INDYNEWS
- Broadcom Gets Two Analyst Upgrades Tied to AI Chip Demand
Macquarie and Rosenblatt both moved to buy ratings, pointing to Broadcom's custom chip work for Anthropic and a roadmap analysts now value at $230 billion.
- Canadian Dollar Hits One-Week High As Bank Of Canada Holds Rates, Even As Toronto Home Sales Slip
The loonie strengthened on the rate decision the same week Toronto recorded its first monthly sales decline in six months.
- Biotech Downgrades Hit Ultragenyx on Trial Failure, Moderna on Valuation
Evercore ISI cut its rating on Ultragenyx after a failed trial while Rothschild Redburn downgraded Moderna over how the stock is priced.
- Broadcom Slides on Disappointing Results as Wall Street Splits on Valuation
Bernstein raised its price target to $575 on AI growth while TD Cowen cut its target to $475 on valuation concerns, a rare same-day split.
- Indian Rupee Rises Sharply Even as Services Growth Cools
The currency strengthened while an August PMI reading showed the services sector growing at close to its slowest pace in four years.
- Yen Jumps Below ¥157 as Traders Price In BOJ Rate Hike
A sudden overnight move pushed the dollar-yen rate under 157, lifting Japan's trading houses and dragging down exporters like Fast Retailing.
- Lynas Shares Rise On Report Of Earlier Takeover Talks
The rare earths miner's stock climbed after a report said it held takeover discussions earlier this year, before those talks ended.
- Nvidia Rallies as Dell Results Show AI Demand Beyond Big Cloud
Investors read Dell's earnings as evidence that AI hardware spending is broadening past the handful of major cloud providers that dominated early demand.
- Rising Bond Yields Threaten to Squeeze Magnificent Seven Even as Bond Funds Keep Attracting Cash
Investors are pouring money into bond funds despite the yield rise, while strategists warn higher rates could pressure both mega-cap tech stocks and consumer wallets.
- Chip Stocks Slide as Investors Split Over AI Supercycle Staying Power
Credo and Micron face fresh scrutiny even as bulls like AMD argue the AI buildout has further to run.
- Nvidia Gains on Hugging Face Deal, But Dell's Record AI Orders Fail to Excite Investors
Dell posted a record $60.9 billion AI order quarter and beat on guidance, yet investors reacted with less enthusiasm than the headline numbers suggest.
- US Strikes Iran, Tehran Retaliates in Biggest Clash Since July
The exchange of fire, described as the largest since July, coincided with European gasoline margins climbing near 2022 highs.
- Stocks Rise as Bond Market Selloff Pauses
A halt in the Treasury selloff gave equities room to climb in the September 2 session.
- Yen Spikes Past 160/USD, Stoking Bets on Bank of Japan Intervention
The move came as the G20 meeting wrapped up, while Berkshire Hathaway's Greg Abel said Japanese bond yields aren't worrying the conglomerate's Japanese trading-house holdings.
- Ten-Year Treasury Yield Hits Highest Level Since 2023
Elevated oil prices and rate-hike risk pushed long-term borrowing costs to a three-year high in the September 2 session.
- Global Bond Selloff Deepens, Pushing Yields to Multi-Decade Highs
Inflation fears drove a synchronized retreat from bonds and stocks while the dollar extended its advance.
- Palo Alto Networks Holds $415 Target Across Three Brokerages
Stifel, Jefferies and Citizens all reiterated bullish views on the cybersecurity firm's AI-driven growth.
- Dell Price Targets Climb as High as $735 on AI Server Demand
Four brokerages raised targets within hours of each other, citing margin strength and AI server growth.
- Lottomatica to Absorb Cirsa in $3.7 Billion All-Share Gaming Merger
The combination creates a larger pan-European gambling operator and sent Cirsa shares surging.
- Oil and Gas Jump, European Stocks Hit One-Month Low as US-Iran Clash Resumes
Renewed US-Iran hostilities pushed European gas prices to their highest level this year and dragged the FTSE 100 and broader European indexes lower on September 2.
- Long-Bond Selloff Spreads: Australia Yields Hit 15-Year High as Banks Scramble for Cash
Rising government bond yields from Australia to the UK are forcing banks to swap riskier credit assets for central-bank cash, reviving talk of 'bond vigilantes.'
- Iran-US Strikes Send Oil Near $90, Trigger Broad Crypto Selloff
Every major cryptocurrency fell over the past 24 hours as fresh strikes near the Strait of Hormuz pushed energy prices higher and hit risk assets broadly.
- Asian Markets Slide As Oil Surge And Bond Yields Jump
A jump in crude prices and rising bond yields pushed benchmark indexes lower across Asia even as Australia's economy beat growth forecasts.
- Nvidia Nears $14 Billion Deal to Acquire Hugging Face, Bloomberg Reports
The AI chipmaker could seal one of its largest acquisitions this week, folding a leading open-source AI model repository into its ecosystem.
- Oil Hits Three-Day Rally as Iran Conflict Widens, Asian Stocks Fall
Brent crude topped $96 a barrel and the dollar held firm as fresh U.S.-Iran strikes pushed bond yields higher and knocked Asian equities lower.
- Apple to Pay Tim Cook $47 Million as Executive Chair
The compensation package reveals Apple has crafted a hybrid leadership structure, with successor John Ternus set to earn $58 million.
- Palo Alto Networks Beats Estimates, Buys AI Platform Console
The cybersecurity firm topped quarterly forecasts the same day it announced the acquisition.
- Morgan Stanley Sets $150 Target on Robinhood, Citing Prediction Market Boom
The upgrade points to a new revenue line beyond stock and options trading as Robinhood's business model draws fresh scrutiny.
- US Strikes on Iran Send Oil Above $94, Dow Drops 400 Points
Refiners and tanker operators rallied on the Hormuz threat while the IAEA said it could not confirm the status of Iran's nuclear program.
- Bitcoin Faces 'Rektember' Test as Rate-Hike Risk Meets Seasonal Weakness
Historically bitcoin's worst month collides this year with fresh hawkish Fed signals and rising bond yields.