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AI could actually bring prices down as it ramps up productivity.

Key Takeaways

• AI could significantly reduce inflation if it delivers on its labor-saving promises, at least one economist forecasts.
• Cooling prices are great news for Americans struggling to stay on a budget.
  
• Historically, revolutionary technology has tended to raise living standards, but the labor market transition could be painful.
  

If AI delivers on its promises, the economy of the future could have lower inflation and far fewer jobs.

That's according to Chen Zhao, chief global strategist at Alpine Macroeconomics, who believes that today's "jobless profit boom," fueled by AI expansion, will lead to a low-inflation, low-employment economy in the near future.

"The chances are the surprise will be that inflation will be all lower than 2% by the end of next year," Zhao said.

Cooling prices would be great for American households—at least for those who manage to stay employed in the AI-driven economy.

What This Means For The Economy

Some economists believe AI will reshape inflation and productivity trends, driving major shifts in U.S. economy.

How AI Could Push Down Prices

Productivity improvements may drive inflation below the Fed's 2% goal, returning it to about the level it was before the pandemic disrupted global supply chains.

That would be a notable decrease from its current level of about 3%, and would prompt the Fed to lower its key interest rate in an effort to boost demand. (While too-low inflation is a nice problem to have, the Fed aims to keep it around 2% to encourage spending and keep the job market growing.)

Other economists and tech leaders have made similar predictions recently. Sam Altman, CEO of Open AI, told investors in March at a Morgan Stanley event that the technology's disinflationary effect is underappreciated. Rick Reider, senior managing director at investment firm BlackRock, called the technology a force that pushes costs down and output up, leading to lower prices.

"If technology has always aimed to do more with less, AI is a breakthrough in doing more with far less," he wrote in a recent blog post.

That price relief would come with a significant downside for workers displaced by the new technology. Indeed, the job slowdown has already arrived, although several factors beyond AI are discouraging employers from hiring, including uncertainty about trade policy and a significant decline in immigration.

Not everyone is convinced that AI will push down inflation. There are other forces pushing prices higher, including tariffs. In the short run at least, AI is pushing some prices up, not down: an analysis by Bloomberg found that wholesale electricity prices nearly quadrupled in areas near power-hungry AI data centers.

Indeed, a significant faction of the Federal Reserve's policy committee believes inflation risks are high enough that the central bank should hold interest rates steady, rather than cutting.

And some experts see a risk that AI technology simply won't pan out and deliver the labor-saving benefits its proponents promise.

If AI Saves Labor, Who Will Reap The Rewards?

Amazon's recent layoff announcement is emblematic of the AI's potential impact on the job market. The retail giant cut 14,000 corporate workers despite its profits rising, saying AI was making its operations more efficient.

"You're basically using technology to replace people, and you produce more output or more profit with the same number of people or less," Zhao said.

Zhao compared the situation of today's white-collar workers at risk of AI displacement to the manufacturing employees whose jobs were swept away by globalization in the 1990s and 2000s. Globalization made the U.S. richer overall, but decimated blue-collar workers whose jobs were outsourced.

"The shock could be very rapid and very profound," he said. "You can have a very large displacement of workers that need to be somehow taken care of."

Since the Industrial Revolution began, new technologies allowing more work to be done by fewer people have, over the long run, improved the standard of living for most people. The same is likely to be true of AI, Zhao said, but he warned the transition period could be painful, especially in an economy that is already characterized by high levels of inequality.

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Palantir shares sank even though the AI software company posted record quarterly results that blew past analysts' estimates and raised its full-year revenue outlook for the third straight quarter

Key Takeaways

• Major U.S. equities indexes were lower at midday Tuesday, with Palantir Technologies leading tech stocks lower. 
• Palantir's stock sank amid some worries that it's overvalued, even though the AI software company posted better-than-expected quarterly results.
• Yum! Brands shares rose after the company said it was reviewing strategic options for its Pizza Hut brand.

Major U.S. equities indexes were lower at midday Tuesday, with Palantir Technologies leading tech stocks lower. The Dow Jones Industrial Average, S&P 500, and Nasdaq all lost ground.

