Latest Business News
Wall Street Pulls Back from Records as AI Stocks Slump
The S&P 500 fell 0.5% to 7,138.80, Dow dropped 0.1% to 49,141.93, and Nasdaq sank 0.9% to 24,663.80 on Tuesday due to sinking AI stocks. Chipmakers like Broadcom (-4.4%), Nvidia (-1.6%), and Micron (-3.9%) led declines ahead of earnings from Alphabet, Amazon, Meta, and Microsoft.
Oil Prices Climb on Stalled Talks to End Iran War
Oil prices gained as negotiations to end the Iran war stalled, with a proposal to postpone nuclear talks ruled out by US Secretary of State Marco Rubio. US gasoline averaged $4.18 per gallon, the highest since 2022, per AAA.
AI Growth Concerns Weigh on Tech Ahead of Earnings
Renewed worries over AI boom hit semiconductors, down over 40% YTD gains, with Nasdaq's biggest monthly loss. OpenAI missed user and revenue targets, pressuring Oracle (-4.1%) and CoreWeave (-5.8%).
Coca-Cola Surges on Strong Quarterly Results
Coca-Cola shares rallied 3.9% after beating profit and revenue expectations, driven by strength in China, US, and India. The company downplayed high oil impacts and raised its annual earnings target.
JetBlue Reports Wider Loss but Sees Demand Recovery
JetBlue posted a worse-than-expected Q1 2026 loss due to expensive fuel, but stock rose 1.2% as CEO noted strengthening customer demand.
General Motors Beats Estimates and Raises Forecast
GM advanced 1.3% after exceeding Q1 profit estimates and lifting full-year outlook, aided by resilient US car market and tariff refund.
UPS Shares Drop Despite Business Improvements
United Parcel Service fell 4% after reiterating full-year revenue target, as spiking fuel costs offset gains.
Big Tech Earnings Week Kicks Off with Hyperscalers
Alphabet, Amazon, Meta Platforms, and Microsoft report Q1 results Wednesday, followed by Apple Thursday, amid scrutiny on AI investments.
Asian Shares Fall Amid Global Market Pressures
Shares fell in Asia as slumping AI stocks and rising oil from Iran war impacted sentiment, mirroring Wall Street's pullback.
UK Financial Ltd Nears CoinMarketCap Ranking Milestone
UK Financial Ltd launched final phase for CoinMarketCap formal ranking, boosting its digital asset infrastructure's global visibility.
Semiconductor Selloff Hits Nvidia, AMD, Broadcom
Nvidia, AMD, and Broadcom dropped 1.6%-4.4%, with Nvidia-backed CoreWeave sliding 5.8% on AI growth doubts.