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'GameStop in 2026': How silver market has morphed into meme trading
CNBC· 2026-02-03 01:42
Core Viewpoint - The recent volatility in silver prices has led to comparisons with meme stocks, raising questions about whether silver is trading on fundamentals or behaving like a meme asset [1][2]. Group 1: Market Dynamics - Silver prices have surged dramatically, with spot silver advancing nearly 4% to $4,852.76 per ounce and silver futures rising over 9% to $84 per ounce [3]. - Over the past month, silver has experienced 10 price movements of 5% or more in either direction, indicating significant volatility [3]. Group 2: Retail Investor Behavior - Individual investors invested approximately $171 million net into the iShares Silver Trust on January 26, nearly double the previous peak during the "silver squeeze" of 2021 [3]. - Retail enthusiasm for silver has been likened to the behavior seen in meme stocks, with a growing community on platforms like Reddit actively discussing and promoting silver investments [4]. Group 3: Market Sentiment - Market strategist Michael Antonelli highlighted the disconnect between silver's price movements and traditional valuation models, suggesting that retail trading behavior is driving the current market dynamics [2]. - The narrative surrounding silver has gained traction among retail traders, indicating a shift in market sentiment that resembles the "zeitgeist" seen in previous meme stock phenomena [2].
CNBC Daily Open: India and U.S. strike a trade deal, and markets shrug off precious metals rout
CNBC· 2026-02-03 01:03
U.S. President Donald Trump and Indian Prime Minister Narendra Modi shake hands as they attend a joint press conference at the White House in Washington, D.C., U.S., Feb. 13, 2025.The world's largest economy has struck a deal with the most populous nation.U.S. President Donald Trump announced Monday that America will lower so-called reciprocal tariffs on India to 18% from 25%. As part of the deal, New Delhi will "BUY AMERICAN" at "a much higher level," and stop buying oil from Russia. Instead, India will im ...
Asia markets rise on U.S.-India trade deal optimism; gold and silver rebound
CNBC· 2026-02-03 00:12
Asia-Pacific markets rose Tuesday after U.S. President Donald Trump said Washington and India had struck a trade deal and would immediately begin cutting tariffs on each other's goods. Trump added that Indian Prime Minister Narendra Modi had agreed to step up purchases of U.S. products, according to a Truth Social post on Monday following a call between the two leaders. Under the deal, India will also stop its purchases of Russian crude oil and instead buy more from the U.S., and potentially, Venezuela, Tru ...
Trump says DOJ should continue Fed Chair Powell probe 'to the end'
CNBC· 2026-02-02 23:24
U.S. President Donald Trump speaks on the day he announced the creation of a critical mineral reserve, in the Oval Office at the White House, Feb. 2, 2026.President Donald Trump on Monday said a criminal investigation into Federal Reserve Chairman Jerome Powell should continue, shrugging off a Republican senator's vow to block Trump's Fed chair replacement pick unless the probe is dropped.U.S. Attorney for Washington Jeanine Pirro, who is leading the unprecedented probe of the central bank chairman, should ...
Waymo announces $16 billion fundraising round
CNBC· 2026-02-02 22:32
Alphabet's self-driving car unit Waymo on Monday said it raised a $16 billion funding round that values the company at $126 billion "post-money."The new valuation is more than double from Waymo's last funding. That was a series C round of $5.6 billion at a $45 billion valuation, which closed in October 2024. Alphabet committed $5 billion in a multiyear investment to Waymo at the time."This milestone is built on a foundation of safety that is now statistically superior to human driving," Waymo co-CEOs Teke ...
Oracle's credit default swaps are plummeting as financing plan boosts investor confidence
CNBC· 2026-02-02 22:14
Oracle's 5-year credit default swaps tumbled 17% after the software vendor's plan to raise $50 billion in debt and equity bolstered investor confidence that the company will be able to avoid a credit downgrade as it funds its artificial intelligence buildout. "Equity financing significantly inhibits the downside for credit," Andrew Keches, a credit analyst at Barclays, wrote in a note to clients on Monday. Keches upgraded Oracle's debt to overweight and said that its CDS should compress further.Credit defau ...
Anti-ICE protesters should want more Palantir in government, CEO Karp says
CNBC· 2026-02-02 21:47
Core Insights - Palantir CEO Alex Karp advocates for the use of the company's tools by government agencies, suggesting that critics of U.S. Immigration and Customs Enforcement (ICE) should support Palantir's technology [2][3] - Karp emphasizes that Palantir's products align with Fourth Amendment data protections, indicating a commitment to privacy standards [2] - The company has faced criticism for its contracts with ICE, including a $30 million deal aimed at providing "real-time visibility" on individuals self-deporting [3] Government Engagement - Palantir's software is utilized by various government agencies, including the Internal Revenue Service and the Department of Defense, highlighting its broad application in federal operations [4] - Recent documents from the Department of Homeland Security reveal that Palantir is supplying AI tools to assist in processing tips, further integrating its technology into government functions [3]
Elon Musk's SpaceX reportedly combining with xAI ahead of potential IPO
CNBC· 2026-02-02 21:29
A SpaceX Falcon Heavy rocket carrying the National Oceanic and Atmospheric Administration's (NOAA) weather satellite Geostationary Operational Environmental Satellite U (GOES-U) lifts off from Launch Complex 39A at NASA's Kennedy Space Center, Florida, June 25, 2024.Elon Musk is combining rocket maker SpaceX with his artificial intelligence startup, xAI, according to reporting from Bloomberg, which cited people familiar with the matter. The agreement was announced in a memo on Monday, Bloomberg reported, ad ...
Palantir beats fourth-quarter estimates on the strength of AI and defense demand
CNBC· 2026-02-02 21:06
Core Insights - Palantir exceeded Wall Street's fourth-quarter estimates, driven by increased demand for its artificial intelligence tools from both businesses and the U.S. government [1][4] - The company reported a revenue growth of 70%, reaching $1.41 billion, compared to $827.5 million in the same quarter last year [1][6] - For the fiscal year, Palantir's total sales amounted to $4.48 billion, with U.S. government revenue at $570 million and commercial revenue at $507 million [1][4] Financial Performance - Earnings per share were reported at 25 cents adjusted, surpassing the expected 23 cents [6] - Revenue for the first quarter is projected to be between $1.532 billion and $1.536 billion, exceeding the FactSet estimate of $1.32 billion [3] - For fiscal 2026, the revenue guidance is set between $7.182 billion and $7.198 billion, which is above the FactSet expectation of $6.22 billion [3] Market Position and Demand - The company has experienced a significant boost in demand for its AI systems, particularly from the U.S. government, which saw a 66% growth in this segment [4] - CEO Alex Karp emphasized the importance of investing in AI tools to maintain competitive momentum in the tech industry [2] - Palantir's engagement with the U.S. government has led to a strategic decision to hold off on selling new products to allies due to strong domestic demand [5]
New York AG issues warning around prediction markets ahead of Super Bowl
CNBC· 2026-02-02 20:02
Group 1 - New York Attorney General Letitia James warns consumers about the risks associated with unregulated prediction markets, emphasizing the lack of consumer protections compared to regulated platforms [2] - Prediction platforms like Kalshi and Polymarket are anticipated to generate billions in trading volume during the Super Bowl, with event contracts that resemble bets [2] - Consumers can trade on game events and predetermined outcomes, similar to online sportsbooks such as DraftKings or FanDuel [3]