Wall Street opened lower on Tuesday as investors reacted to a hotter-than-expected inflation report and mounting concerns that the ongoing US-Iran conflict could continue driving oil prices higher and delaying potential Federal Reserve interest rate cuts. The S&P 500 fell 0.39%, while the Nasdaq Composite dropped 0.66%. The Dow Jones Industrial Average slipped 156 points.
Cisco stock price continued its bull run this week and is now trading at its all-time high. It has jumped in the last six consecutive weeks, bringing its market capitalization to nearly $400 billion. Still, despite the stock being highly overbought, Jay Woods, a popular Wall Street analyst, believes that CSCO stock may surge by
Plug Power resumed its strong surge in the extended hours today, May 12, as the company published strong financial results, confirming that it has now turned the corner. PLUG jumped by over 12% on Monday and continued the rally by over 6% to $3.73. It remains 108% above the lowest point this year. Plug Power
Affirm stock price has remained in a tight range in the past few weeks, and its recent earnings provided no boost. It was trading at $65.45 on Tuesday, inside the narrow range where it has remained at since April 17 this year. Still, the AFRM stock has formed a highly bullish pattern as Bank of
European aluminium producers are bracing for a sharp rise in costs as the European Union prepares to overhaul its Emissions Trading System (EU ETS). The reform, designed to give companies more time to decarbonise, includes changes to benchmark values that determine the free allocation of carbon allowances. According to Norman Liebke, FX and commodity analyst
Nelson Peltz’s activist investment firm Trian Fund Management is seeking investor backing for a potential bid to take fast-food chain Wendy’s private, according to a Financial Times report citing people familiar with the matter. Shares of Wendy’s (WEN) surged on Tuesday following the report, climbing as much as 14% to $7.75. The stock had closed
Nvidia stock continued climbing on Tuesday, extending its record-setting rally. Shares of the AI chipmaker rose over 2% to hit a new record high of $220.41 in early trading after closing 2% higher at a record $219.44 on Monday. However, the chipmaker gave up the gains and was trading in the red at the time
Mining industry veteran Pierre Lassonde said the global financial system is undergoing a structural shift that could push gold prices to $17,250 per ounce within the next three years as the US dollar gradually loses its role as the world’s primary reserve currency. In an interview with Kitco News, the co-founder of Franco-Nevada and former
Everything.inc, formerly known as SmarDex, a DeFi and AI-focused protocol, has completed its pre-market funding round and launched token trading on Kraken alongside several Tier 1 and Tier 2 exchanges. The listing marks the end of the pre-market phase and expands market access to a wider base of traders, users, and investors. “DeFi’s biggest problem
The see-saw in the oil market continued on Tuesday as prices jumped more than 3% amid uncertainty in peace negotiations between the US and Iran. Gold prices fell on Tuesday, pressured by rising oil prices, higher inflation concerns, and prospects of increased global interest rates following fading hopes for an Iran peace deal. Meanwhile, copper