Michael Burry, the investor made famous by “The Big Short”, is maintaining his bearish stance on markets despite the S&P 500 pushing to record highs, warning that the rally could still end in a sharp reversal similar to the 1987 stock market crash. “I continue to believe it is possible we are near a major top, and possible a 1987-type fall, but the S&P 500 making new highs likely will bring new
Advanced Micro Devices (AMD) has agreed to acquire Canadian startup Taalas as the chipmaker broadens its artificial intelligence portfolio beyond graphics processing units and strengthens its capabilities in AI inference. Toronto-based Taalas develops specialised inference chips that are customised, or hard-wired, for individual AI models rather than serving as general-purpose processors. “A
Private sector hiring slowed in July, with employers adding fewer workers than expected as job growth remained concentrated in healthcare, according to payroll processor ADP. Private companies added a seasonally adjusted 44,000 jobs during the month, down from a downwardly revised 95,000 in June and well below economists' expectations for 75,000 new positions. The services sector accounted f
United States benchmark averages finished lower on Thursday (Friday AEST) as investors assessed another wave of corporate earnings while monitoring developments surrounding potential peace talks between the United States and Iran. The Dow Jones Industrial Average dropped 464.0 points, or 0.9%, to 53,885.1. The S&P 500 fell 13.5 points, or 0.2%, to 7,710.0, while the Nasdaq Composite edged down
Airbnb shares surged 9% in after-hours trading on Thursday (Friday AEST) after the accommodation platform reported stronger-than-expected second-quarter earnings and revenue, while issuing an upbeat forecast for the current quarter. The company posted earnings of US$1.37 per share, beating analysts' expectations of $1.26. Revenue rose to $3.61 billion, ahead of forecasts for $3.58 billion. S
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United States job openings declined in June, driven by a sharp drop in vacancies across the healthcare and social assistance sector, while stronger hiring and steady layoffs pointed to a labour market that remained resilient. The number of available positions, a key measure of labour demand, fell by 178,000 to 7.359 million at the end of June, according to the Labor Department's Job Openings an
Uber shares declined on Wednesday after the company issued a weaker-than-expected outlook for third-quarter bookings and earnings, overshadowing revenue growth and a second-quarter result that broadly matched analyst expectations. Shares closed 5.3% lower following the earnings release. Uber reported earnings per share of 81 cents, compared with expectations of 80 cents, while revenue came i
SpaceX reported a sharp increase in quarterly revenue and significantly narrower operating losses in its first earnings report since listing on the stock market, driven by strong growth across its Starlink satellite internet and artificial intelligence businesses. The company posted a loss of 9 cents per share, compared with expectations for a 23-cent loss, while revenue rose to US$7.81 billion
United States manufacturing activity climbed to its highest level in more than four years in July, supported by strong order growth and a rebound in factory employment, although the conflict in the Middle East continued to pressure supply chains and keep input costs elevated. The Institute for Supply Management (ISM) manufacturing survey showed responses remained largely negative, with the U.S.
Palantir Technologies lifted its full-year revenue forecast after reporting stronger-than-expected second-quarter results, driven by continued demand for its artificial intelligence-powered data analytics platform. The company's shares surged 13.7% in extended trading after it posted earnings that exceeded analysts' expectations. Palantir reported earnings per share (EPS) of $0.41, ahead of
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