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Real-time News
According to Fox Business, White House Council of Economic Advisers Chairman Feren stated that the CPI report weakened the case for raising interest rates.Iranian Foreign Ministry spokesman Bagaei: As the country with the longest coastline in the Persian Gulf and the Gulf of Oman, Iran demands that all parties benefiting from shipping through the Strait of Hormuz take responsibility and repair the environmental damage in the relevant waters.Iranian Foreign Ministry spokesman Bagaei: Oil pollution has recently occurred off the coast of Qeshm Island. Preliminary investigations indicate that the source of the pollution may be a foreign bulk carrier, and several coastal areas and parts of the sea have been affected.August 13th - According to sources, the Truth API data service launched by Trumps media company is facing resistance from some trading firms. While some firms have already signed up to use the service, some, including Hudson Rivers and Citadel Securities, have stated they are unwilling to pay for it, arguing it is not a necessary condition for trading operations. The sources requested anonymity due to the non-public nature of the information. Analysts point out that existing insider trading regulations do not explicitly cover the president using his media platforms to release information that could affect the market, or selling access to such information to the market more quickly. Karen Woody, a professor at Washington and Lee University School of Law, stated that past regulatory systems did not presuppose that a sitting president might engage in such practices. Securities and Exchange Commission (SEC) Chairman Paul Atkins previously stated in an interview that the SEC is monitoring the Truth API data flow.On August 13th, AI chipmaker Cerebras reported second-quarter revenue of $210 million, a 103% year-over-year increase. Cloud revenue reached $126 million, nearly quadrupling year-over-year, but hardware sales declined 23% to $54.1 million. The company recorded a net loss of $450.5 million for the quarter, compared to a net profit of $309.5 million in the same period last year. The company raised its full-year guidance, now expecting core revenue to be between $880 million and $890 million, up from the previous range of $855 million to $865 million. This report has created a mixed bag for investors, as Cerebras stock price has risen 42% since its May IPO. Initially positioned as a challenger to Nvidia in the AI chip field, the companys largest revenue source is now cloud computing. Cerebras stated that its core gross margin will expand to 38% to 40% this quarter in response to investor concerns. Following the earnings release, Cerebras stock price fell more than 17% in after-hours trading.
