11:11 | Oil slumps on US-Iran truce, Anthropic nears $1 trillion valuation, and more

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Brent crude has fallen 18% this month as truce extension cool oil markets, though Exxon says inventories could soon hit record lows and send prices sharply higher again. Meanwhile, AI frenzy continues to dominate global markets, with Anthropic overtaking OpenAI in valuation and Dell shares soaring on a massive AI-led revenue outlook.

Crude Oil prices drop on reports of US-Iran truce; Brent set for worst month since 2020

Crude prices have lowered after the US and Iran extended truce for

another 60 days. West Texas Intermediate traded close to $88, while Brent dropped toward $93 per barrel, down 18% this month.

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Power and defence stocks still have long-term growth runway: PL Capital

Amnish Aggarwal, Director Institutional Research at PL Capital, says rising fuel prices, inflation and El Niño risks could slow credit growth in the coming quarters, even though stress signs are not yet visible in the economy. He remains constructive on defence and power-linked stocks over the long term.

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Anthropic nears $1 trillion valuation

Anthropic PBC, the Dario Amodei-led AI behemoth, has raised $65 billion in a funding round. This valuation of the artificial intelligence company now sits near a trillion dollars, at $965 billion, including the new investment, eclipsing rival OpenAI’s value for the first time.

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Dell shares jump 40% in extended trading on strong AI-driven $167B revenue outlook

Dell Technologies Inc. shares jumped nearly 40% after the company raised its revenue outlook for the fiscal year ending January 2027 to about $167 billion, including $60 billion from AI server sales.

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Gold, silver edge higher amid mixed signals on US-Iran deal

Gold prices inched higher on Friday (May 29) while silver extended gains, as investors weighed reports of a potential US-Iran ceasefire extension alongside persistent concerns over inflation and the trajectory of US interest rates.

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Exxon warns oil inventories headed for record lows; prices could hit $150-$160

US energy giant Exxon Mobil has warned that global oil inventories are set to fall to record low levels within weeks, potentially triggering a sharp spike in crude prices to as high as $150-$160 per barrel.

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Wockhardt shares jump 9% after CDSCO approves breakthrough antibiotic Zaynich in India

Shares of Wockhardt Ltd. climbed over 9% on Friday, May 29, after the company announced that the Central Drugs Standard Control Organisation (CDSCO) has approved the import and marketing of its breakthrough antibiotic Zaynich® (Zidebactam/Cefepime) in India.

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These multi-cap mutual funds have delivered up to 21% five-year returns

Several multi-cap mutual funds delivered double-digit returns over a five-year period despite volatility in domestic equity markets. According to Association of Mutual Funds in India (AMFI) data as of May 26, Nippon India Multicap Fund delivered the highest five-year direct return among multi-cap funds at 21.05%.

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2026 monsoon could get worse as El Niño set to strengthen, says IMD

The India Meteorological Department (IMD) has forecast 2026 southwest monsoon rainfall at 90% of the long-period average. This is below normal. June rainfall is expected at less than 92% of the long-period average.

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Vote counting starts in Punjab civic polls with 7,554 candidates in the race

Counting of votes for the civic body elections in Punjab commenced at 8 am on Friday amid tight security arrangements. Elections to 102 municipal bodies across eight municipal corporations along with 75 municipal councils and 19 nagar panchayats were held using ballot papers on May 26, recording a turnout of 63.94%

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Video of utensils being washed in train toilet prompts FSSAI notice to IRCTC

FSSAI has issued a notice to IRCTC after a viral video allegedly showed catering staff washing utensils inside a train toilet on the LTT-ERS Duronto Express, raising food safety concerns.

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