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Markets surged on this week’s de-escalation in the U.S.-China trade war. But the so-called “breakthrough” is riddled with caveats — and investors may be celebrating too soon.

With progress in U.S.-China trade talks, safe-haven assets seem to have taken a back seat. However, the full effect of the tariffs may be delayed, keeping market volatility intact. In such a scenario, gold stands out as an appealing option.

The Dow Jones Industrial Average fell 0.2%, and the Nasdaq composite rose 0.7%. American Eagle Outfitters sank 6.4% after becoming the latest company to pull its financial forecasts. Treasury yields rose in the bond market.

The Dow Jones Industrial Average fell 0.2%, and the Nasdaq composite rose 0.7%. American Eagle Outfitters sank 6.4% after becoming the latest company to pull its financial forecasts. Treasury yields rose in the bond market.

(Reuters) -Cisco Systems said on Wednesday that its finance chief Scott Herren will retire from the company in July, and raised its annual results forecast, betting on steady demand from cloud customers for its networking equipment, driven by the artificial intelligence boom. Herren will be replaced by Mark Patterson, currently Cisco's chief strategy officer, who will start as the CFO on July 27. With products such as ethernet switches and routers, Cisco has benefited from a boom in data center investment, as technology giants have ramped up capital expenditure to meet the computing power needed to run generative AI applications.

Michael Saylor believes Bitcoin will hit $13 million by 2045 — and that Strategy (formerly MicroStrategy) could become a $10 trillion company.

(Reuters) -CoreWeave is looking to spend $20 billion to $23 billion this year on AI infrastructure and data center capacity, the Nvidia-backed company said on Wednesday, as it aims to meet booming demand from clients, including Microsoft. The heavy-spending plan weighed on its shares, which fell 5% after surging as much as 11% on better-than-expected revenue in its first results as a public company after debuting on the Nasdaq in March. CoreWeave has a unique way of structuring its debt and capital spending that will take time for the market to understand, CEO Mike Intrator told Reuters in an interview.