Technology stocks came under heavy pressure on Thursday after Broadcom’s latest outlook failed to satisfy investors who had been betting on an even faster acceleration in artificial intelligence-related demand. Broadcom shares slumped 15%, putting the semiconductor giant on track to become the worst-performing stock in the S&P 500. The decline quickly spread across the broader
US private-sector hiring strengthened in May, offering fresh evidence that the labor market remains resilient despite rising inflation and uncertainty stemming from geopolitical tensions in the Middle East. According to data released Wednesday by payroll processor ADP, private employers added 122,000 jobs last month, exceeding economists’ expectations of 110,000 and marking the strongest pace of
India has announced an INR 100 billion ($1.05 billion) fuel stabilisation fund to protect its airlines from volatile jet fuel prices triggered by the ongoing Middle East conflict. The move comes as global analysts warn that recent signs of relief in the jet fuel market may prove short-lived, with the peak summer travel season still
Software stocks are staging a strong comeback after a bruising selloff earlier this year, as investors increasingly bet that artificial intelligence will become a growth catalyst for the industry rather than a disruptive threat. The turnaround has been swift. The iShares Expanded Tech-Software Sector ETF (IGV), a widely followed benchmark for software shares, has surged
Tesla’s Chinese-made electric vehicle sales increased 39.4% year-on-year in May, marking the sixth consecutive month of growth as the company maintained its position against rising competition from domestic automakers, according to data from the China Passenger Car Association (CPCA) released on Tuesday. Deliveries of Tesla’s Model 3 and Model Y vehicles from its Shanghai factory
Chiliz has emerged as one of the best-performing cryptocurrencies among the top 100 by market capitalization on June 2nd. The token is up 7% over the past 24 hours and has climbed above the $0.03500 level. The positive performance comes as Chiliz announces a key partnership. In addition, CHZ’s technical indicators have turned bullish, suggesting
The UK’s blue-chip index advanced on Tuesday, supported by gains in mining-related shares as base metal prices strengthened, while energy stocks came under pressure following a decline in crude oil. Broader sentiment was also influenced by geopolitical developments, including renewed expectations of progress in US–Iran talks. The FTSE 100 rose 0.4% to 10,377.4 points by
The season of the mega IPOs is gathering momentum. Just days before SpaceX is expected to begin trading publicly, Anthropic, the artificial intelligence company behind Claude, confidentially filed for an initial public offering, officially taking its place on the starting line of what could become the largest IPO cycle in modern market history. The company
India is set to launch a producer price index series this month, alongside a revised wholesale price index with a new base year, marking a significant change in the way the country tracks price movements at the producer level, a government official said on Tuesday. The development represents a structural shift in India’s statistical system
US stocks opened lower on Tuesday as investors assessed fresh record highs on Wall Street, monitored developments in US-Iran negotiations, and reacted to major announcements from technology companies tied to the artificial intelligence boom. The Dow Jones Industrial Average fell 45 points, or 0.1%. The S&P 500 slipped 0.13%, while the Nasdaq Composite declined 0.26%.