A wobble in U.S. technology shares has raised the stakes for Nvidia’s quarterly results on Wednesday, with earnings from the semiconductor giant posing a crucial test for the scorching AI trade.
Investors zero in on Nvidia results
US labor, advocacy groups urge states to reject Tesla’s $29 billion Musk pay
A coalition of U.S. labor unions and progressive advocacy groups urged state financial officers overseeing public pension funds to oppose fresh pay awards for Tesla CEO Elon Musk, warning the excessive cost poses risks to workers’ retirement savings.
US weekly jobless claims rise to highest since June
The number of Americans filing new applications for jobless benefits rose by the most in about three months last week in an initial signal that layoffs may be picking up and adding to signs the labor market is weakening.
Oil rises on stalled Russia-Ukraine peace talks
Oil prices rose by nearly a dollar a barrel as Russia and Ukraine blamed each other for a stalled peace process, and as earlier U.S. data showed signs of strong demand in the top oil consuming nation.
China weighs yuan-backed stablecoins
China, one of the most restrictive global jurisdictions for cryptocurrencies, is reportedly considering allowing Chinese yuan-backed stablecoins in what would be a major policy reversal. Chinese authorities may authorize yuan-backed stablecoins for the first time to promote global use of its currency.
Gold firms as dollar weakens
Gold rose as the U.S. dollar eased, with market participants bracing for the upcoming Jackson Hole symposium, while minutes revealed that Federal Reserve dissenters appeared alone in favoring a rate cut at the July meeting.