Amazon to Replace 600,000 Workers with Robots (And Tesla Kicks Off Mag 7 Earnings)
Warner Bros. Discovery stock soared 11% after the company said it’s open to takeover offers, signaling a potential end to its independence in a rapidly consolidating media industry. Shoppers are showing “discount burnout” as constant sales lose their appeal, even with fashion prices rising into the holidays. Gold prices crashed 6% in their worst drop in over a decade as optimism around a U.S.–China trade deal unwound the safe-haven trade. Tesla reports earnings today, setting the tone for the Mag 7 tech giants as investors look for updates on AI, robotaxis, and low-cost EVs. Amazon announced plans to replace 600,000 American workers with robots, sparking fresh debates about automation and the future of work. The U.S. and Canada are nearing a new trade deal covering steel, aluminum, and energy after months of tariff disputes. Mattel shares dropped 6% after weak Barbie sales dragged down earnings. And Beyond Meat has become the latest meme stock craze—soaring over 1,200% as retail traders pile in despite shaky fundamentals.
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