Morning Brief Gold hits $4,000, Nvidia invests in Musk’s xAI, Fed Minutes ahead
US stocks rebound after a rare pullback, with futures pointing higher ahead of the Federal Reserve’s September meeting minutes. Gold surges past $4,000 an ounce for the first time as billionaire investor Ray Dalio calls it a stronger haven than the dollar, citing echoes of the 1970s inflation era. Nvidia (NVDA) reportedly invests up to $2B in Elon Musk’s xAI as the startup raises $20B to fund its Colossus 2 supercomputer project. The move follows OpenAI’s blockbuster AMD (AMD) deal, intensifying the AI arms race. Meanwhile, investors await Fed commentary for clues on future rate cuts amid a data vacuum caused by the government shutdown. In trending tickers, Verizon (VZ) partners with AST SpaceMobile (ASTS) to launch satellite-to-phone service, Penguin Solutions (AVCTQ) sinks on weak sales guidance, and Jefferies (JEF) slides after revealing $161M exposure to bankrupt auto supplier First Brands Group.
Takeaways:
-
Gold tops $4,000 as investors seek safety from inflation and a weak dollar
-
Nvidia to invest up to $2B in Elon Musk’s xAI, fueling AI competition
-
Fed Minutes expected to show division on pace of rate cuts amid shutdown
-
Verizon expands space partnership, Jefferies discloses bankruptcy exposure
Yahoo Finance's flagship show, Morning Brief, is your go-to source for smarter investing and market moves.
Thoughts? Questions? Fan mail? Please email us at yfpodcasts@yahooinc.com.
Learn more about your ad choices. Visit megaphone.fm/adchoices