Markets delivered another eventful session on Wednesday as investors reacted to softer-than-feared US inflation data, fresh developments in artificial intelligence, and corporate earnings. Gold climbed to a more than two-month high after inflation matched expectations, while Bitcoin weakened despite easing rate-hike bets. Super Micro Computer surged after delivering stronger-than-expected earnings and an upbeat outlook, while
US stocks finished mixed on Wednesday as gains in artificial intelligence infrastructure companies and a benign inflation report lifted the S&P 500 and Nasdaq, while the Dow Jones Industrial Average closed little changed. The S&P 500 rose 0.26% to 7,748.50, and the Nasdaq Composite gained 0.54% to 26,588.49, supported by strong performances across AI-related technology
Applied Materials stock fell for a second consecutive session as traders turned their attention to the company’s upcoming earnings report. AMAT was trading at around $525 on Tuesday, down roughly 30% from its year-to-date high of $740. The stock’s recent decline will be put to the test this week when the company releases its latest
Cisco Systems (CSCO) shares are inching lower ahead of the AI infrastructure giant’s Q4 earnings scheduled to be released after the market closes on August 11. Consensus is for CSCO to record $1.17 a share of earnings (EPS) for its fourth quarter on $16.85 billion in revenue, representing mid-to-high teen gains in both the top
Oil prices gained on Tuesday as investors weighed signs of progress in talks between Oman and Iran over shipping through the Strait of Hormuz against continued disruptions to global energy supplies from the Middle East and Russia. Brent crude futures rose 1.05%, to $88.64 a barrel, while US West Texas Intermediate crude gained 1.25%, to
Tilray Brands stock rose by nearly 4% as investors rotated to companies in the cannabis industry after a report said that Curaleaf was planning a hostile bid for Aurora Cannabis. TLRY rose to an intraday high of 4.70, up by 25% from its lowest level this year. According to the WSJ, Curaleaf, which is valued
Shares of Upwork were headed for their worst single-day decline in three months on Tuesday after the freelance marketplace issued weaker-than-expected guidance, overshadowing second-quarter results that topped revenue and earnings estimates. Upwork shares fell nearly 13% in trading. For the second quarter, the company reported earnings per share of $0.41 on revenue of $191.7 million,
Hopes of progress toward a US-Iran arrangement over the Strait of Hormuz kept energy markets on edge, while gold hovered near a two-month high ahead of key US inflation data. Bitcoin remained under pressure as investors favored traditional safe-haven assets, and OpenAI saw another senior leadership departure as the company prepares for its planned initial
Wall Street ended lower on Tuesday as rising oil prices and renewed uncertainty over the Strait of Hormuz weighed on investor sentiment, while weakness in major technology stocks added pressure ahead of key US inflation data due later this week. The Dow Jones Industrial Average fell about 188 points, or 0.35%, to close at 53,787.57.
CoreWeave (CRWV) shares are ripping higher in extended hours after the company posted market-beating Q2 earnings, citing accelerating artificial intelligence (AI) infrastructure demand. The Livingston-headquartered firm more than doubled its revenue to $2.58 billion, on a per-share loss of $1.14 – much better than $1.41 a share that analysts had forecast. Including post-earnings gains, CoreWeave