Europe’s major stock markets ended higher on Friday, with the pan-European STOXX 600 and Germany’s DAX reaching fresh record highs as investors welcomed easing expectations for near-term US interest rate hikes and rotated into cyclical sectors. The STOXX 600 climbed 0.7% to close at a record high after touching an intraday peak of 652.35, registering
A Goldman Sachs economist expects artificial intelligence to displace more than 15 million US workers over the next decade, but argues that the resulting job losses are likely to be temporary as new occupations emerge and the economy adapts to technological change. In a recent research report titled “An AI Job Apocalypse?”, Goldman Sachs senior
Oil prices were little changed on Friday, with benchmark crude posting only modest gains as investors balanced optimism over ongoing US-Iran negotiations against rising Middle East oil supplies and persistent concerns about global demand. Brent crude futures rose 0.19%, to $71.94 a barrel, while US West Texas Intermediate (WTI) crude edged up 0.13% to $68.78.
Gold prices rose more than 1% on Friday, putting the precious metal on track for its first weekly gain in five weeks after weaker-than-expected US employment data reduced expectations of a near-term Federal Reserve interest rate hike. Spot gold climbed 1.28% to $4,175.37 per ounce after touching its highest level since June 23. US gold
Bitcoin climbed above $62,000 on Friday as large holders continued accumulating the cryptocurrency despite record outflows from US spot Bitcoin exchange-traded funds (ETFs), while investors also weighed weaker US economic data and the outlook for Federal Reserve policy. Bitcoin BTC rose to as high as $62,310, its strongest level since June 24, according to CoinMarketCap
Europe’s major stock markets ended higher on Friday, with the STOXX 600 and Germany’s DAX hitting record highs as investors rotated into cyclical sectors. Bitcoin climbed above $62,000 as large holders accumulated coins despite record ETF outflows. Tesla expanded its robotaxi service to Miami as competition in autonomous driving intensified. Poland’s prime minister warned that
Wall Street will enter the July 6-10 week with less room for error after a choppy start to the second half. The S&P 500 is still sitting near record territory, but the market is carrying a tricky mix of stretched valuations, a cooling labour market, fragile oil prices and fresh pressure in semiconductor stocks. The
US stock funds saw their biggest weekly exit since March, raising fresh questions about the strength of Wall Street’s rally. Investors pulled $17.2 billion from US stock funds in the week through July 1, according to Bloomberg, citing Bank of America strategists led by Michael Hartnett and EPFR Global data. The move does not signal
The chip that could make or break Wall Street’s confidence in artificial intelligence no longer lives inside a flashy graphics processor. Increasingly, it sits inside a memory module, and it is made by a company that started life in a Boise, Idaho, dental office basement in 1978. For most of its four-decade existence, Micron Technology
The artificial intelligence boom has a people problem, and it is getting worse faster than most investors have noticed. While Wall Street has spent the better part of three years fixating on chip stocks, hyperscaler spending, and the relentless march of AI valuations, a less glamorous drama has been unfolding in suburban town halls, county