Market News

Trump Says Anthropic No Longer Poses National Security Threat

President Trump indicated to Axios that he no longer views AI company Anthropic as a national security concern, following the firm's decision to restrict access to its advanced models to foreign nationals. The move reflects shifting regulatory positioning around domestic artificial intelligence development.

Meloni Rejects Trump's Photo Claim as Italy Cancels Diplomat Visit

Italian Foreign Minister Antonio Tajani canceled a planned U.S. trip after President Trump claimed Italian Prime Minister Meloni had requested a photograph with him, with Tajani characterizing the allegations as offensive to both Meloni and Italy. The diplomatic friction signals escalating tensions between the Trump administration and a key European NATO ally.

US Homeowners Tap $47B in Equity as Home Values Support Borrowing

US homeowners withdrew approximately $47 billion in home equity during the first quarter, drawing on the $11 trillion in collective equity available as home values remain elevated. Financial experts caution that accessing home equity carries risks and should not be treated as disposable income.

Indian IT Stocks Plunge on Accenture Guidance Cut

Major Indian IT company shares declined up to 7% following Accenture's decision to cut its revenue guidance, signaling weakening demand in the global IT services sector. The selloff reflects broader concerns about growth trajectories across the Indian IT industry amid softer client spending.

Oil Drifts Lower as Strait of Hormuz Reopens, Focus Shifts to Demand

Oil prices moved lower as tanker traffic resumed through the Strait of Hormuz, easing immediate supply concerns that had supported prices. Traders are now refocusing on broader demand indicators and OPEC's market outlook rather than geopolitical supply disruptions.

Stocks Making Notable Moves in Midday Trading Session

Several major companies including SanDisk, Intel, Enphase Energy, Accenture, and Exxon Mobil experienced significant price movements during midday trading. The broad-based activity across technology, energy, and business services sectors reflected ongoing market dynamics in US equities.

Federal regulators back Trump plan to accelerate power to AI data centers

Federal regulators have endorsed a Trump administration initiative to expedite power supply connections for energy-intensive artificial intelligence data centers, according to reports. The move aims to address power constraints limiting AI infrastructure expansion, though state authorities and grid operators have expressed concerns about reduced regulatory oversight.

Stock Futures Rise on Fed Rate Signals; Kospi Breaks 9,000

Stock index futures climbed following indications from Federal Reserve officials regarding a potential rate hike in 2026, while South Korea's Kospi index surpassed the 9,000 level for the first time. The mixed sentiment came as the Dow Jones Industrial Average, despite reaching an intraday all-time high, closed down more than 500 points on Wednesday.

China poised to resume major oil buying in August, JPMorgan analysis suggests

China is expected to reemerge as a significant oil buyer in August following a period of reduced imports, according to JPMorgan's assessment. The world's largest oil importer's pullback in purchases has previously helped moderate global oil price increases since geopolitical tensions escalated.

Financial Stocks Show Strongest Near-Breakout Setup Among S&P 500

A screening of the S&P 500 identified financial sector stocks as having the deepest pool of companies trading near 52-week highs without recently making new highs, suggesting potential momentum candidates. This concentration in financials indicates the sector may be positioned for a sustained breakout if key technical levels are cleared.

Trump Suggests Blaming Vance If Iran Nuclear Deal Negotiations Fail

Former President Donald Trump indicated he favors attributing responsibility to Vice President JD Vance should negotiations with Iran over nuclear matters prove unsuccessful. The remarks reflect ongoing political positioning within the Republican administration regarding foreign policy accountability.

Central Banks Bring Gold Reserves Home Amid Geopolitical Risks

Central banks globally are increasing gold reserves and shifting storage of bullion to domestic locations as geopolitical tensions and currency uncertainties intensify. This strategic repositioning reflects growing concerns about financial stability and asset security in an unstable international environment.

Iranian tankers break U.S. blockade with 5M barrels of crude oil

At least three Iranian tankers carrying nearly five million barrels of crude oil have exited a U.S. Navy blockade for the first time in months, according to reports. The development signals a potential shift in regional maritime dynamics and may influence global crude oil supply dynamics and geopolitical tensions affecting energy markets.

Burry Tempted to Short SpaceX But Shuns Pricey Options

Renowned investor Michael Burry indicated he considered shorting SpaceX but declined to pursue the trade due to expensive options pricing. Burry's hesitation reflects concerns about the aerospace company's valuation relative to established enterprises.

General Motors partners with Lockheed Martin on defense production

General Motors announced a new defense partnership with Lockheed Martin as the United States increases its weapons production capacity. The collaboration signals automotive manufacturers' growing involvement in the defense sector amid elevated geopolitical tensions.

SpaceX Gains 11% in Premarket Trading on 2030 Revenue Forecast

SpaceX shares rallied 11% in premarket trading following CEO Elon Musk's statement that the company might reach approximately $1 trillion in revenue by 2030. The announcement has generated investor momentum around the aerospace and satellite communications company's growth trajectory.

Qualcomm CEO: AI agents will replace apps as firm develops 40 new devices

Qualcomm CEO Cristiano Amon stated that artificial intelligence agents will eventually replace traditional applications, while the chipmaker works on 40 new AI-powered devices. Amon expressed particular optimism about smart glasses as a future category comparable in scale to smartphones.

CrowdStrike rallies 80% since April; analyst sees more upside

CrowdStrike Holdings has surged more than 80% since April 10, and investor Joe Terranova believes the cybersecurity stock still offers buying opportunities despite the substantial gains. The positive outlook suggests continued investor confidence in the company's growth prospects.

Nvidia Plans $20B Debt Sale, First Since AI Boom Started

Nvidia is preparing its first debt offering since 2021, planning to raise approximately $20 billion as the chipmaker capitalizes on its expanded scale and market position. The capital raise marks a significant milestone for the AI-driven semiconductor leader, which has grown substantially since its last debt issuance.

Warren Questions Trump on Social Security Retirement Age Plans

Senator Elizabeth Warren has written to President Trump seeking clarity on the administration's intentions regarding Social Security reform, specifically inquiring about potential changes to the retirement age. The inquiry reflects ongoing political debate over potential modifications to the entitlement program.