Super Micro Computer Inc. (SMCI) sought to reassure customers and partners after four employees at its Taiwan unit were questioned as part of an investigation into the alleged illegal export of advanced AI servers containing Nvidia chips. The AI server maker issued an open letter on Wednesday stating that it is not a target of
In 2024, Klarna made headlines when it announced its AI agent could handle the workload of 700 customer service representatives. The Swedish fintech company also said its OpenAI-powered assistant matched human agents on customer satisfaction scores. Cut to last year, when founder and Chief Executive Officer Sebastian Siemiatkowski revealed that Klarna was once again recruiting
The DAX Index has remained resilient in recent months and is gradually attempting to retest its all-time high of 25,510. It has climbed nearly 15% from its lowest level this year. This period of consolidation could pave the way for further gains, as the index has formed an inverted head-and-shoulders pattern—a bullish technical signal. This
Nike shares fell 4% in premarket trading on Wednesday after the sportswear giant’s latest quarterly results failed to convince investors that its turnaround under Chief Executive Officer Elliott Hill is gathering pace. Although Nike topped Wall Street expectations for both earnings and revenue, a cautious outlook for the coming quarters, persistent weakness in China and
July has a strong track record for US equities, and investors are entering the month with four familiar names back in focus. The S&P 500 has historically posted its best average monthly gain in July, while technology-heavy indexes have often benefited from early-month momentum before earnings season takes over. That does not make a rally
US equity futures began the new quarter with a more guarded tone, even after Wall Street ended June on a strong note. The problem is not just geopolitics, though the stalled US-Iran diplomacy in Doha is keeping traders alert. The bigger issue is that the macro backdrop is becoming less friendly. A resilient labour market,
The USD/ZAR pair was little changed on July 1 as traders reacted to hawkish remarks by South African Reserve Bank (SARB) Governor Lesetja Kganyago, who spoke at the European Central Bank (ECB) forum in Portugal. The pair was trading at 16.40, a few pips below last month’s high of 16.67. SARB may hike interest rates
Shutterstock (SSTK) shares plunged more than 30% in premarket trading on Wednesday after Getty Images abandoned its planned $3.7 billion merger with the company, ending a deal that was expected to create one of the world’s largest licensed visual content providers. Getty Images shares were also lower, falling more than 5% in premarket trading following
The S&P 500 Index had a difficult performance in June this year, slipping by about 1.1%. It ended the month at 7,500, up by 18% from its lowest level this year, and a few points below the all-time high of 7,613. This article provides an SPX Index forecast and that of its ETFs like VOO,
Private-sector hiring slowed more than expected in June as employers added fewer workers ahead of the closely watched monthly government jobs report, while healthcare-related industries continued to account for the bulk of new employment. According to payroll processor ADP, private employers added a seasonally adjusted 98,000 jobs in June, below economists’ expectations of 110,000 and