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AI & Enterprise

AI fear-battered stocks revive in August U.S. market rebound lineup

In August, U.S. stocks that had been weighed down by Wall Street’s bearish narratives rebounded sharply, CNBC reported. Jim Cramer said worries over AI threats, slower growth and worsening conditions were overturned by earnings and shifts in positioning. Moderna surged after reporting promising results for an experimental melanoma vaccine with Merck. Enterprise software names rebounded as a high-leverage hedge fund unwound bets. Other gainers included Gartner, Newmont, Paramount Skydance, Super Micro Computer, Sandisk and Coinbase.

Industry

Moderna shares surge 177 percent after success in phase 3 trial for mRNA cancer vaccine

Moderna shares jumped about 177 percent in a single day after the company reported positive results from the first phase 3 clinical trial of a personalised mRNA-based cancer treatment. Moderna said its intismeran autogene, used with Merck\'s Keytruda, met the main endpoints in the INTerpath-001 trial in patients with stage 2B to 4 melanoma after tumour removal surgery. Merck shares also rose. Short sellers\' losses widened to about $4.8 billion.

Crypto

Fidelity seeks to add staking to Ethereum spot ETF FETH

Asset manager Fidelity has filed documents with the U.S. Securities and Exchange Commission to add staking to its Ethereum spot exchange-traded fund, FETH. The filing outlines a structure to generate staking rewards using the Ethereum held by the fund, with up to 100% eligible for staking excluding amounts needed for redemptions, costs and liquidity. Fidelity said 85% of rewards would go to FETH and 15% to staking fees, and it plans quarterly cash distributions without guaranteeing payments.