Latest news with #AI-related
Yahoo
a day ago
- Business
- Yahoo
Gold prices retreat as investors await key US inflation data
Gold prices edged lower on Friday, on track for a nearly 2% weekly decline, as traders positioned themselves ahead of a closely watched US inflation report. Gold futures were down 0.7% to $3,320.20 per ounce at the time of writing on Friday morning, while the spot gold price slipped 0.1% to $3,295.14 per ounce. The move came as investors awaited the release of the personal consumption expenditures (PCE) price index, the Federal Reserve's preferred measure of inflation, later in the day. Technical dynamics also contributed to the pullback, according to Kelvin Wong, senior analyst at Oanda Asia Pacific. 'The price action in gold has twice failed to break above the key near-term resistance level of $3,328 — both in the US session yesterday and again early in the Asian session today,' he said. Read more: What's behind the surge in AI-related lawsuits? Still, the broader investment case for gold remains intact. The precious metal's haven appeal was boosted by renewed uncertainty over Donald Trump's trade agenda, after a US federal appeals court on Thursday granted the US president a temporary reprieve from a ruling that threatened to upend much of his planned tariffs. Goldman Sachs (GS) this week reaffirmed its view that bullion, alongside crude oil, remains a key inflation hedge for long-term portfolios. Oil prices inched higher on Friday but remained on course for a second straight weekly decline, pressured by expectations of increased supply from OPEC+ and renewed uncertainty surrounding US trade policy. Brent crude futures climbed 0.1% to $63.46 a barrel, while West Texas Intermediate futures rose 0.2% to $61.06 a barrel. However, both contracts have fallen 1.3% so far this week. The pressure on prices stemmed largely from concerns over rising output. Investors are anticipating that the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) will move forward with another production increase when eight of its members meet on Saturday. Analysts expect prices to stay within recent ranges in the short term, before potentially easing into the high $50s by the end of the year. Meanwhile, in the US, oil markets were further unsettled after a federal appeals court on Thursday temporarily reinstated tariffs introduced by Trump. The move reversed a trade court's decision a day earlier that had ordered an immediate block on the most extensive of the duties. Read more: Best cash-saving deals to beat inflation The legal back-and-forth sent oil prices tumbling more than 1% on Thursday, as traders recalibrated expectations in light of continued policy uncertainty. Analysts warned that further volatility is likely as the dispute winds through the courts. Since Trump unveiled his so-called "Liberation Day" tariffs on 2 April, oil prices have shed more than 10%. The pound held steady against the dollar on Friday, trading at $1.3479, as investors adopted a cautious stance ahead of the release of the US personal consumption expenditures (PCE) price index. Stocks: Create your watchlist and portfolio The US dollar index ( which measures the greenback against a basket of six currencies, rose 0.3% to $99.53, bolstered by safe-haven demand and anticipation of the inflation print. 'Sterling is on track for its fourth monthly rise on the trot versus the dollar, its longest monthly winning streak in over two years with a cumulative gain of over 10%,' said George Vessey, lead FX and macro strategist at Convera. 'Historically, GBP/USD has suffered a down month following such an aggressive move higher. But we note that June exhibits no meaningful seasonality trend, and with dollar demand tepid amidst ongoing uncertainty regarding the US trade story and fiscal policy stability — the pound could extend higher into the summer.' Vessey added that Convera's upside scenario — which sees sterling reaching $1.40 by year-end — assumes continued weakness in the US currency driven by 'the erosion of confidence in US policy making' and 'deteriorating US economic data'. However, he cautioned that such a rally would also require a resilient UK economy and a more hawkish stance from the Bank of England, making forthcoming inflation data 'crucial'. 'In the very near term though, month-end flows could create some temporary selling pressure for sterling, given its strong month-to-date performance across both an aggregate and cross-border basis,' he said. In other currency moves, the pound was higher against the euro (GBPEUR=X), trading at €1.1886 at the time of writing. The FTSE 100 (^FTSE) was up 0.6% at 8,768 points. For more details, check our live coverage in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
a day ago
- Business
- Yahoo
New York Times, Amazon Unveil AI Content Licensing Deal
In its first AI licensing deal, The New York Times Company and giant Amazon have announced a multi-year agreement that will bring Times editorial content to a variety of Amazon customer experiences in a move the partners said broadens the companies' existing relationship. The idea is to 'bring additional value to Amazon customers and bring Times journalism to wider audiences,' the companies said. More from Deadline Netflix Co-Founder Reed Hastings Joins Board Of AI Firm Anthropic Amazon's Head Of Unscripted Series Jenny Falkoff Joins Netflix Darren Aronofsky's AI-Focused Studio Primordial Soup Sets Strategic Partnership With Google DeepMind Under the new deal, Amazon is licensing editorial content from The New York Times, NYT Cooking, and The Athletic 'for AI-related uses.' This will include real-time display of summaries and short excerpts of Times content within Amazon products and services, such as Alexa, and training Amazon's proprietary foundation models. The collaboration will make The New York