Business Headlines
Most of Wall Street rises, but sinking AI stocks keep it on track for a losing week
NEW YORK (AP) — Most of the U.S. stock market is rising Friday after oil prices fell back to where they were before the war with Iran, but drops for AI stocks are keeping the market in check. The S&P 500 was virtually unchanged after recovering from an early loss of 0.9%. The index at the heart of many 401(k) accounts is still on track for its second losing week in the last 13, largely because of drops for stocks swept up in the mania around artificial-intelligence technology. The Dow Jones Industrial Average was up 39 points, or 0.1%, as of 10:45 a.m. Eastern time, and the Nasdaq composite was down 0.2%. Stocks got a boost as the price of ... Read More
World shares skid as traders sell to lock in profits after recent rallies driven by AI
[caption id="attachment_1518503" align="alignnone" width="1024"] A currency trader passes by a screen showing the Korea Composite Stock Price Index (KOSPI) and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Friday, June 26, 2026. (AP Photo/Ahn Young-joon)[/caption]BANGKOK (AP) — World shares retreated Friday, led by heavy losses in Japan and South Korea as traders sold to lock in gains from recent rallies in stocks related to artificial intelligence. In early European trading, Germany's DAX gave up 0.8% to 24,793.58, while the CAC 40 in Paris lost 0.4% to 8,398.14. Britain's FTSE 100 shed 0.4% to 10,490.62. The future for the S&P 500 lost 0.2% ... Read More
Wall Street drifts to a mixed finish after Micron soars and Apple drops
NEW YORK (AP) — The U.S. stock market meandered to a mixed finish Thursday after several artificial-intelligence stocks veered back up their roller-coaster ride, while Apple dropped after hiking prices on many of its products. The S&P 500 finished nearly unchanged with a dip of less than 0.1% after swinging between gains and losses throughout the day. The Dow Jones Industrial Average added 71 points, or 0.1%, and the Nasdaq composite fell 0.5%. Micron Technology helped lead the market after jumping 15.7%. The maker of computer memory reported much bigger profit and revenue for the latest quarter than analysts expected, and it gave a stronger growth forecast for the current quarter than Wall Street expected. That helped allay worries a ... Read More
US jobless aid filings fall to 215,000 last week as layoffs remain low despite economic headwinds
WASHINGTON (AP) — Fewer Americans applied for jobless aid last week as layoffs remain low despite economic headwinds that are creating uncertainty for businesses. U.S. applications for unemployment benefits in the week ending June 20 fell by 12,000 to 215,000, the Labor Department reported Thursday. That’s fewer than the 225,000 new applications forecast by analysts surveyed by the data firm FactSet. Weekly filings for unemployment benefits are considered representative of U.S. layoffs and are close to a real-time indicator of the health of the job market. Despite concerns that the war in Iran would trip up an already wobbly labor market, hiring has picked up in recent months following a miserable 2025 that saw fewer than 200,000 job gains. For ... Read More
Wall Street drifts in mixed trading after Micron soars and Apple drops
NEW YORK (AP) — The U.S. stock market is drifting in mixed trading Thursday after several artificial-intelligence stocks veered back up the roller coaster, while Apple dropped after hiking prices on many of its products. The S&P 500 slipped 0.3% after erasing an early gain of 0.8%. The Dow Jones Industrial Average was up 228 points, or 0.4%, as of 10 a.m. Eastern time, and the Nasdaq composite was 1.2% lower. Micron Technology helped lead the market after jumping 9.7%. The maker of memory chips for computers reported much stronger profit and revenue for the latest quarter than analysts expected, and it gave a stronger growth forecast for the current quarter than Wall Street expected. That helped allay worries a ... Read More
Rebound in tech shares pushes world markets higher, while oil prices fall
[caption id="attachment_1518182" align="alignnone" width="1024"] People walk past a monitor showing Japan's Nikkei 225 index at a securities firm in Tokyo, Tuesday, June 23, 2026. (AP Photo/Hiro Komae)[/caption]BANGKOK (AP) — World shares were mostly higher Thursday, led by tech-driven gains in Japan and South Korea as major computer chipmakers’ stocks surged following upbeat earnings reports from U.S. giants like Qualcomm and Micron Technology. Oil prices slipped closer to where they were before the war with Iran began. Qualcomm’s share price surged nearly 7% in afterhours trading after the company announced it had raised its forecast for revenue this year to $40 billion from $22 billion. It also announced a new computer chip for data centers called Dragonfly C1000 CPU that Meta ... Read More
