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Crude prices rebounded on Wednesday after Yemen’s Iran-backed Houthi miitants claimed they had struck a Saudi Arabian tanker in the Red Sea.Brent crude, the international price benchmark, was last seen trading at $80.32 a barrel, an increase of more than 1.2%, while U.S. West Texas Intermediate futures for September delivery rose 0.67% to $76.28.Stock Chart IconStock chart iconBrent crude.The Iranian-aligned Houthis said they hit the tanker with a missile near the coast of Yanbu, a major port for Saudi crude oil exports.The reported strike, and subsequent rebound in oil prices, rattled markets, and appeared to sour hopes of a potential…
AMD’s stock plunged on Wednesday despite posting earnings that beat expectations, as investor enthusiasm for the Nvidia challenger waned.The stock was last down 8.2% in premarket trading.The market jitters come despite AMD revenue climbing 50% to $11.54 billion in the second quarter, ahead of analyst expectations of $11.28 billion, in a sign of the company’s central position in the market for AI chips.Data center sales drove much of the company’s growth, up 107% on an annual basis to $6.7 billion, which the company attributed to central processing unit and graphics processing unit sales.But while second-quarter earnings came in “slightly ahead”…
The badge of an Immigration and Customs Enforcement (ICE) agent.Michael M. Santiago | Getty ImagesPresident Donald Trump’s mass deportation campaign has caused the costs of groceries, homes and healthcare to rise and local economies to contract, a new report from the pro-immigration advocacy group America’s Voice.The group deems those added costs the “ICE Tax” — a reference to U.S. Immigration and Customs Enforcement — and on Wednesday released data, first shared with CNBC, putting dollar figures on the ways they say Trump’s policies are hurting the economy.”Forcibly deporting hundreds of thousands of essential workers means extra dollars at the grocery…
Goldman Sachs has updated its top European stock picks for August, giving two companies a standout upside of more than 100%, including one as high as 168%. Here’s where the investment bank sees the biggest upside on their 12-month price targets, in order: Ceres Power Ceres Power can deliver a 168% upside, according to Goldman analysts. The U.K. fuel cell developer has underperformed the ongoing AI rotation, tumbling more than 31% in July as investor concerns over supply chains, execution and the durability of AI-related demand drove a broader tech reversal. CWR-GB 1M mountain Ceres Power. But analysts see the slide…
A live feed shows SpaceX CEO Elon Musk on the day of SpaceX’s initial public offering (IPO) at the Nasdaq MarketSite, in New York City, U.S., June 12, 2026. Jeenah Moon | ReutersSpaceX shares plunged on Wednesday after a surge in AI spending rattled investors and clouded an otherwise expectation-beating quarter.The stock was down over 10% in premarket trading. In SpaceX’s first earnings report as a public company on Tuesday, Elon Musk’s space firm said its capital expenditures jumped sixfold to $18.4 billion in the second quarter. This figure was ahead of analyst expectations, with the majority of the spending…
An aerial view shows a former eel fishing boat covered in dried mud among on low water among the banks of the river Rhine near Neuss, western Germany, on July 30, 2026, as the water level in the Rhine is falling to a record low following exceptionally hot weather.Ina Fassbender | Afp | Getty ImagesThe drought in Europe is so severe that it is jeopardizing countries’ economic growth and forcing them to take extreme measures like blowing up riverbeds.Gripped by a summer of weather extremes, Romania recently shut down its sole working nuclear reactor cooled by the Danube for the…
Two people have died amid the ongoing record-breaking outbreak of explosive diarrhea from the foodborne parasite Cyclospora, Michigan health officials announced Monday. Cyclosporiasis fatalities are extremely rare, and despite the massive size of the outbreak, some experts were still surprised by the deaths. The Michigan Department of Health and Human Services on Monday said that medical records of both individuals indicated that they had “significant underlying health conditions that may have been impacted by cyclosporiasis and dehydration.” MDHHS noted that both fell ill with the diarrheal infection before Taylor Farms recalled its shredded iceberg lettuce grown in Mexico, which has…
Dedicated thermal satellites offer firefighters clearer data on fires Source link
CNBC’s Jim Cramer said Tuesday the biggest obstacle to technology stocks has finally been removed.”Ever since we found out that Leopold Aschenbrenner’s hedge fund, Situational Awareness, blew up last week, we’ve seen tech stocks flying all over the place, unleashed, unbound and roaring higher, catapulted by the lack of sellers of any size,” the “Mad Money” host said. Situational Awareness, the AI-focused hedge fund founded by former OpenAI researcher Leopold Aschenbrenner, was forced to unwind its highly leveraged portfolio last week after suffering steep losses. Cramer said the liquidation — along with selling from investors who had copied the fund’s…
This report is from this week’s CNBC UK Exchange newsletter. Like what you see? You can subscribe here.The dispatchOn Jan. 4, 2022, shares of Diageo hit an all-time high, making it the FTSE 100’s third most valuable company, with a stock market value of nearly £90 billion (roughly $121 billion).The world’s biggest spirits company, whose brands include Johnnie Walker scotch whisky, Smirnoff vodka, Tanqueray gin, Captain Morgan rum, Don Julio tequila and Guinness stout, has since seen its share price more than halve as its fortunes have waned.The company enjoyed astonishing sales growth during the Covid-19 lockdowns, when households discovered the joys…