What You Need Today Before Markets Open: Nasdaq, Apple, Bitcoin

The Nasdaq Composite closed above 20,000 for the first time on Wednesday, ending the day at 20,034.89 — a 1.77% gain. Tech stocks powered the surge, with four of the sector’s seven largest companies hitting record highs.

Meanwhile, the S&P 500 rose 0.82%, showing broad market strength. The Dow Jones Industrial Average, however, dropped 99.27 points, or 0.22%, making it the day’s outlier.

The moves followed November’s inflation report, which matched economists’ expectations. This gave investors confidence that interest rate policy would remain steady.

Apple Adds ChatGPT to Siri in Latest Software Update

Apple (NASDAQ:AAPL) released its latest software update on Wednesday, introducing a game-changing feature: Siri can now access ChatGPT.

The update applies to iPhones, iPads, and Macs. Apple says ChatGPT will step in when users ask Siri complex questions. The company hopes the new AI-powered assistant will increase iPhone sales and spark an upgrade cycle.

Apple has built privacy protections into the feature, aiming to ease user concerns about data security. This move signals Apple’s commitment to staying competitive in the AI race.

Bitcoin Tops $101K as Risk Appetite Returns

Bitcoin surged on Thursday, continuing a strong overnight rally. The world’s largest cryptocurrency jumped 2.9% to $101,000 at 04:05 ET (09:05 GMT).

The rise follows inflation data that matched forecasts, leading investors to bet on a possible rate cut in December. This shift in sentiment boosted demand for risky assets like Bitcoin.

The rally also marks a break from Bitcoin’s recent trading range of $90,000 to $100,000. It has now recovered all losses from the past week.

Albertsons Sues Kroger After Merger Deal Falls Apart

Albertsons (NYSE:ACI) is suing rival supermarket chain Kroger (NYSE:KR), claiming Kroger violated the terms of their proposed $25 billion merger.

The lawsuit, filed Wednesday, comes after a judge blocked the deal. If approved, the merger would have combined nearly 40 supermarket brands, including Kroger’s Fred Meyer and Albertsons’ Safeway, into one company.

After the court's decision, Albertsons ended the merger proposal. It now alleges that Kroger failed to meet its obligations to support regulatory approval of the deal.

The dispute has been described as a "corporate divorce battle." The two companies are arguing over legal fees and a possible breakup fee. The case could set a precedent for how merger failures are handled in the retail sector.