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Gold edged up to $4,013.93 in Asian trade Tuesday, clawing back from a two-week low as investors brace for US CPI data and Fed Chair Kevin Warsh’s debut on Capitol Hill. The rebound follows a sharp selloff Monday triggered by a Middle East oil shock that fanned rate-hike fears.
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Gold edged higher in Asia on Tuesday, recovering from a two-week low as traders braced for a packed week of US data and Fed Chair Kevin Warsh’s first congressional testimony. Rising Middle East tensions and a firmer rate-hike outlook kept a lid on gains.
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An Australian government audit found tech vendors showered officials with gifts around a Salesforce CRM contract award, but Salesforce itself reported zero gifts. The stock still rose nearly 5%.
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Apple (AAPL) filed a federal lawsuit on July 10 accusing OpenAI of systematically stealing trade secrets to build rival consumer hardware. The complaint details a former engineer who accessed internal systems after leaving and messaged “LOL, I found I can access [network storage].”
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California and 11 other states sued Monday to block Paramount Skydance’s $111 billion acquisition of Warner Bros. Discovery, alleging the deal violates antitrust law. Oracle (ORCL) shares slid 6.5% in after-hours trading on the news.
Academy
A stock split is like cutting a pizza into more slices—the total stays the same. Watch out for reverse splits, which are often tied to delisting risk.
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Intel announced a $5.7 billion investment to expand its Irish manufacturing hub, but the stock dropped 6% in after-hours trading. The market’s skepticism comes despite White House efforts to rally Apple, Nvidia, and SpaceX behind the chipmaker.
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Micron Technology slumped 4.3% in extended trading, dragging the semiconductor sector lower as investors question whether the AI spending boom can justify current valuations. All eyes are on this week’s bank earnings and CPI data for the next market catalyst.
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Iran launched missiles at US bases in Jordan and Bahrain over the weekend and claimed to have closed the Strait of Hormuz. Yet defense stocks like Boeing fell 3% after hours, as depleted munitions stockpiles and a lack of congressional funding overshadow the geopolitical flashpoint.
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Broadcom (AVGO) dropped nearly 4% in after-hours trading Monday, as a broader selloff in chip stocks reignited debate over whether the AI trade has gotten ahead of itself.
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Super Micro Computer (SMCI) slides 3% as the S&P 500’s CAPE Ratio hits 42.84, within 3.5% of the all-time peak set during the dot-com bubble, reigniting valuation fears.
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Big bank earnings kick off Tuesday, with investment banking fees from the SpaceX IPO expected to fuel a blockbuster quarter. Meanwhile, tech stocks are under pressure as the AI-bubble debate reignites.