The Day Ahead

• Amazon plans smartphone comeback: Amazon is reportedly planning to re-enter the smartphone market, a decade after its Fire Phone failed.
• Super Micro shares plunge: Super Micro shares fell after its co-founder and two others were charged with smuggling AI chips to China.
• FedEx shares pare gains: FedEx's stock gains were cut due to a weak quarterly forecast and concerns over the Iran war, despite a raised annual outlook.
• Dealmaking to pick up: Goldman Sachs CEO expects mergers and acquisitions to accelerate in 2026, despite risks from the Iran war.
• Trian opposes Victory's bid: Trian Fund Management has concerns about Victory Capital's sweetened rival bid for Janus Henderson.

MARKET RECAP AT 4 pm ET

• Wall Street: Slumped, led by Nvidia and Microsoft.
• Treasury yields: Climbed due to Middle East tensions.
• Oil: Prices remained high, fueling inflation concerns.
• Gold: Edged lower as the dollar strengthened.