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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.

Crypto

Russia partly legalises crypto investment and trading, bars domestic payments

Russia will partly legalise cryptocurrency investment and trading from Sept. 1 local time under a new law, while keeping a ban on crypto payments inside the country. Residents will be able to buy digital assets through intermediaries licensed by the central bank, and exchanges must obtain new approval and meet capital requirements. Limits will apply to non-professional investors. The law also allows crypto use for international settlements by Russian firms.

Crypto

XRP may dodge September weakness as ETF flows, U.S. Clarity Act vote draw focus

XRP is showing strength ahead of September, a month often seen as weak for cryptocurrencies. U.Today reported XRP has closed higher in September 5 times and lower 3 times since 2018, with an average return of 12.19 percent. An analyst cited chart patterns shared with XLM and bitcoin, record weekly inflows into spot XRP ETFs and Goldman Sachs holdings. Attention is also on a Sept. 15 U.S. Senate vote and a 1 billion XRP escrow release.