Stocks flat ahead of next week’s Fed meeting.

"Entertainment is one of the most important things in people’s lives. Without it, they might go off the deep end.” ✍️ — Stan Lee   SUMMARY ✅ U.S. stocks were little changed with few market catalysts ahead of next week’s anticipated Fed meeting. ✅ GAO opens probe into FHFA Chief over alleged political retaliation. ✅ Warner Bros. board leans toward Netflix in high stakes bidding war. ✅ Salesforce pops as earnings beat and AI strategy boosts outlook. ✅ Meta stock jumps as Zuckerberg prepares major Metaverse pullback. ✅ Google cloud teams with Replit to scale AI coding and challenge rivals. MARKET SNAPSHOT ↘ Dow                            47,850.94                        - 0.067% ↗ Nasdaq                       23,505.14                       + 0.22%  ↗ S&P                              6,857.12                       + 0.11% GOVERNMENT Congressional Watchdog Opens Inquiry into FHFA Director Bill Pulte Image courtesy of Kayla Bartkowski/Getty Images The Government Accountability Office (GAO) has launched an investigation into Federal Housing Finance Agency Director Bill Pulte, following accusations that he has leveraged his position to target political opponents of President Donald Trump. Senate Democrats requested the probe, urging the GAO to review whether Pulte and other FHFA officials “misused federal authority and resources” by seeking information on individuals Trump has publicly criticized. Their request highlighted Pulte’s referrals of New York Attorney General Letitia James, Sen. Adam Schiff, Federal Reserve Governor Lisa Cook, and Rep. Eric Swalwell to the Justice Department for alleged mortgage fraud. Despite Pulte’s claims that his actions are impartial, Democrats argue his focus has been directed solely at prominent members of their party. A GAO spokesperson confirmed the request has been accepted and noted that the agency will now determine the investigation’s scope and methodology, a process that could take months. The probe comes as Swalwell, D-Calif., sues Pulte in federal court, alleging the FHFA chief retaliated against him by accessing and leaking confidential mortgage records. “Director Pulte has combed through private records of political opponents to silence them,” Swalwell said in a recent statement. The FHFA has not yet responded to a request for comment. ENTERTAINMENT Warner Bros. Board “Warming Up” to Netflix Offer, Sources Say Image courtesy of Netflix, Warner Bros. According to New York Post reporter Charles Gasparino, the board of Warner Bros. Discovery (WBD) now favors the bid from Netflix (NFLX) over competing offers from Paramount Skydance (PSKY) and Comcast (CMCSA). Gasparino noted in a post on X that the board sees Netflix as “the best steward of the assets.” He added there seems to be strong “chemistry” between Warner Bros. CEO and Netflix co-CEO, suggesting mutual confidence in how the assets would be managed. On Wednesday, Netflix shares fell roughly 5% amid the news; Paramount’s stock dropped nearly 7% on concerns it might lose the deal. Warner Bros. rose about 1%, and Comcast gained 2%. Among the three contenders — Netflix, Comcast, and Paramount — Netflix arguably stands strongest thanks to its solid stock performance, robust balance sheet, and dominant position in streaming. However, such a merger could face major regulatory scrutiny, given the combination of Netflix with Warner Bros.’ streaming platform (HBO Max), which together would represent two of the largest streaming services globally. While supporters argue the merger could benefit consumers by enabling bundled offerings at lower cost, regulators may see the consolidation as anti-competitive. Paramount, for its part, claims it is the most likely to secure approval, citing its smaller streaming footprint and arguing that competing bidders with dominant market share may encounter “perhaps insurmountable” regulatory hurdles. EARNINGS Salesforce Beats on Earnings and Raises Q4 Guidance Image courtesy of ERP Today Salesforce delivered stronger-than-expected earnings and issued a revenue forecast for the upcoming quarter that topped Wall Street estimates — sending its stock up about 2% in after-hours trading. Quarterly performance (ended Oct 31, 2025): Adjusted earnings per share: $3.25, above the $2.86 forecast. Revenue: $10.26 billion — just shy of the $10.27 billion analysts expected — yet still an 8.6% increase year-over-year. Net income rose to $2.09 billion (or $2.19 per share) from $1.53 billion (or $1.58 per share) last year, helped by a $263 million gain from strategic investments. Growth was aided by the company’s cloud-heavy business mix: Its data analytics unit formerly known as Tableau saw cloud