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Amazon carries Wall Street to the finish of another winning week and month

Amazon carries Wall Street to the finish of another winning week and month

By STAN CHOE, AP Business Writer

NEW YORK (AP) — Amazon led the U.S. stock market on Friday to the finish of another winning week and month.

The S&P 500 rose 0.3% and pulled closer to its all-time high set on Tuesday. It closed out a third straight winning week and a sixth straight winning month, its longest monthly winning streak since 2021.

The Dow Jones Industrial Average added 40 points, or 0.1%, and the Nasdaq composite gained 0.6%.

Amazon led the way and jumped 9.6%. The retail giant was by far the strongest force lifting the market after reporting profit for the latest quarter that blew past analysts’ expectations. CEO Andy Jassy said growth for its booming cloud-computing business has accelerated to a pace it hasn’t seen since 2022.

Amazon’s massive size of roughly $2.4 trillion means its stock movements carry more weight on the S&P 500 than almost any other company’s. Without it, the S&P 500 would have been down for the day.

Another highly influential stock, Apple, had less of an effect on the market even though it’s bigger than Amazon. The iPhone maker, which is worth more than $4 trillion, swung between modest gains and losses through the day before finishing with a dip of 0.4%. read more

Restaurant surcharges are changing the math for credit card rewards

Restaurant surcharges are changing the math for credit card rewards

A few weeks ago, I was about to pay the HVAC technician who had repaired my home’s heat pump. Out of habit, I pulled a credit card from my wallet — I figured I’d earn rewards on this pricey transaction — but then the tech warned me that his company assesses a 3% surcharge on credit card payments. Thankful for the heads-up, I wrote him a check instead.

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Credit card surcharges aren’t new, but they’re becoming more common. According to J.D. Power’s 2025 U.S. Merchant Services Satisfaction Study, “34% of merchants are adding surcharges for customer purchases made using credit cards.” Compare that number to just a year before, when 20% of merchants reported assessing surcharges, per a 2024 State of the Industry Report from CMSPI, a payments consultancy firm. read more

Instacart, DoorDash, Gopuff among companies offering discounts to SNAP recipients

Instacart, DoorDash, Gopuff among companies offering discounts to SNAP recipients

By DEE-ANN DURBIN, Associated Press Business Writer

Instacart said Friday it will offer customers who receive SNAP benefits 50% on their next grocery order to ease strain as the government prepares to cut off food aid payments.

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Instacart said any customer who placed an order in October using a SNAP/EBT card will be eligible for the discount, which will be available even if the government makes the payments as planned on Nov. 1. Instacart said it is also expanding the number of food banks it supports through online food drives from 100 to 300. read more

After NASA pressure, SpaceX promises speedier timeline for Starship moon lander

After NASA pressure, SpaceX promises speedier timeline for Starship moon lander

After acting NASA Administrator Sean Duffy this month called out SpaceX for Starship delays, Elon Musk’s company has come back with an update defending its progress and offering a speedier plan to get astronauts back on the moon as part of the Artemis program.

“Starship continues to simultaneously be the fastest path to returning humans to the surface of the moon and a core enabler of the Artemis program’s goal to establish a permanent, sustainable presence on the lunar surface,” reads a statement published to SpaceX’s website on Thursday.

Duffy said he would open back up a contract that SpaceX had won in 2021 to be the human landing system for the Artemis III mission that looks to return humans to the surface of the moon for the first time since the end of the Apollo program in 1972.

“I love SpaceX. It’s an amazing company,” Duffy said. “The problem is they’re behind. They push their timelines out, and we’re in a race against China.”

That mission is the follow-on to Artemis II, which is slated to fly around, but not land on, the moon as early as February next year. Artemis III was on NASA’s roadmap to launch by summer 2027, but Duffy said that timeline has been threated, and he was reopening the contract that could bring in Jeff Bezos’ Blue Origin potentially to service that mission instead. read more

Sora app’s hyperreal AI videos ignite online trust crisis as downloads surge

Sora app’s hyperreal AI videos ignite online trust crisis as downloads surge

By Nilesh Christopher, Los Angeles Times

Scrolling through the Sora app can feel a bit like entering a real-life multiverse.

Michael Jackson performs standup; the alien from the “Predator” movies flips burgers at McDonald’s; a home security camera captures a moose crashing through the glass door; Queen Elizabeth dives from the top of a table at a pub.

Such improbable realities, fantastical futures, and absurdist videos are the mainstay of the Sora app, a new short video app released by ChatGPT maker OpenAI.

The continuous stream of hyperreal, short-form videos made by artificial intelligence is mind-bending and mesmerizing at first. But it quickly triggers a new need to second-guess every piece of content as real or fake.

“The biggest risk with Sora is that it makes plausible deniability impossible to overcome, and that it erodes confidence in our ability to discern authentic from synthetic,” said Sam Gregory, an expert on deepfakes and executive director at WITNESS, a human rights organization. “Individual fakes matter, but the real damage is a fog of doubt settling over everything we see,” read more