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Telecom Stocks Rally as T-Mobile Boosts Outlook, AT&T Gains
AT&T shares advanced 3.5% to $28.37, leading a sector-wide rally after T-Mobile raised its long-term service revenue target. Investors are assessing competitive dynamics ahead of key inflation data.
HR Outsourcing Stocks Tumble on Sector Weakness, Mixed Jobs Data
Barrett Business Services shares fell sharply amid a broad selloff in HR outsourcing stocks, driven by peer earnings and labor market concerns ahead of key inflation data.
Tesla Slips on China WeChat Integration Amid Broader Market Jitters
Tesla shares declined 0.5% as Tencent Cloud announced a partnership to bring WeChat features to its vehicles in China. The move comes against a backdrop of weak Chinese auto sales and anticipation of U.S. inflation data.
Flex Shares Gain Amid AI Data Center Rally, Investor Day in Focus
Flex Ltd. shares advanced as AI and semiconductor stocks rallied. Investors await the company's May 13 Investor Day for updates on its data center power and cooling business growth.
Oil Prices Surge Toward $70 Amid Iran Tensions, Overshadowing Large U.S. Inventory Build
Brent crude futures rallied nearly 2% to $70.02 a barrel as geopolitical risks from U.S.-Iran tensions outweighed a significant 8.5 million barrel increase in U.S. crude stocks. Traders await key reports from the IEA and OPEC+ discussions.
Distillate Drawdown Fuels Heating Oil Rally Amid Crude Inventory Surge
Heating oil futures surged 2.6% as EIA data revealed a sharp 2.7 million barrel decline in distillate stocks, tightening diesel supplies despite a large crude inventory build.
Mortgage Demand Dips as Strong Jobs Data Lifts Yields, Pressuring Lender Stocks
U.S. mortgage applications declined slightly last week while lender shares fell after a robust employment report pushed Treasury yields higher, dampening near-term rate cut hopes.
AI Sector Diverges: Chipmakers Gain as Software Stocks Retreat
AI stocks moved in opposite directions Wednesday, with semiconductor names like Nvidia rising while software giants Microsoft and Alphabet declined. Investors rotated ahead of key inflation data and earnings.
Gold Retreats from Session Highs as Strong Jobs Data Tempers Rate Cut Expectations
Gold prices pared earlier gains Wednesday after a robust U.S. employment report reduced the likelihood of an imminent Federal Reserve interest rate cut. Silver posted a stronger rebound, climbing over 3%.
Apple Shares Gain on Analyst Optimism, Regulatory Developments
Apple's stock advanced nearly 2% Wednesday, approaching a $4.05 trillion valuation, following a Bernstein price target increase and UK regulatory progress. Investors await key inflation data.