Moody's downgraded France's credit rating to Aa3 due to political instability. The agency cited "political fragmentation" after parliament ousted Prime Minister Barnier over an austerity budget. Newly appointed Prime Minister Bayrou faces challenges forming a stable government and addressing large fiscal deficits.
Broadcom forecast quarterly revenue surpassing Wall Street expectations and predicted robust growth in demand for its custom AI chips over the next few years. The optimistic outlook propelled the company's shares 24% higher, pushing its market capitalization past $1 trillion for the first time.
