Here is a rundown of Cheddar News' top trending market stories of the day.
TECH EARNINGS AHEAD
It's going to be a busy week for Wall Street. The Federal Reserve is announcing its next rate hike on Wednesday, and Big Tech is dropping a slew of quarterly results. Meta is releasing earnings on Wednesday, and Amazon, Apple, and Google parent Alphabet are all releasing on Thursday. Traders are betting that the Fed delivers a modest 25 basis point hike, marking a deceleration of this tightening cycle. As for the earnings, investors will be tuned in for signs of how the tech sector might fare in the coming year after several high-profile rounds of layoffs.
MICROSOFT COPYRIGHT SUIT
Microsoft and OpenAI requested that a San Francisco court toss out a class-action lawsuit accusing the firms of improperly monetizing open-source code in their artificial-intelligence systems. The companies said the anonymous copyright owners who filed the complaint were not specific enough in their allegations. The plaintiffs maintain that they used the open source code in a program called Copilot without complying with licensing terms.
AMAZON ADD GROCERY FEES
Amazon is adding a fee to Fresh grocery orders that cost less than $150. It said the extra charge is designed to keep prices down across its services. The delivery fee is $9.95 for orders under $50, $6.95 for orders between $50 and $100, and $3.95 for orders between $100 and $150. “This service fee will help keep prices low in our online and physical grocery stores as we better cover grocery delivery costs and continue to enable offering a consistent, fast, and high-quality delivery experience,” the company said.
Oracle soars as it cashes in on the AI boom, Plus: Starbucks shares continue to fall under its new CEO, and does anybody actually want a new iPhone Air?
Swedish buy now, pay later company Klarna is making its highly anticipated public debut on the New York Stock Exchange Wednesday, the latest in a run of high-profile initial public offerings this year. The offering priced at $40 Tuesday, above the forecasted range of $35 to $37 a share, valuing the company at more than $15 billion. The valuation easily makes Klarna one of the biggest IPOs so far in 2025, which has been one of the busier years for companies going public. Other popular IPOs so far this year include the design software company Figma and Circle Internet Group, which issues the USDC stablecoin..
Oracle co-founder Larry Ellison wrested the title of the world’s richest man from longtime holder Elon Musk early Wednesday as stock in his software giant rocketed more than a third in a stunning few minutes of trading. That is according to wealth tracker Bloomberg. A college dropout, the 81-year-old Ellison is now worth $393 billion, Bloomberg says, several billion more than Musk, who had been the world’s richest for four years. The switch in the ranking came after a blockbuster earnings report from Oracle. Forbes still has Musk as the richest, however, valuing his private businesses much higher.
Aurimas Sabulis, CEO of Dextall, unveils how AI‑driven prefabricated façades slash design time by 80%, labor by 87%, and accelerate affordable housing delivery.
Online broker Robinhood Markets will join the S&P 500 index Online broker Robinhood Markets will join the S&P 500 index as its stock rides higher on a cryptocurrency wave.
