Google Passes Microsoft as Gemini 3 Dominates AI (And Stocks Bounce on Rate Cut Hope)
Stocks wrapped a brutal week with the Nasdaq down 2.7% for its third straight negative week, but bounced Friday as NY Fed President Williams signaled rate cuts, sending December odds from 42% to 73%—though Boston Fed's Collins contradicted him over the weekend. Legal filings accuse Meta of halting 2019 research showing people who stopped using Facebook became less depressed, part of litigation from school districts and state AGs. Novo Nordisk fell 10% after its Alzheimer's trial testing semaglutide failed to meet targets despite earlier promising biomarker results. Airlines expect record 31 million Thanksgiving passengers as air traffic controllers who worked without pay during the shutdown receive $10K bonuses. Universal's "Wicked: For Good" opened with $150 million, the largest Broadway adaptation debut ever and second-biggest 2025 opening. Google passed Microsoft to become third-most valuable U.S. company as Gemini 3 topped ChatGPT in benchmarks, with Alphabet up 77% in six months despite antitrust concerns. Edmunds reports average new car payments hit $766/month, up 3.2% as high prices meet high rates. Americans now hold smartphones for 29 months versus 22 in 2016, worrying analysts about slowing consumer spending in the device ecosystem.
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