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Silver Plunges 10% as Fed's Hawkish Stance Rattles Metals Market
Spot silver plummeted 10.7% to $67.26 per ounce following the Federal Reserve's decision to maintain interest rates, extending losses from earlier in the week. The decline comes despite strong retail investment and projected supply shortages.
Bitmine Shares Drop as Ethereum Retreats, Treasury Holdings in Focus
Bitmine Immersion Technologies shares declined approximately 3% in Thursday trading, mirroring a drop in Ethereum's price. The company's substantial treasury, holding 4.6 million ETH, ties its stock performance closely to the cryptocurrency's movements.
Ondas Shares Dip Amid Share Registration, Defense Ventures Advance
Ondas Holdings shares fell nearly 4% after a registration for 3.36 million shares for resale by former Bird Aerosystems owners. The company concurrently announced a joint venture in Europe and highlighted its drone defense unit's role at the World Economic Forum.
Plug Power's Turnaround Bid Faces Investor Scrutiny Amid Asset Sales
Plug Power Inc. is navigating a critical phase, with its stock trading significantly below recent highs as the company implements asset sales and spending reductions to extend its financial runway. While Q4 results showed revenue growth and a positive gross margin shift, analyst sentiment remains mixed amid ongoing liquidity concerns.
Alibaba's Profit Plunge Overshadows AI Cloud Surge in Q4
Alibaba Group reported a sharp 66% drop in quarterly net income, missing estimates, as aggressive spending on discounts and delivery squeezed margins despite strong growth in its cloud and AI division.
Brent-WTI Spread Widens to 11-Year High Amid Gulf Supply Shocks
Brent crude prices jumped nearly 7% following Iranian missile strikes on Gulf energy infrastructure, while U.S. benchmark WTI saw muted gains. The divergence pushed the discount for WTI versus Brent to its widest level in over a decade.
Eli Lilly's Retatrutide Hits Phase 3 Goals, Stock Pressured by Pricing Concerns
Eli Lilly announced its experimental drug retatrutide achieved primary goals in a Phase 3 trial, significantly reducing blood sugar and weight. The stock declined 1.3% to $918.05 amid an HSBC downgrade and ongoing concerns over drug pricing in the U.S. market.
Gold Slides to One-Month Low Amid Dollar Strength, Fed's Hawkish Stance
Gold declined to its lowest level since early February, pressured by a robust U.S. dollar and the Federal Reserve's commitment to maintaining elevated interest rates. Spot gold fell 1.1% to $4,764.27 per ounce.
Silver Plunges on Hawkish Fed, Dollar Strength, and Oil Shock
Spot silver fell 4.3% to $72.14 per ounce Thursday, with U.S. futures dropping over 6%, pressured by expectations for prolonged high interest rates and a robust dollar.
Nvidia's Networking Unit Surges, Fueling $1 Trillion AI Ambition
Nvidia's networking division generated $11 billion last quarter, more than triple the prior year, as the company reported record total revenue of $68.1 billion. CEO Jensen Huang outlined a $1 trillion revenue target for its AI chips by 2027.