Finance

Shares of Elon Musk's aerospace giant fell significantly despite reporting quarterly revenue that nearly doubled. Wall Street investors reacted negatively to the company's disclosure of heavy capital expenditures directed toward artificial intelligence infrastructure and data centers.

Gold futures surged past the $4,300 per ounce mark, securing notable single-day gains. The upward momentum came as ongoing geopolitical friction surrounding the Strait of Hormuz continues to fuel inflationary worries and demand for traditional safe-haven assets.

Moderna shares gained ground following an announcement that the Food and Drug Administration granted approval for its mFlusiva mRNA flu vaccine. The inoculation is specifically authorized for deployment in adults aged 50 years and older.