As the stock market is about to open, investors should note these important updates:
WTI Oil Prices Continue to Decline
West Texas Intermediate (WTI) oil prices have been falling, now down nearly 2% following a drop of more than 3% on Monday. This decline is due to OPEC+’s recent decision to gradually phase out voluntary production cuts starting in October. Analysts suggest that this decision could lead to increased oil output from OPEC+ members, putting further pressure on prices.
Intel’s New AI Chips Boost Shares
Intel’s stock has risen by 1.7% in premarket trading after the company introduced new AI processors for data centers. This move is part of Intel’s strategy to compete with Nvidia and AMD in the AI sector. Intel’s CEO highlighted the transformative impact of AI on technology and the global economy.
Microsoft and Hitachi Announce AI Partnership
Microsoft and Hitachi have unveiled a multibillion-dollar partnership aimed at accelerating the use of generative AI. Hitachi will incorporate Microsoft’s AI products into its Lumada Solutions business and train over 50,000 professionals in advanced AI skills. Despite this, Microsoft’s shares have seen a slight decline in premarket trading.
E*Trade May Ban Keith Gill
ETrade is considering barring Keith Gill from using its platform due to concerns about potential stock manipulation. Known for his significant impact on GameStop’s stock, Gill recently shared a screenshot of his large GameStop holdings, causing a surge in the stock’s price. ETrade is evaluating whether his social media activities constitute manipulation.
Bath & Body Works Shares Drop Despite Positive Earnings
Despite reporting better-than-expected first-quarter earnings, Bath & Body Works shares have fallen by 8% in premarket trading. The retailer’s net sales showed a slight year-over-year decline, but profits increased significantly, surpassing analyst expectations.