Times's original content more accessible to customers across Amazon products and services, including direct links to Times products, 'and underscores the companies' shared commitment to serving customers with global news and perspectives within Amazon's AI products.' As AI firms suck up vast quantities of data to train their so-called Large Language Models publishers have taken different tacks, some inking deals some seeking the courts. The NYT is suing giant OpenAI and its major investor Microsoft for copyright violation in its use of content. A judge ruled in March that the suit can proceed. Copyright is the issue and 'fair use,' a legal doctrine that allows use of copyrighted material in certain ways and in certain cases. AI companies have often appeared game to compensate publishers on their own terms but are seeking loser restrictions on copyright rules in order to grown and, they said in recent testimony, compete globally. Copyright owners including the Hollywood creative community have pushed back on that, insisting that the laws be upheld. It's not clear if or how turmoil at the U.S. Copyright Office will impact this. A federal judge yesterday declined to issue an order that would immediately prevent the Trump administration from firing the register of copyrights and head of the office, Shira Perlmutter Best of Deadline Everything We Know About Netflix's 'The Thursday Murder Club' So Far 2025 TV Series Renewals: Photo Gallery 2025-26 Awards Season Calendar: Dates For Tonys, Emmys, Oscars & More Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
a day ago
- Automotive
- Yahoo
Can Tesla sales recover in Europe amid Elon Musk backlash? Yahoo Finance readers have their say
Tesla (TSLA) shares rose this week, as CEO Elon Musk confirmed his exit from Washington DC, despite data showing that the electric vehicle (EV) company's sales in Europe nearly halved last month. Musk said in a post on X on Wednesday night that his scheduled time as a special government employee is coming "to an end". "I would like to thank President [Trump] for the opportunity to reduce wasteful spending," Musk wrote on X, referring to his work with the Department of Government Efficiency (DOGE). This came a day after Musk said in a CBS interview, due to be aired in full this weekend, that he believed Trump's tax bill "increases the budget deficit ... and undermines the work that the DOGE team is doing". Musk has faced backlash over his role heading up DOGE and overseeing cuts to government agencies, with protests having been held at Tesla (TSLA) facilities around the world. Tesla sales have continued to fall amid the backlash against the billionaire. Figures from the European Automobile Manufacturers' Association (ACEA), released on Tuesday, showed that sales of Tesla (TSLA) vehicles dropped by 49% to 7,261 units in April, compared with the same month last year. The EV maker's market share declined to 0.7% from 1.3% in April of 2024. ACEA data has shown Tesla's (TSLA) sales in Europe dropping since the start of the year, even as electric car sales grew in the region. Stocks: Create your watchlist and portfolio In April, Tesla (TSLA) reported global deliveries of 336,681 for the first quarter, which missed expectations of 390,342, according to Bloomberg consensus estimates. This made it the worst quarter for deliveries in almost three years. Russ Mould, investment director at AJ Bell (AJB.L), said that given the fall in Tesla's (TSLA) European sales "came against a backdrop of a meaningful increase in European electric vehicle sales more broadly, it suggests the brand damage caused by Elon Musk's political interventions may be lasting". Earlier this week, we asked Yahoo Finance UK readers if they believed that Tesla (TSLA) sales in Europe could recover amid the backlash against Musk. We received 309 votes, with 18% of respondents believing that sales could recover, while 75% disagreed and 7% were undecided on the matter. Read more: What's behind the surge in AI-related lawsuits? UK 'bargain' stocks that have outperformed the market long-term Odds of more Bank of England interest rate cuts fall as food inflation risesSign in to access your portfolio
Yahoo
a day ago
- Business
- Yahoo
Raymond James Lifts Coherent Corp. (COHR)'s Stock Price Target to $96, Maintains Strong Buy Rating
Raymond James analyst Simon Leopold on Wednesday raised Coherent Corp. (NYSE:COHR)'s stock price target to $96 from $91, while maintaining the Strong Buy rating for its shares. The revision followed Coherent Corp. (NYSE:COHR)'s Analyst and Investor Day earlier in the day, in which the company shared its long-term growth targets that surpassed both Raymond James' and the broader market's expectations. A row of precision industrial lasers in action, cutting the most intricate of shapes. Coherent Corp. (NYSE:COHR)'s management outlined its goals, such as aiming for a gross margin greater than 42% and an operating margin above 24%, indicating that by 2028, the company could achieve an EPS of around $8-9, which will be a substantial increase from forecasts of under $4 in fiscal 2025. Considering these ambitious targets, Raymond James lifted the stock's target price to account for the anticipated gross margin expansion and growth in the industrial laser sector. Moreover, on May 7, Coherent Corp. (NYSE: COHR) reported impressive results for the third quarter of fiscal 2025, with revenue increasing 24% year-over-year to $1.5 billion, driven by strong demand for AI-related data centers. Earnings per share were posted at $0.91, beating estimates by five cents. While we acknowledge the potential of COHR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than COHR and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: ChatGPT Stock Advice: Top 12 Stock Recommendations and 10 Cheap Rising Stocks to Buy Right Now. Disclosure: None.
