Market news
Developments moving gold, forex, commodities, indices and crypto. Every story is compiled from several sources and read and approved by our editor; the sources are listed under each story.
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AI Concerns Hit Nasdaq as Tech Stocks See Increased Selling
The Nasdaq-100 index entered its third correction this year amid growing concerns over artificial intelligence technologies, leading to significant selling pressure on tech and particularly chip stocks.
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US-Iran Diplomatic Hopes Drive Oil Prices Lower
Reports indicating a potential preliminary agreement between the United States and Iran to reduce tensions have led to a notable decline in global oil prices.
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Anthropic Reports Soaring Revenue and Billions in Losses Ahead of IPO
AI company Anthropic has updated its IPO filing, revealing a significant surge in third-quarter revenue but also substantial net losses amounting to billions of dollars, primarily driven by high computing infrastructure costs.
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Marvell to Acquire Lumentum in $115 Billion All-Stock Deal for AI Connectivity
U.S. chipmaker Marvell Technology has reached a definitive agreement to acquire optical networking technologies company Lumentum in an all-stock transaction valued at approximately $115 billion in enterprise value.
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US Natural Gas Prices Climb on Supply Drop and Cooler Weather Forecasts
US natural gas futures rose following three consecutive weeks of declines, driven by a weekend production decrease and slightly cooler weather outlooks.
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US Manufacturing Activity Gains Momentum in October, Exceeds Expectations
US manufacturing activity picked up in October, with the Institute for Supply Management's (ISM) index surpassing market expectations and production showing a significant increase.
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Turkey's October Inflation Accelerates, Revaluation Rate Determined
According to data released by the Turkish Statistical Institute (TÜİK), inflation in October exceeded expectations and accelerated. Concurrently, the revaluation rate, effective from 2027, has been set at 27.83%.
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Oil Prices Fluctuate as US-Iran Tensions Escalate
Oil prices saw fluctuations as reports of potential US military preparations against Iran after the midterm elections emerged, coupled with counter-messages from Tehran, escalating regional tensions.
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US Job Openings Surge in September, Bolstering Rate Hike Outlook
US job openings significantly exceeded expectations in September, reaching 7.52 million and signaling a robust labor market. This strong employment data is seen as potentially giving the Federal Reserve more flexibility to raise interest rates.
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US Midterm Elections and Geopolitical Tensions Lead to Mixed Market Sentiment
Global equity markets experienced a mixed day as investors weighed the ongoing US midterm elections and diplomatic efforts aimed at easing geopolitical tensions in the Middle East. Oil prices continued their downward trend.
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US-Iran Tensions Escalate Amid Nuclear Threats and Oil Market Volatility
Tensions between the United States and Iran have intensified following nuclear threat rhetoric and conflicting reports regarding diplomatic negotiations, leading to significant fluctuations in global energy markets.
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Binance Reveals Details of Multi-Stage $6.3 Billion Cyberattack
Crypto exchange Binance has disclosed details of a sophisticated, multi-stage cyberattack on October 29, which resulted in over $6.3 billion in assets being stolen. The attackers reportedly used fake job interviews and compromised AI tools to infiltrate the system.
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US Stocks Face Critical Week as Strong Earnings Meet Rate Hike Concerns
US markets are bracing for a pivotal week, focusing on corporate earnings reports following recent tech stock sell-offs, as robust profit expectations clash with persistent worries over rising borrowing costs.
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Black Sea War Significantly Raises Trade Costs
The Russia-Ukraine conflict's escalating attacks on commercial vessels in the Black Sea have heightened security concerns, leading to substantial increases in freight and insurance expenses.
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China's US Treasury Holdings Drop to 18-Year Low
China's holdings of US government bonds fell to their lowest level in 18 years in August, reaching $590.7 billion, according to data from the US Treasury Department.