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Today’s Market Recap: Global Markets Shaken by Oil Spikes and Geopolitics
Geopolitical shifts in the Strait of Hormuz have disrupted global shipping, forcing major powers to coordinate Red Sea security and impacting everything from gold prices to South Korean semiconductor supply chains.
TradingKey
22 minutes ago
UAE explores freezing Iranian assets, WSJ reports
March 5 (Reuters) - The United Arab Emirates is weighing freezing billions of dollars of Iranian assets held in the Gulf state, the Wall Street Journal reported on Thursday, citing people familiar with the discussions.Reuters could not immediately confirm the report.Reuters
38 minutes ago
Gap flags hit from tariffs, forecasts annual adjusted profit below estimates
March 5 (Reuters) - Gap GAP.N joined a growing list of companies in warning about pressure and uncertainty from U.S. import tariffs and forecast annual adjusted profit largely below Wall Street estimates on Thursday, sending its shares down 7% in extended trading.Reuters
38 minutes ago
Pentagon informed Anthropic it is a supply chain risk, official says
March 5 (Reuters) - The Pentagon slapped a formal supply-chain risk designation on artificial intelligence lab Anthropic on Thursday, limiting use of a technology that a source said was being used for military operations in Iran.Reuters
38 minutes ago
Trump's tariff refunds may total up to $182 billion, estimates find
WASHINGTON, March 5 (Reuters) - A federal judge on Wednesday ordered the U.S. government to begin paying refunds of President Donald Trump's emergency tariffs that the U.S. Supreme Court deemed illegal in late February. This could ultimately return $168 billion to $182 billion to importers, budg...Reuters
39 minutes ago
Costco Wholesale beats holiday-quarter results estimates on resilient demand
March 5 (Reuters) - Costco Wholesale COST.O beat estimates for holiday-quarter sales and profit on Thursday and said it would cut prices if it received any refunds from the U.S. Supreme Court's decision to strike down President Donald Trump's emergency tariffs.Reuters
39 minutes ago
Venezuela to ensure security of mining companies, exceed oil production goals, US Interior Secretary says
CARACAS, March 5 (Reuters) - U.S. Interior Secretary Doug Burgum said a new mining law in Venezuela will create opportunities for companies, licenses allowing them to operate are on the horizon and the interim government of Delcy Rodriguez has promised to ensure their security, sounding an optimistiReuters
39 minutes ago
Gulf states could review investments due to financial strains caused by Iran war, FT reports
March 5 (Reuters) - Gulf states could start to review their overseas investments and future commitments as they consider options to ease the pressure on their budgets following the U.S.-Israeli attacks on Iran, the Financial Times reported on Thursday.A Gulf official told the newspaper the conflictReuters
40 minutes ago
US Mulls Requiring Permits for Global Nvidia, AMD AI Chip Sales, Bloomberg Reports
Nvidia has long been the world’s AI kingmaker. Now, the Trump administration is considering taking a formal role in the industry that would include similarly sweeping powers, Bloomberg News reported.US officials have written draft regulations that would restrict AI chip shipments to anywhere in the
Tiger News
40 minutes ago
Oil settles up around 5% on supply concerns as Iran conflict widens
US-Israeli conflict with Iran disrupts oil supplies, shippingIraq cuts output by 1.5 million bpd due to storage, export issuesAttacks on oil tankers in Gulf, Chinese fuel export cuts push prices higherBy Georgina McCartney HOUSTON, March 5 (Reuters) - Oil prices rallied on Thursday on growing dis...Reuters
2 hours ago
Nvidia halts China-bound H200 output, shifts TSMC capacity to Vera Rubin, FT reports
March 5 (Reuters) - Nvidia NVDA.O has stopped production of its second-most advanced artificial intelligence chips, known as H200 chips, intended for the Chinese market, the Financial Times reported on Thursday.The U.S. chipmaker has reallocated manufacturing capacity at chip contract maker TSMC 233...Reuters
8 hours ago
BREAKINGVIEWS-Novo Nordisk's illness offers painful lessons
By Aimee Donnellan DUBLIN, March 3 (Reuters Breakingviews) - In June 2024, Novo Nordisk NOVOb.CO was the most valuable company in Europe, worth almost $660 billion. Its two weight loss drugs – Ozempic and Wegovy – had become cultural and medical phenomena. The company was even seismic enough to d...Reuters
11 hours ago
Middle East Conflict Remains Unclear, Safe-Haven Sentiment Reverses Gains, Three Major US Stock Index Futures Collectively Turn From Gains to Losses. Gold and Silver Slump at One Point
TradingKey - At 8:30 AM ET, U.S. initial jobless claims for the week ending February 28 were 213,000, compared to an expected 215,000. In pre-market trading, the three major U.S. stock index futures reversed earlier gains to trade lower. Dow Jones futures fell more than 0.5%, S&P 500 futures edged down nearly 0.3%, and Nasdaq 100 futures declined over 0.2%.
Tesla Third-Largest Individual Shareholder Leo KoGuan Adds $180 Million to Nvidia Against the Trend? And Vows to ‘Continue Building Positions in the Future’
TradingKey — Recently, the AI sector has experienced significant volatility driven by risk-off sentiment and concerns over an AI bubble. However, a prominent investor long active in the tech sector has chosen to increase positions against the market trend.TradingKey
12 hours ago
Risk Sentiment Stabilizes, Market Awaits New Data, Three Major US Stock Index Futures Diverge Pre-Market, Some Chinese Concept Stock Data Shine
TradingKey - Pre-market on March 5, Eastern Time, Dow Jones futures weakened slightly, down approximately 0.09%, while S&P 500 and Nasdaq 100 futures edged higher as sentiment in the technology sector remained relatively stable. Index futures saw limited volatility, though market risk appetite remains cautious.TradingKey
13 hours ago
Fed: Rate cut odds repriced with strong data – Deutsche Bank
Deutsche Bank strategists highlight that markets are pricing out early Federal Reserve easing following strong ISM Services and ADP private payrolls data. Analysts note that the probability of a June rate cut has fallen to 39% as skepticism grows that a new Fed Chair can start cutting rates straightFxstreet
16 hours ago
Morgan Stanley sees no more ECB easing in 2026 as Mideast crisis lifts inflation risks
March 5 (Reuters) - Morgan Stanley on Thursday became the latest Wall Street brokerage to forecast that the European Central Bank will keep interest rates steady through 2026, citing potential inflation risks due to the conflict in the Middle East.Reuters
16 hours ago
EXCLUSIVE-Euro zone banks face multiple threats from Iran war, ECB supervisor says
FRANKFURT, March 5 (Reuters) - Euro zone banks face only a limited direct impact from the war in Iran, but the larger danger lies in how a weakened economy might feed back into lenders’ balance sheets, a senior European Central Bank supervisor told Reuters.Reuters
16 hours ago
