Business & Finance Summary

In business news today, Lidar-maker Luminar has filed for bankruptcy amid significant legal turmoil and layoffs, reflecting a cooling autonomous vehicle market. Meanwhile, JPMorgan Chase is stepping further into the cryptocurrency space with plans to introduce a tokenized money fund, aligning itself with the growing trend of traditional financial firms incorporating blockchain technology.

Markets are also bracing for key economic data releases, including payrolls and retail sales, as the U.S. job market continues to show signs of sluggishness, with estimates suggesting employers added about 40,000 jobs in November, according to sources.

Additionally, Asian shares and U.S. futures have experienced declines ahead of the anticipated U.S. jobs report, signaling investor caution as economic indicators remain mixed.