Author: Fiona Craig
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Market Moves: Futures Dip, Moody’s Downgrade, and Nvidia CEO’s Taiwan Remarks
U.S. stock futures declined modestly on Monday as investors digested Moody’s recent downgrade of the country’s credit rating. Moody’s highlighted concerns about America’s soaring multi-trillion dollar debt, which lawmakers in Washington are debating through a budget proposal that some experts fear could further increase the nation’s financial burdens. Meanwhile, market participants also tracked remarks made…
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Nvidia Plans AI Chip Shipments to China Next Quarter with Modified Blackwell Model Later, Says Nikkei
Nvidia (NASDAQ:NVDA) is set to begin delivering a new AI chip tailored to comply with U.S. export restrictions for China in the upcoming months, according to a report from Nikkei Asia over the weekend. Additionally, the company is preparing to release a modified version of its flagship Blackwell chip specifically for the Chinese market sometime…
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Weekly Preview: Dow Jones, Nasdaq, and S&P 500 Eye Retail Earnings and PMI Data
U.S. equity markets extended their momentum last Friday, with the S&P 500 posting its fifth consecutive gain. All three major indexes ended the week solidly higher despite softer consumer sentiment and persistent inflation worries. The S&P 500 climbed 0.7% to close at 5,958.38, while the Nasdaq Composite added 0.52%, finishing at 19,211.10. The Dow Jones…
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US Tech Giants Fall in Premarket Trading, Tesla and Nvidia Leading Losses
Monday’s premarket session saw notable declines among the top US technology stocks, with Tesla (NASDAQ:TSLA) and Nvidia (NASDAQ:NVDA) heading the sell-off within the so-called Magnificent Seven group. After a recent rally, investors appeared to take profits from these tech heavyweights, contributing to the downward momentum. Additionally, the mood was dampened by Moody’s recent downgrade of…
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Analyst: Bitcoin Bull Market May Have Five More Months to Run Based on Historical Trends
The current Bitcoin bull run could still have significant momentum left, according to a new analysis from Piper Sandler. Analyst Patrick Moley points to historical trends related to Bitcoin’s halving cycles as evidence that the rally may extend for several more months. “Historical data from previous Bitcoin halving cycles suggests that this bull market could…
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Gold Prices Slide, Poised for Worst Weekly Loss Since November Amid Easing Trade Tensions
Gold prices fell on Friday, capping off what appears to be their worst week in months, as easing U.S.-China trade tensions dented demand for safe-haven assets and spurred a broader appetite for risk. By 08:45 ET (12:45 GMT), spot gold slipped 0.8% to $3,178.06 per ounce, while June gold futures dropped 1.5% to $3,180.50 per…
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Tariff Fears Likely Drove iPhone Sales Surge in April, KeyBanc Says
Apple’s iPhone sales in the U.S. spiked sharply year-over-year in April, with new data suggesting consumer anxiety over potential tariffs may have prompted a wave of panic buying, according to a recent survey from KeyBanc Capital Markets. Using its proprietary Key First Look Data (KFLD), KeyBanc reported a 34% increase in iPhone sell-through compared to…
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Lockheed Martin Accelerates European Partnerships Amid Defense Industry Shift
Lockheed Martin (NYSE:LMT), the U.S. defense giant, is moving swiftly to forge new partnerships across Europe, according to Raymond Piselli, the company’s vice president for international business. This push aligns with Europe’s broader strategy to reduce reliance on American defense suppliers and bolster its own military manufacturing capabilities. The company aims to deepen its integration…
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Tesla and Alphabet drive Magnificent Seven shares rebound
Shares of Tesla (NASDAQ:TSLA) and Alphabet (NASDAQ:GOOGL) are spearheading a recovery in the Magnificent Seven group on Friday, following a downturn in the previous trading session. The group, which includes seven of the most influential tech stocks, is set to bounce back as US stock futures are showing an upward trend. The Magnificent Seven shares…
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iPhone 17 to Be Manufactured in India and China, Not the U.S., Says Wedbush
Apple (NASDAQ:AAPL) is intensifying its reliance on Asian manufacturing for the upcoming iPhone 17, with production efforts focused in India and China rather than the United States, according to a new report from Wedbush Securities. In a research note led by analyst Dan Ives, Wedbush stated that recent supply chain checks throughout Asia indicate Apple’s…