Arm Holdings announced a new AI data center chip which it said will add billions of dollars of revenue and represent a significant shift in the company’s strategy. The new chip, will address data-crunching needed for a specific type of AI that is able to act on behalf of users with minimal oversight.
Wall Street indexes fell in volatile session as investors swayed between fears of rising oil prices and hopes for a resolution to the U.S.-Israeli war on Iran as U.S. President Trump claimed there were talks even as reports suggested that more American troops were headed to the Middle East.
Acute volatility in gold prices is set to persist in the short term as investors cut risk, with the Iran war boosting inflation fears, curbing bets on interest rate cuts, and weighing on the outlook for global growth, analysts said.
Global stocks rebounded from a four-month low after U.S. President Donald Trump announced he would order the military to postpone any strikes against Iranian power plants and energy infrastructure, easing fears over the repercussions of a deeper oil shock.
Bitcoin spot volumes on Binance have dropped to their lowest level since September 2023, indicating that the current intraday price rise may not be backed by strong demand. The rally above $71,700 appears to be driven mainly by news headlines and liquidations in the Bitcoin futures markets.
The British pound fell to end last week, as oil prices resumed their upward trend, but stayed on course for a weekly rise after the Bank of England raised expectations of rate hikes this year.
