The Footsie ended the week up 2.7% as investors rotated back into tech and defensive stocks, after Nvidia's Jensen Huang defended its investment in CoreWeave and eased worries about AI infrastructure spending. Concerns remain over higher borrowing costs for debt-heavy tech firms, with markets pricing in more Fed rate hikes, while Fed Chair Kevin Warsh gave little guidance ahead of the meeting in two weeks. Treasury yields eased after rising above 5.3% this week, and Brent crude stayed around $105 a barrel amid Middle East conflict. WISE shares came under pressure despite an upgraded full-year revenue growth outlook of 17.5% to 20%, as net revenue rose 21% to $739 million in the second quarter and active customers grew 20% to 12.5 million, though revenue growth slowed from 25%. Investors are watching whether this momentum can translate into sustainable profit growth.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on actuarialpost.co.uk ↗
Related news
- ECB officials see December rate hike as uncertainty clouds 2027 outlook
- Tech sell - off rolls on as hot inflation data stokes rate worries
CoreWeave, an AI data centre infrastructure company, fell 3.6% after plunging 15.5% the previous day, and Nvidia is both a major client and a large shareholder. The Nasdaq Composite slipped 0.3% while the Dow rose, as investors rotated out of speculative AI infrastructure into established sectors. Seoul's Kospi closed down 7.6% and Tokyo's Nikkei 225 fell 4.9% as traders sold chipmakers, while European markets were more resilient. The sell-off was driven by US consumer prices rising to 3.7% in September, above expectations, and wholesale inflation hitting 6.3% annually, its biggest jump since 2022 as petrol prices surged amid the war with Iran, raising expectations of at least one more Fed rate hike. Because tech firms depend heavily on borrowing for AI spending, they are especially sensitive to higher rates, and the Fed decision is due October 28, a week before the US midterm elections.
- Tech sell-off rolls on as hot inflation data stokes rate worries
Asian stocks plunged and tech shares extended their sell-off on Wall Street on Thursday, as investors feared that hotter-than-forecast US inflation would push the Federal Reserve to raise interest rates again. Nvidia shed 3.1 percent, while Micron, Marvell and AMD fell more than 5 percent and CoreWeave dropped 7.3 percent after a 15.5 percent slide on Wednesday. The Nasdaq and S&P 500 fell at the open while the Dow rose, and European markets held up better thanks to lower tech exposure. In Seoul, the Kospi plunged more than 8 percent, triggering a brief trading halt, with SK hynix down over 11 percent and Samsung down over 9 percent; Tokyo fell close to 5 percent. US consumer prices rose to 3.7 percent in September, above expectations, and wholesale inflation hit 6.3 percent year on year, its biggest jump since 2022 as petrol prices surged due to the war with Iran.
- SK Hynix plunges 8% amid Asia tech rout as Fed rate hike fears, AI funding worries mount
Global technology hardware stocks extended their sell-off on Thursday, with Asian chipmakers following Wall Street's losses. SK Hynix fell over 8% and Samsung Electronics dropped 7.1%, while LG Innotek, Seoul Semiconductor and Samsung SDI lost between 6.8% and 8.1%. In Japan, SoftBank Group fell 7.9% and Advantest 6.9%, with Tokyo Electron and Renesas Electronics each down 5.4%. Investors fear further Federal Reserve rate hikes could raise borrowing costs for massive AI infrastructure spending, after hotter-than-expected U.S. inflation data drove a sharp Wall Street sell-off, with the Nasdaq Composite down 1.88% to 26,692.87, the S&P 500 down 1.11% to 7,718.94 and the Dow Jones down 0.09%.
- Bitcoin’s $100,000 year-end hope divides analysts as inflation clouds outlook
Bitwise's Ryan Rasmussen says bitcoin could end the year above $100,000, citing institutional buying through ETFs and corporate purchases, demand for hard assets, and clearer regulation. LO:TECH's Adam Morgan McCarthy is more cautious, forecasting an $85,000–$95,000 range by year-end as the Fed's September hike and a December hike priced at roughly 75% weigh on the market. Inflation data released October 14 showed consumer prices up 0.6% from the previous month, with gasoline accounting for more than half of the rise. Laser Digital's Luca Invernizzi sees leverage largely flushed out and a possible short squeeze if bitcoin breaks above $90K, while bitcoin traded around $81,500 at publication.
- Canadian dollar gains as dollar retreats, hot U.S. PPI clouds outlook
The Canadian dollar strengthened against the U.S. dollar on Thursday as the greenback retreated from an 18-month high, with USD/CAD down 0.29% to C$1.4197 around 8:24 a.m. ET. However, U.S. producer prices for final demand rose 1.3% in September from the prior month, well above the 0.6% expected, and climbed 6.3% year on year versus a 5.3% forecast. The data followed hotter-than-expected consumer inflation, raising concerns that persistent inflation could keep Federal Reserve policy restrictive for longer. The dollar index fell 0.2% to 102.03, while easing Treasury yields offered temporary support to the Canadian currency. Investors will now assess whether these readings strengthen expectations for another Fed rate hike.
