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Oil Prices Steady Near $95 Amid Hormuz Disruption, Shifting Demand Forecasts
Oil futures showed minimal movement, with Brent crude holding near $95 per barrel, as constrained tanker traffic through the Strait of Hormuz provided a floor against diplomatic optimism. Major agencies revised their demand forecasts lower.
European Gas Prices Retreat Amid Lingering Supply Fears
European natural gas prices declined Wednesday, easing from recent highs driven by Middle East supply concerns. The EU warned prolonged Strait of Hormuz disruptions could trigger fresh price spikes.
Mortgage Rates Hold Near Recent Lows, Yet Spring Housing Demand Remains Subdued
Mortgage rates stabilized near recent lows, sparking a 5.1% weekly jump in refinance applications. However, purchase demand dipped 1% as builder confidence fell to a seven-month low amid economic uncertainty.
Ripple's Korean Bond Pilot Boosts XRP, Rakuten Delay Mutes Rally
XRP climbed toward $1.39 following Ripple's new partnership with South Korea's Kyobo Life Insurance for a blockchain bond settlement pilot. The advance was tempered by Rakuten Wallet's postponement of XRP and four other token listings.
Bitcoin Stabilizes Near $74K as Institutional Demand Returns
Bitcoin traded around $74,395 Wednesday, maintaining gains after briefly surpassing $76,000. U.S. spot bitcoin ETFs saw $411.4 million in inflows, reversing the previous day's outflow, while corporate purchases resumed.
Silver Holds Near $79 Amid Persistent Supply Deficit Concerns
Spot silver edged lower to $79.40 per ounce, consolidating after a recent rally. The market faces ongoing tightness with a projected 46.3-million-ounce deficit for 2026, continuing a multi-year trend of supply shortfalls.
S&P 500 Hits Record Amid Iran Talks, Bank Earnings; Dow Lags
The S&P 500 climbed to a new intraday record Wednesday, buoyed by optimism over potential U.S.-Iran talks and robust earnings from major banks. The Dow Jones Industrial Average, however, trailed the broader market, declining roughly 0.4%.
Gold Retreats from One-Month Peak as Dollar Strengthens, Rate Bets Dim
Gold prices pulled back from a one-month high on Wednesday, with spot bullion dropping 0.9% as a firmer U.S. dollar and reduced expectations for Federal Reserve rate cuts pressured the metal.
S&P 500 Reaches New High Amid Strong Earnings, Geopolitical Tensions
The S&P 500 climbed to a new intraday peak on Wednesday, its first since the U.S.-Iran conflict began, while the Nasdaq gained nearly 1%. The advance was fueled by strong bank earnings and hopes for diplomatic talks.
Supermicro Expands Edge AI Portfolio Amid Margin Pressure and Legal Scrutiny
Super Micro Computer unveiled new compact edge AI systems using AMD chips, aiming to diversify beyond data centers. The launch follows a quarter where revenue soared past $12.6 billion but gross margin fell to 6.3%.
Oklo Shares Surge on Board Expansion Ahead of Key Nuclear Milestones
Oklo shares gained 11% Wednesday after the company expanded its board and made executive shifts, positioning itself ahead of a crucial Department of Energy reactor test deadline in July and a major Meta-supported project in Ohio.
IREN's AI Ambitions Face Funding Test Amid Surging Cloud Demand
IREN shares held steady as its AI cloud revenue more than doubled, though total revenue declined. The company secured major GPU financing for its Microsoft partnership but faces potential dilution from a large share offering.