Gold prices continued to slump on Wednesday as a fresh escalation in tensions in the Middle East dampened sentiments in the market. Oil rebounded from sharp losses on Tuesday as prices jumped more than 2% after both the US and Iran traded military strikes overnight. Meanwhile, both copper and aluminium contracts on the London Metal
The United States has become the world’s largest oil exporter, surpassing traditional heavyweights Saudi Arabia and Russia, a dramatic shift accelerated by the ongoing US-Iran war and years of shale-driven production growth. This milestone marks a profound reversal for a country that once suffered greatly from the 1973 Arab oil embargo, imposed in retaliation for
Chewy Inc (CHWY) opened in the “red” this morning after coming in shy of EPS estimates for its fiscal Q1 and offering guidance that signals continued weakness in the current quarter. Investors are bailing on CHWY mostly because the financial release reinforces CEO Sumit Singh’s recent comment that the US consumer is more “stretched” than
OpenAI and Anthropic are heading toward the public markets with trillion-dollar ambitions, but their fight for enterprise customers is now shifting to price. OpenAI is weighing steep cuts to what it charges developers for AI tokens, according to a Wall Street Journal report, as it prepares for a possible pricing battle with Anthropic. The discussions
Mercedes-Benz has announced a partnership with German startup Tytan Technologies to manufacture vehicles for anti-drone systems, marking the latest move by a European automaker into the defence sector. The German carmaker signed a memorandum of understanding with Tytan Technologies at ILA 2026, the International Aerospace Exhibition, on Wednesday. Under the agreement, Mercedes-Benz will produce vehicles
The EUR/GBP exchange rate has moved sideways in the past few days as traders focus on the upcoming European Central Bank (ECB) and Bank of England (BoE) interest rate decisions. It was trading at 0.8627, down from last year’s high of 0.8865. It has formed two major chart patterns, pointing to more downside. EUR/GBP has
Micron stock (NASDAQ: MU) has dropped sharply after one of the most powerful rallies in the AI trade. The memory-chip maker has fallen about 12% over the past five trading sessions, with some market reports putting the slide closer to 13%. That sounds dramatic, but it follows an even bigger move in the other direction.
European stock index futures were relatively mixed today, June 11, as investors watched the developments in the Middle East and the impact on the energy market. They also wavered ahead of the European Central Bank (ECB) interest rate decision. Futures tied to the German DAX dropped by 80 points to €24,160. It has retreated by
Shares of Hugo Boss rose sharply on Thursday after Britain’s Frasers Group announced a takeover offer worth approximately €1.98 billion ($2.3 billion) for the German fashion company. The offer comes from Hugo Boss’ largest shareholder, Frasers Group, which already owns slightly more than 26% of the company’s shares. Frasers has proposed a cash offer of
Ethereum has fallen nearly 14% from its June high and dropped below several long-term trend indicators, leaving the market focused on whether support near $1,600 can withstand mounting derivatives exposure. Santiment data showed Ethereum is approaching a milestone of 200 million non-empty wallets, while CryptoQuant data pointed to record futures positioning on Binance. Yet despite