Gold traded at an eight-month low early on Friday as higher oil prices following renewed fighting be
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Three and a half years of rate hikes, inflation scares, and recession warnings failed to stop this rally, and Goldman Sachs just revealed exactly where it stands against nearly a century of bull market history.
Investing.com -- Goldman Sachs told clients in a note on Friday that strong central bank gold purchases in May are likely to provide a price floor for gold amid near-term pressure from hawkish Federal Reserve pricing.
Meta Platforms (NasdaqGS:META) has been hit with a federal lawsuit filed by employees over AI-assisted layoffs. The suit alleges that Meta's use of AI in personnel decisions discriminated against protected groups, including workers with disabilities and pregnant employees. Plaintiffs are seeking to halt further layoffs and are calling for an independent audit of Meta's AI systems used in workforce management. Meta Platforms, the parent company of Facebook, Instagram, WhatsApp and other...

<body><p>STORY: A brutal selloff in chipmakers spread through global markets on Friday.</p><p>It led to a rout across Asia and also saw European shares open lower.</p><p>It follows a shift in investor sentiment about an AI-driven rally as they reassessed its durability.</p><p>Investors fled risk across Asia, which sent MSCI's broadest index of Asia-Pacific shares outside Japan down 2.7%.</p><p>While the Nikkei tumbled more than 5%.</p><p>Taiwan's stock market plunged more than 6% for its worst day since U.S. President Donald Trump's "Liberation Day" tariffs.</p><p>Hong Kong's Hang Seng Index also slid 2.5%.</p><p>The selloff came even as Taiwan's TSMC announced second-quarter profit that blew past forecasts earlier in the week.</p><p>Another AI-exposed firm in ASML also raised its sales forecasts earlier this week.</p><p>Markets in South Korea were closed on Friday for a holiday.</p><p>It came a day after authorities announced they would temporarily ban new listings of exchange-traded funds (ETFs) tied to certain major tech firms.</p><p>They will also raise minimum required deposits for retail investors to invest in such products as they try to lower volatility.</p><p>Oil prices were also on the rise in commodities.</p><p>Brent crude futures crept up 0.1% at just over $84 a barrel.</p><p>Iran said it launched fresh attacks on U.S. facilities in the Gulf on Friday.</p><p>That comes after a sixth consecutive night of U.S. strikes on Iranian military facilities.</p><p>Brent and U.S. crude futures were due to rise more than 10% each for the week.</p></body>
The president directed federal authorities to reschedule medical marijuana.
One data point doesn't make for an investment thesis.
A federal judge has dismissed a lawsuit filed against the coffee shop giant, agreeing that its former CEO did not make “flagrantly false” statements about its sales results.
A federal jury in Waco, Texas said on Thursday that Japanese chipmaker Kioxia owes satellite-communications company Viasat $229 million for infringing a patent covering computer memory technology, according to a court document. The jury determined that Kioxia's flash-memory devices violate Viasat's patent rights in technology that allows such devices to consume less power and improves their reliability and longevity. Spokespeople for the companies did not immediately respond to requests for comment on the verdict.
Tuesday's inflation report was good news for one of the market's most rate-sensitive dividend payers.

Federal Reserve Bank of Dallas president Lorie Logan came out in favor of "modestly" higher interest rates to better balance inflation risks on Thursday. Interactive Brokers senior economist José Torres reacts to this opinion and what Fed Chairman Kevin Warsh's plans for the balance sheet could mean for inflation.
If artificial intelligence rewrites the future of work, Tesla and SpaceX CEO Elon Musk thinks it should rewrite the future of paychecks, too. "Universal HIGH INCOME via checks issued by the Federal government is the best way to deal with...
Investing.com -- U.S.-listed shares of gold mining companies dropped in morning hours trading on Thursday, gold prices retreated, pressured by a surge in oil prices that reignited inflation concerns and clouded the outlook for U.S. interest rates.
Bank of America Chair and CEO Brian Moynihan discusses the continued strength of the US consumer and breaks down the firm's second-quarter earnings. Moynihan also talks about lending and mortgages, inflation, and the role of data and AI within the company on "Bloomberg Surveillance."
Treasury yields rise as the number of people filing for jobless insurance in the U.S. falls to 208,000 from an upwardly revised 216,000. Economists surveyed by WSJ expected an increase to 218,000. The July Philadelphia Fed business activity gauge jumps to 41.
Investing.com -- U.S. stock index futures were mixed on Thursday as investors weighed lingering Middle East tensions, and focused on corporate earnings and further signs that U.S. inflationary pressures are easing.
GE Aerospace now expects 2026 operating profit in the range of $10.55 billion to $10.75 billion compared to the previous guidance of $9.85 billion to $10.25 billion.
Collections ease cash-flow pressure but trade risks remain
Wall Street analysts are reshuffling their bets on Thursday, sending some of the market's biggest names in opposite directions as geopolitical tensions and inflation crosscurrents cloud the outlook. Find out which stocks got upgraded, downgraded, or newly covered today.