Palantir's (PLTR) stock sank to lead Nasdaq decliners amid some worries that it's overvalued, even though the AI software company posted record quarterly results that blew past analysts' estimates and raised its full-year revenue outlook for the third straight quarter.

Sarepta Therapeutics (SRPT) stock nosedived after studies of the firm's Duchenne muscular dystrophy treatments failed to meet goals.

Uber Technologies (UBER) was one of the worst-performing stocks in the S&P 500 after the ridesharing giant issued a soft adjusted EBITDA forecast for the current quarter.

Denny's (DENN) stock skyrocketed on news the restaurant chain is being acquired by TriArtisan Capital Advisors, Treville Capital Group, and Yadav Enterprises for $620 million in cash.

Marriott International (MAR) paced Nasdaq gainers after the hotel giant reported better-than-expected results for the third quarter, even though its Revenue Per Available Room (RevPAR) in the U.S. and Canada was weaker than analysts had anticipated.

Yum! Brands (YUM) shares rose after the company said it was reviewing strategic options for its Pizza Hut brand.

Oil and gold futures pulled back. The yield on the 10-year Treasury note ticked lower. The U.S. dollar strengthened against the euro and pound but weakened against the yen. Prices for most major cryptocurrencies fell.

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Advanced Micro Devices shares have more than doubled in value in 2025 so far.

Key Takeaways

• Advanced Micro Devices is scheduled to report earnings after the closing bell today, with Wall Street analysts expecting record revenue driven by gains in its data center segment.
• Options pricing suggests traders expect AMD's stock could move up to 7% in either direction after its results.

Advanced Micro Devices is set to report its latest quarterly results after the closing bell today, with traders expecting a big move in the chipmaker's stock. 

Options pricing suggests traders expect AMD (AMD) shares could move up to 7% in either direction by the end of this week. A move of that size from the stock's recent level around $256 could push shares as high as $274, topping October's record highs in the wake of a massive deal announced with ChatGPT maker OpenAI. At the low end, it would leave shares around $238, where they were late last month.

Why This Matters for Investors

A flurry of big AI deals has helped spur big stock gains this year for chipmakers like AMD, though brewing concerns about a bubble in the space and rising expectations ahead of the company's earnings report, due later today, could add more pressure on the company to impress with its results.

Most Wall Street analysts lean bullish on AMD's prospects, with a majority of those surveyed by Visible Alpha calling it a "buy," thought the stock has already surpassed their consensus target with its recent gains. AMD's stock has more than doubled in value this year, with much of its rise fueled by optimism spurred by the OpenAI deal last month.

AMD is seen reporting adjusted earnings per share of $1.16 on a 28% year-over-year jump in revenue to a record $8.76 billion for the third quarter, driven by booming demand for its chips for data centers, its largest revenue segment.

The shares were down about 2% recently amid a broader market decline led by the tech sector as worries about an AI bubble weigh heavy. Read Investopedia's full daily markets coverage here.

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Bitcoin's price has lately retreated from recent record highs.

Key Takeaways

• As bitcoin prices have fallen, spot bitcoin ETFs have seen some $1.3 billion in outflows since Oct. 29, according to data platform SoSovalue; spot ether ETFs experienced outflows of almost $500 million over the same time period.
• The weakness in the world's most well-known cryptocurrency weighed on major stocks linked to it including MicroStrategy, Coinbase Global and Robinhood.

Red October is spilling into November.

The price of bitcoin, the world's best-known and most-valuable cryptocurrency, today fell more than 5% to its lowest point—recently trading below $100,000—since hitting its record high over $126,000 in early October. The weakness extends declines that began after what is now called the crypto market's Black Friday in the middle of last month, which helped pull bitcoin down for the month to mark its first red October since 2018.

Whether those declines will turn into a full-on downturn, which some consider typical for this stage in the coin market cycle, or coax investors back into the mix, remains to be seen. On Tuesday, investors appeared wary. Crypto's fear and greed index, which is aimed at measuring sentiment in the market, turned to fear yesterday from a neutral position last week, according to CoinMarketCap.

