General News

Midday movers: Apple, Oracle, Zillow rise; Rubrik falls Jun 12, 2024 11:42AM (Updated - June 12, 2024 11:42 AM EDT)

Investing.com -- U.S. stock futures rose Wednesday following the release of inflation data that showed stable consumer prices in May, paving the way for potential rate cuts from the Federal Reserve later this year. The FOMC will likely leave its main rate unchanged at the conclusion of its policy setting meeting this afternoon. In light of recent data, investors will parse comments from Chairman Jerome Powell for clues about the... (continue reading...)

Cathie Wood's ARK says Tesla stock price could hit $2,600 by 2029 Jun 12, 2024 10:15AM

Tesla’s price per share could surge to as high as $2,600 by 2029, ARK Investment Management said Wednesday.

Citing data from their updated open-source model, Ark said this projection reflects the expected value, with the bull case suggesting a potential price of $3,100 and the bear case estimating $2,000 per share.

One of the primary drivers behind this forecast is the expected launch of Tesla (NASDAQ: TSLA)'s robotaxi service, which, per ARK’s estimates, could account... (continue reading...)

AI-powered Apple overtakes Microsoft as world's most valuable company Jun 12, 2024 09:48AM

By Sruthi Shankar

(Reuters) - Apple once again became the world's most valuable company on Wednesday, dethroning Microsoft from the top spot, as the iPhone maker pushed ahead in a race to dominate artificial intelligence technology.

Its shares jumped nearly 4% to a record $215.04, giving it a market valuation of $3.29 trillion. Microsoft's market capitalization stood at $3.24 trillion, falling behind Apple for the first time in five... (continue reading...)

Gold rush to endure through 2024 though $3,000 mark may prove elusive Jun 12, 2024 09:41AM

By Brijesh Patel and Ashitha Shivaprasad

SINGAPORE (Reuters) - Gold's lightning rally to successive record highs shows every sign of continuing in the second half of 2024 as the fundamental case for bullion remains firmly in place, though $3,000 per ounce looks just out of reach, traders and industry experts said.

Investors have flocked in droves towards the precious metal, driven by expectations for monetary easing, geopolitical tension... (continue reading...)

Fed's road to rate cuts clears as inflation eases Jun 12, 2024 09:40AM

By Ann Saphir

(Reuters) -Federal Reserve policymakers have reason to feel more confident that inflation is cooling after a U.S. government report on Wednesday showed consumer prices did not rise at all in May, potentially clearing the way for a start to interest-rate cuts before summer's end.

The unexpectedly benign inflation report, which also showed underlying price pressures cooled to a level more consistent with the Fed's 2% inflation... (continue reading...)