Gold Crashes 6% in 12-Year Record Drop (And Nvidia Backs $350 Million Battery Bet)
Southwest Airlines surprised Wall Street with a profit and revenue beat but still saw shares dip, while American Airlines rallied nearly 4% after topping expectations and offering a stronger outlook. Grab is teaming up with May Mobility to launch self-driving taxis in Southeast Asia, expanding the global robotaxi race. Gold tumbled 6% in its worst single-day drop in 12 years as optimism over trade talks and the end of the U.S. government shutdown erased safe-haven demand. Nvidia participated in a $350 million round for Redwood Materials, a battery recycling startup founded by Tesla cofounder J.B. Straubel, as tech giants pour money into energy storage solutions for AI data centers. Meta is trimming 600 AI roles while tech leaders call for a pause on “superintelligence” research. Starbucks union members plan to vote on strike authorization amid ongoing labor disputes. Mortgage refinance applications jumped 81% year-over-year as rates dipped to a one-month low. And oil prices surged after new U.S. sanctions targeted Russia’s biggest energy companies.
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