Why This Matters to Investors

Cryptocurrencies tend to be volatile, and sharp declines tend to follow long upward runs. How long recent declines will last remains to be seen, but the price of bitcoin today dropped below $100,000 for the first time in months.

The falling price of bitcoin—the last time it was below $100,000 was in May—comes amid mounting outflows in spot bitcoin ETFs. BlackRock's iShares Bitcoin Trust (IBIT), Fidelity Wise Origin Bitcoin Fund (FBTC) and Grayscale Bitcoin Trust (GBTC) collectively saw net outflows of some $1.3 billion since Oct. 29, according to data platform SoSoValue. Roughly $500 million ran out of spot ether ETFs over the same time period.

Altcoins including ether (ETHUSD) and solana (SOLUSD) were hit harder, falling 8% or more. The weakness also dragged on major bitcoin-linked stocks including MicroStrategy (MSTR), Coinbase Global (COIN), and Robinhood (HOOD) closed at least 6% lower and continued to decline after the market's close.

Some bitcoin bulls have lately leaned in. Strategy, cofounded by bitcoin evangelist Michael Saylor, on Monday said it acquired 397 bitcoin for an average purchase price of $114,771 between Oct. 27 and Nov. 2.

This article has been updated since it was first published to reflect updated market action.

News of the day for Nov. 4, 2025

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Shares of Palantir were sliding in premarket action Tuesday.

Stock futures are falling premarket Tuesday as investors digest fresh corporate earnings reports; Palantir (PLTR) shares are sliding after reporting a jump in revenue on strong demand for its AI platform; executives from Goldman Sachs and Morgan Stanley said that a market correction is likely coming within the next two years; Starbucks (SBUX) announced a joint venture with Boyu Capital to run its China operations; Sarepta Therapeutics (SRPT) shares plunged after it released disappointing results for its trials of a treatment for a muscle-wasting disease. 

Here's what you need to know today.

1. Stock Futures Fall Amid Wave of Corporate Earnings

Stock futures are falling premarket as the government shutdown stretches into its second month amid a blitz of corporate earnings reports. Futures tied to the tech-focused Nasdaq 100 are lower by 1.4% in early trading, while futures tied to the benchmark S&P 500 were down 1.1% and those tied to the blue chip Dow Jones Industrial Average were dropping 0.7%. The three leading U.S. indexes finished Monday mixed.

Bitcoin is trading at $104,500, down from a high of more than $111,000 over the weekend. Yields on the 10-year Treasury note, which can impact mortgage rates and a host of other consumer loans, declined to around 4.09% after hitting 4.11% yesterday. Gold futures were mostly flat at around $4,000 an ounce.

2. Palantir Shares Fall After Reporting ‘Otherworldly’ Revenue Growth

Palantir (PLTR) shares are falling despite record quarterly results from the software company that were driven by strong demand for its Artificial Intelligence Platform. Palantir reported adjusted earnings per share of $0.21 cents on revenue that jumped 63% year-over-year to a record $1.18 billion in the third quarter, well above analysts' estimates compiled by Visible Alpha.

While Palantir still derives more of its domestic business from the government than corporations, its commercial segment drove much of the company's growth in the quarter. CEO Alex Karp called the commercial segment a juggernaut" in a letter to investors in which he touted the company's "otherworldly" growth. Palantir shares, which have more than doubled this year, were lower by 7% in recent trading.

3. Wall Street Executives See Market Pullback Coming

Executives at top Wall Street banks said that investors should brace for a market correction of  more than 10% in the next 12 to 24 months. Morgan Stanley CEO Ted Pick and Goldman Sachs Group CEO David Solomon both told a Hong Kong financial summit that they see the possibility of a significant selloff in the next few months, according to news reports.

The executives said a market pullback could be a healthy effect as investors reassess the valuations of companies. The S&P 500 is trading at about 23 times forward earnings estimates, according to several data providers, above historical levels.

