Category: Latest News
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Oil Steadies Amid OPEC+ Supply Talks and U.S. Shutdown Concerns
Oil prices found some stability on Wednesday after two consecutive days of losses, as traders weighed the potential impact of an OPEC+ production increase next month and the uncertainty surrounding the U.S. government shutdown. December Brent futures edged up 25 cents to $66.28 per barrel by 06:43 GMT, while West Texas Intermediate (WTI) futures rose…
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Gold Nears $3,900 as U.S. Government Shutdown Sparks Safe-Haven Demand
Gold prices climbed to record territory in Asian markets on Wednesday as the U.S. government entered a shutdown after Congress failed to pass new federal funding. Spot gold touched $2,875.53 per ounce, while December futures reached a peak of $3,903.45/oz. By early Asian trading at 00:22 ET (04:22 GMT), spot gold traded slightly below its…
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Dow Jones, S&P, Nasdaq, Wall Street Futures, Markets React to U.S. Shutdown, Nike Earnings, and Record Gold
U.S. stock futures tumbled Wednesday as the federal government shut down, pushing investors toward gold as a safe haven amid worries over potential economic fallout. Nike provided a rare bright spot, with first-quarter results suggesting that its turnaround plan is gaining traction. U.S. Government Shutdown Takes Effect The U.S. government ceased most operations Wednesday after…
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Stellantis to Temporarily Suspend Production at Two French Plants – Report
Stellantis NV (NYSE:STLA) is set to temporarily pause operations at two of its French manufacturing sites in late October, according to French newspaper Les Echos. The automaker will stop activity on one production line at its Mulhouse plant from October 27 to November 2, the report said, citing a statement from the workers’ union. Meanwhile,…
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U.S. Stocks Close Mostly Higher On Late-Day Strength
After moving mostly higher over the two previous sessions, stocks fluctuated over the course of the trading day on Tuesday. The major averages bounced back and forth across the unchanged line for much of the session before a late-day advance. The upward move seen going into the end of the day helped the major averages…
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DraftKings shares drop as Robinhood reports record options activity
DraftKings Inc. (NASDAQ:DKNG) saw its stock decline 8%, while Flutter Entertainment (NYSE:FLUT) fell 7% on Tuesday, following Robinhood Markets’ (NASDAQ:HOOD) disclosure of strong trading volumes for September and its plans to expand prediction markets internationally. Robinhood reported around 187 million option contracts traded between September 1 and September 25, reflecting the platform’s growing traction among…
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Beam Global shares soar after patent granted for battery thermal management system
Beam Global (NASDAQ:BEEM) shares jumped 8.5% on Tuesday following news that the company secured a patent for its Intelligent Battery Thermal Management (iBTM) system, designed to enable rapid charging of lithium-ion batteries in extremely cold conditions. The U.S. Patent and Trademark Office awarded Patent No. US 12,431,549 for Beam’s technology, which combines a heating element…
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U.S. Job Openings Rise Slightly in August as Hiring Remains Steady
New data from the U.S. Labor Department shows that job openings increased modestly in August, slightly surpassing economists’ expectations. The report could provide one of the last snapshots of the American labor market ahead of a potential U.S. government shutdown this week. The number of available positions, a measure of worker demand, rose to 7.227…
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Consumer Confidence Falls Short of Expectations Amid Economic Caution
The Conference Board released its latest Consumer Confidence report, revealing a modest decline in consumer optimism. The CB Consumer Confidence Index came in at 94.2, missing both the forecast of 96.0 and last month’s reading of 97.8. The lower-than-expected figure signals that consumers are taking a more cautious view of the economy than analysts had…
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SEC Explores Blockchain-Based Stock Trading Despite Pushback
The U.S. Securities and Exchange Commission is reportedly working on a framework to allow stocks to be traded using blockchain technology, similar to how cryptocurrencies are exchanged, according to sources cited by The Information. The initiative is considered a key element of the Trump administration’s crypto-focused regulatory agenda, and could potentially enable investors to buy…