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Companies: Abbott announces major Exact Sciences acquisition. The company agreed to buy Exact Sciences in a multibillion dollar deal that expands its diagnostics portfolio, and the transaction includes key cancer screening products and is scheduled to close in the year two thousand twenty-six. Exact Sciences shares rose sharply after the announcement, and Abbott expects near-term earnings dilution but long-term revenue benefits. The Economy: United States job market sends mixed signals. Payrolls rose more than expected in September, showing continued hiring momentum, while unemployment moved up to four point four percent, its highest level in years. Updated revisions weakened previous job figures, and the combination of stronger hiring and rising unemployment complicated expectations for Federal Reserve policy decisions. International: Draft Ukraine peace plan sparks concern. A circulated proposal outlined territorial concessions in the Donbas region and a significant reduction of Ukraines armed forces to about six hundred thousand troops, along with possible security guarantees and sanction adjustments. Ukrainian and European officials reacted cautiously, and capitals across Europe called for full involvement in any negotiation affecting borders and military commitments. Markets: Nvidia results trigger sharp market swings. The company posted record quarterly revenue and issued a strong forecast that initially boosted technology stocks, but the early rally faded as broader market volatility returned. Investors reassessed technology valuations amid mixed economic signals, and chip and artificial intelligence related shares experienced notable intraday moves during the session.
By Bobbie CastCompanies: Abbott announces major Exact Sciences acquisition. The company agreed to buy Exact Sciences in a multibillion dollar deal that expands its diagnostics portfolio, and the transaction includes key cancer screening products and is scheduled to close in the year two thousand twenty-six. Exact Sciences shares rose sharply after the announcement, and Abbott expects near-term earnings dilution but long-term revenue benefits. The Economy: United States job market sends mixed signals. Payrolls rose more than expected in September, showing continued hiring momentum, while unemployment moved up to four point four percent, its highest level in years. Updated revisions weakened previous job figures, and the combination of stronger hiring and rising unemployment complicated expectations for Federal Reserve policy decisions. International: Draft Ukraine peace plan sparks concern. A circulated proposal outlined territorial concessions in the Donbas region and a significant reduction of Ukraines armed forces to about six hundred thousand troops, along with possible security guarantees and sanction adjustments. Ukrainian and European officials reacted cautiously, and capitals across Europe called for full involvement in any negotiation affecting borders and military commitments. Markets: Nvidia results trigger sharp market swings. The company posted record quarterly revenue and issued a strong forecast that initially boosted technology stocks, but the early rally faded as broader market volatility returned. Investors reassessed technology valuations amid mixed economic signals, and chip and artificial intelligence related shares experienced notable intraday moves during the session.