Stock market today: Nasdaq, S&P 500 and Dow fall as tech stocks slip, oil climbs to $110
Despite concerns that surfaced this week over neocloud provider CoreWeave’s debt levels, the AI business remains “resilient,” say Bank of America analysts led by Vivek Arya. They cite a key metric to prove this thesis: utilization.…
Chip Stocks Continue Downtrend, ‘Crash Prices’
Chip stocks continued their weeklong decline on Friday, posting their longest losing streak in eight years. In the stock market today, the Philadelphia Semiconductor Index, known as SOX, fell about 2%. It is on pace to record its eighth consecutive day…
US Crude Oil Surges Above $100 as Iran Steps Up Attacks in Hormuz
Crude oil prices rose sharply on Friday as Iran stepped up attacks in the Strait of Hormuz, Houthi militants fired missiles at Saudi Arabia and Ukraine vowed to continue hitting Russian refineries. Brent Futures reached a high of $110 a barrel for the…
Oil climbs to $110 a barrel for the first time since May
A key index of oil prices rose to its highest level in five months on Friday, as investors assessed the impact of Iran’s wars with Ukraine and Russia on global energy supplies. Brent crude oil, widely considered one of the world’s most…
Porsche Launched a Car on Tesla Theft Day and the Memes Are Incredible
Choosing when to launch a shiny new product is half the battle. You need to make sure the timing is right, and the last thing you want is to get overshadowed by a competitor. SEE ALSO: Tesla unveils new Roadster and yes, it can actually fly Enter…
Palantir’s record breakout collapses as software stocks lose $260 billion
Palantir (PLTR) was breaking records at the start of the week. Now its breakout has reversed, with the stock heading into a correction zone. Shares are falling about 7% on Friday, wiping out about $34 billion in market value. The final figure to watch is…
State regulators approve nearly $140 million rate hike for Consumers Energy natural gas customers
The distribution: State regulators approved an annual natural gas rate increase of $139.2 million for Consumers Energy, down from the utility’s initial request of $240 million. Starting November 1, Consumers Energy customers will see a 4.3% rate…
Warsh announces stable outlook for Fed despite rising inflation
What they say: “In the month since, the world has broadly complied with our expectations,” Warsh said at the IMF and World Bank annual meetings in Bangkok, referring to the Fed’s September meeting. Warsh, interviewed by IMF Managing Director…
Netflix Chief Content Officer Bela Bajaria Leaves Post After Major Layoffs
Netflix replaced one of its top executives in a major management shakeup on Thursday, a day after the company announced it was laying off 6% of its staff. Bela Bajaria, chief content officer, is leaving the company after a decade, Netflix announced in a…
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