POET Technologies stock price has gone parabolic this year, making it one of the top gainers as the artificial intelligence boom continues. It jumped to $20 on Thursday, up by 315% from its lowest point this year. POET jumped after a major $500 million partnership The stock soared on Thursday after the company inked a
Billionaire investor Bill Ackman revealed Friday that Pershing Square has built a new position in Microsoft. He argued that recent weakness in the software giant’s stock has created an attractive long-term investment opportunity despite growing concerns over artificial intelligence competition and heavy spending. Ackman disclosed the investment in a post on social media platform X,
US stocks fell sharply on Friday as rising Treasury yields, persistent inflation concerns, and escalating energy prices pressured markets following another record-setting session for major indexes. The Dow Jones Industrial Average dropped roughly 402 points, or about 0.8%, while the S&P 500 fell 1.13%. Nasdaq Composite led declines, sliding about 1.58% as investors pulled back
Ethereum (ETH) is attempting to recover above the $2,300 level on Friday after a week of declining network activity. At press time, Ether is trading at $2,238, down by 1% in the last 24 hours. However, the coin could reverse the decline and surge amid improved network activity. Ethereum’s active addresses continue to rise Active
US industrial production rebounded strongly in April, while retail sales continued to show resilience despite mounting inflationary pressures across the economy. According to data released on Friday by the Federal Reserve, industrial production in the United States increased 0.7% month-on-month in April. The reading followed a 0.3% contraction in March and exceeded market expectations for
Gold prices slid more than 3%, and silver plunged over 10% on Friday as sentiment in the precious metals market soured drastically. Oil prices, on the other hand, climbed more than 2% due to rising concerns about a prolonged supply disruption in the Strait of Hormuz. Meanwhile, copper’s retreat from its record-high close continued, driven
Shares of Nvidia (NVDA) fell sharply on Friday, pulling back after an explosive rally that had pushed the chipmaker close to another record valuation milestone. The stock dropped around 4% to $226.80 in early trading after gaining roughly 20% over the previous seven sessions. Thursday’s rally alone saw Nvidia rise 4.4% to close at $235.75,
The cryptocurrency market has reversed the positive start it had on Friday, with Bitcoin and other leading cryptocurrencies currently in the red. Bitcoin, the leading crypto by market cap, is now trading at $79,000, declining by 1.67% over the last 24 hours. Meanwhile, CC, the native coin of the Canton Network, is down 6.9% in
US unemployment claims rose moderately last week but were still within acceptable limits as businesses refrained from executing mass-level layoffs even as they grappled with mounting inflationary pressures. Initial claims for state unemployment benefits increased by 12,000 to a seasonally adjusted 211,000 in the week ended May 9, according to data released Thursday by the
US retail sales rose in April, signalling continued resilience in consumer spending even as inflationary pressures intensified across the economy. According to data released Thursday by the US Census Bureau, Retail Sales increased 0.5% month-on-month in April to $757.1 billion. The reading followed a revised 1.6% increase in March, which was previously reported as 1.7%.