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(Reuters) -Core Scientific's board urged its shareholders on Wednesday to vote for the company's proposed sale to CoreWeave. (Reporting by Juby Babu in Mexico City; Editing by Pooja Desai)

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By Noel Randewich (Reuters) -The S&P 500 ended higher on Wednesday, with Morgan Stanley and Bank of America rallying after solid quarterly results, while investors remained focused on the recent increase in China-U.S. trade tensions. Morgan Stanley's shares jumped 4.7% to a record high, while Bank of America rose 4.4% after the top lenders beat Wall Street estimates for third-quarter profit on dealmaking strength.  The S&P 500 banking index rose 1.2% in its first three-day winning streak in more than three weeks. A day earlier, Goldman Sachs and JPMorgan Chase reported solid performance in investment banking and predicted that the business would continue to boom. This week's bank results indicate strength for major U.S. companies as third-quarter earnings season kicks off, and they also provide hints of the economy's health while many macroeconomic reports remain on hold due to a government shutdown. "People are spending, and the consumer seems to be fine. That's been one of the messages from the bank earnings," said Thomas Martin, senior portfolio manager at GLOBALT in Atlanta. "Employment is not falling like a stone. Both inflation and employment are within ranges that are basically reasonable." The Philadelphia Semiconductor Index jumped 3% after ASML reported third-quarter orders and operating income above market expectations, lifted by booming AI investment. ASML's U.S. stock rallied 2.7%. An investment consortium including BlackRock, Microsoft and Nvidia will buy one of the world's biggest data center operators in a $40 billion deal. Shares of data center firms rose, with Applied Digital surging. The S&P 500 climbed 0.40% to end the session at 6,671.06 points. The Nasdaq gained 0.66% to 22,670.08 points, while the Dow Jones Industrial Average declined 0.04% to 46,253.31 points. Seven of the 11 S&P 500 sector indexes rose, led by real estate, up 1.5%, followed by a 1.29% gain in utilities. Volume on U.S. exchanges was relatively heavy, with 21.5 billion shares traded, compared with an average of 20.4 billion shares over the previous 20 sessions. U.S. Treasury Secretary Scott Bessent told CNBC that Washington did not want to escalate a trade conflict with China, emphasizing that President Donald Trump is ready to meet Chinese President Xi Jinping in South Korea later this month. On Tuesday, Trump said Washington was considering cutting some trade ties with China, including in relation to cooking oil. The two countries this week began imposing tit-for-tat port fees. Bessent also said he plans to present three or four Federal Reserve chief candidates to Trump for him to interview sometime after the U.S.  Thanksgiving holiday. Fed Governor Stephen Miran at a CNBC event said "two more cuts this year sounds realistic," noting that the labor market has clearly weakened. Fed Chair Jerome Powell on Tuesday also left the door open to rate cuts.  The Fed said in its latest Beige Book report compiled through October 6 that some employers reported cutting jobs due to economic uncertainty, and in some cases, due to increased investment in AI. The report also showed the labor supply in hospitality, agriculture, construction and manufacturing was strained due to the Trump administration's crackdown on illegal immigration. Abbott declined 2.4% following downbeat quarterly revenue from the medical equipment maker. Progressive Corp fell 5.8% after the insurer reported third-quarter results. Bunge jumped almost 13%, despite the grain trader lowering its 2025 earnings forecast following its merger with Viterra. The number of declining stocks matched rising ones within the S&P 500. The S&P 500 posted 34 new highs and 5 new lows; the Nasdaq recorded 154 new highs and 46 new lows. (Reporting by Sukriti Gupta and Twesha Dikshit in Bengaluru, and by Noel Randewich in San Francisco; Editing by Maju Samuel and Matthew Lewis)

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By Chibuike Oguh NEW YORK (Reuters) -The U.S. dollar fell against the euro and yen on Wednesday with market sentiment weakened by the continuing trade tensions between the U.S. and China. Traders analyzed comments from Federal Reserve Chair Jerome Powell for cues on upcoming rate cuts amid a U.S. government shutdown, which has hampered the timely release of key data. The dollar weakened 0.39% to 151.24 against the Japanese yen and was down 0.49% to 0.797 against the Swiss franc, on track for the second straight session of losses against both safe-haven currencies.  Top U.S. officials, including Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer, blasted China's major expansion of rare earths export controls as a threat to global supply chains. Greer described China's export controls as a complete repudiation of U.S.-Chinese trade agreements over the past six months although he and Bessent stressed that Washington did not want to escalate the conflict. President Donald Trump had threatened to impose tariffs on China last week in retaliation. The Chinese commerce ministry defended the rare-earths controls, pointing to a series of U.S. measures on Chinese goods and companies and calling it hypocritical. "The market is showing an impressive ability to shrug off trade-related headlines and there's a firm belief that the U.S. and China will find a way to move forward and will make an agreement," said Adam Button, chief currency analyst at ForexLive. "The headlines continued to be inflammatory, including today from Bessent and Greer. But the market saw how Trump quickly de-escalated over the weekend and doesn't yet believe he wants a real fight." The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, fell 0.32% to 98.72, on track for the second consecutive session of losses. The Fed's Beige Book showed that U.S. economic activity was little changed and employment was largely stable in recent weeks, although there were emerging signs of weakness including more layoffs and middle- and lower-income  households pulling back on spending.  Powell, in a speech on Tuesday, left the door open to rate cuts by saying the U.S. labor market remained mired in low-hiring, low-firing doldrums. He said the absence of official economic data due to the government shutdown has not prevented policymakers from being able to assess the economic outlook, at least for now. Markets are currently priced for a quarter-point cut at the October 28-29 Fed gathering and another at the following meeting in December, followed by three more cuts next year, according to LSEG data. The yield on benchmark U.S. 10-year notes fell 1.6 basis points to 4.038%. Wall Street stocks finished mostly higher as companies continued to report strong results as the quarterly earnings season kicked off. The Dow Jones Industrial Average fell 0.04%, the S&P 500 rose 0.40% and the Nasdaq Composite rose 0.66%.   The euro rose 0.35% to $1.1646 after gaining 0.3% in the previous session, supported by the French government's proposal to suspend landmark pension reforms. "Even if the French political upheaval has started to moderate, outright bullish catalysts are lacking for the euro at this stage," TS Lombard analysts led by Daniel von Ahlen wrote in an investor note. "Meanwhile, the recent performance of the EUR/USD is now on par with the past rallies following maor policy announcements in the euro area, which adds to our tactical caution on the common currency." The New Zealand dollar edged up only 0.1% to $0.5721, after dipping to a six-month low of $0.56839 on Tuesday.  The Aussie climbed 0.39% to $0.651, after falling 0.5% a day earlier, when it touched the lowest since August 22 at $0.64405.     (Reporting by Chibuike Oguh in New York; Additional reporting by Chuck Mikolajczak in New York, Kevin Buckland in Tokyo and Lucy Raitano in London; Editing by Aurora Ellis and Cynthia Osterman)

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