lawsuit, filed by Trump's attorney on Thursday morning, claims JPMorgan engaged in 'debanking' following the January 6, 2021, Capitol attack. JPMorgan has not yet responded to the allegations.

• The lawsuit seeks $5 billion in damages and was filed in Miami-Dade County, Florida state court
• Trump alleges JPMorgan terminated his banking relationship due to political motivations after the January 6, 2021 Capitol incident
• JPMorgan Chase has not provided comment on the lawsuit, and Reuters could not independently verify all details of the filing

Canadian nuclear fusion startup General Fusion announced plans to go public in the U.S. through a $1 billion SPAC merger with Spring Valley Acquisition Corp. III, expected to close by mid-2026. The company is developing magnetized target fusion technology but has not yet built a commercially viable reactor, with its first power plant expected in the mid-2030s. The move comes amid surging demand for clean energy driven by AI data centers and broader electrification needs.

• The deal includes $105 million in committed funding and will list on Nasdaq under ticker 'GFUZ' by mid-2026
• General Fusion has not yet proven commercial viability or built a reactor producing net energy, with first-of-a-kind power plant targeted for mid-2030s
• Rising nuclear energy interest in the U.S. driven by massive electricity demand from AI data centers and electrification across transportation and manufacturing sectors

SpaceX is enlisting four major Wall Street banks for senior roles in a potential initial public offering, according to a Financial Times report. Bank of America, Goldman Sachs, JPMorgan Chase, and Morgan Stanley are being lined up to lead the IPO process for Elon Musk's space exploration company.

• Four major investment banks (Bank of America, Goldman Sachs, JPMorgan Chase, and Morgan Stanley) are being positioned for senior leadership roles in the potential offering
• The move signals SpaceX may be preparing for public markets despite CEO Elon Musk's historical preference for keeping companies private
• SpaceX is one of the world's most valuable private companies, making any potential IPO a significant event for both space industry and capital markets

Moderna CEO Stephane Bancel announced the company will halt investments in new late-stage vaccine trials due to increasing opposition to immunizations from U.S. officials. This strategic shift represents a significant pullback in vaccine development by one of the leading COVID-19 vaccine manufacturers in response to the changing political climate around vaccinations in the United States.

• Moderna is stopping investments specifically in new late-stage vaccine trials, indicating a major change in its research and development pipeline
• The decision is directly attributed to growing anti-vaccination sentiment from U.S. government officials, reflecting policy uncertainty in the healthcare sector
• The move marks a retreat by a major pharmaceutical company that was central to COVID-19 vaccine development and distribution

Trading house Vitol is preparing to export Venezuelan fuel oil under a new U.S.-backed oil supply deal, following the recent capture of Venezuela's president. Vitol and Trafigura received the first U.S. licenses earlier this month to load and export Venezuelan oil, marking a significant shift after years of U.S. sanctions. The move signals accelerating re-entry of Venezuelan oil to global markets including the U.S., Europe, and India.

• Vitol executives instructed partners to assess PDVSA terminals including Amuay and El Palito to begin loading fuel oil cargoes in the coming days
• Venezuela has millions of barrels of crude and fuel oil stored onshore and in vessels due to a U.S. oil blockade that began in December
• The OPEC nation produces high-sulfur residual fuel oil previously sold to Asian customers, with trading firms currently storing cargoes at Caribbean terminals while marketing to refiners

Design software maker Autodesk announced plans to lay off approximately 7% of its global workforce, affecting roughly 1,000 employees out of its 15,300-person staff. The cuts will primarily impact customer-facing sales functions, with the restructuring expected to be completed by the end of fiscal Q4 2027.

• Approximately 1,000 employees will be laid off, representing 7% of Autodesk's 15,300-person workforce as of January 31, 2025
• Sales functions will bear the brunt of the reductions, indicating a strategic shift in the company's customer-facing operations
• The restructuring timeline extends through fiscal Q4 2027, suggesting a gradual implementation over the next two years

Spotify launched its 'prompted playlist' feature for premium subscribers in the US and Canada, an AI-powered tool that allows users to customize playlists using commands and listening habits. Following a successful pilot in New Zealand, this expansion is part of Spotify's broader strategy to convert free-tier users to paid subscriptions through AI-enhanced personalization features.