services revenue come in stronger than anticipated, earning more up-front recognition than expected. Meanwhile, on-premises Tableau and integration services like MuleSoft are recognized sooner under current accounting rules, boosting quarterly results. Salesforce projected adjusted EPS of $3.02–$3.04 on revenue of $11.13–$11.23 billion — implying 11–12% growth. The plan incorporates contributions from recent acquisition Informatica, as well as continued growth in cloud-based Tableau and MuleSoft services. Some weakness is anticipated in marketing and commerce products. For context: Salesforce’s stock has lagged the broader tech sector this year — down around 29% in 2025 compared with a ~21% gain for the Nasdaq — amid concerns that AI could erode some of its offerings. Key strategic developments: Salesforce last quarter acquired two AI-focused startups: Regrello (AI workflow automation) and Waii (AI-based data query generation). Its newly introduced Agentforce AI — used for automating IT-service requests — now generates over $500 million in annualized revenue, up about 330% from a year ago. The firm has secured over 9,500 paid deals to date (versus 6,000 in September). Free cash flow rose 22% to $2.18 billion — though just under StreetAccount’s $2.24 billion estimate. Overall, Salesforce’s performance and guidance suggest that its pivot toward cloud and AI-based services may be paying off, even if the broader stock hasn’t fully reflected it — bullish signals for investors focused on long-term growth. TECH Meta Shares Rise on Reported Deep Cuts to Metaverse Spending Image courtesy of www.equiti.com Meta Platforms stock jumped roughly 4% Thursday following a Bloomberg report that CEO Mark Zuckerberg is preparing major cutbacks to the company’s metaverse ambitions. Executives are weighing budget reductions of up to 30% for Reality Labs — the division behind Meta’s VR headsets and smart glasses — a shift that would mark a significant pullback from the costly push into the metaverse that prompted the company’s 2021 name change. The cuts, reportedly tied to 2026 financial planning, are expected to include layoffs and focus primarily on the virtual-reality group. The move reflects ongoing pressure on Meta’s metaverse strategy. Reality Labs recorded a $4.4 billion loss last quarter and has accumulated more than $70 billion in losses since late 2020. Meanwhile, Zuckerberg has been increasingly positioning Meta as an artificial intelligence leader instead of a metaverse-first company. Meta declined to comment on the report. ARTIFICIAL INTELLIGENCE Google Strikes Major AI Coding Partnership with Replit Image courtesy of seroundtable.com Google Cloud announced a multi-year partnership with AI coding startup Replit on Thursday, expanding its push into the fast-growing “vibe-coding” arena and sharpening competition with rivals like Anthropic and Cursor. The deal names Google Cloud as Replit’s primary provider and will bring more of Google’s AI models directly into Replit’s platform. The collaboration also aims to accelerate AI-powered software development for enterprise users. Replit has rapidly become a breakout leader in vibe-coding, a trend fueled by AI tools that let users generate working code from simple, natural-language prompts — even without programming experience. The startup recently closed a $250 million round that tripled its valuation to $3 billion and claimed explosive growth, with annualized revenue jumping from $2.8 million to $150 million in under a year. Separate spending data from fintech company Ramp shows Replit is seeing the fastest new-customer growth among software vendors, while Google leads in usage growth on the platform. These metrics highlight why Google sees Replit as a strategic channel to expand AI adoption beyond traditional developers — positioning its tools where the next generation of builders is emerging. The announcement comes amid surging momentum in the coding-AI market: • Anthropic’s Claude Code just hit $1 billion in run-rate revenue • Cursor reached a $29.3 billion valuation and the same revenue milestone Google is leaning into its strength with Gemini 3, the company's top-performing AI model, helping lift Alphabet shares more than 12% since launch. Together, Google and Replit aim to redefine how software is built — and who gets to build it. 