cnbc_topnews

Investors scored on Iran war's oil market boom. Staying long the trade will get trickier

📰 source: cnbc_topnews · 💼 business

energy sector earnings exploded on the back of the iran war, and investors who bought in scored huge gains. exxonmobil's quarterly profit doubled to $14.5 billion; chevron's net income rose almost 400%. refiners did even better — valero earnings were up over 400%, and chevron's refining segment jumped 500% on high fuel prices.

but experts say sitting on those gains is risky. oil prices have seesawed wildly — from nearly $120 a barrel in march to $72, now back under $85. geopolitics, not fundamentals, drove the trades. as dave nadig of etf.com put it, 'you are not investing; you are gambling.' he expects most individual investors get shellacked in such volatility.

some pros see better spots: cfra is underweight energy, sees wti at $60, and prefers natural gas for ai-driven data center demand. others point to uranium/nuclear etfs as a longer-term play. for now, the easy money may be gone.

why it matters: war-driven oil rally rewarded early buyers, but volatility and geopolitics make holding risky for long-term investors.

source: cnbc_topnews
sentiment: +0.10 · impact: 0.70

Surprise fall in US jobs last month as slow summer continues

📰 source: bbc_business · 💼 business us jobs fell by 23,000 last month, against forecasts for an 80,000 gain, with the bureau of labor statistics also revising down may and june payrolls by a combined 103,000. the unemployment rate still dipped to 4.1% from 4.2%, as labor

Homes are selling below asking in 38 of the 50 biggest U.S. cities—if you can afford one

📰 source: cnbc_topnews · 💼 business homes sold for less than their asking price in 38 of the 50 largest u.s. housing markets in june, per redfin. the biggest discounts hit florida and texas: miami and west palm beach averaged nearly 5% below asking, while houston, austin, tampa, dallas, san antonio,

China is gaining ground in AI. But the U.S. still has a major advantage

📰 source: cnbc_topnews · 💼 business hugging face ceo clément delangue told cnbc china is clearly dominating on open models and could start dominating at the frontier by end of this year or next. chinese models are closing the gap with u.s. frontier systems despite limited access to cutting-edge compute. beijing-based

US strikes $1.2bn deal to pay German firm to halt offshore wind projects

📰 source: bbc_business · 💼 business rwe will abandon its offshore wind projects in the us after accepting a $1.2bn payout from the department of the interior. the german energy firm said it will reinvest the money into gas projects, including $900m for an lng export terminal in louisiana. rwe will

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Surprise fall in US jobs last month as slow summer continues

Homes are selling below asking in 38 of the 50 biggest U.S. cities—if you can afford one

China is gaining ground in AI. But the U.S. still has a major advantage

US strikes $1.2bn deal to pay German firm to halt offshore wind projects