US stocks end mixed, weighed down by more losses for tech giants
NEW YORK (AP) — Stocks wavered to a mixed close on Wall Street Wednesday as technology stocks once again weighed down the market. Declines for several influential tech heavyweights, including Microsoft, pulled the broader market lower even though most stocks in the S&P 500 gained ground. That was also the case on Tuesday, when tech stocks pulled the market lower despite broader gains elsewhere. The S&P 500 fell 7.24 points, or 0.1%, to 7,358.22, despite nearly 2 out of every 3 stocks gaining ground. The Dow Jones Industrial Average, which is less weighted with tech stocks, rose 182.06 points, or 0.4%, to 51,848.90. The tech-heavy Nasdaq composite fell 110.40 points, or 0.4%, to 25,476.64. A 2.3% drop in Microsoft was ... Read More
Global oil prices fall to lowest level since before the Iran War
A cargo ship remains anchored on May 16, 2026 in the Strait of Hormuz near Larak Island, Iran. (Majid Saeedi/Getty Images)(NEW YORK) -- Global oil prices on Wednesday fell to their lowest level since before the outbreak of the Iran war.Brent crude futures, the benchmark index for worldwide trading, dropped to $73.50 a barrel. That figure, which amounted to a nearly 5% decline on Wednesday, marked the lowest price since Feb. 27, the day before the Middle East conflict began.Stock prices, meanwhile, ticked higher Wednesday after a down day Tuesday. The Dow Jones Industrial Average jumped 105 points, or 0.2%, while the S&P 500 increased 0.2%. The tech-heavy Nasdaq rose 0.2%. Gas prices fell below $4 per gallon last week, crossing the milestone as oil ... Read More
US stocks rise as falling oil prices help take pressure off the market
NEW YORK (AP) — Stocks rose on Wall Street Wednesday as falling bond yields and lower oil prices helped ease pressure on the market. The S&P 500 climbed 0.8%. The Dow Jones Industrial Average added 432 points, or 0.8%, as of 11:03 a.m. Eastern. The Nasdaq composite rose 0.9%. Technology stocks were gaining ground after two days of losses that weighed on the market. That helped push indexes higher as gains broadened out to other sectors, including retailers and industrial companies. Apple rose 1%, Amazon jumped 3% and Caterpillar rose 1.6%. Nvidia rose 0.6% following a 4.1% drop on Tuesday. Micron Technology, which reports its latest results later Wednesday, fell 0.4% following its 13.2% plunge on Tuesday. Google’s parent company ... Read More
US stocks drift after oil prices ease and Big Tech stocks fall
NEW YORK (AP) — U.S. stocks drifted through a mixed day of trading on Monday after oil prices eased and falling Big Tech stocks weighed on Wall Street. The S&P 500 slipped 0.4%, coming off its 11th winning week in the last 12, and pulled 1.8% below its all-time high set early this month. The Dow Jones Industrial Average added 148 points, or 0.3%, and the Nasdaq composite slumped 1.3%. In the oil market, prices fell following talks over the weekend between the United States and Iran on their war. U.S. Vice President JD Vance said they created a “good foundation for a successful final deal.” An end to the war could clear the Strait of Hormuz for oil tankers ... Read More
Alan Greenspan, longtime chairman of the Federal Reserve, dies at 100
In this June 27, 2016 file photo Alan Greenspan, former chairman of the Federal Reserve and president and founder of Greenspan Associates, speaks during a Bloomberg Television interview in Washington, D.C. (Andrew Harrer/Bloomberg via Getty Images, FILE)(NEW YORK) -- Alan Greenspan, the longtime chairman of the Federal Reserve, has died, his wife confirmed. He was 100 years old."Alan passed away at our home this morning at the age of 100 from complications of Parkinson’s Disease,” Andrea Mitchell, his wife and a chief correspondent at NBC News, said in a statement published by the network on Monday.The economist is remembered for leading the American central bank amid periods of historic U.S. economic expansion, while critics have also said his policies contributed ... Read More
Stocks rise on Wall Street, erasing much of their loss from a day earlier
NEW YORK (AP) — Stocks rose on Wall Street Thursday and erased most of their losses from a day earlier to notch weekly gains. The market’s reversal was powered by sharp gains for big technology companies. The decline on Wednesday was driven by anticipation that the Federal Reserve will likely raise interest rates this year in an effort to fight inflation. On Thursday, stocks faced less pressure as bond yields eased and oil prices spent most of the day falling. The S&P 500 rose 80.48 points, or 1.1%, to 7,500.58. The Dow Jones Industrial Average rose 72.15 points, or 0.1%, to 51,564.70. The Nasdaq composite surged 496.28 points, or 1.9%, to 26,517.93. Every major index notched weekly gains. U.S. markets ... Read More