4. Starbucks Announces Chinese Joint Venture

Starbucks (SBUX) said it was forming a joint venture with Boyu Capital to form a joint venture to operate its Chinese stores. The deal with the alternative asset management firm is valued at $4 billion, with Starbucks retaining a 40% stake in the operations. Starbucks has been seeing some success in its turnaround efforts, with same-stores sales growing in its most recent quarter after a year-and-a-half of declines. Shares of Starbucks, lower by 11% so far this year, were little changed in premarket trading.

5. Sarepta Therapeutics Stock Plummets after Disappointing Trial Results

Sarepta Therapeutics (SRPT) shares were plummeting after the pharmaceutical firm reported poor results for a trial of its treatment for the muscle-wasting disease Duchenne muscular dystrophy. The trial of 225 patients produced results that were not statistically more significant than a placebo. The company also reported a 17% year-over-year decline in revenue to just under $400 million. Shares of Sarepta were lower by more than 35% in premarket trading.

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Tesla's board seeks to make Elon Musk, a very rich man, much richer.

Key Takeaways

• The electric vehicle company has launched a media blitz, asking shareholders to approve a trillion-dollar pay package for its CEO or risk losing him.
• Another proposal, with a vote due this week, asks for board authorization to invest in xAI, the Musk-founded company that developed AI-assistant Grok and owns social media platform X.

Tesla wants to make Elon Musk, the world's richest person, even richer. Again.

The electric-vehicle company, which aims to pivot into AI and robotics, is set to hold its annual shareholder meeting on Thursday; Its board is asking investors to vote for a plan that includes a CEO performance pay package potentially worth $1 trillion to Musk. The award, as well as other proposals, has drawn criticism and support from a cast that includes advisory firms, labor unions, shareholder groups and devotees of the executive.

Tesla (TSLA) has ramped up its campaign for Musk ahead of the vote, unleashing a media blitz containing an ultimatum: Pay up or risk losing him at a vital moment for the company. It advertised on the social media platform X, saying: "The Future of Tesla Is in Your Hands." Chair Robyn Denholm on CNBC's "Squawk Box" last week exhorted shareholders to vote as the company's Optimus robot handed out candy in Times Square.

"We're changing transportation with AI and we're changing the way households will work and how workplaces will work with robotics," Denholm said. "Tesla aims to be at the forefront of that."

Why This Is Significant

A central issue around Tesla's proposed plan this year is key person risk. The company's board believes that its long-term future rests on Elon Musk's leadership. Corporate wisdom often suggests a firm's dependency on one person or a small group of individuals can undermine the business at large. Tesla shareholders will share their viewpoints later this week.

During the company's earnings call last month, Musk said the compensation package addresses his need to retain influence over the company without risk of being "ousted" unjustifiably. "The point is there needs to be enough of a voting control to give a strong influence but not so much that I can't be fired if I go insane," he said, according to transcripts provided by AlphaSense.

Another proposal in the 2025 plan, which could make Musk wealthier still, asks for approval to invest in xAI, a private AI company founded by the Tesla CEO. Musk has previously said there would be no Tesla-xAI merger coming but that he was open to an investment.

A coalition of labor unions and corporate watchdogs are pushing back, urging shareholders to vote against the compensation proposal. They took issue with Musk's embrace of "right-wing political movements" and the decline in Tesla's sales. Shares are up 23% year-to-date through Monday's close.

One major shareholder—Norges Bank Investment Management, which manages Norway's $1.9 trillion sovereign wealth fund—on Tuesday said it voted against Musk's pay package, as well as the measure that asked for board authorization to invest in xAI. "We are concerned about the total size of the award, dilution, and lack of mitigation of key person risk—consistent with our views on executive compensation," NBIM said in a statement.

Opponents Remain Worried About 'Key Man Risk'

Some big shareholder advisory firms are against the proposal. The pay package was designed to retain Musk because of the board's belief in his extraordinary capabilities, but "there are no prescriptive elements within the award to ensure his focus and time remain on Tesla," ISS wrote in its report. Glass Lewis warned of the "significant dilution" implied by the pay package structure, and the "absence of strong provisions to limit key man risk."

The company in an X post said the reports "defy basic common sense" and that their "benchmark approach is designed to flag deviations from the norm," which is ill-suited for Tesla.

