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Senior US officials are bracing for a potential strike on Iran in the coming days as Israel and Iran continue to exchange fire, with some sources hinting at a weekend attack. Israel has intensified its military campaign, targeting Iranian strategic sites and vowing to hold Supreme Leader Ayatollah Ali Khamenei accountable, expanding its objectives beyond dismantling Iran’s nuclear program. A recent Iranian missile strike hit an Israeli hospital, though it caused only minor injuries due to prior evacuation. US President Donald Trump has shifted from advocating diplomacy to openly considering military action alongside Israel, influenced by allies like Senator Lindsey Graham, though he remains undecided. The conflict has already resulted in significant casualties, with hundreds killed on both sides. Meanwhile, diplomatic efforts to curb escalation continue, with Iran’s Foreign Minister Abbas Araghchi set to meet European counterparts in Geneva to discuss the nuclear program and war. The situation remains volatile, impacting global markets with rising oil prices and geopolitical uncertainty, while the US weighs its next steps in this oil-rich region’s escalating conflict.
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US stocks, led by the tech sector, mostly rose on Wednesday, with the Nasdaq Composite gaining 0.6% and the S&P 500 up over 0.2%, nearing record highs. Nvidia (NVDA) surged 2.63%, eyeing a record close, while Tesla (TSLA) fell over 5% due to a 41% drop in EU sales. Market sentiment was lifted by Federal Reserve Chair Jerome Powell's hints at potential early interest rate cuts, with investors keenly awaiting further testimony and the PCE inflation report on Friday. Additionally, a US-brokered ceasefire between Iran and Israel, holding without reported conflicts, eased geopolitical tensions, supporting a modest rise in oil prices, with Brent futures above $66 a barrel. Other notable movements included Reddit (RDDT) extending gains with a 40% monthly climb and BlackBerry (BB) jumping 10% on strong cybersecurity demand. However, concerns linger over inflation data and the impact of Trump's tariffs on prices, alongside individual stock challenges like Tesla's sales slump and Novo Nordisk's fallout with Hims & Hers over weight-loss drug strategies.
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Nvidia (NVDA) shares climbed over 2% in early trading, nearing a new record high above $149.43, marking a significant rebound from earlier struggles in 2023. The AI chipmaker's stock surged 12% since its May 28 earnings report, which outperformed Wall Street forecasts despite a China export ban costing billions in lost revenue. Loop Capital raised its price target to $250, projecting a potential $6 trillion market cap, citing Nvidia's dominance in AI chip technology. However, challenges persist with competition from Huawei in China and uncertainty over sustained AI infrastructure demand as Big Tech spending outpaces revenue. Earlier setbacks included stock drops due to Trump's trade policies and a cheap Chinese AI model, with shares hitting a low of $94 in April. Nvidia's recovery was supported by major deals with Saudi Arabia and the UAE, briefly overtaking Microsoft as the world's most valuable company in June. Meanwhile, tech stocks, including Intel and Broadcom, also rallied, with investor inflows into tech reaching a peak not seen since June 2024, as the Nasdaq indices hit record levels.
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Shiba Inu (SHIB), a prominent meme coin with a $6.6 billion market cap, has experienced a turbulent 2024, losing about 50% of its value by June 23. Despite this, the article highlights two reasons to consider buying SHIB before 2025: its potential for high volatility-driven gains, as seen in a 1,000% surge in 2021, and its role as a source of entertainment and social connection, especially through meme coin communities. However, the piece cautions that SHIB is best suited for those with extra cash seeking fun rather than serious investment. In contrast, Bitcoin (BTC), with a $2 trillion market cap, is presented as a superior long-term asset. As the first cryptocurrency, Bitcoin holds a unique reputational advantage and widespread acceptance among investors, akin to gold’s status as a safe haven. While SHIB’s allure lies in its speculative excitement and social aspects, Bitcoin is recommended for those focused on building wealth over decades due to its stability and established value. The article ultimately suggests that while SHIB can be a playful addition to a portfolio, Bitcoin remains the better choice for serious, long-term investment strategies.
