AI Stocks Rebound, and Wall Street Nearly Returns to Where It Was Before Last Week’s Sell
- On Wednesday, Asian shares rose as optimism over artificial intelligence gains offset concerns from U.S. inflation data that exceeded the 0.3% forecast.
- U.S. consumer prices rose 0.4% in October, surpassing the 0.3% forecast as food and medical costs increased, fueling persistent economic pressure.
- Anthropic seeks a valuation of roughly $1.3 trillion in its upcoming IPO, while data center operator CoreWeave reported quarterly sales reaching $13.3 billion.
- Investors fear the Federal Reserve may hike interest rates in December, with Chicago Fed boss Austan Goolsbee calling the inflation report "another distressing report, borderline disturbing."
- Nvidia shares fell 5.5% as the chipmaker faces an FBI investigation into CEO Jensen Huang, who acknowledged an affair with a purported Chinese spy.
157 Articles
157 Articles
Watch Stocks Gain on AI Optimism Despite US Inflation Concerns
Bloomberg Daybreak Europe is your essential morning viewing to stay ahead. Live from Berlin, we set the agenda for your day, catching you up with overnight markets news from the US and Asia. And we'll tell you what matters for investors in Europe, giving you insight before trading begins. Global stocks climbed as investor enthusiasm for the artificial intelligence trade outweighed concern that hotter-than-expected US inflation will prompt the Federal Reserve to raise interest rates further. CoreWeave eased fears about its debt-laden business during a high-stakes quarterly report, indicating that sales growth remains strong despite challenges facing the data center industry. Plus, Anthropic’s bankers are weighing plans to increase the company’s valuation in its IPO to $1.5 trillion or more, the Financial Times reported. Today's guest: Christian Bruch, Siemens Energy, CEO.
Hot Inflation Data Hammers Yields And Sends Nvidia (NASDAQ: NVDA), Microsoft (NASDAQ: MSFT) Sliding As Anthropic Eyes IPO Valuation
A hotter-than-expected inflation report rattled financial markets Tuesday, pushing bond yields sharply higher and triggering a broad selloff across major equities. The Dow Jones Industrial Average shed 0.30% on the session, as rising yields weighed on investor sentiment and prompted a rotation away from growth-sensitive assets. Nvidia (NASDAQ: NVDA) bore some of the steepest losses […]
Wall Street's actions fell back on Tuesday, with Nvidia's notable fall, affected by the scandal, while the dollar appreciated after a positive report on inflation in the United States boosted the Federal Reserve's expectations of interest rate hikes.
Wall Street ends lower as inflation data heightens rate worries
NEW YORK — Stocks closed lower Tuesday as a hotter-than-expected inflation reading hardened expectations for a rate hike from the Federal Reserve next month and fueled concerns the central bank may be more aggressive in raising rates.
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