• The feature enables users to set 'rules' for generated content and schedule automatic refreshes daily or weekly, positioning listeners as active participants rather than passive recipients of algorithm suggestions
• The rollout follows Spotify's announcement earlier in January to raise premium subscription prices in the US, Estonia, and Latvia starting in February
• Spotify VP of Product Personalization emphasized that listeners want to 'actively shape their own experience' rather than simply receive platform-generated suggestions

Alphabet's Waymo launched its robotaxi service in Miami on Thursday, marking its sixth U.S. market and first new market of 2026. The expansion strengthens Waymo's lead in the U.S. autonomous vehicle market as domestic competition lags, with plans to enter 10 additional cities in 2026 including Dallas, Denver, and Washington.

• Waymo will initially serve a 60-square-mile area covering Miami's Design District, Wynwood, Brickell, and Coral Gables, with nearly 10,000 residents already signed up
• The company crossed 200,000 weekly paid rides in December and served over 4 million trips in 2025, while reportedly in talks to raise $15 billion in funding
• The Miami launch follows recent safety concerns after Waymo vehicles contributed to gridlock during storms and power outages in San Francisco last month

Spirit Airlines is in negotiations with investment firm Castlelake for a potential takeover as the struggling discount carrier seeks a path out of bankruptcy. Spirit filed for Chapter 11 protection in August 2024 for the second time in a year, after previous merger talks with Frontier Airlines failed to produce a deal.

• Spirit secured an additional $50 million in immediate funding in mid-December, with further financing contingent on progress toward a standalone reorganization plan or strategic transaction
• The airline's unions agreed to $100 million in pay concessions for pilots and flight attendants as part of cost-cutting measures that also included route reductions, fleet downsizing, and job cuts
• Castlelake, active in aviation finance, launched Merit AirFinance in August with $1.8 billion in deployable capital, positioning it as a potential strategic partner for Spirit's restructuring

Corcept Therapeutics announced on Thursday that its experimental cancer drug successfully met the primary endpoint in a late-stage clinical trial. This represents a significant milestone in the drug's development toward potential regulatory approval and commercialization.

• The experimental cancer treatment achieved its main goal in the final phase of clinical testing, moving it closer to potential FDA approval
• Late-stage trial success is a critical step that typically precedes regulatory submission and can significantly impact a pharmaceutical company's valuation

Abbott Laboratories missed Wall Street's fourth-quarter revenue estimates on Thursday, reporting $11.46 billion versus the expected $11.80 billion. The shortfall was driven by weakness in its diagnostics and nutrition divisions, particularly from declining COVID-19 testing demand and pricing pressures in China.

• Abbott's diagnostics division faces a projected $700 million revenue hit in 2025, primarily due to steep declines in COVID-19 testing demand
• China's volume-based procurement program is creating additional pressure by purchasing laboratory equipment and consumables in bulk at substantial discounts
• Total quarterly revenue of $11.46 billion fell short of the $11.80 billion analyst consensus estimate

Mercedes unveiled its 2026 Formula One W17 car and announced a major sponsorship partnership with Microsoft, with industry experts estimating the deal at $60 million annually. The former champions, who finished fourth last season, are hoping the new car will return them to competitiveness after winning eight consecutive constructors' titles from 2014-2021.

• Microsoft branding will appear on the car's airbox and front wing sides, though no official financial terms were disclosed
• Mercedes finished fourth in 2025 with George Russell taking two wins and rookie Kimi Antonelli securing three podiums and becoming youngest podium finisher
• Testing begins in Barcelona next week amid speculation Mercedes has found a performance advantage over rivals like Ferrari, with the season starting March 8 in Australia

Apple has requested a Delhi High Court to block India's Competition Commission (CCI) from obtaining its global financial records during an ongoing antitrust investigation into app store practices. The company fears significant penalties based on worldwide revenue and is challenging the validity of India's 2024 penalty rules while the CCI continues to demand financial documentation.

• Apple filed a petition on January 15 asking the court to halt the entire CCI investigation and prevent action against the company while its legal challenge to penalty rules is pending
• The CCI issued a private notice on December 31 demanding Apple's financial records, despite the company's ongoing court challenge to the underlying penalty framework
• A hearing is scheduled for January 27 at Delhi High Court to address Apple's request to stop the antitrust watchdog's document demands