Market brief
Trump hosts Xi; Akamai signs Anthropic deal – Market Brief, Sep 25, 2026
Published Sep 25, 2026
Trump and Xi meet as China confirms first AI talks; Akamai lands a $12 billion Anthropic cloud deal; Costco beats but investors stay cautious.
Takeaway: US-China relations set the tone: Washington hosted a state dinner for China's leader as Beijing confirmed the two sides have begun talking about artificial intelligence. On the corporate side, Akamai said it will supply cloud computing to AI developer Anthropic in a deal reported at $12 billion, and Costco's quarterly results came in ahead of expectations without fully reassuring investors. A Federal Reserve official also signaled that further rate increases may be needed.
Trump hosts Xi as China confirms first AI talks
President Trump hosted Chinese President Xi Jinping at the White House on Thursday, including a state dinner. Ahead of the talks, China confirmed that a first round of AI discussions with the US had taken place and hinted that a trade truce could be extended. Xi urged the US to cooperate on artificial intelligence.
Why it matters. Tariffs and export restrictions between the two countries affect costs and sales for many listed companies. If a trade truce is extended, it could reduce some uncertainty for importers and exporters, though the sources do not say any agreement has been reached.
Sources: CNBC · CNBC (2) · CNBC (3)
Akamai to supply cloud computing to Anthropic
Akamai agreed to provide cloud-computing services to AI developer Anthropic in a deal reported at $12 billion, and Akamai's stock rose on the news.
Why it matters. It is a large, long-horizon commitment from an AI company to a vendor that is much smaller than the big cloud providers. Site data shows Akamai's most recent published analysis is for Q2 2026; a contract of this size may change how investors view its growth, though the sources give no timing or revenue breakdown.
Sources: MarketWatch
Fed official says more rate hikes may be needed
Philadelphia Fed President Anna Paulson said 'modest' interest-rate moves are likely ahead and that she and colleagues may need to raise rates further to bring inflation back to the Fed's target.
Why it matters. Higher policy rates raise borrowing costs for companies and households. Separately, Morgan Stanley said it had been wrong on the US dollar, citing rising bond yields and expected Fed hikes as reasons its forecast did not hold, which suggests rate expectations are reshaping currency and bond views.
On this site: MS Q2 2026 analysis
Sources: CNBC · MarketWatch
Costco beats forecasts, helped by tariff refunds
Costco's fourth-quarter results came in above expectations, with tariff refunds contributing to the profit beat. Reporting said investors remained cautious despite the beat.
Why it matters. A profit boost from tariff refunds is a one-off item rather than stronger day-to-day selling, which may explain the muted reaction. The site's latest Costco analysis covers full-year 2026 with revenue of $303.2B, up 10.1%, and EPS of $20.76, up 14.0%.
On this site: COST Full Year 2026 analysis
Sources: MarketWatch
Novo Nordisk signs licensing deal worth over $1 billion
Days after a capital-markets day that left investors questioning its direction, Novo Nordisk agreed a licensing deal valued at more than $1 billion with a Swedish company, whose shares rose on the news.
Why it matters. Licensing deals let a large drugmaker add to its pipeline without developing a treatment itself. The sources do not name the drug or the terms beyond the headline value.
Sources: MarketWatch
Fed seeks comment on stablecoin issuer rules
The Federal Reserve Board asked for public comment on two proposals that would set up a regulatory framework for payment stablecoin issuers it supervises, under the GENIUS Act.
Why it matters. Stablecoins are digital tokens meant to hold a fixed value against a currency. Formal Fed supervision rules could determine which banks and payment firms can issue them, though these are proposals open for comment, not final rules.
Sources: Federal Reserve
What to watch next
- Micron reports earnings next week; an analyst is watching for customer agreements, pricing and buybacks
- Comment period on the Fed's two proposed stablecoin issuer rules
- Whether the US-China trade truce is extended following this week's talks
This brief is written automatically by an AI system from public feeds (official releases, SEC filings and financial press headlines). It paraphrases and links to each source and may miss context in the full articles, so check the linked sources before relying on it. For information only; not investment advice.
Related analyses
- Costco (COST) · Full Year 2026Revenue $303.2B (+10.1%) · EPS $20.76 (+14.0%)
Costco's FY2026 revenue rose 10.1% to $303.2B and EPS 14.0% to $20.76; Q4 EPS of $6.75 included a $0.15 tariff-refund benefit, and higher gas prices lifted the headline comps.
- Morgan Stanley (MS) · Q2 2026Revenue $21.3B (+27.1%) · EPS $3.46 (+62.4%)
Morgan Stanley grew Q2 2026 net revenues 27% to $21.3bn and net income 58% to $5.6bn, but roughly three-quarters of the revenue increase came from Institutional Securities — equity trading up 69%, concentrated in Asia — while Wealth Management fee-based flows fell and Investment Management fee rates compressed.
- Costco (COST) · Q3 2026Revenue $70.5B (+11.6%) · EPS $4.93 (+15.2%)
Costco's 12% net sales growth in fiscal Q3 2026 was inflated by a 20% jump in gasoline prices and a currency tailwind; comparable sales excluding both actually slowed to 7% from 8%, and about 4 of the 15 points of EPS growth came from interest income and a lower tax rate.
For information only; not investment advice. Methodology