Market news
Crypto, stocks, forex and macro, aggregated for traders.
US Wealth Divide Widens: Top 20% Account for Record 58% of Personal Spending
The top 20% of US earners now make up 58% of all personal spending, the highest on record, while the bottom 80% account for just 42%, the lowest. The gap has grown sharply since the pandemic.
Gold Falls to Seven-Month Low Below $4,000 as Fed Hike Bets Rise
Gold (XAU/USD) dropped to around $3,995 during Asian trading on Thursday, its lowest since November 2025, pressured by expectations of further Federal Reserve rate hikes and a stronger US dollar.
EUR/JPY Falls Below 100-Day SMA, Traders Eye 183
EUR/JPY dropped 0.08% on Wednesday, breaking below its 100-day SMA as speculation of Japanese FX intervention and higher-than-expected producer inflation in Japan weighed on the pair.
Foreign Holdings of US Stocks Hit Record $23.2 Trillion
Foreign investors piled into US equities in April, with holdings surging $2 trillion to a record $23.2 trillion, now owning 30.5% of the $76 trillion US stock market.
GBP/USD Recovery Stalls, Cable Dips Below 1.3150
GBP/USD confirmed the end of its attempted recovery, sliding to a low just under 1.3150 before closing slightly above fresh lows.
Yen Weakens Despite BoJ Rate Hike, USD/JPY Grinds Higher
The Japanese yen continued to slide against the U.S. dollar on Wednesday, defying expectations after the Bank of Japan raised its policy rate last week. USD/JPY pushed higher, approaching multi-decade lows.
USD/CHF Rallies to 11-Month High Above 0.8100
USD/CHF extended its rally for a third consecutive day, reaching an 11-month high of 0.8139 before settling near 0.8124.
USD/SGD Drifts Higher on Broad USD Strength, OCBC Says
OCBC analysts note USD/SGD has risen due to broad US dollar strength and softer risk sentiment, with bullish momentum and elevated RSI.
BNY: Institutional Flows Support Buy-the-Dip in Chinese Equities
Despite a bear market in the Hong Kong China Enterprises Index and 15-16% declines this year, BNY's Geoff Yu notes institutional investors continue to add, supporting a buy-the-dip stance.
Trump Calls Hormuz Transit Fees 'Unacceptable', Repeats Call for Lower Rates
Trump stated that imposing fees on transit through the Strait of Hormuz is 'unacceptable,' reiterated his demand for lower interest rates, and noted progress in talks with Mark Rutte.
Trump Dismisses Senate Iran War Powers Vote as ‘Meaningless’, Says Talks ‘Doing Great’
President Trump called the Senate's Iran war powers vote 'meaningless' and expressed confidence in U.S.-Iran negotiations, saying they are 'doing great.'
Trump Requests $500M for Penn Station Renovation, $1B for GM Retiree Benefits
President Trump has asked Congress for $500 million to renovate New York's Penn Station and $1 billion to enhance retirement funds for workers who lost benefits during GM's insolvency.
Qualcomm Targets $5B AI Data Center Revenue by FY2027, $15B by FY2029
Qualcomm announced ambitious revenue targets for its AI data center business, aiming for $5 billion by fiscal 2027 and $15 billion by fiscal 2029. The company also expects two hyperscale custom-chip customers to generate $1 billion in FY2027 revenue, with automotive revenue projected at about $10 billion by FY2029.
UOB Maintains Constructive USD/SGD Outlook, Targets 1.3000
United Overseas Bank analysts keep a bullish stance on USD/SGD after five consecutive daily gains, targeting a test of 1.2980 and eventually 1.3000 despite overbought conditions.
Wall Street Stabilizes as Oil Falls, Micron Surges on AI Demand
U.S. stocks ended mixed but mostly flat, with the S&P 500 little changed near 7,350. Micron jumped in after-hours trading on a strong sales forecast, while crude oil tumbled below $74 on progress in U.S.-Iran peace talks.
Micron Stock Surges Over 10% on Strong Earnings
Micron shares jumped more than 10% after reporting better-than-expected earnings, adding $120 billion in market cap.
Micron stock surges after fiscal Q3 earnings beat
Micron (MU) shares jumped in Wednesday's after-hours trading after the memory-chip maker reported a strong fiscal Q3 earnings beat, surpassing Wall Street estimates.
Fed: All 32 Large US Banks Pass Stress Test, Absorb Over $700B in Hypothetical Losses
The Federal Reserve announced that all 32 large U.S. banks passed its latest stress test, showing they can withstand a severe recession with over $700 billion in hypothetical losses while remaining above minimum capital requirements. The Fed also reaffirmed plans to keep capital levels broadly stable as it revamps its stress-testing framework.
Intel-Backed AI Chip Startup Sambanova Seeks Up to $1B in Funding, Valuation Could Reach $10B
Sambanova, an AI chip startup backed by Intel, is reportedly looking to raise between $800 million and $1 billion in a funding round that could value the company at around $10 billion, five times its previous valuation. General Atlantic is in talks to lead the round, which may close next week.
US Treasury Yields Slide on Strait of Hormuz Reopening, Easing Inflation Fears
US Treasury yields fell across the curve after the Strait of Hormuz reopened, reducing inflationary pressures and driving oil prices lower.
US Dollar Surges to One-Year High as Traders Await PCE Inflation Data
The US Dollar Index (DXY) climbs to a one-year high near 101.60 as markets focus on Thursday's PCE price index release.
Anthropic Accuses Alibaba of Unauthorized Access to AI Models
Anthropic has accused Alibaba of unauthorized access to its AI models, detailing allegations in letters to US senators and the White House amid rising US-China tensions over AI.
USD Strengthens on Higher-for-Longer Fed Outlook, Haven Demand – Scotiabank
The US Dollar extends its firmer tone, driven by expectations of a prolonged hawkish Fed, safe-haven flows, and mixed equity markets, according to Scotiabank strategists.
Qualcomm to Launch Data Center CPU in 2028, Secures Hyperscaler Deals with Microsoft and Meta
Qualcomm announced plans to launch its first data center CPU in mid-2028 and secured deals with Microsoft for Azure deployments and Meta as a CPU supplier, as part of its push into AI infrastructure.