GoKawiil
Tech News
Bitcoin has surged to price levels not seen since January, extending a recent recovery across cryptocurrency markets after a difficult 2026. The rally follows months of subdued prices and comes alongside broader moves in interest rates and Treasury yields.
President Trump used social media posts to reject growing concerns about AI expansion and data centers, dismissing them as a 'hoax' and 'scam' while crediting AI investment for America's tech lead. Separately, Microsoft released a draft code of conduct that would impose limits on future AI models, following calls from Anthropic and OpenAI for a slower pace of AI development. Meanwhile, Bank of America CEO Brian Moynihan warned that investment banking fees could drop more than 10% in the third quarter after a strong prior quarter.
CNBC's Investing Club reported that its portfolio stocks diverged sharply from a broader market pullback driven by rising oil prices and a 10-year Treasury yield near 4.9%. Salesforce surged 21.3% on strong earnings and an AI-optimistic outlook, while Meta Platforms gained 9.9%, even as the Dow, S&P 500 and Nasdaq all declined over the past month.
A closely watched investment portfolio cut positions in AI-linked names Palo Alto Networks and Corning last week after big run-ups, locking in gains of roughly 148% and 52% respectively. Proceeds were redirected into more defensive holdings such as BNY and Kimberly-Clark, as rising oil prices and Treasury yields pressured risk appetite even after Nvidia's strong earnings failed to lift the broader AI trade.