American Bitcoin, though, stuck with its crypto strategy and has seen its shares slump more than 95% from their peak. That’s erased more than $600 million from the market value of Eric Trump’s stake over the past 10 months, according to Bloomberg calculations, and forced the company this week into a 1-for-15 reverse stock split to maintain its Nasdaq listing. On Wednesday, its stock price hit an all-time low.
Wall Street opened mixed as gains in chip stocks supported the S&P 500 and Nasdaq, even as renewed US-Iran tensions kept sentiment cautious. The Dow slipped at the open, reflecting geopolitical uncertainty, while tech-led strength helped broader indices stay resilient amid concerns over prolonged conflict and potential market volatility.
Hedge funds have recently faced substantial setbacks, primarily due to widespread trades within unstable markets. Systematic managers lost about 25% of their returns for the year, significantly affecting their overall performance. This downturn arose from substantial bets on U.S. and Asian equities, both of which faced dramatic price fluctuations. Additionally, fundamental managers also reported losses after withdrawing from the saturated tech sector.
Global markets show mixed early trading as oil prices rise modestly. Fresh attacks between Iran and the United States threaten a fragile regional truce. PepsiCo shares declined after reporting stronger revenue but weaker North American demand. European and Asian markets experienced varied movements throughout the trading day. Upcoming economic reports will provide further insights into the current financial landscape.
The Sensex ended higher as select BSE 200 stocks touched fresh 52-week highs. FSN E-Commerce Ventures, Titan, Sun Pharmaceutical Industries and Lenskart Solutions led the momentum.
Tata Consultancy Services announced an interim dividend of Rs 12 per share for shareholders. The IT major reported a 5% year-on-year profit increase for the first quarter. Its revenue from operations also saw a significant 14% rise during the same period.
HSBC has lowered its average gold price forecasts for 2026 and 2027. This adjustment stems from expectations of a stronger U.S. dollar and a hawkish Federal Reserve. The bank anticipates gold trading within a specific range for the remainder of 2026. Central bank purchases have moderated, though long-term diversification offers support. Despite forecast reductions, downside risks for gold appear limited.
Cummins India is showing a strong bullish setup with a higher high–higher low pattern, robust support near its 50-day EMA and signs of short covering in derivatives. Analysts recommend a Call Ratio Spread strategy for the July expiry, with the stock expected to remain positive as long as it holds above Rs 5,400.
Gold and silver prices extended losses for a fourth straight session on Thursday, pressured by renewed geopolitical tensions, higher oil prices and concerns over inflation and interest rates. Analysts expect continued volatility and advise investors to accumulate precious metals gradually during the ongoing correction.
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