Finance
Oil Records Sharpest Quarterly Fall Since 2020 as Hormuz Shipping Partly Resumes
Brent crude ended the second quarter near $73 a barrel, down about 30%, after a U.S.-Iran framework and returning tanker traffic through the Strait of Hormuz eased fears of a prolonged supply cutoff.
U.S. Stock Indexes Close Second Quarter at Record Highs, Led by Semiconductor Shares
The Dow, Nasdaq and S&P 500 each rose on June 30, 2026, as AI-linked chipmakers such as AMD and Intel surged, capping the strongest quarter for U.S. stocks since 2020.
Gold Falls About 14% in the Quarter as Markets Bet on Fed Rate Increases
Gold dropped to roughly $3,986 an ounce into quarter-end, its biggest quarterly loss in over a decade, as traders priced in multiple Federal Reserve rate hikes under new chair Kevin Warsh.
Rocket Lab Agrees to Buy Iridium in About $8 Billion Cash-and-Stock Deal
The launch company would gain Iridium's 66-satellite network and global L-band spectrum, sending both stocks higher while analysts weigh the debt and execution risk.
Comcast Announces Plan to Split Into Two Public Companies, Spinning Off NBCUniversal and Sky
Comcast says it will separate its broadband, wireless and cable business from its NBCUniversal studios, theme parks, Peacock and European Sky operations in a tax-free spin-off targeted for completion in about a year.
U.S. Inflation Reaches Three-Year High in May as Fed Weighs a Rate Increase
The Fed's preferred price gauge rose to 3.4% in May 2026 and headline PCE topped 4%, sustaining debate over whether Chair Kevin Warsh's Fed will lift interest rates later this year.
Final June Consumer Sentiment Revised to 49.5, Up From May Record Low but Still Near Historic Bottom
The University of Michigan's final June index rose to 49.5 as easing gas prices and cooler inflation expectations lifted a still-depressed mood, while the Federal Reserve keeps rates on hold.
Crude Oil Falls About 7% on the Week as Strait of Hormuz Traffic Recovers and Saudi Arabia Prepares Price Cuts
Brent and WTI posted one of their sharpest weekly drops in months as Gulf shipping resumed and Saudi Arabia signaled lower August prices to Asia, though a postponed U.S.-Iran meeting kept supply risk in play.
Chip Stocks Fall After Report That OpenAI May Postpone Its IPO to 2027
A New York Times report that OpenAI is weighing a delay of its stock-market debut triggered a global selloff in semiconductor and AI-linked shares, with the Nasdaq heading for a roughly 4% weekly loss.
Apple and Microsoft Raise Hardware Prices, Blaming AI-Driven Memory Shortage; Apple Shares Fall 6%
Both companies say a surge in DRAM and NAND chip prices forced the increases on Macs, iPads and Xbox consoles; the disputed question is who is responsible for the underlying shortage.
May PCE Price Index Rises to 4.1% Year Over Year as Consumer Spending and Income Each Climb 0.7%
The Federal Reserve's preferred inflation gauge hit a three-year high in May 2026 amid an oil-price shock and tariff pass-through, even as households kept spending; the Fed has dropped its earlier rate-cut plan.