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Zawya
6 minutes ago
- Zawya
US Stocks: S&P 500, Nasdaq hit new closing highs on rate cut hopes
NEW YORK: The benchmark S&P 500 and Nasdaq indexes hit new closing highs for the second straight day on Wednesday on hopes that the Federal Reserve was getting close to a monetary easing cycle. But the market reflected weakness in some technology stocks after the previous day's strong gains. Signs that U.S. tariffs on imports have not fully filtered into headline consumer prices came as a relief for investors this week as they seek insight on the impact of trade uncertainty on the economy. Some large technology stocks including Nvidia, Alphabet and Microsoft - among the so-called Magnificent Seven stocks - closed lower as investors searched for new growth drivers. "Valuations are elevated. I do think, though, at the end of the day, the key will be the delivery of earnings, and that's what we're seeing," said Katherine Bordlemay, co-head of client portfolio management, fundamental equities at Goldman Sachs Asset Management. She said the dispersion of stock-level returns in the U.S. is at one of the higher levels of the last 30 years. Apple rose 1.6% after Bloomberg News reported the company is plotting expansion into AI-powered robots, home security and smart displays. The Dow Jones Industrial Average rose 463.66 points, or 1.04%, to 44,922.27, the S&P 500 gained 20.82 points, or 0.32%, to 6,466.58 and the Nasdaq Composite gained 31.24 points, or 0.14%, to 21,713.14. The Russell 2000 index, which tracks rate-sensitive small-cap companies, rose almost 2% to hit a six-month high. Traders are now fully pricing in a 25 basis-point interest rate cut, according to the CME's FedWatch Tool. The central bank last lowered borrowing costs in December. Treasury Secretary Scott Bessent said on Wednesday he thought an aggressive half-point cut was possible, given recent weak employment numbers. Investors were also taking notice of other sectors following the recent tech-led rally in U.S. stocks that has pushed valuations of the S&P 500 above long-term averages. Healthcare stocks, which have been beaten down for much of the year, rose 1.6% to rank among the leading sectors in the 11 S&P 500 sectors. Chicago Federal Reserve President Austan Goolsbee said on Wednesday the U.S. central bank is grappling with understanding whether tariffs will push up inflation just temporarily or more persistently, which would inform its decision on when to cut interest rates. CoreWeave, which is backed by Nvidia, fell almost 21% after the AI data center operator reported a bigger-than-expected quarterly net loss. Paramount Skydance jumped 36.7% as the company won exclusive broadcasting rights to the Ultimate Fighting Championship for seven years. Advancing issues outnumbered decliners by a 4.05-to-1 ratio on the NYSE. There were 630 new highs and 56 new lows on the NYSE. On the Nasdaq, advancing issues outnumbered decliners by a 2.53-to-1 ratio. The S&P 500 posted 40 new 52-week highs and 2 new lows while the Nasdaq Composite recorded 149 new highs and 69 new lows. Volume on U.S. exchanges was relatively light, with 16.9 billion shares traded, compared with an average of 18.3 billion shares over the previous 20 sessions.
The National
an hour ago
- The National
Mohamed bin Zayed University of Artificial Intelligence welcomes first undergraduate students
The first cohort of students pursuing a bachelor's degree in AI will soon begin classes at Abu Dhabi's Mohamed bin Zayed University of Artificial Intelligence. The university, which opened in 2020 and previously offered only postgraduate programmes, will welcome 115 students who are pursuing a Bachelor of Science in Artificial Intelligence. They come from 25 countries, with Emiratis making up about a quarter of the cohort, and are joining 300 new master's and PhD students also starting this academic year. An orientation day was held on Wednesday to welcome the new students, with classes starting on August 18. Provost Timothy Baldwin told The National the undergraduate programme offers two tracks, engineering and business. 'There's a lot of flexibility for students to make a decision about exactly what path they want to take,' he said. 'The engineering stream is more focused on the core technical skills ... AI skills such as natural language processing. 'The business stream is more about that periphery, entrepreneurial, finance and communication skills, but all very much within an AI context.' Though several universities in the UAE already offer a bachelor's programme in AI, MBZUAI is the only institution in the country dedicated entirely to AI research and education. The university was launched as part of UAE's strategy to become a global centre for AI development and innovation. The intake follows a highly competitive process, with the university receiving more than 2,000 undergraduate applications and only about 5 per cent accepted. Students also benefit from partnerships the university has with the industry, including companies such as Microsoft. Emirati student Sana Al Ali, 17, is pursuing the business track so she can combine her interest in entrepreneurship with an area of technology. 