Category: Top Story
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Citi Predicts Further Declines in Brent Crude Prices for Q4 2025
Crude oil prices have faced significant downward pressure this week, and Citigroup anticipates further losses in the final quarter of 2025. As of 06:35 ET (10:35 GMT), Brent crude futures were trading 0.6% higher at $64.49 a barrel, while U.S. West Texas Intermediate (WTI) crude gained 0.6% to $60.84 a barrel. Despite this intraday bounce,…
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Record two-week large-cap selloff seen among BofA clients
Clients of Bank of America Securities have recorded unprecedented sales of large-cap equities over the past two weeks, marking one of the most significant moves since 2008. According to the bank, clients were net sellers of individual stocks for the third consecutive week, with last week’s outflows totaling $5.7 billion, following a prior week also…
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Gold Climbs to New Record Levels as Investors Brace for 2026
Gold prices surged to new record highs this week as political uncertainty in Washington drove investors toward safe-haven assets. The rally comes in the wake of a U.S. government shutdown, following the failure of a Senate vote on a Republican-backed spending bill. This environment has kept traders favoring precious metals, which also saw gains this…
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White Mountains to Sell Majority Stake in Bamboo to CVC Capital Partners
White Mountains Insurance Group (NYSE:WTM) announced on Friday that it has finalized an agreement to sell a controlling stake in Bamboo to investment funds advised by CVC Capital Partners. Bamboo, a tech-driven insurance distribution platform, offers homeowners’ insurance and related products to the residential property market in California and Texas. The deal is expected to…
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Reddit Shares Jump on Strong Advertising Revenue Outlook
Reddit (NYSE:RDDT) saw its stock climb 5% Friday, recovering from recent declines after bullish analyst commentary highlighted the platform’s advertising revenue potential despite lingering user concerns. Shares had fallen 14% over the last five days amid worries over declining daily active users (DAUs) and reduced citation share on ChatGPT. However, Citizens analyst Andrew Boone offered…
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Roblox Shares Dip on Slower Growth in Key Markets
Roblox Corp. (NYSE:RBLX) saw its stock fall 4% Friday morning as investors weighed concerns over slowing growth in its primary markets. M Science analyst Corey Barrett noted that while Daily Active User (DAU) growth remained robust worldwide in September, the company’s bookings expansion “has decelerated sharply from recent highs in the U.S. and to a…
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American Express Hit with Fine by India’s Central Bank Over Card Regulation Breaches
American Express Banking Corp (NYSE:AXP) has been fined 3.18 million rupees ($35,818) by the Reserve Bank of India for failing to adhere to credit and debit card issuance rules. The central bank stated that American Express did not return certain credit balances to cardholders, arising from refunds, failed transactions, or reversals, which should have been…
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Dow Jones, S&P, Nasdaq, Wall Street Futures Point to Higher Open Amid Ongoing Shutdown
U.S. equity futures were modestly higher early Friday, suggesting the market could build on its record-setting run even as the government shutdown drags on with no clear resolution in sight. Markets Defy Political Gridlock The rally in stocks has persisted despite warnings from policymakers that the standoff in Washington could weigh on the broader economy.…
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Ovid Therapeutics Shares Surge After Positive Epilepsy Drug Trial Results
Ovid Therapeutics Inc. (NASDAQ:OVID) stock jumped 20% following the announcement of encouraging topline results for its next-generation GABA-aminotransferase inhibitor, OV329. The Phase 1 study highlighted strong inhibitory activity and a potential best-in-class safety profile for the therapy. The trial involved 68 healthy volunteers and demonstrated that OV329 achieved statistically significant inhibition of GABA-AT across several…
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Applied Materials Shares Drop After Warning of Revenue Impact from New U.S. Export Rule
Applied Materials (NASDAQ:AMAT) shares fell 2.5% in premarket trading on Friday after the semiconductor equipment maker flagged a potential revenue hit from a recently introduced U.S. export control measure. In a regulatory filing Thursday, the company said the Bureau of Industry and Security’s new affiliate rule would reduce fiscal fourth-quarter sales by approximately $110 million…