US annual wholesale inflation accelerated to its highest level in more than three years in May, though underlying price pressures remained relatively contained. Data released Thursday by the Bureau of Labor Statistics showed the Producer Price Index (PPI), which measures prices businesses receive for goods and services, rose 1.1% in May from the previous month.
The European Central Bank raised interest rates on Thursday, a move that had been widely anticipated by markets, as policymakers sought to prevent rising energy costs linked to the conflict in the Middle East from triggering broader inflationary pressures across the euro area. The decision comes as inflation in the 21-member eurozone climbed above 3%
US stocks opened higher on Thursday as investors returned to beaten-down technology shares following a sharp selloff, though gains were tempered by rising geopolitical tensions in the Middle East and higher oil prices. The Dow Jones Industrial Average added 246 points. The S&P 500 rose 0.29%, while the Nasdaq Composite gained 0.28%. The rebound came
Energy markets are showing signs of complacency in the face of a major supply shock caused by the ongoing closure of the Strait of Hormuz, according to ING Economics. Despite three months of restricted flows and little tangible progress in US-Iran negotiations, oil and gas prices have failed to fully price in the severity and
The US tech sector has had a torrid time of late. Ever since Broadcom issued some disappointing forward guidance, along with a solid, consensus-beating first-quarter result, tech stocks have been on the back foot. Then, just as investors were starting to ask if the US non-farm payroll release was still the most important monthly data
The regulatory framework for crypto assets in the United States is finally coming of age, with the GENIUS Act having established a regulatory framework for stablecoin operations. Meanwhile, the CLARITY Act, which aims to settle the debate over which digital assets fall under securities and which under commodities, is currently working its way through the
Nvidia is expanding its presence in healthcare artificial intelligence through a new partnership with medical technology startup Abridge, as competition intensifies among technology companies seeking to apply AI tools across the healthcare industry. According to a report by The Wall Street Journal, Nvidia and Abridge are developing an AI model specifically designed for clinical conversations
Oil prices have continued to rise on Thursday as geopolitical tensions simmered with the latest US strikes against Iran. Gold and silver extended their losses as higher energy prices and expectations of elevated interest rates for longer dampened sentiments in the precious metals market. Gold prices had rebounded slightly earlier in the day, but failed
Caterpillar stock price has pulled back in the past few days, moving from the year-to-date high of $947 on June 4 to the current $856. This retreat happened after it formed the risky double-top pattern on the daily chart. Valuation concerns remain amid the AI boom Caterpillar, a top industrial company known for making large
Hyperliquid (HYPE) is trading higher on Thursday, recovering above the $56 level after finding strong support around a key technical zone in the previous session. The rebound is being supported by improving derivatives positioning and a broadly constructive technical structure, suggesting potential for a short-term recovery. The technical indicators remain bearish but are no longer