GameStop surges with new Nvidia chips | Wilnesh News

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OPEC+ extends production cuts
OPEC and its allies agree Extend official crude oil production cuts Entering 2025, demand is sluggish. Smaller groups in the alliance, including Saudi Arabia and Russia, will also voluntarily cut production by 1.7 million barrels per day. Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman said that OPEC+ hopes Specific interest rate cut before considering the potential impact on energy demand. In addition, oil giant Saudi Aramco has also begun Selling stocks in large quantities Raise approximately $12 billion to fund the country’s continued economic diversification.

New AI chip Rubin
Nvidia revealed its Next generation artificial intelligence chip, Rubin, launched the Blackwell model just three months later. The acceleration of development is accompanied by intensified competition. AMD and Intel Like the tech giants Microsoft, Google and Amazon Invest in your own AI chip design. Rubin is expected to be launched in 2026 and will be equipped with a new graphics processing unit, central processing unit and network chip.

Dow Jones records best one-day performance of 2024
this Dow Jones Industrial Average used to be Up more than 550 points After the Fed Preferred measures to cool inflation. sales force and UnitedHealth Provided upward momentum for the Dow Jones Index. this S&P 500 Index 0.8% was added, while Nasdaq Index Reduce to Nvidia Tesla refused. The S&P 500 and Nasdaq fell this week, snapping a five-week winning streak. For the month, the Dow Jones rose 2.3%, the S&P rose 4.8%, and the Nasdaq rose 6.8%. With inflation in line with economists’ expectations, the 10-year Treasury yield Ministry of Finance Dropped to 4.501%.

GameStop surges again
shares game station Robinhood shares rose more than 19% in 24-hour trading Sunday night on speculation. Kisgier could have occupied an important position among video game retailers. Gill, who goes by DeepF on Reddit and Roaring Kitty on YouTube and shares, valued at $115.7 million. This post has not been independently verified by CNBC.

Kospi surges on oil discovery
Korean Cospi South Korean President Yoon Seok-yeol announced that the stock price rose 1.8% Potentially huge oil and gas reserves Natural gas from the east coast can meet the country’s natural gas needs for 29 years and oil needs for 4 years. Hong Kong’s Hang Seng A private survey showed shares were up 2.32% Manufacturing activity expands in China Reaching the fastest speed in the past two years. After a brief improvement in data, the CSI 300 Index in mainland China fell slightly, down 0.14%. Japan’s Nikkei 225 Index Up 1.3%, Australia S&P/ASX 200 Index Add 0.78%.

(PRO) Buy Volatility
Have you ever wondered when institutional investors say “Buy Volatility” or “Sell volatility?” Is this something retail investors can do? CNBC’s Michael Khouw explains it all.

Indian Prime Minister Modi is about to Wins rare third termwhile the South African ruling African National Congress defeated Its 30-year parliamentary majority. British Prime Minister Rishi Sunak looks set to lose next month’s election.

As significant as these elections are, there is one that will have real global resonance: the election of the leader of the free world in the world’s largest economy. Last Thursday, a New York jury convicted the former president Donald Trump Committed all 34 felonies and falsifying business records in his criminal hush-money trial.

The jury’s decision immediately caused shock Trump Media Technology Group shares, among which Down 15% in after-hours trading. Trump owns about 65% of the company, with the stake worth about $5.7 billion. Friday, Share price closed down 5%, valuing the owners of Truth Social at $8.7 billion. This valuation is based solely on Trump’s brand and personal following.

According to the company, the majority of its 621,000 shareholders are retail investors. The company’s first filing as a public company showed a first-quarter loss of $327.6 million on revenue of less than $1 million.

“This is a meme stock with no fundamentals,” Art Hogan, chief market strategist at B Riley Wealth, told Reuters. “The valuation of the stock has always been a question mark. It certainly hasn’t made any money and is trading at almost At an unfathomable level.”

Big Trump donors dismissive of verdict. Ahead of his decision, Blackstone Group CEO Steve Schwarzman told Axios he plans to vote for Trump, hedge fund executive and billionaire Bill Ackman may also support TrumpAccording to people familiar with the matter.

While the verdict had little impact on the wider market, it did make global headlines and spark heated discussions on social media. After all, Trump’s legal troubles won’t stop him from running for president, and if his first term is any indication, world leaders will be wary.

During his presidency, a trade war broke out with China Turkish lira unstable and tweeted warning OPEC “Oil prices are getting higher and higher“His comments are often market-moving events.

As earnings season ends, attention will turn to May non-farm employment data Friday’s report will shed light on the health of the labor market and economy.

But strategists expect volatility to intensify in the coming months as the 2024 election approaches and could be a significant mover for the market. “Without near-term catalysts, stocks will continue to be ‘choppy,'” Wells Fargo equity analyst Christopher Harvey wrote in a note Friday. “Politics remains an unknown factor.”

— CNBC’s Ruxandra Iordache, Natasha Turak, Brian Schwartz, Alex Harring, Sarah Min, Rebecca Picciotto, Annika Kim Constantino, Shreyashi Sanyal and Yun Li contributed to this report.