Topic
investor sentiment
Business Meta shares fall 11% as investor frustration grows over $130bn AI spending plans
Meta shares fell 11% on Wednesday after Q2 results revealed a 14% profit drop despite 28% revenue growth. Investors balked at CEO Mark Zuckerberg's plan to spend $130bn-$145bn this year, mostly on AI. The company also announced plans to sell AI models to other businesses.
Commodities Gold Surges Over 2% to $4,063 as Weak US Inflation Data Revives Fed Rate Cut Bets
Gold prices rallied more than 2% to $4,063.80 per ounce on Tuesday after US consumer inflation slowed more than expected in June, softening expectations for a Federal Reserve rate hike. However, renewed Middle East tensions and rising oil prices capped further gains. Citi Research maintained platinum and palladium price targets at $1,950 and $1,500 per ounce respectively.
Business AI Stocks Sink Again, Pulling Wall Street Towards Weekly Loss as S&P 500 Falls 0.6%
Wall Street fell on Friday as another sharp selloff in AI-linked stocks pushed the S&P 500 towards its second weekly decline in 13 weeks. The S&P 500 dropped 0.6%, the Nasdaq Composite fell 1%, and the Dow lost 223 points. Losses were led by Micron Technology (-5.5%), while Asian markets also tumbled, with Japan's Nikkei down 4.2% and South Korea's KOSPI off 5.8%.
Business Most Asian markets close higher as Taiwan Taiex and Japan Nikkei hit record highs
Most Asian stock market indices closed higher today, led by Taiwan's Taiex which surged 2.7% to a record intraday high. Japan's Nikkei also hit an all-time peak. Hong Kong's Hang Seng fell 0.6%, while European markets showed mixed performance.
Technology Accenture Outlook Cut Sparks Fresh Fears Over IT Recovery, Broking Firms Warn of Prolonged Weak Demand
Accenture cut the upper end of its FY26 revenue growth guidance by 100 basis points to 3-4%, sending shares down 18%. The downgrade has renewed concerns over global IT spending recovery, with brokerages Ambit and CLSA warning of prolonged weak demand for Indian IT companies, possibly extending into FY27. CLSA noted the guidance cut reflects macroeconomic challenges rather than AI disruption.
Business Dalal Street: Key Drivers of Market Sentiment This Week
Dalal Street is poised for a dynamic week as investors focus on the RBI's interest rate decision, economic data releases, and geopolitical developments. The market's direction will hinge on these factors, alongside macroeconomic indicators and foreign investor activity.