The relentless US Dollar Index (DXY) sell-off experienced earlier this year has faded, and many hedge funds are betting in its comeback in the fourth quarter. The DXY Index was trading at $98.7 on Thursday morning, up from the year-to-date low of $96.24. Why the US Dollar Index has plunged this year The US Dollar […]
Read More
The Japanese yen continued its strong plunge this week as investors braced for a return of Abenomics. The USD/JPY exchange rate rose to 153, its highest point since February 13, and up by about 10% from its lowest level this year. Why the Japanese yen is crashing The USD/JPY pair surged this week as investors […]
Read More
US markets rebounded on Thursday, led by technology stocks, as investors reacted positively to strong corporate earnings and easing geopolitical concerns following news of an upcoming meeting between US President Donald Trump and Chinese President Xi Jinping. Meanwhile, Nvidia and Uber unveiled a major partnership in autonomous vehicle development, OpenAI announced a key acquisition aimed […]
Read More
US stocks advanced on Friday after softer inflation data bolstered optimism that the Federal Reserve will maintain its rate-cutting trajectory, reinforcing hopes of continued economic support and higher equity valuations. The Dow Jones Industrial Average rose 228 points, or 0.5%, while the S&P 500 gained 0.6% to hit a new record. The Nasdaq Composite climbed […]
Read More
Tesla Inc. shares surged over 5% on Monday after Morgan Stanley analyst Adam Jonas said the electric vehicle maker had effectively “solved” autonomous driving, sparking renewed investor optimism around the company’s self-driving and robotaxi ambitions. The comments followed CEO Elon Musk’s recent claims that Tesla could remove safety drivers from its robotaxis in Austin, Texas, […]
Read More
Tesla’s board has warned that CEO Elon Musk could step down if his proposed $1 trillion pay package fails to win shareholder approval at the upcoming annual meeting. The warning, according to Reuters, was issued in a letter from chair Robyn Denholm. It marks a turning point for the world’s most valuable electric carmaker, which […]
Read More
Elon Musk has officially unveiled Grokipedia, his artificial intelligence-powered platform that aims to rival Wikipedia with a focus on “truth-based” content. The platform, launched on Monday, integrates with Musk’s Grok AI and claims to provide an open-source alternative to the community-edited encyclopedia. According to Musk, Grokipedia’s mission is to deliver “the truth, the whole truth […]
Read More
Dow futures plunged over 450 points or 0.76% on Tuesday as traders weighed mixed earnings and questioned whether AI stocks can offset ongoing market concerns. While technology stocks, particularly in the AI sector, have driven gains recently, the Dow’s futures movement suggests profit-taking and some risk aversion ahead of a key earnings week. Overall, the […]
Read More
The cryptocurrency market took a nosedive on Tuesday, with Bitcoin plummeting 17% from its yearly high and major altcoins bleeding red across the board. Yet amid the carnage, an unlikely hero emerged, privacy coins. While Ethereum, Solana, and BNB suffered double-digit losses, Decred (DCR) skyrocketed 238% to $62, shattering a three-year record, while Dash (DASH) […]
Read More
Travel disruptions are looming as the FAA prepares to cut flights across major US airports amid the ongoing government shutdown. In the commodities market, Russian oil prices are sliding as India and China scale back purchases under new US sanctions. Meanwhile, GLP-1 weight-loss drugs are set for major price relief under a new federal plan, […]
Read More