Markets
Matt Phillips

Trump Media surges after SPAC merger

The SPAC-related saga of Truth Social’s parent company culminated Tuesday, with the debut of Trump Media & Technology Group as a publicly traded stock.

Its appearance on the public markets comes after the money-losing company — it lost $49 million in the first three quarters of 2023, according to SEC filings — was merged with a publicly traded, cash-rich shell company, Digital World Acquisition Corporation, on Monday. Former President Donald Trump owns nearly 60% of the shares in the company, which was valued at $5.8 billion before trading began.

The shares surged more than 40% in their first day of trading, which would make the former president’s stake worth more than $5 billion. That’s a welcome windfall for Trump, whose finances came under strain after he was found liable of committing business fraud in New York state and ordered to pay a $454 million judgement, which Trump is appealing.

$5.8 billion

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Tasha Matsumoto
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Stocks climb higher as investors shake off hawkish Fed commentary

The S&P 500 and Nasdaq 100 continued their streak of monthly wins.

MADRID, SPAIN - JUNE 18: Actor Sacha Baron Cohen (C) attends "Bruno" photocall at Plaza de Toros de Las Ventas on June 18, 2009 in Madrid, Spain.
Western Digital Stock Rallies as Wall Street Raises Estimates

Western Digital rallies as Wall Street sees more gains ahead

Analysts responded to yesterday’s Western Digital earnings by rapidly ramping up price targets.

Matt Phillips10/31/25
Luke Kawa
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December rate cut odds creep lower with Federal Reserve hawks out in full force

A cacophony of hawkish commentary.

Federal Reserve To Make Highly Anticipated Interest Rate Announcement This Week
markets
J. Edward Moreno

Gene-editing stocks rally on Bloomberg report that FDA plans to fast-track approval process

Shares of biotechs working with gene-editing treatments rose after the industry’s top regulator told Bloomberg News that the Food and Drug Administration plans to publish a paper in early November outlining the agency’s new, faster approach to approving those treatments.

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FDA Clears Way for Faster Personalized Gene Editing Treatments

FDA Clears Way for Faster Personalized Gene Editing Treatments
Jon Keegan
10/31/25
Amazon pulled off its monster quarter despite being left out of OpenAI’s tangle of deals

Amazon’s AWS revenue grew 20% year on year, and will hit $125 billion in capex for the year. CEO Andy Jassy said the 14,000 jobs cut weren’t about money, but about “culture.”

AWS re:Invent 2024

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