Tech, Media & Telecom Roundup: Market Talk

The latest Market Talks covering Technology, Media and Telecom. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.

1123 ET – Dubai stocks lead major Gulf exchanges higher as easing geopolitical tensions lift investor sentiment. A sharp decline in crude oil prices over the past two trading sessions reflects signs of easing regional tensions, says Junaid Ansari at Kamco Invest. Better-than-expected corporate earnings have also supported regional markets, while defensive sectors including consumer staples, retail and telecom have outperformed across much of the GCC, says the head of investment strategy and research. The Dubai Financial Market General Index gains 1.0%, Qatar’s QE Index rises 0.8% and Abu Dhabi’s benchmark index is up 0.2%. ([email protected])

1100 ET – Bitcoin is down 0.2% to $64,496, and a further slide could be in the cards, says Nicolai Søndergaard of Nansen in a note—to as low as $52k to $58k. “Onchain and derivatives signals show that strong buyers have not yet returned or confirmed a durable bottom,” says Søndergaard. The Federal Reserve’s decision on interest rates later this week and commentary around it may set the tone for how bitcoin moves in the near future, he adds—along with Strategy’s 2Q results also slated for this week. Should bitcoin fall to $52k, it would be the lowest it has traded since February 2024. Ethereum is up 0.5% to $1,922, XRP is down 1.3% to $1.09, and solana is flat around $75.28. ([email protected])

0938 ET – The solid 0.9% gain in nondefense capital-goods orders excluding aircraft is consistent with the baseline forecast for business equipment investment to continue supporting growth in the second half of the year, according to a note from Oxford Economics. “The AI infrastructure buildout is showing no signs of slowing, which is driving up new orders of computers and electronic products and spilling over into other sectors such as machinery—namely, power transmission equipment—and metals,” Oxford says.([email protected])