Yahoo
a day ago
- Business
- Yahoo
Gold prices retreat as investors await key US inflation data
Gold prices edged lower on Friday, on track for a nearly 2% weekly decline, as traders positioned themselves ahead of a closely watched US inflation report. Gold futures were down 0.7% to $3,320.20 per ounce at the time of writing on Friday morning, while the spot gold price slipped 0.1% to $3,295.14 per ounce. The move came as investors awaited the release of the personal consumption expenditures (PCE) price index, the Federal Reserve's preferred measure of inflation, later in the day. Technical dynamics also contributed to the pullback, according to Kelvin Wong, senior analyst at Oanda Asia Pacific. 'The price action in gold has twice failed to break above the key near-term resistance level of $3,328 — both in the US session yesterday and again early in the Asian session today,' he said. Read more: What's behind the surge in AI-related lawsuits? Still, the broader investment case for gold remains intact. The precious metal's haven appeal was boosted by renewed uncertainty over Donald Trump's trade agenda, after a US federal appeals court on Thursday granted the US president a temporary reprieve from a ruling that threatened to upend much of his planned tariffs. Goldman Sachs (GS) this week reaffirmed its view that bullion, alongside crude oil, remains a key inflation hedge for long-term portfolios. Oil prices inched higher on Friday but remained on course for a second straight weekly decline, pressured by expectations of increased supply from OPEC+ and renewed uncertainty surrounding US trade policy. Brent crude futures climbed 0.1% to $63.46 a barrel, while West Texas Intermediate futures rose 0.2% to $61.06 a barrel. However, both contracts have fallen 1.3% so far this week. The pressure on prices stemmed largely from concerns over rising output. Investors are anticipating that the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) will move forward with another production increase when eight of its members meet on Saturday. Analysts expect prices to stay within recent ranges in the short term, before potentially easing into the high $50s by the end of the year. Meanwhile, in the US, oil markets were further unsettled after a federal appeals court on Thursday temporarily reinstated tariffs introduced by Trump. The move reversed a trade court's decision a day earlier that had ordered an immediate block on the most extensive of the duties. Read more: Best cash-saving deals to beat inflation The legal back-and-forth sent oil prices tumbling more than 1% on Thursday, as traders recalibrated expectations in light of continued policy uncertainty. Analysts warned that further volatility is likely as the dispute winds through the courts. Since Trump unveiled his so-called "Liberation Day" tariffs on 2 April, oil prices have shed more than 10%. The pound held steady against the dollar on Friday, trading at $1.3479, as investors adopted a cautious stance ahead of the release of the US personal consumption expenditures (PCE) price index. Stocks: Create your watchlist and portfolio The US dollar index ( which measures the greenback against a basket of six currencies, rose 0.3% to $99.53, bolstered by safe-haven demand and anticipation of the inflation print. 'Sterling is on track for its fourth monthly rise on the trot versus the dollar, its longest monthly winning streak in over two years with a cumulative gain of over 10%,' said George Vessey, lead FX and macro strategist at Convera. 'Historically, GBP/USD has suffered a down month following such an aggressive move higher. But we note that June exhibits no meaningful seasonality trend, and with dollar demand tepid amidst ongoing uncertainty regarding the US trade story and fiscal policy stability — the pound could extend higher into the summer.' Vessey added that Convera's upside scenario — which sees sterling reaching $1.40 by year-end — assumes continued weakness in the US currency driven by 'the erosion of confidence in US policy making' and 'deteriorating US economic data'. However, he cautioned that such a rally would also require a resilient UK economy and a more hawkish stance from the Bank of England, making forthcoming inflation data 'crucial'. 'In the very near term though, month-end flows could create some temporary selling pressure for sterling, given its strong month-to-date performance across both an aggregate and cross-border basis,' he said. In other currency moves, the pound was higher against the euro (GBPEUR=X), trading at €1.1886 at the time of writing. The FTSE 100 (^FTSE) was up 0.6% at 8,768 points. For more details, check our live coverage in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