'More locals are trying to be in the business field and I really want to pursue business because it has been my dream for a while,' she said. 'This university offers a lot of opportunities … they're choosing the best of the best, and they want people who are smart and intellectual to represent the university and keep the high standard.' She said MBZUAI's connections with companies and its internship opportunities would help her gain practical experience alongside her degree. 'This will allow me to see how the real world is, and I can partially work as well and continue my master's degree,' she said. Ms Al Ali hopes to launch her own business one day. 'I want people to see that Emiratis can be part of big industries globally," she said. Jordanian student Islam Aldaraghmeh, 18, who has enrolled in the engineering track, said he wants to focus on artificial general intelligence (AGI), systems designed to think and act like humans. 'I think AI chatbots are revolutionary, I see a lot of potential [in the difference] it can make in the education sector,' he said. 'I believe it's going to solve a huge problem that I have also faced, which is the unavailability of AI tutors. Tutors are expensive and not everyone has access to them.' His interest in AI began while preparing for Jordan's National Maths Olympiad, where he used AI tools to help him train and went on to win a gold medal. 'My main goal with pursuing this degree is to understand AI on a much deeper level, a much more intuitive level,' he said. "I want to explore how to dissect AI like a surgeon. "I joined AI because I'm fascinated about intelligence in general. For example, we study physics to understand the world around us. I study AI to understand intelligence and implement it.' He said his longer-term aim is to set up a research team to develop new algorithms. The demand for AI professionals has surged globally in recent years, driven by the rapid deployment of machine learning, automation and data-driven systems across sectors. A Future of Jobs Report 2025 by the World Economic Forum found that 40 per cent of employers globally are expected to reduce their workforce where AI can automate tasks by 2030. Technology is projected to the most disruptive force in the labour market, with trends in AI and information-processing technology expected to create 11 million jobs, while displacing nine million others at the same time.
Zawya
3 hours ago
- Zawya
W Energy Brings Advanced AI Energy Forecasting Back to Australia in Partnership with Simble
SYDNEY, AUSTRALIA - Media OutReach Newswire - 14 August 2025 - Australian clean energy innovation takes a leap forward as W Energy, a new energy technology company, teams up with long-established ASX-listed Simble Solutions (ASX: SIS) to deploy AI-driven energy forecasting and management solutions nationwide. Simble has also formally engaged Yongxin Sun, W Energy's founder and former AI Clean Energy GLOBAL lead, to provide technical support and strategic guidance. Mr. Sun combines expertise in finance, large-scale energy project modelling, and applied AI technology. W Energy's AI forecasting platform originated in Australia to enhance solar and battery performance predictions while integrating financial modelling for investors and operators. Due to limited local data early on, the system was trialed in Southeast Asia across Cambodia, Vietnam, and the Philippines. These deployments delivered diverse climate and grid datasets, mature near real-time forecasting capabilities, and proven commercial benefits such as reduced investment risk and optimized storage dispatch. Now commercially mature, W Energy and Simble will begin rolling out projects in New South Wales, expanding to Queensland and Victoria. The partnership leverages W Energy's predictive AI for generation, demand, and pricing optimization alongside Simble's established market presence and energy monitoring tools. Together, they will serve commercial buildings, industrial precincts, and regional grid networks, supporting virtual power plants, dynamic pricing response, and grid resilience. This collaboration aligns with Australia's energy transition goals, using AI to boost renewable penetration and grid flexibility. The platform integrates real-time IoT sensor data with historical weather and market information, applies adaptive algorithms for storage dispatch, and incorporates financial scenario modelling to assess project returns under varying conditions—all secured to comply with Australian data standards. Key benefits include higher forecasting accuracy across diverse weather conditions, direct integration of financial metrics into operational decisions, and scalability from small commercial sites to utility-scale assets. Potential applications range from energy cost reductions for commercial customers to enhanced stability in high-renewable regions. W Energy and Simble plan initial deployments in NSW commercial and industrial sites while collaborating with universities and research institutions to refine the AI platform using local data, further improving its accuracy, adaptability, and security. Hashtag: #WEnergy The issuer is solely responsible for the content of this announcement. W Energy