The State Board of Administration of Florida in a letter supported the overall plan, saying the cost of dilution was outweighed by the trillions of dollars in potential value creation. Cathie Wood, chief of Ark Invest and a longtime Tesla backer, said that if Musk and the company met their outlined goals "employees and their families will become more wealthy than they ever dreamed possible."

Musk's pay has been a source of drama before. The CEO earned Tesla's 2018 performance package, but a Delaware court rescinded it and rejected the company's appeal. The company has since moved to Texas, where the 2025 package, if approved, stands to be insulated from similar lawsuits given the state's business-friendly governance laws.

If prior voting results are any indication of next week's vote, the new plan will likely pass. Tesla disclosed that 72% of voting shares, excluding Musk's and his brother Kimbal's, supported the 2024 plan. A big turnout in retail investors—some 30% of shareholders—helped clinch the vote.

This article has been updated since it was first published to incorporate the statement from NBIM.

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Palantir shares were up over 170% for 2025 through Monday's close

Key Takeaways

• Palantir posted record third-quarter results that topped analysts' estimates.
• The data analytics software maker raised its full-year revenue outlook for the third straight quarter.

Palantir (PLTR) posted record quarterly results that blew past analysts' estimates and raised its full-year revenue outlook for the third straight quarter.

The AI software company reported adjusted earnings per share of $0.21 cents on revenue that jumped 63% year-over-year to a record $1.18 billion in the third quarter, well above analysts' estimates compiled by Visible Alpha, driven by strong demand for its Artificial Intelligence Platform. 

While Palantir still derives more of its domestic business from the government than corporations, its commercial segment drove much of the company's growth in the quarter. Palantir's commercial revenue in the U.S. surged 121% to $397 million, compared to a 52% jump in U.S. government revenue to $486 million.

CEO Alex Karp called the commercial segment an "absolute juggernaut" in a letter to investors, in which he touted the company's "otherworldly" growth.

Why This Matters for Investors

Amid some worries on Wall Street that this year's rally in Palantir shares has left the stock overvalued, the company's strong quarterly results could help boost sentiment around its trajectory.

Looking ahead, Palantir said it sees fourth-quarter revenue of $1.327 billion to $1.331 billion, leading it to raise its full-year revenue outlook to $4.396 billion to $4.4 billion, up from $4.14 billion to $4.15 billion previously, marking the third straight quarter it's hiked its forecast.

Shares of Palantir surged over 5% in extended trading shortly following the release, before paring those gains to trade marginally higher. The shares were up over 170% for the year through Monday's close, making it one of the best-performing stocks in the S&P 500 for 2025.

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High-end household goods are selling better than bargain items, Procter & Gamble and Colgate-Palmolive say.

Key Takeaways

• Procter & Gamble and Colgate-Palmolive leaders said consumers are buying more high-end household staples, while sales of bargain brands cool.
• Both companies plan to navigate this environment by leaning into product innovations—upgrades that tend to accompany price increases.

Some companies are struggling to sell basic household goods—but consumers are snatching up high-end toothpaste and hair-care products.

Procter & Gamble (PG) is rolling out “innovations,” or upgrades, across its entire portfolio–from budget brands to high-end alternatives, and increasing prices as the company navigates tariffs and rising costs, CFO Andre Schulten said on a conference call last month. So far, the strategy is working—at least for the higher-end market, according to the maker of Pampers diapers, Tide detergent and Charmin toilet paper. 

“In some channels, we see the majority of growth in our categories in the premium end, not in the value end of the lineup,” Schulten said, according to a transcript made available from AlphaSense. 

Colgate-Palmolive (CL) CEO Noel Wallace gave a similar assessment of the domestic market for household staples on a conference call last week. The company behind Colgate toothpaste, Speed Stick deodorant and Ajax cleaners is also adopting an innovation-heavy strategy.

“We still see the premium and the super-premium [segments] growing very, very nicely," in the industry, Wallace said, according to a transcript. "It's the value-oriented brands, or SKUs, or segment, as well as the mid-price segment, that seems to be suffering."

