Gold reached a record high of $3,194.20 per ounce Thursday, boosting miner stocks like Newmont (NEM) and Barrick Gold (GOLD). Investors sought safe haven assets amid tariff uncertainty and broader market declines. However, airline stocks plummeted due to concerns about long-term demand destruction from tariffs. Apple initially...
The European Union (EU) and the United Arab Emirates (UAE) have agreed to begin free trade negotiations. This follows a meeting between EU Commission President Ursula von der Leyen and UAE President Sheikh Mohamed bin Zayed Al Nahyan. The agreement aims to eliminate trade barriers like tariffs and...
President Trump downplayed a significant stock market drop, attributing it to short-term fluctuations and ongoing trade negotiations. Treasury Secretary Bessent echoed this sentiment, expressing confidence in reaching beneficial trade agreements within 90 days. The market plunge followed earlier surges driven by temporary tariff reductions, excluding China. Trump...
High-net-worth investors largely avoided panic selling during the recent market downturn, unlike during previous crises. Many wealth managers reported clients either holding steady or selectively buying, using the dip for tax-loss harvesting and estate planning. While some added to private equity and gold, the overall strategy was to...
Despite Trump administration predictions, Apple is unlikely to manufacture iPhones in the US due to high costs and complex supply chains. Shifting production could triple iPhone prices, impacting sales. Analysts estimate a move to US manufacturing is improbable before 2028. While Apple has pledged $500 billion in US investments,...
The threat of new auto tariffs has created a mixed reaction in the US car market. Some buyers are rushing to purchase vehicles before prices potentially increase, leading to a surge in sales. Dealerships are experiencing high demand and offering discounts. However, others are delaying purchases due to economic...
Microsoft celebrated its 50th anniversary with a star-studded event featuring Bill Gates, Steve Ballmer, and Satya Nadella. The event showcased new Copilot AI features, but was disrupted by two employee protests criticizing Microsoft's involvement in Israeli government contracts and alleging complicity in the Gaza conflict. Despite the interruptions,...
US stocks plummeted Thursday morning, reversing Wednesday's surge following President Trump's surprise tariff pause. The Dow fell 5%, Nasdaq over 4%, and S&P 500 over 3.5%. The White House clarified that total tariffs on China increased by 145% under Trump's administration. While Republicans lauded the move, Democrats accused...
The European Union has temporarily paused retaliatory tariffs against the US for 90 days, mirroring a similar move by President Trump. This pause allows for trade negotiations, but the EU stresses that countermeasures will resume if talks are unsatisfactory. While the pause offers relief, the unpredictable nature of...
OpenAI is countersuing Elon Musk for unfair competition and business interference, escalating their legal battle. Musk, an early OpenAI investor, is accused of making a sham $97.4 billion bid to acquire OpenAI, a figure OpenAI claims was arbitrarily chosen. OpenAI alleges Musk's actions caused them harm through harassment...