Stocks rise on Wall Street, erasing much of their loss from a day earlier
NEW YORK (AP) — Stocks rose on Wall Street Thursday, taking back most of their losses from a day earlier, and are on track to notch weekly gains. The S&P 500 rose 1.1%. The Dow Jones Industrial Average rose 302 points, or 0.6%, as of 10:49 a.m. Eastern. The Nasdaq composite jumped 1.4%. Every major index is on track for weekly gains. U.S. markets will be closed Friday for Juneteenth. The gains are helping to cut losses from a day earlier that were driven by anticipation that the Federal Reserve will likely raise interest rates this year in an effort to fight inflation. Bond yields are pulling back. That, along with falling oil prices, is relieving much of the pressure ... Read More
Oil drops below $80 per barrel, while tech stocks weigh on a mixed Wall Street
NEW YORK (AP) — Oil prices sank again Tuesday and dropped below $80 per barrel for the first time since early March, while U.S. stocks drifted near their all-time highs in mixed trading. The S&P 500 slipped 0.6% and pulled 1.3% below its record set earlier this month. The market was nearly evenly split between stocks rising and falling, and the Dow Jones Industrial Average added 328 points, or 0.6%, to set a record for the second straight day. But drops for some influential tech stocks pulled the Nasdaq composite down 1.2%. Stocks that had benefited from the boom in artificial-intelligence technology weighed on the market in particular following vicious swings over the last couple weeks. They’ve been leading the ... Read More
Oil prices fall below $80 per barrel, while US stocks drift
NEW YORK (AP) — Oil prices are sinking again Tuesday and pulled back below $80 per barrel for the first time since early March, while the U.S. stock market drifts near its all-time high. The S&P 500 slipped 0.2% following a rally that’s brought it back within 1% of its record set earlier this month. The Dow Jones Industrial Average was up 502 points, or 1%, as of 12:46 p.m. Eastern time, and the Nasdaq composite was 0.5% lower. With optimism continuing that a tentative U.S.-Iran deal on their war will reopen the Strait of Hormuz at the end of the week and get the global flow of oil going again, the price for a barrel of Brent crude fell ... Read More
Fed set to make interest rate decision as inflation hits 3-year hig
Kevin Warsh, Chair of the Federal Reserve, on April 21, 2026 in Washington, DC. (Photo by Andrew Harnik/Getty Images)v(WASHINGTON) -- The Federal Reserve is set to announce its latest decision on interest rates on Wednesday as the central bank weathers the highest inflation in three years.The announcement will mark the first possible adjustment of the benchmark interest rate since Trump nominee Kevin Warsh began his four-year term as Fed chair last month.The policy move is also set to arrive at a moment of flux for the nation’s economy, just days after an agreement between the United States and Iran offered hope for some price relief.The U.S.-Iran accord, set to be formally signed on Friday, came as gasoline prices fell below ... Read More
Stocks leap worldwide, and oil prices drop after the US and Iran reach a tentative deal on their war
NEW YORK (AP) — Stock markets rallied worldwide Monday, and oil prices eased after the United States and Iran reached a tentative deal to extend their ceasefire and reopen the Strait of Hormuz to get the global flow of crude going again. The S&P 500 rose 1.7% on hopes that this time, the announcement of an Iran-U.S. agreement will mean a long-term fix to a conflict that has worsened inflation around the world. The Dow Jones Industrial Average climbed 468 points, or 0.9%, to a record, and the Nasdaq composite jumped 3.1%. Stocks got a lift after the price for a barrel of Brent crude oil fell 4.8% to $83.17, back to where it was in early March. While that’s ... Read More
Oil prices fall to lowest level since March after US announces Iran deal
A pumpjack stands idle in the Huntington Beach oil field on April 23, 2026 in Huntington Beach, California. (Mario Tama/Getty Images)(NEW YORK) -- Oil prices on Monday fell to their lowest level since March after U.S. officials announced an agreement between the United States and Iran.West Texas Intermediate futures price, the benchmark index for U.S. trading, registered at about $80.40. That figure, which amounted to a 5% drop on Monday, marked the lowest price since March 5, just a week after the outbreak of the Iran war.Stock prices, meanwhile, climbed on hopes of a resolution to the Iran war. The Dow Jones Industrial Average jumped 530 points, or 1%, while the S&P 500 increased 1.4%. The tech-heavy Nasdaq rose 2.3%.Gas prices have fallen toward ... Read More
