(US Stocks) Philadelphia Gold and Silver Index closed down 3.14% at 406.62 points
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Western Digital (WDC.US) CFO refutes claims of AI demand peaking: No signs of weakening, if it cools down it could help us catch up with the demand gap
Western Digital's CFO expressed strong support for AI storage demand, stating that hyperscale cloud providers are continuously increasing capital expenditures and have engaged in discussions regarding supply needs through 2030 to 2031. Although the company's quarterly results exceeded expectations and profit guidance was raised, capital expenditure more than doubled compared to the same period last year, putting pressure on free cash flow. This has sparked concerns in the market about the sustainability of returns on AI data center investments. The stock closed down by about 3% on Friday.
French political turmoil hits the euro, hedge fund short bets reach more than six-year high
As the political turmoil in France continues to unsettle the European bond market and drag down the euro’s performance, hedge funds are increasing their bearish bets on the euro.
The US will exempt some Canadian goods from tariffs, involving nine categories of products including packaging materials and machinery.
Susan Collins, a Republican Senator from Maine, stated on Friday that the US government will grant tariff exemptions for certain Canadian imports.
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