cnbc_topnews

SoftBank jumps 10% as Asia tech stocks track Wall Street AI rally

📰 source: cnbc_topnews · 💼 business

asian tech stocks surged wednesday after a strong wall street rally, with softbank jumping over 10%. tokyo electron added 3.64%, advantest rose 7%, and kioxia gained 6.34%. in south korea, sk hynix jumped 6.9%, samsung electronics added 4%, and seoul semiconductor popped 7.6%.

ortus advisors' strategist andrew jackson said the latest rally in u.s. semiconductor stocks reinforced the bullish outlook for asian ai names, pointing to chipmakers and infrastructure suppliers. he expects softbank to extend gains after arm holdings, its majority-owned chip design subsidiary, jumped overnight on optimism over ai data center royalties and cpu development plans.

the u.s. rally was driven by strong earnings and easing oil prices, with the s&p 500 and dow at fresh records. the nasdaq composite popped 2.59% to 26,584.99, as palantir rallied 29%. treasury secretary scott bessent said washington and tehran could reach a deal within days to reopen the strait of hormuz, easing energy supply worries.

why it matters: softbank's 10% surge and regional chip gains show asian markets betting on ai-driven earnings, with arm's data-center outlook supporting the rally.

source: cnbc_topnews
sentiment: +0.80 · impact: 0.60

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

Read more

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