US stocks moved lower on Friday as a stronger-than-expected May jobs report dampened expectations for interest rate cuts and triggered renewed selling across semiconductor stocks. The Dow Jones Industrial Average was up 20 points while the S&P 500 fell about 0.6%, and the Nasdaq Composite dropped 1.07%. The market reaction followed fresh labor market data
Lululemon Athletica LULU shares fell sharply on Friday after the athletic apparel retailer lowered its annual profit outlook and issued weaker-than-expected sales guidance, deepening investor concerns about the pace of its turnaround efforts. The stock dropped nearly 9% in early trading after the company projected flat to slightly lower revenue for the full year. The
The UK’s benchmark FTSE 100 index fell to its lowest level in more than two weeks on Thursday, weighed down by sharp declines in Asia-focused lenders and miners after reports of tighter offshore banking restrictions in China. Lower crude oil prices also dragged energy stocks lower, adding to the market’s weakness. By 1144 GMT, the
Artificial intelligence is rapidly reshaping the US labor market, with employers increasingly citing the technology as a reason for workforce reductions even as hiring continues in parts of the economy. US-based employers announced 97,006 job cuts in May, according to a report released Thursday by global outplacement and executive coaching firm Challenger, Gray & Christmas.
The number of Americans filing new applications for unemployment benefits increased last week, but the overall level of claims remained consistent with a labour market that continues to show resilience despite signs of slowing economic momentum. Data released by the Labor Department on Thursday showed initial jobless claims rose to 225,000 in the week ended
The price of Helium’s native token, HNT, experienced a sharp short-term rally before quickly retreating, as the market reacted to the acquisition of Helium Mobile by Noble Mobile. The token briefly climbed to an intraday high of $0.7874 before pulling back toward the mid-$0.65 range. Helium Mobile acquired by Noble Mobile Helium’s ecosystem received a
Top space stocks are in a freefall this week, with Virgin Galactic (NYSE: SPCE) falling to $4.25, its lowest level since May 28. It has slumped by over 53% from its highest point last week. Intuitive Machines (LUNR) stock has dropped by 30% from its highest point last week, while Rocket Lab (RKLB) has fallen
US stocks opened lower on Thursday as a sharp selloff in semiconductor shares following Broadcom’s quarterly results weighed on investor sentiment. Markets were also closely watching rising geopolitical tensions in the Middle East and the release of fresh US economic data. The S&P 500 fell about 0.28%, while the Nasdaq Composite dropped roughly 1%. The
Geoffrey Kendrick, Global Head of Digital Assets Research at Standard Chartered and one of the cryptocurrency industry’s most outspoken supporters, has reaffirmed his forecast that bitcoin will reach $100,000 by the end of next year despite a sharp market downturn that he described as a difficult period for digital assets. Kendrick’s comments came after a
Trafigura Group delivered a strong financial performance in the first half of its 2026 financial year, posting a net profit of $4.1 billion despite challenging global conditions marked by geopolitical tensions and supply chain disruptions. The Singapore-headquartered commodities trader announced its half-year results on 4 June 2026, showcasing broad-based contributions across its major divisions. Strong