Tesla’s sales rout in some European markets extended to an eighth month in August amid mounting competition from both Chinese EV rivals and traditional automakers, as well as a backlash against CEO Elon Musk’s courting of far-right parties.
Cryptocurrency investment products attracted renewed inflows last week, offsetting the prior week’s $1.4 billion outflows. Crypto exchange-traded products logged $2.48 billion in inflows last week, data from CoinShares showed.
The dollar hit a 5-week low as investors looked ahead to a raft of U.S. labour market data this week that could affect expectations for the Federal Reserve’s monetary easing path.
Traders were also assessing Friday’s U.S. inflation figures.
Intel said it amended the CHIPS Act funding deal with the U.S. Department of Commerce to remove earlier project milestones and received about $5.7 billion in cash sooner than planned. The move will give Intel more flexibility over the fund
The dollar weakened against the euro and Swiss franc to end last week, on course for a 2% decline in August against a basket of currencies, as traders prepared for a U.S. interest rate cut by the Federal Reserve next month.
Gold prices rose around 1% and were poised for their best monthly performance since April, as U.S. inflation data reinforced expectations that the Federal Reserve could cut interest rates next month.
