Global shares jump on AI trade revival despite SpaceX, AMD setbacks – business live
📰 source: theguardian_business · 💼 business
global shares jumped on tuesday as investors piled back into the ai trade, even as spacex and amd stumbled. japan's nikkei rose 3.6%, south korea's kospi climbed 4.1%, and china's csi gained 1.2%. wall street hit record highs, helped by strong results from palantir and caterpillar, while oil prices fell on hopes for a peace deal in the middle east.
spacex shares dropped 7.5% after its first earnings as a public company showed a $541m loss and heavy capital spending. amd fell 8.8% after hours on growth concerns. but palantir jumped 29.5% on an 'otherworldly' outlook, and caterpillar raised guidance, rebuilding confidence in the ai capex cycle.
brent crude dipped below $80 a barrel, with reports of a possible interim deal between iran and oman to reopen shipping flows. the us hopes for an announcement as soon as wednesday, according to axios.
why it matters: ai trade rebound lifts global equities as spacex and amd setbacks fail to dent optimism, with oil peace hopes adding support.
source: theguardian_business
sentiment: +0.60 · impact: 0.70