Big Tech’s data center build-out is facing mounting resistance from lawmakers. This week, Sens. Josh Hawley (R-Mo.) and Richard Blumenthal (D-Conn.) introduced the first bipartisan bill in Congress designed to prevent data center power usage from affecting consumers’ electric bills. A week earlier, on Feb. 6, New York became at least the sixth state to…
US stocks rebounded on Friday from a weeklong tech bruising as Wall Street reassessed worries about the impact of AI disruption and the risks of hefty Big Tech spending. The Dow Jones Industrial Average (^DJI) led the way higher, surging by about 2.5%, or more than 1,200 points, to climb ahead of the 50,000 level…
The debate still rages over whether AI is in a bubble, but most agree that the top stocks sure do look expensive. While some see the bubble bursting outright, others are eyeing a situation where the momentum slowly seeps out. The red-hot AI trade has been the driving force behind the market’s strong growth in…
Musk was reacting to von der Leyen’s unveiling of the European Democracy Shield, a new strategy to step up the fight against foreign interference online, including in elections. “Democracy is the foundation of our freedom. Democracy is the foundation of our prosperity. Democracy is the foundation of our security,” von der Leyen wrote on social…
US stock futures rose Monday morning as Wall Street digested a rotation out of Big Tech into more defensive corners of the market and awaited a key congressional vote to end the longest government shutdown in US history. Dow Jones Industrial Average futures (YM=F) hovered above the baseline, while S&P 500 futures (ES=F) inched up…
Investor Michael Burry disclosed on Monday that his hedge fund, Scion Asset Management, has taken positions against tech heavyweights Nvidia (NVDA) and Palantir (PLTR). Burry, who rose to fame for correctly predicting the US housing market bubble and subsequent stock market crash in 2008, has taken out puts — or trades that benefit from a…
US stock futures slumped on Thursday as Wall Street eyed the US-China trade truce struck by Presidents Trump and Xi, cooling odds of another interest-rate cut, and the next tranche of Big Tech earnings. Dow Jones Industrial Average (YM=F) futures slipped 0.3%. Contracts on the broad benchmark S&P 500 (ES=F) also fell 0.3%, while those…
US stock futures edged lower Wednesday night as Wall Street digested a wave of Big Tech earnings alongside the Federal Reserve’s latest interest rate move, while waiting for President Trump’s long-awaited summit with Chinese leader Xi Jinping. Dow Jones Industrial Average futures (YM=F) fell about or 0.2%, while S&P 500 futures (ES=F) slipped 0.1%. Nasdaq…
Today, Nvidia Corporation (Nasdaq: NVDA) became the first company to cross the $5 trillion valuation—in premarket trading, at least. It marks a major milestone in stock market history and suggests that once other unthinkable valuations are within reach. But Nvidia isn’t the only company breaking a trillion-dollar threshold. Fellow tech giants like Apple, Meta, and…
US stock futures edged higher Sunday evening as Wall Street geared up for a pivotal week featuring the Federal Reserve’s expected rate cut, a barrage of Big Tech earnings, and a long-awaited meeting between President Trump and Chinese President Xi Jinping. Futures tied to the S&P 500 (ES=F) gained about 0.7%, while Nasdaq 100 futures…