July 23 (Reuters) – U.S. equity holdings have surpassed real estate as a share of net financial wealth for the first time since World War Two, Goldman Sachs said, underscoring how stocks have become a dominant driver of household wealth and consumer spending.”Equity gains have been the dominant driver of household wealth accumulation and the…
Blackstone reported second-quarter results on Thursday that beat market expectations, as the world’s largest alternative asset manager reaped gains from its artificial intelligence investments and pulled in record inflows that pushed total assets under management to nearly $1.35 trillion. Distributable earnings came in at $1.52 a share, a 26% increase from $1.21 a share in…
AMD is launching its next generation of AI data center hardware Thursday at an event in San Francisco, seeking to capture market share from Nvidia in the data center chip sector, according to Reuters. The company is formally introducing its Helios rack-scale system, which combines Instinct MI455X GPUs, EPYC “Venice” CPUs, Pensando networking chips, and…
July 23 (Reuters) – U.S. energy shares rose in premarket trading on Thursday as Brent crude briefly touched $100 a barrel, extending a five-day rally after attacks on two Saudi oil tankers intensified Middle East tensions and heightened concerns over global oil supply disruptions. Houthi forces in Yemen have widened the conflict by targeting vessels…
What happened: ServiceNow (NOW) gained 3% in early trading on Thursday. What’s behind the move: The Santa Clara, Calif.-based software company reported quarterly subscription revenue and bookings that topped analyst expectations, reinforcing investor optimism that its artificial intelligence offerings are helping drive growth. Subscription revenue climbed roughly 25% year over year to $3.88 billion last…
What happened: ServiceNow (NOW) gained 3% in early trading on Thursday. What’s behind the move: The Santa Clara, Calif.-based software company reported quarterly subscription revenue and bookings that topped analyst expectations, reinforcing investor optimism that its artificial intelligence offerings are helping drive growth. Subscription revenue climbed roughly 25% year over year to $3.88 billion last…
US stocks fell on Thursday as investors digested the latest spending outlooks from Alphabet (GOOG) and Tesla (TSLA), and eyed surging oil prices in the wake of expanded attacks in the Middle East. The Dow Jones Industrial Average (^DJI) and the S&P 500 (^GSPC) dropped by 1%. The tech-heavy Nasdaq Composite (^IXIC) declined by 1.7%,…
Tesla Inc. (NASDAQ: $TSLA) kept its Bitcoin treasury unchanged at 11,509 BTC in the second quarter, extending a holding pattern that has now lasted nearly four years. The electric vehicle maker recorded a $112 million after-tax loss on its digital asset holdings as Bitcoin fell about 14% during the quarter. The cryptocurrency declined from roughly…
The regional price of natural gas produced in the Permian, the top U.S. oil basin, was negative for most of the first half of the year. Rising associated gas output from oil-targeting wells has had nowhere to go. Producers had to either flare the gas, within allowed limits, or pay to get rid of what…
The Trump name has a way of entering the conversation whenever money is discussed. Three years ago, Polymarket was a company Americans weren’t legally allowed to touch. The Commodity Futures Trading Commission fined it $1.4 million, forced it to wind down its U.S. markets and left it operating as an offshore curiosity. To use it,…
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