Affirm’s stock fell more than 11.5% on Wednesday to its lowest level since October 1, leaving it down 25% from its high for the year. The selloff extended after strong US inflation data pushed bond yields higher. Affirm stock drops after US inflation report Top companies in the buy now, pay later (BNPL) industry slipped
Microsoft (MSFT) shares climbed on Tuesday, putting the stock on track for a record closing high as the technology company expanded its artificial intelligence infrastructure and regained a market capitalisation above $4 trillion. The stock rose 1.84% to $551.15 during Tuesday’s session. The stock was trading at $548 at the time of writing. If the
Micron Technology MU and SK Hynix shares traded lower on Monday as investors assessed the competitive implications of progress by China’s ChangXin Memory Technologies (CXMT) in developing a new memory-chip design that can store more data. Broader weakness in technology shares added to the selling pressure as oil prices climbed to their highest levels in
Crude oil price held steady on Friday, with Brent ending the week at $104.5 and the West Texas Intermediate (WTI) hitting $93. Brent has jumped by nearly 10% from its lowest level this month, and this recovery may continue as the Middle East erupts. Houthi and Saudi Arabia crisis escalates Crude oil prices reacted mildly
AI investment is adding another layer of pressure to US borrowing costs, as technology companies raise more debt to finance infrastructure, and expectations of future productivity gains influence long-term interest rates. ING, in its October 1 report, estimates that artificial intelligence accounts for about 20% of the forces influencing long-dated rates, with productivity expectations representing
SpaceX chief Elon Musk’s years-long effort to bring its satellite internet service Starlink to India took a dramatic turn this week. Musk, whose company competes with Ambani’s Reliance Jio and Eutelsat’s OneWeb in India’s satellite communications market, on Thursday took to X, the social media platform he owns, to challenge the delay in Starlink’s commercial
Adobe and Microsoft were hit by the same US immigration crackdown on Thursday, but Wall Street treated their shares very differently. Adobe stock (NASDAQ: ADBE) jumped 3.56% to $241.05 on October 8, while Microsoft fell 1.35% to $522.61. Both companies were suspended from the Labor Department’s PERM programme, used for employment-based green cards. Yet the
US stocks ended mixed on Thursday, with the Nasdaq Composite posting its steepest decline among the major indexes as artificial intelligence stocks came under pressure and rising oil prices added to inflation concerns. The Nasdaq fell 1.24% to 27,197.10 points, while the S&P 500 lost 0.46% to 7,765.70. The Dow Jones Industrial Average gained 0.09%
US stocks closed lower on Wednesday as a renewed rise in long-term Treasury yields weighed on equities, with investors also assessing the prospect of another Federal Reserve rate increase before the end of the year. The Dow Jones Industrial Average fell 341.41 points, or 0.66%, to 51,179.87. The S&P 500 declined 0.22% to 7,801.77, while
Bending Spoons stock has staged a strong comeback in the past three days, moving from this month’s low of $31.5 to the current $41. This rebound happened as investors bought the dip and after the company secured funding for its Miro acquisition. This article looks at whether BSP is a good stock to buy. Bending