US Stock Market - Nasdaq Index Closes at All-Time High, Investors Focus on Corporate Earnings

Updates headline, adds details in paragraphs 2-10 By Mike Scarcella WASHINGTON, Oct 5 (Reuters) - McDonald's MCD.N has been sued in federal court in Chicago in a proposed nationwide class action alleging the fast-food company illegally coordinates menu prices across its franchises and company-owned restaurants through an AI-powered pricing system. The lawsuit, filed on Friday, said McDonald’s violated US antitrust law by conspiring with independent franchisees to fix prices using algorithms trained on nonpublic data. Reuters reported last week that McDonald’s pricing engine uses machine-learning algorithms to continually analyze data from millions of daily transactions across its nearly 14,000 restaurants. The lawsuit cited the Reuters article, which said other fast-food companies are also turning to AI to help with pricing and other operations. "Independent businesses must set their prices independently," the lawsuit said. McDonald’s, in a statement on Monday, called the allegations speculative and uninformed. "AI does not set the price of a Big Mac or any other menu item," the company said. It said franchisees make their own pricing decisions, and that the use of pricing recommendation tools and analytics is widespread across industries. US plaintiffs have filed a wave of class actions in recent years alleging that companies used algorithms or AI to illegally coordinate prices for hotel rooms, apartment rentals and other purchases. Lark Turner, a lawyer for the plaintiff, said in a statement, that McDonald's is "leveraging its troves of data and its franchised system to nickel-and-dime consumers down to the last French fry." The plaintiff, an Illinois resident, is seeking to represent a class of potentially millions of McDonald's customers, the lawsuit said. (Reporting by Mike Scarcella; Editing by David Bario and Rod Nickel)

Purple Innovation received a Nasdaq notice of noncompliance tied to minimum market value of publicly held shares for the Nasdaq Global Select Market. Nasdaq flagged the company’s publicly held share value below $15 million for 30 consecutive business days. Shares remain listed and trading while a 180-day cure period runs through March 29, 2026. Compliance requires publicly held share value at or above $15 million for at least 10 consecutive business days. Failure to cure could trigger a delisting notice, appeal process, or a potential transfer application to the Nasdaq Capital Market. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Purple Innovation Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001213900-26-106812), on October 05, 2026, and is solely responsible for the information contained therein.

03:55 PM EDT, 10/05/2026 (MT Newswires) -- Energy stocks advanced late Monday afternoon, with the NYSE Energy Sector Index rising 1.1% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.8%. The Philadelphia Oil Service Sector Index was climbing 3.6%, and the Dow Jones US Utilities Index increased 0.6%. In geopolitical news, Saudi Arabia-backed Yemeni government forces advanced on Monday to retake the coast around the Bab el-Mandeb Strait, a chokepoint similar to the Strait of Hormuz, pushing the Iran-backed Houthis out of most of the areas they had seized in September, Reuters reported. Meanwhile, Iran's Interior Minister Eskandar Momeni travelled to Doha at the invitation of his Qatari counterpart, Al Jazeera reported. Front-month West Texas Intermediate crude oil fell 2.2% to $89.07 a barrel, and the global benchmark Brent crude contract shed 2.1% to $100.07 a barrel. Henry Hub natural gas futures rose 0.9% to $3.06 per 1 million BTU. In corporate news, Cenovus Energy (CVE) has agreed to buy fellow Canadian energy company Athabasca Oil in a cash-and-stock deal with an implied enterprise value of roughly 5.7 billion Canadian dollars ($4 billion), as it aims to expand its core oil sands business. Cenovus shares were down 2.9%. Chevron (CVX) said Jeff Gustavson, who currently serves as president of its New Energies unit, has been appointed as chief financial officer, effective Jan. 1, 2027. Shares eased 0.3%. Suncor Energy (SU) agreed to sell its interests in the Terra Nova, White Rose and West White Rose offshore assets to Ithaca Energy for 1.2 billion Canadian dollars ($841.3 million) in upfront cash, plus up to CA$350 million in contingent payments, Suncor said Sunday. Suncor shares were down 1.1%. BP (BP) CEO Meg O'Neill said Monday that the company has adjusted its refineries to maximize diesel production amid sharper prices of the commodity. Speaking at the Energy Intelligence conference in London, O'Neill said that the company has been able to adapt and respond to changing customer needs. BP