According to BofA Securities, the recent pullback in AI-related stocks is a healthy market rotation driven by valuation concerns and macroeconomic shifts, not the beginning of a major downturn. The bank advises investors to maintain AI exposure while diversifying into other sectors.
The U.S. House of Representatives is scheduled to vote next week on the Sunshine Protection Act, a bipartisan bill that would eliminate the twice-yearly clock change, though the measure faces renewed debate.
Silver prices are facing significant technical resistance around the $61.85 level, with multiple indicators suggesting the recent rebound is losing steam and sellers may soon regain control.
Russia has reportedly suspended shipping through the Don-Azov channel, a vital grain export route, following a Ukrainian attack on its vessels in the Sea of Azov. The move could disrupt nearly a quarter of the country's wheat exports.
Ukrainian President Volodymyr Zelenskiy has created a new military command dedicated to long-range strikes, formalizing a campaign that has already forced Russia to ban diesel exports and disrupted key shipping routes. The attacks have reportedly cut Russian gasoline output to 65% of capacity.
President Donald Trump said Sunday the critical Strait of Hormuz remains open to commercial shipping, an attempt to reassure markets amid an ongoing exchange of attacks between the U.S. and Iran that has roiled the energy sector.
The British pound remained steady near its highest levels since mid-June as a lack of major U.S. economic data kept the dollar in a tight range. Investors are now focused on the upcoming release of the Federal Reserve's meeting minutes for new policy signals.
The British pound lost ground against a broadly stronger U.S. dollar, pressured by surging oil prices amid geopolitical tensions and investor positioning for potentially hawkish Federal Reserve meeting minutes.
The U.S. dollar found support and oil prices climbed after U.S. military action in the Middle East, reinforcing expectations the Federal Reserve will maintain a hawkish stance. The British pound and euro saw modest gains but faced headwinds from the dollar's strength.
