Browsing: Business

NEW YORK / RankWire.AI / – Wall Street closed lower on Monday as a sharp technology selloff and surging oil prices pulled major U.S. stock indexes down. The Nasdaq Composite dropped 1.55% to 25,873.18, ending a three-session winning streak. The S&P 500 fell 0.79% to 7,515.34. The Dow Jones Industrial Average lost 138.37 points, or 0.26%, to 52,498.64. Gains among energy companies limited the Dow’s decline, while semiconductor stocks led the broader retreat. Oil prices jumped after renewed U.S.-Iran hostilities restricted shipping through the Strait of Hormuz. West Texas Intermediate crude climbed 9.4% to settle at $78.14 a barrel. Brent…

NEW YORK / RankWire.AI / – Oil prices surged nearly 10% on Monday as renewed U.S.-Iran conflict focused attention on the Strait of Hormuz. Brent crude futures for September delivery gained $7.29, or 9.6%, to settle at $83.30 a barrel. U.S. West Texas Intermediate crude rose $6.73, or 9.4%, to finish at $78.14. The advance marked Brent’s largest one-day percentage gain since May 2020. It was also the benchmark’s highest settlement since June 12. The jump followed an escalation in military activity near the Gulf shipping corridor. Attacks on commercial vessels increased concern about oil shipments through the narrow waterway.…

NEW YORK / RankWire.AI / – Gold dropped about 3% on Monday, July 13, falling below $4,000 an ounce as oil prices surged and expectations for higher U.S. interest rates strengthened. Spot gold fell to $3,996.76 per ounce, its lowest level in two weeks. U.S. gold futures for August delivery settled 2.6% lower at $4,005.70. The decline marked gold’s steepest daily percentage loss in more than a month. Crude oil climbed about 5% after renewed strikes involving the United States and Iran raised concern about shipping through the Strait of Hormuz. President Donald Trump announced the reinstatement of a naval…

NEW YORK / RankWire.AI / – Oil prices climbed more than 4% on Monday, extending an earlier surge that carried Brent crude to $78.68 a barrel. Brent later rose $3.10, or 4.08%, to $79.11 by 3:25 a.m. GMT. U.S. West Texas Intermediate gained $2.95, or 4.11%, to $74.36. The rise followed renewed military strikes involving the United States and Iran. Vessel traffic through the Strait of Hormuz also remained limited. At 10:04 p.m. GMT on Sunday, Brent had advanced $2.67, or 3.51%, to $78.68. WTI had gained $2.48, or 3.47%, to $73.89. Both benchmarks moved higher again during Monday’s Asian…

NEW YORK / RankWire.AI / – Bitcoin traded near $64,061 on Friday, July 10, keeping attention on regulated crypto products, tokenized securities and corporate bitcoin treasuries. The market now has more links to traditional finance than it had before U.S. spot bitcoin exchange-traded products began trading in 2024. Those channels have made bitcoin easier to hold through brokerage accounts, listed funds, custody platforms and public-company balance sheets. The U.S. Securities and Exchange Commission approved the listing and trading of spot bitcoin exchange-traded product shares on Jan. 10, 2024. The decision opened a regulated exchange route for investors seeking bitcoin exposure…

NEW YORK / RankWire.AI / – Oil prices settled about 2% lower on Thursday as inflation concerns outweighed continuing supply disruptions in the Middle East. Brent crude futures fell $1.72, or 2.2%, to $76.30 a barrel. U.S. West Texas Intermediate crude dropped $1.44, or 2%, to $72.08. Both benchmarks closed below Wednesday’s peaks. Brent had reached its highest settlement since June 19, while WTI had posted its strongest close since June 22. Despite Thursday’s decline, both contracts remained higher for the week. Oil prices edged higher in early Asian trading on Friday after the sharp settlement drop. At 0319 GMT,…

WASHINGTON, D.C. / Content Syndication Services / – The International Finance Corporation priced a $2 billion five-year US dollar green benchmark bond, opening its fiscal-year dollar funding with a deal tied to private-sector development and job creation in developing countries. IFC, a member of the World Bank Group, carries Aaa and AAA issuer ratings from Moody’s and S&P. The transaction priced on July 7, 2026, and is due to settle on July 14, 2026. The bond drew an $8 billion order book from 120 investor orders. The final demand was four times the issue size. The five-year note carries a…

CUPERTINO, CALIFORNIA / RankWire.AI / – Apple announced a multiyear chip agreement with Broadcom valued at more than $30 billion. The deal covers custom silicon parts and wireless connectivity technology for Apple products. Apple said the agreement will produce more than 15 billion U.S.-made chips. It also supports work at Broadcom’s facility in Fort Collins, Colorado. The Apple Broadcom chip deal marks the largest commitment under Apple’s American Manufacturing Program. Apple launched the program to expand manufacturing in the United States. The company said the Broadcom agreement forms part of its broader plan to spend $600 billion in the U.S.…

NEW YORK / Content Syndication Services / – Oil prices settled higher Tuesday, with Brent crude futures rising 3.01% to $74.16 a barrel. U.S. West Texas Intermediate crude gained 2.76% to $70.44 a barrel. Brent added $2.17 for the session. WTI rose $1.89. Trading later extended gains after the United States revoked a license tied to Iranian crude sales. The advance kept energy markets focused on Gulf supply routes. Brent is the main global crude benchmark, while WTI anchors U.S. oil pricing. Both benchmark contracts rose during a session that also included official sanctions action and tanker reports. Brent closed…

NEW YORK / Content Syndication Services / – Wall Street closed higher Monday as chip and artificial intelligence stocks led gains in major U.S. indexes. The S&P 500 rose 0.72% to 7,537.43. The Nasdaq Composite advanced 1.12% to 26,121.16. The Dow Jones Industrial Average added 0.29% to 53,055.91, finishing at a record. The advance followed a rebound in semiconductor shares after recent losses in several AI-linked names. Broadcom climbed 3.7% after extending a custom chip supply and development agreement with Apple through 2031. The move helped lift the broader semiconductor group. The Philadelphia Semiconductor Index rose 2.2% after two losing…