Oil prices traded mixed on Wednesday after major energy agencies lowered their forecasts for global oil demand, offsetting support from continued geopolitical tensions and shipping disruptions in the Middle East. Brent crude futures were down 0.25%, at $88.69, while US WTI crude was up 0.22% and was trading at $83.44. Both benchmarks had traded about
Meta Platforms (META) shares fell about 3.4% to $578 on Wednesday as investors weighed fresh privacy concerns in Europe alongside mounting legal challenges in the US, even as some analysts argued the company’s artificial intelligence investments continue to strengthen its core advertising business. The decline comes after Meta’s recent recovery above $600 lost momentum. The
Microsoft Corp. shares MSFT fell 2% in Wednesday morning trading as investors weighed fresh speculation about the company’s in-house Maia AI chips against its rapidly rising infrastructure spending. While the software giant has not confirmed reports that another Maia processor could launch as early as September, analysts increasingly view Microsoft’s custom silicon strategy as a
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,