What This News Means for Investors

High-end household goods are outperforming bargain brands, and this may be an indication that consumers are trading up, Procter & Gamble CFO Andre Schulten said. Budget items may also be struggling because low and middle-income households are stretching their current supply and buying store brands.

Anemic job growth and concerns about inflation are weighing on consumers, particularly low- and middle-income households. That isn’t translating into a focus on “affordability,” Schulten said, but on "value."

“We continue to see consumers trade up," he said.

Sales of bargain brands remained sluggish, despite companies competing for customers by rolling back prices, ramping up promotions and issuing coupons, the companies said.

“We’ve seen some volume slowdown in the categories in which we compete,” Wallace said. “All of the retailers and all the competitors are looking for solutions.” 

The contrast in demand for bargain and premium items has become a common theme for consumer companies. The frothy stock market and appreciation in home values has helped wealthier Americans feel comfortable paying up for things like international flights and saving on some items to splurge elsewhere.

Overall, the volume of Procter & Gamble products sold in North America last quarter held steady compared to a year earlier, Schulten said. Total sales in North America ticked up 1% year-over-year because of  price increases, he said. Colgate-Palmolive reported a 0.5% year-over-year dip in  North American sales by volume last quarter. Total sales in the region decreased slightly less due to price increases, according to a press release.

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Social Security Administration Leader Frank Bisignano and President Donald Trump have floated ideas about changing Social Security.

KEY TAKEAWAYS

• The U.S. is trying to keep Social Security funded, and Trump has pledged not to cut benefits.
• However, the administration has proposed tightening eligibility for Supplemental Security Income, which could cut 400,000 people from the program that aids lower-income disabled and older Americans.
• The agency is also aims to change who qualifies for Social Security Disability Insurance.

As pressure grows to address Social Security's funding issues, the government is looking for ways to save money on the program.

Social Security is running out of funding. By 2034, a major trust fund will be tapped out, and recipients will only be paid 81% of their expected benefits. Several resolutions have been proposed to maintain the program's 100% funding, including raising the maximum amount of an individual's earnings subject to Social Security taxation, increasing payroll taxes, or automatically adjusting revenues or benefits when a shortfall occurs.

President Donald Trump has repeatedly said he will not cut the main Social Security retirement program. However, the administration has proposed cuts to the Supplemental Security Income and Social Security Disability Insurance programs that would reduce or cancel coverage for some existing beneficiaries.

Why This Matter

The Trump administration's proposed changes to Social Security programs would eliminate or reduce benefits for thousands of the almost 7.1 million Americans who receive disability benefits from the Social Security Administration, as well as for some of the 7.4 million who receive SSI payments.

Raising the Age for Americans to Qualify for Full Retirement Benefits

Currently, Americans can take out reduced Social Security benefits starting at age 62. But to get their full retirement benefits in 2025, they need to wait until they are 66 years and 8 months.

The full retirement age used to be 65, but a law passed in 1983 has gradually increased the age over many years. In 2026, the FRA is 66 and 10 months, and in 2027 and beyond, it rises to 67.

In September, Social Security Administration Commissioner Frank Bisignano said in an interview that the SSA is considering raising the age at which Americans can take out full retirement benefits again in an attempt to save money and prolong Social Security's lifespan.

"Everything will be considered," Bisignano said. "The generations that are coming in will probably have a different set of rules than we had."

The next day, Bisignano reversed that claim and said via the SSA X social media account that the administration is not considering raising the retirement age.

Cutting the Number of Americans Eligible for Supplemental Security Income

Earlier this year, the SSA initiated the process of changing the eligibility criteria for Supplemental Security Income (SSI), a program that provides additional income for some older adults and individuals with disabilities who have limited or no income.

In order to qualify for SSI, beneficiaries must be part of a "public assistance household."
Previously, this meant all members of the household had to be on federal benefits, such as Social Security benefits, disaster relief, or other forms of assistance.

The Biden administration expanded the definition of a public assistance household, requiring only one member to receive federal benefits. It also broadened qualifying federal benefits, adding Supplemental Nutrition Assistance Program (SNAP) benefits.

