Shares of data analytics company Palantir Technologies fell on Tuesday, pressured by a sector-wide downturn in artificial intelligence stocks, recent insider selling, and a general risk-off sentiment in the broader market.
Wolfe Research has begun coverage of major oilfield services companies, assigning Outperform ratings to SLB and Baker Hughes while rating Halliburton at Peer Perform. The firm anticipates a selective capital cycle that will favor companies with significant international exposure.
Apple has entered a multi-year agreement with Broadcom, valued at over $30 billion, to source radio-frequency chips made in the United States. The deal includes a major expansion of Broadcom's manufacturing facility in Colorado.
Prime Medicine's stock increased significantly after a binding arbitration ruled in its favor against Beam Therapeutics, confirming its development rights for an investigational treatment for Alpha-1 Antitrypsin Deficiency. Beam Therapeutics' shares fell following the announcement.
French AI startup Mistral AI has announced Robostral Navigate, a new model designed to enable robots to navigate complex environments using only a single camera and language commands, marking its expansion into physical AI.
The People's Bank of China expanded its gold holdings again in June, marking the 20th straight month of purchases. The country's total gold reserves rose to 75.44 million fine troy ounces.
Russia's central bank reported a decrease in the nation's gold reserves in June, while total official reserve assets also declined. Foreign currency reserves, however, remained relatively stable.
The South African rand weakened on Wednesday as escalating military tensions between the United States and Iran reduced investor risk appetite, pushing the currency to its lowest level in a week.
President Donald Trump said Monday that the United States would either reach a diplomatic agreement with Iran or resort to military action, a statement made following recently stalled talks. An Iranian official dismissed the threat as 'delusional' as tensions remain high.
