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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.
Oracle Extends Rally on AI and Bloom Energy Expansion, Yet Challenges Persist
Oracle's stock climbed 5.3% to $171.68, extending gains after announcing fresh AI capabilities and expanding its power partnership with Bloom Energy. The company's aggressive cloud and AI investments are driving growth but face significant financial and operational headwinds.
Allbirds to Rebrand as NewBird AI After $50M Funding, Exiting Footwear
Allbirds will transform into NewBird AI, securing up to $50 million in funding to launch a GPU rental business after selling its shoe brand assets. Shares jumped over 300% on the news.
Broadcom Secures Meta AI Chip Extension, Marvell Gains on Bullish Outlook
Broadcom advanced nearly 4% after extending its custom chip partnership with Meta Platforms through 2029. Marvell Technology gained 1.5% following an analyst upgrade citing robust data-center networking growth.
Mortgage Activity Edges Higher as Rates Dip, Yet Housing Market Momentum Falters
Mortgage applications increased last week as interest rates declined to a one-month low, though demand for home purchase loans softened. Existing-home sales fell in March, highlighting ongoing market headwinds.
Morgan Stanley Q1 Results Surge on Trading, Wealth Management Strength
Morgan Stanley delivered record first-quarter revenue and profit, exceeding analyst forecasts. Strong performance in equities trading and wealth management fueled the results, with shares gaining in premarket trading.
D-Wave Quantum Shares Extend Rally on Nvidia AI Boost and CEO Advocacy
D-Wave Quantum shares advanced roughly 8% in premarket trading Wednesday, building on a 15.8% gain the prior session. The rally follows Nvidia's release of open-source quantum AI models and CEO Alan Baratz's efforts to position the company as a commercial leader.