US stocks plummeted in Q1 2023, their worst quarter in 3 years, as investors fled to safe havens ahead of President Trump's April 2nd announcement threatening sweeping global tariffs, sparking fears of stagflation, recession and deglobalization despite some experts' skepticism that Trump's tariffs alone can reverse globalization.
SoftBank Group plans to invest up to $40 billion in OpenAI, with $10 billion upfront and up to $30 billion more by 2026, to support OpenAI's quest for Artificial General Intelligence and ultimately Artificial Super Intelligence for the advancement of humanity.
An undercover sting operation uncovered a convicted fraudster running shady whisky investment schemes under aliases, exposing tactics used by criminals to scam investors and emphasizing the need for diligent background checks in the whisky trade.
Amid escalating trade tensions fueled by President Trump's tariff policies, hedge funds are rapidly dumping technology stocks at the fastest rate in six months, with sentiment among these investors described as 'very bearish' and 'very cautious' due to heightened market volatility.
CoreWeave, a tech company initially eyeing a $30 billion IPO valuation, has scaled back its ambitions, now targeting a valuation closer to its $23 billion private market level and slashing its planned fundraising by half to $1.5 billion.
Inflation defied predictions by climbing higher in February, with the core PCE price index rising 0.4% and the 12-month rate hitting 2.8%, complicating the Federal Reserve's decisions on future interest rate moves amidst mixed consumer spending and income data.
CoreWeave, an AI computing solutions provider, adjusted its IPO pricing amid market volatility, raising $1.5 billion at a $19 billion valuation by pricing shares at $40, below the expected $47-$55 range, to align with buyer interest amidst macroeconomic challenges.
The Conference Board's consumer confidence index plummeted to its lowest level in over a decade, with future expectations and current conditions both declining sharply, reflecting widespread economic anxieties and pessimism about income prospects amid ongoing economic turmoil.
Analyzing 10,353 companies, the current stock market snapshot reveals an average P/E ratio of 15.7, providing insights into company valuations based on their stock prices and earnings per share.
Stocks surged, with the Dow climbing 383 points and the S&P 500 and Nasdaq rallying over 1%, as the Federal Reserve held interest rates steady but signaled potential future rate cuts, boosting investor optimism about economic resilience.