Anthropic is reportedly targeting a valuation of at least $2 trillion in a potential October IPO, while Chinese memory-chip maker CXMT has overtaken Tencent to become the country’s most valuable listed company. Gold prices retreated from two-month highs as investors booked profits after fresh US inflation data, and oil pared steep losses after reports of
US stocks ended higher on Thursday, with the S&P 500 closing at a fresh record as easing inflation data, falling oil prices and continued strength in technology shares lifted investor sentiment. The S&P 500 rose 0.66% to close at 7,799.73 after briefly crossing the 7,800 mark for the first time during the session. The Nasdaq
Zeta Global stock pared back some of its gains from earlier this week as investors booked profits following its earnings report. It retreated to $23 from this week’s high of $24.45. It remains about 65% above the lowest level this year, giving it a market capitalization of over $6 billion. Zeta Global stock dropped despite
Oracle stock has rebounded in the past few days as investors have rotated to technology names as the earnings season gains steam. ORCL jumped to $145 on Tuesday, up by 27% from its lowest level this year. So, is the stock a good buy as its CDS spread jumps to a record high? Oracle’s CDS
Hiring at US private companies slowed sharply in July, with healthcare accounting for the bulk of new jobs as employers adopted a more cautious approach to recruitment amid shifting economic conditions. According to payroll processing firm ADP, private nonfarm employment rose by a seasonally adjusted 44,000 jobs during the month, falling well short of economists’
US stocks opened higher on Wednesday as investors balanced optimism over a potential diplomatic breakthrough in the Middle East against disappointing market reactions to earnings from SpaceX and Advanced Micro Devices (AMD). The Dow Jones Industrial Average rose about 0.76%, while the S&P 500 gained 0.59%. The Nasdaq Composite added roughly 0.41%, following a strong
Cisco Systems stock is in a strong bull run this year and is the best-performing company in the Dow Jones Index. It has jumped by 60%, beating other top companies like Caterpillar, Travelers, Chevron, and Coca-Cola. This surge happened as the company became a major provider of AI infrastructure solutions. Cisco Systems’ business is booming
The New York Times NYT shares fell more than 12% in trading on Wednesday after the publisher reported slower-than-expected digital subscriber growth for the second quarter and issued a weaker-than-anticipated outlook for digital subscription revenue. The media company added about 280,000 net digital-only subscribers during the quarter, below analysts’ average estimate of 295,300 compiled by
Nvidia stock (NVDA) rose sharply on Wednesday after Elon Musk said SpaceX would build its artificial intelligence infrastructure exclusively around Nvidia’s processors. The stock climbed 4.6% to about $221 in early trading. The gains also came as rival Advanced Micro Devices looked set for a weaker session, with its shares falling more than 5% in
Eli Lilly stock LLY gained 6% on Wednesday after delivering a stronger-than-expected second quarter as robust demand for its blockbuster GLP-1 medicines Mounjaro and Zepbound lifted revenue and profit well above Wall Street expectations. This has prompted the drugmaker to raise its full-year revenue outlook. The company reported adjusted earnings per share of $8.38, comfortably