The price of Bitcoin fell on Tuesday, dropping to around $63,300 as investors reacted to heightened geopolitical risk following U.S. military strikes against Iran and a concurrent downturn in technology stocks. The broader cryptocurrency market followed the downward trend.
Bank of America analysts suggest the S&P 500 has a "corrective" bias for the third quarter, citing a debate between bullish and bearish technical indicators. The bank's note highlights potential downside risks despite some signs of improving market breadth.
Apple will spend over $30 billion on U.S.-made components from Broadcom as part of a new multi-year agreement. The deal will also fund a $1.5 billion expansion of Broadcom's chip factory in Fort Collins, Colorado.
Amazon shares fell in pre-market trading following a $25 billion bond sale that received a cooler-than-expected investor response. The decline is also attributed to analyst warnings over AI spending and broader market anxiety fueled by geopolitical tensions.
Futures for Canada's main stock index declined Wednesday after comments from U.S. President Donald Trump and military actions by Iran renewed geopolitical tensions, causing a sharp rise in oil prices and a drop in gold.
Airbus has lowered its 20-year forecast for new passenger aircraft demand, attributing the 1% reduction to the impact of the Iran war and trade tensions on the aviation industry's post-pandemic recovery.
Citing increased volatility in Asia, HSBC has closed its overweight position in emerging market equities and upgraded Eurozone stocks to overweight for the second half of the year.
Shares of the energy giant climbed after the company signaled a substantial increase in second-quarter profits, a forecast bolstered by a surge in crude oil prices following new hostilities in the Strait of Hormuz.
Citi Research has raised its rating on automotive supplier Forvia to 'Buy' from 'Neutral,' anticipating that a reaffirmation of the company's full-year guidance will help the stock recover from its recent downturn.