📉 ON THE MOVE AND NOTABLES 📈 ✔️ Bond yields are climbing, with the 10-year U.S. Treasury yield reaching 4.09%. ✔️ The U.S. dollar is largely unchanged against major currencies. ✔️ WTI crude oil prices are lower, as talks between the U.S. and Russia failed to yield any progress toward a peace agreement. ✔️ Initial jobless claims for the past week dropped to 191,000, lower than the 221,000 anticipated by analysts. Continuing claims, which track the total number of individuals receiving benefits, remained steady at 1.94 million, also coming in below the forecasted increase to 1.95 million. ✔️ Challenger, Gray & Christmas said layoff plans totaled 71,321 in November, a step down from the massive cuts announced in October but still enough to bring the 2025 total up to 1.17 million. ✔️ The November ISM Services PMI topped expectations, climbing to 52.6 — the strongest level since February and a sign of steady momentum in the services-driven economy.  ✔️ The ADP report showed private payrolls falling by 32,000 versus expectations for a 40,000 increase, with notable weakness among small businesses. ✔️ Weekly mortgage applications dipped 1.4% as 30-year mortgage rates remained well above 6%. ✔️ A stronger-than-expected eurozone composite PMI came in at 52.8 — the best reading since May 2023. ✔️ Corporate America has delivered another strong year: S&P 500 earnings are on track to grow 11.1% in 2025 after a 10.4% gain in 2024.  ✔️ Looking to 2026, earnings growth is expected to broaden, with all 11 S&P 500 sectors projected to post positive gains. ✔️ Bitcoin futures (/BTC) rebounded this week and hit $93,000 before retracing again. ✔️ Micron (MU) is stopping selling memory to consumers as demand spikes from AI chips. ✔️ OpenAI is acquiring Neptune, a startup that helps with AI model training. ✔️ Macy’s (M) fell despite beating earnings and revenue expectations and raising guidance. After a strong run-up into results, today’s drop appears to reflect classic “buy the rumor, sell the fact” positioning. ✔️ American Eagle Outfitters (AEO) jumped after boosting its outlook. JPMorgan upgraded AEO to Neutral from Underweight. ✔️ Microsoft (MSFT) shares headed lower as reports revealed that AI products are missing growth goals. ✔️ Marvell Technology (MRVL) rallied after results came in roughly in line with forecasts and announcing a $3.25 billion acquisition of Celestial AI. ✔️ CrowdStrike (CRWD) eased even as quarterly revenue rose 22% year over year and annual recurring revenue reached $4.92 billion, topping estimates. ✔️ Boeing (BA) soared 10% Tuesday after projecting positive free cash flow in 2026 alongside improved 737 and 787 delivery schedules. ✔️ Nike (NKE) announced a series of leadership changes designed to accelerate decision making as Chief Executive Officer Elliott Hill enters the second year of a corporate reboot. ✔️ Uber (UBER) rose after launching supervised robotaxi service in Dallas through partner Avride — the first step toward future fully driverless operations. ✔️ Snowflake (SNOW) tumbled even though it posted better-than-expected earnings and revenue and projected 27% product revenue growth for the fourth quarter.  ✔️ Dollar General (DG) climbed after reporting strong earnings and raising its guidance. ✔️ Five Below (FIVE) rose after posting earnings and revenue that surpassed expectations. Same-store sales grew more than 14% year over year. ✔️ Tesla (TSLA) surged even as the Trump administration said it would roll back former President Biden’s fuel-economy rules—a development that lifted shares of General Motors and other automakers.  💲What Else to Watch Ahead💲 The Personal Consumption Expenditure (PCE) inflation report for September will be released today, following a delay due to the government shutdown. Analysts expect the headline PCE figure to drop slightly to 2.8% from 2.9% the previous month. Core PCE, which excludes food and energy prices, is forecast to edge up to 2.8% from 2.7%. All eyes are on the Feds next week as they are expected to cut rates again. The bond market is currently pricing in an 87% probability of a rate cut this month, with additional cuts expected next year. Upcoming earnings from Broadcom and Oracle next week could help set the near-term tone for the sector. 🟢 December 5: September personal income and spending, September PCE and core PCE, October factory orders, and University of Michigan preliminary December consumer sentiment.  🟢 December 8: Expected earnings from Toll Brothers (TOL) and Oracle (ORCL). 🟢 December 9: Q3 Productivity, October Job Openings and Labor Turnover (JOLTS) survey and earnings from AutoZone (AZO), Ferguson Enterprises (FERG), Campbell's (CPB), Casey's General Stores (CASY), and GameStop (GME). 🟢 December 10: FOMC rate decision, FOMC projections, and expected earnings from Chewy (CHWY), Adobe (ADBE), and Synopses (SNPS). Watch Our Latest Weekly Video On Youtube Or Spotify "Shutdown Ends, Markets Rip, AI & Crypto Reignite" Disclaimer: We are engaged in the business of advertising and promoting companies. 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