According to BofA Securities, the recent pullback in high-flying artificial intelligence stocks is a normal market rotation driven by crowded positioning and macroeconomic shifts, rather than the start of a broader collapse.
The U.S. House of Representatives is scheduled to vote next week on the Sunshine Protection Act, a bill that would eliminate the twice-yearly clock change and establish permanent Daylight Saving Time, reviving a measure the Senate passed in 2022.
The energy services firm postponed its closely watched report on active oil and gas drilling rigs, a key indicator of future production, without providing a new release time.
Gold prices are on track for a weekly decline as a spike in oil prices, driven by escalating U.S.-Iran tensions, has amplified investor concerns over persistent inflation and a potentially more hawkish Federal Reserve.
U.S. Central Command stated its forces are 'positioned and prepared' to ensure freedom of navigation in the Strait of Hormuz, a day after Iran claimed to have closed the vital oil waterway following a military clash.
Beijing has imposed a temporary ban on helium exports, a critical gas for semiconductor manufacturing, as it seeks to insulate its domestic market from potential global shortages caused by renewed conflict in the Middle East.
President Donald Trump announced the end of a ceasefire with Iran but said talks would continue, following a week of military exchanges that have roiled energy markets and pushed crude oil prices to their largest weekly gain in eight weeks.
The U.S. dollar gained against major currencies as escalating geopolitical risks in the Middle East, including attacks on oil tankers, overshadowed monetary policy as the primary market driver.
The Canadian dollar gained against its U.S. counterpart, supported by a sharp rise in crude oil prices amid escalating U.S.-Iran tensions and growing market expectations for a Bank of Canada interest rate increase.
