It seems like there is no stopping gold’s current rally.  Gold prices on COMEX breached the $4,200-per-ounce mark on Wednesday for the first time on rising expectations of further interest rate cuts by the US Federal Reserve.  Analysts have repeatedly pointed out the overbought conditions in gold. However, the bulls have shrugged off any such

Following US sanctions on an import terminal in eastern China, trading firms have redirected at least five crude oil tankers from a major port in the region, according to a Reuters report. US sanctions have forced refiners to alter plans for unloading cargo at Lanshan port in Shandong province, leading to diversions. This has caused,

A UK court has dismissed a $440 million lawsuit against Japan’s SoftBank group filed by Credit Suisse over losses from the collapse of Greensill Capital. Judge Robert Miles of London’s High Court found that SoftBank’s activities in transactions dealing with Katerra, a US construction firm backed by the Japanese conglomerate, were in good faith. The

London-based Nscale, backed by Nvidia, has struck a deal worth up to $14 billion with Microsoft to deploy roughly 200,000 Nvidia GB300 chips, marking one of the largest GPU infrastructure agreements in the global AI race. The partnership cements Nscale’s position as one of Europe’s fastest-growing data centre providers and strengthens its plans to go

Dow futures edged higher on Wednesday as investors look optimistic over a potential Federal Reserve rate cut and strong performance in chip stocks. The futures tied to Dow Jones Industrial Average gained 0.4%, while S&P 500 and Nasdaq 100 futures advanced 0.6% and 0.8%. The stabilisation on Wall Street comes after a shaky session on

Morgan Stanley reported its Q3 earnings on Wednesday and posted a solid quarter, surpassing Wall Street estimates with earnings per share of $2.80 and revenue of $18.22 billion. During the third quarter, Morgan Stanley gained from increased trading activity and a revival in investment banking, including mergers and IPOs. Moreover, as the Wall Street indices

Bank of America reported a robust third quarter, surpassing Wall Street’s expectations as its investment banking and trading divisions delivered stronger-than-expected results. The lender, which is the second largest in the US by assets, posted a 23% year-on-year profit rise to $8.5 billion, driven by a surge in deal-making activity and loan growth. Revenue climbed

Nvidia Corp. gained fresh support from Wall Street on Wednesday after HSBC upgraded the semiconductor giant’s stock to buy from hold, citing sustained growth in artificial intelligence (AI) demand and an expanding total addressable market for graphics processing units (GPUs). The brokerage also lifted its price target on Nvidia shares to a Street-high of $320,

Amid heightened volatility on Wall Street due to the escalation of trade tensions between the United States and China, Treasury Secretary Scott Bessent made some significant remarks on Wednesday. While speaking to CNBC, Bessent said the US will not change its negotiating stance on China despite recent stock market declines linked to escalating trade tensions.

US stocks advanced on Wednesday, buoyed by stronger-than-expected corporate earnings that outweighed renewed concerns over trade tensions with China. The Dow Jones Industrial Average climbed 161 points, or 0.3%. The S&P 500 gained 0.7%, while the Nasdaq Composite advanced 1%. Bank of America shares jumped 4% after reporting third-quarter earnings and revenue that exceeded analyst