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London’s benchmark equity indexes traded lower on Friday as weakness in commodity-linked stocks and continued uncertainty surrounding artificial intelligence-related shares weighed on investor sentiment. Declining crude oil and metal prices further pressured the market, while investors also remained focused on inflation risks and the outlook for UK interest rates.Commodity stocks lead market declineThe blue-chip FTSE 100 index fell 0.7% by 0907 GMT, while the domestically focused FTSE 250 index declined 0.6%.Energy companies were among the biggest drags on the FTSE 100. Shares of Shell and BP each fell more than 1%, tracking a nearly 2% decline in crude oil prices…

Forget the reflex that says memory chips are dumb commodities doomed to boom and bust. The single most important number in Micron Technology’s (NASDAQ: MU) fiscal third quarter is not the record $41.5 billion in revenue or the roughly 85% non-GAAP gross margin — it is the $22 billion in customer cash deposits the company has already collected against memory it has not yet shipped (TechTimes). Customers do not pre-pay billions for a commodity. They pre-pay for something they are terrified of not getting. With MU trading near $1,048 after a roughly 700% one-year run that pushed its market capitalisation…

Binance told customers across several European Union countries it will suspend services from July 1 after failing to secure a Markets in Crypto-Assets (MiCA) license before the bloc’s regulatory deadline, severing the world’s largest crypto exchange by trading volume from its biggest regional user base. The Abu Dhabi-based exchange has stopped accepting new registrations in the EU and emailed clients in France, Italy, Poland and Spain ahead of a June 30 cutoff, a company spokesperson confirmed. A crypto firm needs MiCA authorization from a single member state to passport services across all 27 EU countries, and any provider without that…

Cathie Wood’s Ark Innovation Fund (ARKK) ETF stock has remained inside a narrow range in the past few months. ARKK has remained between the support and resistance levels at $72.68 and $82.35 since April. It has risen by 9% in the last 12 months, while the Nasdaq 100 Index has soared by 28%. ARKK has dropped by 1.82% this year, while the index has jumped by 15.90%, meaning that it is not participating in the ongoing artificial intelligence (AI) boom. So, with the ongoing underperformance, what is the need for paying a hefty fee of 0.75% for a fund that continues to…

Micron Technology (MU) briefly moved ahead of Meta Platforms (META) and Tesla (TSLA) in market capitalization on Thursday, after a strong outlook from the memory chipmaker extended its rally driven by artificial intelligence demand.Micron’s shares had surged 18.4% at $1,236, giving the company a market value of $1.398 trillion. This compared with Meta’s $1.392 trillion, while Tesla stood at about $1.4 trillion.The stock is currently trading up by 10.13% and has a market capitalization of $1.3 trillion.The move comes after Micron’s fourth-quarter revenue and profit forecasts helped reverse a recent slump. The company also said customers had committed $22 billion…

Thailand’s Department of Special Investigation has issued an arrest warrant for Chinese businessman Wang Yicheng, alleging he helped run a network that laundered proceeds from scams and online gambling through illegal cryptocurrency mining. Investigators uncovered the network while probing mining operations that illicitly drew some $28 million worth of electricity, one of the largest such cases the agency has handled in recent years. Thailand Charges Wang Yicheng as the Network’s Key Figure DSI spokesman Police Major Woranan Srilam said on Tuesday that authorities charged Wang in November with theft and with violating the Computer Crimes Act, which covers interfering with…

Thailand’s Department of Special Investigation has issued an arrest warrant for Chinese businessman Wang Yicheng, alleging he helped run a network that laundered proceeds from scams and online gambling through illegal cryptocurrency mining. Investigators uncovered the network while probing mining operations that illicitly drew some $28 million worth of electricity, one of the largest such cases the agency has handled in recent years. Thailand Charges Wang Yicheng as the Network’s Key Figure DSI spokesman Police Major Woranan Srilam said on Tuesday that authorities charged Wang in November with theft and with violating the Computer Crimes Act, which covers interfering with…

Zeta Global stock price jumped on Tuesday after the company intensified its pivot towards artificial intelligence (AI) by partnering with Palantir Technologies. It jumped to $20.50, and then pared back some of those gains to close at $19.50. So, will this partnership boost ZETA shares in the near future?Zeta Global inks key partnership with PalantirZeta Global is a top company in the adtech industry, where it provides the Zeta Marketing Platform (ZMP) that is used by companies and advertising agencies. ZMP analyzes structured and unstructured data points to predict consumer behavior. Zeta also offers the Consumer Data Platform (CDP) that ingests,…

Wendy’s shares WEN surged more than 30% in early trading on Wednesday as retail investors piled into the fast-food chain, overshadowing the company’s latest executive appointment and reviving memories of the meme-stock frenzy.The rally came after Wendy’s announced the appointment of former Potbelly executive Steven Cirulis as chief financial officer and chief strategy officer. While management changes can sometimes move stocks, the scale of the gains suggested that retail trading activity was the primary driver.Heavy buying pushed the burger chain among the most discussed names on social media platforms. According to data tracked by Swaggy Stocks, Wendy’s ranked as the…

EURUSD currency pair can be expected to fall to the next support level 1.13500 (target price for the completion of the active intermediate impulse wave (3). EURUSD broke support zone Likely to fall to support level 1.13500 EURUSD currency pair recently broke the support zone between the strong support level 1.1415 (which reversed the price sharply in May, as can be seen from the daily EURUSD chart below) and the support trendline of the daily down channel from April. The breakout this support zone accelerated the active short-term impulse wave 3  – which belongs to the intermediate impulse wave (3)…