In August, the SSA under the Trump administration proposed reversing Biden's changes and tightening restrictions again. Estimates from the Center on Budget and Policy Priorities show that nearly 400,000 people currently receiving SSI benefits would be removed from the program entirely or have their benefits reduced by hundreds of dollars per month.

Changing Eligibility for Social Security Disability Insurance

The Trump administration is considering changes to its eligibility criteria for disability benefits that would make it harder for many to qualify.

Social Security Disability Insurance, known as SSDI, provides financial assistance to Americans who are unable to work for a year or more because of a disability. Currently, factors used to determine whether a person's disability leaves them unable to work include the severity of the disability, age, and past work experience.

Applicants 50 years or older generally have a higher chance of receiving SSDI, since age can impact their ability to adjust to another kind of work. However, the Washington Post reported in early October that the SSA has proposed eliminating the age factor, making it harder for older people to qualify, or raising the threshold to 60.

This change could reduce the number of new applicants approved for SSDI benefits by up to 30% for older age groups, according to a report by Jack Smalligan, a senior policy fellow at the Urban Institute.

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Shares of Amazon were strong performers to kick off November trading.

Key Takeaways

• An AI collaboration boosted the company behind the largest U.S. cloud service on Monday, Nov. 3, 2025, while shares of the companies involved in a consumer goods deal saw major moves.
  
• Amazon shares surged after the e-commerce and cloud computing giant signed an agreement with ChatGPT owner OpenAI.
• Kleenex parent Kimberly-Clark announced a deal to buy Tylenol parent Kenvue. Kimberly-Clark stock fell, while Kenvue stock soared.

A linkup with an artificial intelligence player helped power shares of a top cloud-computing services company higher Monday, while an acquisition in the consumer goods space sent the two stocks on divergent paths.

Major U.S. equities indexes ended the first trading day of November mixed, kicking off a market week that will bring a wave of big-name quarterly reports. The S&P 500 added 0.2%, while the Nasdaq was up 0.5%. The Dow ended the session 0.5% lower. For more from Investopedia on the day's major market news, click here.

IDEXX Laboratories (IDXX) shares jumped 15%, the best performance on the S&P 500 today, after the pet health specialist reported better-than-expected third quarter sales and profit. The company raised its 2025 revenue and earnings per share guidance, highlighting global customer adoption of its new diagnostic tools, which IDEXX says can help veterinarian teams increase clinical insights and streamline their workflows.

Paper products giant Kimberly-Clark (KMB) said it would buy Tylenol, Band-Aid, and Listerine parent company Kenvue (KVUE) in a cash-and-stock deal valued at around $49 billion. Kenvue, which completed a spin-off from Johnson & Johnson (JNJ) in 2023, has been navigating litigation over allegations that its talcum powder causes cancer and statements from the Trump administration linking Tylenol to autism.

Kenvue shares rose more than 12% Monday following the announcement of the deal, which came at a significant premium to Friday's closing price for Kenvue stock, while Kimberly-Clark shares plunged more than 14%. The latter company's shares were the worst performers on the S&P 500 today.

Amazon (AMZN) shares jumped 5% after ChatGPT owner OpenAI signed an agreement to buy more than $38 billion worth of capacity its Amazon Web Services cloud unit. OpenAI said the deal to use AWS infrastructure would provide it with access to a significant number of Nvidia (NVDA) graphics processing units that could be employed to train its AI models. Nvidia shares gained 2.2%.

Moderna (MRNA) stock sank 8.3% Monday, reversing a portion of the gains posted last week amid reports that the vaccine maker had held strategic talks with a major pharmaceutical company about a potential partnership or sale. Waning enthusiasm around a possible deal and concerns about the company's financial situation overshadowed Moderna's announcement that it administered the first dose in an early stage study of its experimental multiple myeloma therapy.

KeyBanc downgraded Charter Communications (CHTR) stock to "sector weight" from "overweight" after the cable and internet provider reported lower-than-expected third-quarter sales and profit in its most-recent quarterly release. Analysts cited competitive headwinds to Charter's broadband subscriber growth, which can affect its free cash flow. Its stock fell about 5%.