Economy

Economy
Economy

Dow sinks 480 points as AI selloff deepens, chip stocks extend losses

Wall Street’s main indexes opened lower on Friday as investors continued to pull back from semiconductor stocks, extending a broader reassessment of the artificial intelligence-driven rally that had powered markets to record highs earlier this year. The Dow Jones Industrial Average fell about 486 points, or 0.9%, while the S&P 500 lost 1.1%. The Nasdaq

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Economy

Gold struggles under $4,000 as housing recovery fails to lift sentiment

Gold prices remained below the $4,000-an-ounce mark on Friday, with the precious metal struggling to attract meaningful safe-haven demand despite persistent uncertainty in the US housing sector. Although construction activity rebounded sharply in June after a weak performance in May, the broader housing market continued to show signs of weakness that could weigh on economic

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Economy

Bloom Energy stock has suffered a $40 billion wipeout: what next?

Bloom Energy stock is moving from bad to worse as it crashed to $206, its lowest level since April last year. BE has slumped by over 40% from its all-time high as concerns about its valuation and the data center industry remained. This retreat has seen its market capitalization fall from $98.7 billion to $58

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Economy

Stellar price outlook: Golden cross signals hope as XLM eyes $0.20 breakout

Stellar (XLM) is trying to stabilize after a volatile week that saw the token come under pressure alongside the broader cryptocurrency market. XLM was trading at $0.1834, down 3% over the past 24 hours, while extending its weekly decline to 4.3%. Despite the recent weakness, traders are watching a developing golden cross and an upcoming

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Economy

The world’s most valuable IPO, SPCX, is now Wall Street’s most shorted new stock

SpaceX has become one of Wall Street’s biggest targets for short sellers just weeks after completing the largest initial public offering in history, as investors increasingly bet that the Elon Musk-led company’s blockbuster valuation could come under pressure. The stock briefly slipped below its $135 IPO price on Wednesday before recovering to close at $135.27,

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Economy

Salesforce stock has slumped amid SaaSpocalypse concerns: what next?

Salesforce stock has plunged by more than 50% from its December 2024 peak as concerns about its growth outlook have intensified. Its market capitalization has fallen from more than $347 billion to about $136 billion, and the selloff could continue as investors remain concerned about the company’s strategy and long-term growth prospects. Salesforce stock has

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Economy

BNB price outlook: Binance Coin targets $647 as bullish pattern takes shape

Binance Coin (BNB) is back in focus after a series of developments strengthened interest in the Binance ecosystem while technical indicators pointed to a possible trend reversal. At the time of writing, BNB was trading at $577.34, leaving it within striking distance of the next major technical hurdle. Bullish chart pattern puts $647 in focus

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Economy

$10,000 in each of QQQ, TQQQ, and SQQQ 5 years ago: Here’s the result

The technology sector has done well in the past decade, with the Nasdaq 100 Index beating its top peers like the S&P 500 and the Dow Jones. This article explores the outcome if one had invested $10,000 in the Invesco QQQ ETF (QQQ), ProShares UltraPro QQQ (TQQQ), and ProShares UltraPro Short QQQ (SQQQ) five years

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Economy

SanDisk stock is stuck in a bear market: buy the dip or sell the rip?

SanDisk stock has continued its weakness this week, falling to its lowest level since May 22. It has dropped by 35% from its highest level this year. Still, top analysts tracking the company have maintained a bullish outlook, pointing to its strong growth. Many analysts are bullish on the SanDisk stock Top analysts covering SanDisk

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Economy

Micron stock plunges: Has it topped, or is this a rare buying opportunity?

Micron stock has plunged since reaching a record high of $1,255 on June 25. Shares have fallen about 30%, mirroring the sharp declines seen across the memory chip sector, including industry leaders Samsung and SK Hynix. So, has Micron reached its peak, or is this pullback a golden buying opportunity? Micron stock is falling despite

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