Author: Daniel Chang

Oil prices remained largely unchanged on Thursday, with the market reacting to a smaller-than-expected decline in U.S. crude inventories and ongoing concerns about demand from China, balanced by disruptions in oil supply from Libya. As of 0043 GMT, Brent crude futures saw a minor decrease, slipping by 1 cent to $78.64 per barrel. Meanwhile, U.S. West Texas Intermediate (WTI) crude futures experienced a slight rise, edging up by 8 cents to $74.60 per barrel. Both benchmarks had dropped by over 1% on Wednesday, following data that showed U.S. crude inventories had decreased by 846,000 barrels to 425.2 million barrels last…

New York – Meta’s Llama artificial intelligence models are being utilized by prominent companies such as Goldman Sachs and AT&T for various business functions, including customer service, document analysis, and code generation, according to a statement released by Meta on Thursday. The Llama models, which are mostly available for free, have been downloaded nearly 350 million times since Meta first made them publicly accessible last year. This marks an increase from the 300 million downloads reported when Meta introduced the latest and largest version, Llama 3, in late July. Meta also noted a significant rise in usage through cloud providers…

Dell Technologies announced its second-quarter results on Thursday, surpassing Wall Street’s expectations, fueled by a surge in revenue from its infrastructure solutions business, particularly driven by high demand for its AI-optimized servers. Following the announcement, Dell Technologies Inc (NYSE) saw its stock rise over 4% in after-hours trading. For the quarter ending on August 2, Dell reported adjusted earnings of $1.89 per share, with total revenue reaching $25 billion. These figures exceeded analyst predictions, which had estimated earnings at $1.68 per share and revenue at $24.14 billion. The Infrastructure Solutions Group, which encompasses AI-optimized servers and networking equipment, achieved record-breaking…

The approaching U.S. presidential election may significantly influence the European economy, especially concerning trade and defense, according to a recent report by UBS. The investment bank’s analysis highlights the growing momentum in the race, particularly following Kamala Harris’s entry, which has seen her campaign outpace Donald Trump’s in areas like fundraising and polling. While the election results remain unpredictable, the potential effects on Europe are becoming more evident. Regardless of the election outcome, trade is expected to be a critical issue for Europe. As the European Union’s largest trading partner, any change in U.S. trade policies could have widespread consequences…

U.S. stock futures saw modest gains with the S&P 500 futures inching up by 0.1% and Nasdaq 100 futures advancing by 0.3%. Meanwhile, the Dow Jones Industrial Average showed little movement, and the U.S. Dollar Index remained stable. The yield on the 10-Year Treasury stood at 3.903% as of 18:05 EST (22:05 GMT). Labor Market Takes Center Stage As a new week begins, investors are shifting their focus to crucial labor market data, which is expected to significantly influence U.S. markets. The previous month’s employment report fell short of expectations, leading to a broad sell-off in risk assets, compounded by…

The Dutch government has introduced new restrictions on ASML’s operations in China, specifically limiting the company’s ability to service and supply spare parts for its advanced deep ultraviolet (DUV) lithography machines. Despite these measures, analysts from JPMorgan and Wells Fargo believe that the impact on ASML’s overall earnings will be minimal. According to a note from JPMorgan, the Dutch government is reportedly planning to restrict ASML from renewing certain licenses required for servicing advanced DUV tools in China, a move likely influenced by pressure from the U.S. government. This comes in the wake of the U.S. signaling the potential for…

BENGALURU (Reuters) – Bank Negara Malaysia (BNM) is set to keep its key interest rate steady at 3.0% this Thursday and is likely to maintain this rate through at least 2025, according to a recent Reuters poll of economists. The decision comes as Malaysia’s economic growth remains strong and inflation stays manageable. Currently, inflation in Malaysia is at a controlled 2.0%, and the Malaysian ringgit has recently strengthened, shifting from being one of the weakest Asian currencies to one of the strongest. This development indicates that BNM will likely refrain from cutting rates anytime soon to avoid weakening the currency…

The year 2025 is shaping up to be a complex and potentially turbulent period for the Organization of the Petroleum Exporting Countries (OPEC). According to analysts from DNB Markets, OPEC could face significant hurdles in maintaining stable oil prices and market equilibrium due to a convergence of challenging factors. Several critical issues are expected to test OPEC’s strategies in 2025, including a possible oversupply of oil, slower global demand, and the broader implications of OPEC’s production policies. The core of OPEC’s challenges lies in the anticipated market conditions for 2025. Analysts from DNB Markets predict that the oil market may…

The international economic environment could face significant disruption if the United States implements considerably higher tariffs, particularly in a scenario where former President Donald Trump regains office and enacts his proposed trade measures. Analysts at Goldman Sachs warn that such tariff increases could have widespread effects on global economic growth, inflation, and monetary policies across various regions. In a potential scenario outlined by Goldman Sachs, the U.S. might impose a 10 percentage point tariff on all imports and increase tariffs on Chinese goods by nearly 20 percentage points. These measures would sharply elevate the effective tariff rate on U.S. imports,…

Intel (NASDAQ: INTC) may be bracing for potential challenges from activist investors, according to a recent CNBC report. The company has reportedly enlisted advisors, including Morgan Stanley, as CEO Pat Gelsinger seeks to steer the embattled chipmaker back on track. While Intel has previously encountered activist investors, the report notes that there is currently no confirmed campaign underway, and it remains unclear whether any activist investor has approached the company’s board. Bernstein analysts commented on the situation, saying, “When your stock is down 57% year-to-date, peers are experiencing market cap growth, dividends have been suspended, and investors are repeatedly disappointed,…