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S&P 500, Nasdaq Composite Drift Sideways as $3.2 Trillion Shifts From Chip Stocks to Magnificent Seven
The S&P 500 has traded in a tight range for months. Beneath that calm surface, $3.2 trillion has rotated between the Magnificent Seven and chip stocks outside Nvidia. This massive shift has largely canceled itself out at the index level. Traders are watching closely as earnings season could finally break the stalemate. The Nasdaq Composite…
CXMT’s $8.6 Billion IPO to Generate at Least $41 Million in Fees for Chinese Investment Banks
CXMT’s $8.6 billion Shanghai IPO is set to generate substantial fees for underwriters. The memory chipmaker priced shares at 8.66 yuan, or $1.28 apiece. That values CXMT’s business at roughly $85.2 billion upon its Shanghai Star Market debut. CXMT’s offering surpasses SMIC’s 2020 record as the largest chip IPO in China. Subscriptions opened Thursday, July…
Rotork (LSE: ROR) Agrees to £4.1 Billion Takeover by ABB (SWX: ABBN) in Major UK M&A Deal
On 16 July 2026, ABB (SWX: ABBN) agreed to acquire Rotork (LSE: ROR) in a £4.1 billion all-cash deal, making it one of the largest UK industrial acquisitions announced this year. The offer gives Rotork shareholders a substantial premium while expanding ABB’s industrial automation and smart flow control business. It also comes as overseas buyers…
Trump’s DNI Pick Jay Clayton Refuses to Say Biden Won 2020 Election at Hearing
Jay Clayton, Trump’s pick for director of national intelligence, refused to say Biden won 2020 at his Senate confirmation hearing on July 15, prompting Democrats to call his testimony lacking credibility.
SBS Draws 17M Viewers for World Cup 2026, Secures Ratings Win on $30M Deal
SBS draws 17 million viewers for FIFA World Cup 2026 on $30M rights deal. Australia’s match vs Paraguay peaked at 4.86 million, with average audience of 1.3 million per game.
Gold Price Today: MCX Gold Falls 0.45% to ₹1,41,205 as Brent Crude Slips to $84.77
Gold price on MCX slipped 0.45% Thursday, trading near ₹1,41,205 per 10 grams. That decline came even as Brent crude eased slightly to $84.77 a barrel. Gold has now fallen for a second straight session amid mixed inflation signals. Fresh US airstrikes against Iran kept oil prices elevated through Thursday’s trading. Spot gold globally slipped…
Dogecoin Price Rises as Binance Sees $1.2 Billion in Memecoin Outflows Amid Cooling U.S. Inflation
On 16 July 2026, Dogecoin moved higher even as Binance recorded $1.2 billion in memecoin outflows, a combination that caught many traders off guard. The rally followed cooler U.S. inflation data, which improved market sentiment and increased demand for risk assets. Many expected continued selling to drag meme coins lower, but DOGE went in the…
FTSE 100 Today: UK Stocks Slip 0.37% as Iran Tensions Overshadow Stronger-Than-Expected GDP Growth
The FTSE 100 fell 0.37% Thursday morning, extending Wednesday’s modest decline. That drop came despite UK GDP data beating expectations by a wide margin. The economy grew 0.7% in the three months to May, well above forecasts of 0.5%. Annual growth accelerated to 1.3%, its fastest pace in 13 months. Fresh Iran threats overshadowed that…
Nvidia (NASDAQ: NVDA) Partners With Fanuc and Yaskawa to Accelerate AI-Powered Robotics Development
Nvidia confirmed Thursday, July 16, 2026, that it’s partnering with Japanese robotics giants Fanuc and Yaskawa Electric to accelerate AI-powered robotics development. CEO Jensen Huang announced at a media event in Tokyo, framing physical AI as the technology’s next major frontier. The move expands Nvidia’s Cosmos Coalition, a growing alliance built around its robotics software…