Related markets
Latest news
- Winning over Vingroup and Sun Group with concrete and special materials: Vietnamese company's profit up 136%, chairman speaks out
Song Da Cao Cuong (SCL) reported Q3/2026 profit of VND 38 billion, up 136%, on net revenue of over VND 263 billion (up nearly 98%), while gross profit margin rose from about 36% to 41%. For the first nine months, revenue reached nearly VND 666 billion (up 81%) and after-tax profit nearly VND 94 billion, already exceeding more than 110% of its full-year profit target. Chairman Kieu Van Mat attributed the results to technology upgrades, production line optimization and capacity expansion, with several new plants expected to start operations by November 2026. The company said it spent more than two years testing its products before Vingroup accepted them; Vingroup's share of its business has fallen to about 25% as customers expanded to around 10 major groups and exports began to Laos, Cambodia and the Philippines. Over the past two years, the company has invested about VND 1,000 billion in factories and technology.
- Coteccons Chairman Bolat Duisenov reveals new direction: expanding home construction for individual customers
At the annual general meeting on October 20, Coteccons (HoSE: CTD) set fiscal 2027 targets of VND 42,000 billion in revenue and VND 1,050 billion in after-tax profit, and said it is considering expanding into residential construction for individual customers (B2C). In fiscal 2026, net revenue reached VND 34,340 billion (up 38%, 115% of plan) and after-tax profit VND 788 billion (up 73%); new contract wins totaled VND 60,307 billion and backlog was about VND 70,000 billion. In the first quarter of the new fiscal year, the company booked revenue of VND 11,270 billion and profit of VND 306 billion, but new contract value of VND 14,519 billion was lower than a year earlier; the company said it is tightening criteria for selecting clients and projects. Coteccons is also working with Microsoft, is expected to become a strategic partner of Workday, and targets raising its ROE from 10% to 15-18% by 2030.
- UPS Yields 6.7% After Firing Amazon. Here's Whether the Dividend Survives 2027.
UPS shares yield 6.7% as of October 16. The company has moved away from high-volume, low-margin Amazon deliveries and froze its dividend earlier this year, ending a 16-year streak of increases. The article says the payout will likely remain frozen through 2026 and 2027, citing competition from 10- and 30-year Treasury yields above 5% and other industrial dividend payers, but calls the dividend's safety questionable: UPS generated $5.47 billion in free cash flow in 2025, with $5.4 billion going to dividends, and free cash flow is projected to fall to $5.05 billion in 2026 and $5.01 billion in 2027, with the dividend absorbing about 98% of 2026 free cash flow. Rising competition and high fuel prices add pressure, and the article suggests investors may find more safety in the industrial sector.
- Asian shares mostly decline after AI stocks lead a rebound on Wall Street
Asian shares mostly fell in cautious trading on Tuesday after AI-related stocks rebounded on Wall Street, while other sectors stayed shaky and oil prices stayed high. Japan's Nikkei 225 slipped 0.6% to 64,512.35 in early trading, South Korea's Kospi dropped 2.8%, and Australia's S&P/ASX 200 lost 0.8%. On Wall Street, the S&P 500 rose 0.4% and the Nasdaq gained 1.1%, helped by Nvidia's 1.4% gain, while most stocks outside AI and tech fell and the Dow slipped 0.1%. The 10-year Treasury yield climbed to 5.14%, and U.S. crude rose to $103.50 a barrel and Brent to $109.47, as uncertainty about when the energy industry will return to normal after the war with Iran means oil is unlikely to ease soon.
- Asian shares mostly decline after AI stocks lead a rebound on Wall Street
Asian shares mostly fell in cautious trading Tuesday after AI-related stocks rebounded on Wall Street, while other sectors stayed shaky and oil prices remained high. Japan's Nikkei 225 slipped 0.6% to 64,512.35, Australia's S&P/ASX 200 lost 0.8% to 8,772.10, and South Korea's Kospi dropped 2.8% to 5,605.31. On Wall Street, the S&P 500 rose 0.4% and the Nasdaq rallied 1.1%, helped by Nvidia, while the Dow fell 0.1%. The 10-year Treasury yield climbed to 5.14%, and U.S. crude rose 0.15% to $103.50 a barrel as uncertainty over the war with Iran kept oil prices elevated.
- What Could X-Energy (XE) Gain From Its 960MW Indiana Nuclear Project?
X-Energy (NasdaqGS:XE), American Electric Power and Amazon agreed to assess a 960 MW advanced nuclear project in Indiana using Xe-100 reactors, on a former coal plant site. Under the joint development agreement, Amazon would provide development funding and commit to a long-term power purchase. The article says the deal offers commercial validation for X-Energy's reactor platform rather than immediate financial relief, as the company, with a $4.3b market cap, reported $150.28 million in revenue, a $448.87 million loss, and a 20.2x price-to-sales ratio. The next key milestone is whether the study reaches a final investment decision for the Sullivan County site.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.