Latest from RobotFX: important news impacting currency trading.
US equities edged slightly lower from record highs as uncertainty over Middle Eastern energy supplies weighed on the broader macroeconomic backdrop. The S&P 500, Nasdaq 100, and Dow Jones Industrial Average all traded just below unchanged.
Oil prices held their weekly gains amid reports that clashes between Israel and Lebanon continued, despite former US President Trump signaling support for a ceasefire—an outcome Iran has said is a prerequisite for reviving peace talks and reopening the Strait of Hormuz.
In premarket trading, JPMorgan and Procter & Gamble slipped, setting a weaker tone for traditional economic sectors. Nike and IBM were each down close to 3%.
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Software names also retreated, giving back part of yesterday’s rally as investors grew more cautious about the durability of AI-related spending. Alphabet fell 2% after announcing plans to issue $80 billion in equity to fund AI infrastructure, a notable shift from its recent pattern of steady share buybacks.
By contrast, AI beneficiaries in the hardware and infrastructure space outperformed. Hewlett Packard Enterprise (HPE) surged 30% following an AI-driven guidance upgrade, while Marvell Technology jumped 20% after Nvidia CEO Jensen Huang suggested it could become the next trillion‑dollar company.
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