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Oil prices edges lower; China stimulus, Trump repercussions in focusvictory
Oil prices slipped Thursday, continuing the previous session's weakness on the
back of a strong dollar and lower crude imports in China.
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Dollar falls against yen, US data leaves rate cut hopes intact
The dollar fell against the yen on Thursday, after the Bank of Japan's less
dovish remarks and U.S. data suggested upward price pressures continue to ease,
keeping the Federal Reserve on track to cut interest rates by 25 basis points
next week.
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Strategist sees additional upside for Bitcoin and gold prices if Trump wins
JPMorgan strategists said in a note Thursday that Bitcoin and gold could see
significant gains if former President Donald Trump wins the upcoming U.S.
election, as retail investors increasingly adopt the “debasement trade” by
investing in these assets.
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Oil prices stable after boost from US fuel demand
Oil prices stabilised on Thursday after rallying the previous day on stronger
than expected U.S. fuel demand and reports that producer group OPEC+ could delay
a planned output increase.
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Dollar steadies ahead of payrolls; German retail sales rise
The U.S. dollar traded in tight ranges Thursday, as traders digested some mixed
economic data ahead of the widely-watched payrolls report which closes out the
week.
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Microsoft forecasts slower cloud business growth in second quarter
Microsoft predicted increased spending on artificial intelligence this quarter
but slower growth in its cloud business Azure, signaling that big AI investments
were not enough to keep pace with capacity constraints at its data centers.
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Meta, Microsoft lift AI spending, worrying Wall Street ahead of Amazon results
Big tech including Microsoft (NASDAQ:MSFT) and Meta (NASDAQ:META) are stepping
up spending to build out AI data centers in a rush to meet vast demand, but Wall
Street is hungry for a quicker payday on the billions invested.
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