<body><p>STORY: From SK Hynix shares yo-yoing to Apple suing OpenAI...</p><p>This is AI Weekly.</p><p>:: AI Weekly</p><p>SK Hynix shares went on a wild ride after its U.S. listing last week.</p><p>Shares plunged 15% in trading on Monday, marking the South Korean chip giant's biggest one-day fall on record.</p><p>But the firm's stock bounced back almost 13% later in the week.</p><p>It followed gains made in U.S. tech stocks after softer-than-expected U.S. inflation data and upbeat analyst forecasts for AI memory demand.</p><p>Meta plans to produce AI chips this September.</p><p>That's according to a memo seen by Reuters.</p><p>The move would help Meta gain more independence from chip suppliers like Nvidia.</p><p>Apple sued OpenAI and two former employees.</p><p>The U.S. tech giant alleged misappropriation of its trade secrets to benefit the ChatGPT-maker's move into consumer hardware.</p><p>It accused OpenAI of orchestrating an effort to acquire and exploit Apple's confidential information through former employees, recruiting practices and supplier relations.</p><p>OpenAI said in a statement they "have no interest in other companies’ trade secrets."</p><p>IBM shares plunged by a quarter in one day.</p><p>Investors sold off after the U.S. tech company signaled the AI infrastructure boom has drawn spending away from the software sector.</p><p>IBM said it expected revenue to rise just 1% in the second quarter, falling short of Wall Street hopes.</p><p>The announcement added to worries over a software industry already rocked by the rise of AI tools.</p><p>And TSMC raised it forecast for capital spending by up to 14% for this year.</p><p>It comes after the chipmaker and major Nvidia supplier posted a 77% jump in second-quarter profit of $22 billion.</p><p>That was well ahead of market forecasts and the firm's ninth straight quarter of double-digit percentage growth.</p><p>Looking ahead, capital expenditure for this year is forecast to now be between $60 billion and $64 billion.</p></body>
US stock futures traded close to flat on Thursday as investors weighed encouraging inflation data, another strong round of corporate earnings and ongoing geopolitical tensions in the Middle East. Market attention also turned to a busy schedule of economic releases and earnings reports that could shape sentiment for the remainder of the week.
The Federal Reserve may pivot to interest rate increases this year, a move that has often led to stock market corrections.
Investing.com - U.S. stock futures were largely steady on Thursday as softer inflation data continued to support hopes that the Federal Reserve can keep interest rates on hold.
Warsh's hardline stance on inflation is a wake-up call for the second-priciest stock market in history.
Today Earnings (a.m): UnitedHealth, GE Aerospace, U.S. Bancorp, Citizens Financial, Abbott Laboratories, State Street, Taiwan Semiconductor Manufacturing Earnings (p.m.): Netflix, Intuitive Surgical Economic data: Weekly jobless claims, Philadelphia Fed business-outlook survey, retail sales, pending home sales index, business inventories Fed speakers: Fed Vice Chair Philip Jefferson is expected to speak, as is Dallas Fed President Lorie Logan.
FTSE 100 down 35 points to 10,481 UK GDP three-month growth at 0.8% Rotork, Gooch & Housego, and Ramsden's agree to takeovers Experian and Ocado fall after updates 9.50am: City focused on Burnham and his potential Chancellor Market commentators are focused on UK politics...
Despite rising debt levels, Oracle’s large backlog, lower valuation compared to peers, and a sector-wide increase amid lower inflation have boosted investor sentiment.
Multiple securities class action lawsuits have been filed against First Solar (NasdaqGS:FSLR). The suits allege materially misleading statements about U.S. tariff policy and production utilization. Plaintiffs claim the company understated the impact of production relocation and facility underutilization on its outlook. First Solar is a major U.S. solar module producer, and the new wave of litigation puts its disclosures around tariff exposure and manufacturing utilization under closer...