Consumer sentiment improves but stays near all-time low, survey shows
Fuel prices are displayed at a gas station on June 09, 2026 in Chicago, Illinois. (Scott Olson/Getty Images)(NEW YORK) -- Consumer sentiment improved in June for the first time since the outbreak of the Iran war as gasoline prices eased in recent weeks, but shopper attitudes remained near their worst level on record, University of Michigan survey data on Friday showed. The reading exceeded economists' expectations.The survey snapped three consecutive months of dampening consumer sentiment, recovering from an all-time low in May, data showed. The University of Michigan has conducted the survey for the past 80 years.This improvement in sentiment was widespread, seen across age, education and political party, Surveys of Consumers Director Joanne Hsu said in a statement. Overall assessments and expectations of ... Read More
SpaceX IPO could make Elon Musk the first-ever trillionaire
Elon Musk is photographed at Space X in Brownsville, Texas, May 27, 2025. (Marvin Joseph/The Washington Post via Getty Images)(NEW YORK) -- Elon Musk, the wealthiest person alive, could become the first-ever trillionaire when SpaceX goes public on Friday.The company's founder and CEO is set to own roughly four out of every 10 SpaceX shares after the initial public offering (IPO). If SpaceX were to achieve its target valuation of $1.75 trillion, Musk would accrue hundreds of millions of dollars in new wealth, at least on paper.SpaceX builds and operates spacecraft, including thousands of satellites deployed in support of its Starlink satellite internet service. Earlier this year, the Texas-based firm merged with xAI, a Musk-led artificial intelligence company that offers ... Read More
Inflation hits highest level since 2023, as the Iran war pushes up prices
A customer shops for produce at an H-E-B grocery store on May 11, 2026 in Austin, Texas. (Brandon Bell/Getty Images)(NEW YORK) -- Inflation jumped for a third consecutive month as the Iran war continued to drive up prices in May, surpassing 4% for the first time in three years. The reading matched economists' expectations.Prices rose 4.2% in May compared to a year earlier, marking an increase from a year-over-year inflation rate of 3.8% in the prior month, U.S. Bureau of Labor Statistics data showed.As recently as February, inflation clocked in just a few ticks above the Federal Reserve's target level of 2%.The Middle East conflict prompted the Iranian closure of the Strait of Hormuz, a maritime trading route that facilitates the transport of about ... Read More
Air Canada pilot arrested for flying without proper license
An Air Canada plane is seen at Pearson International Airport on August 14, 2025 in Toronto, Canada. (Cole Burston/Getty Images)(TORONTO) -- An Air Canada pilot was arrested Monday after a probe discovered he had been allegedly flying hundreds of flights for at least 17 years without a proper license.Canadian police officials outlined Geoffrey Wall's alleged fraud, which they said, "read like a movie script."Since 2009, when Wall was promoted to captain, he has been flying with a fraudulent airline transport pilot license, the credential that would allow him to fly commercial airplanes as a captain, Peel Regional Police said. Authorities compared Wall to a doctor who is licensed to practice family medicine marching into a hospital to perform brain surgery. "Licensing requirements ... Read More
OpenAI, company behind ChatGPT, files for IPO
In this Nov. 16, 2023, file photo, OpenAI CEO Sam Altman looks on during the APEC CEO Summit at Moscone West in San Francisco. (Justin Sullivan/Getty Images, FILE)(NEW YORK) -- OpenAI, the artificial-intelligence company behind ChatGPT, announced Monday night it had filed confidentially for an initial public offering (IPO), setting up the firm to raise fresh funds as it competes with deep-pocketed tech giants in the fast-growing AI industry.In a post on X, OpenAI said it had not determined when the company would begin listing on public markets."We have not decided on timing yet; it may be a while because there are things we want to do that are likely easier as a private company. But it’s a complicated set ... Read More
Hiring blows past expectations, accelerating in May despite Iran war
e HR recruitment manager holding resume in hands while having an interview in a modern office. (Xavier Lorenzo/Getty Images)(NEW YORK) -- Hiring blew past expectations in May, registering at a blockbuster clip despite a continued rise in inflation set off by the Iran War.The U.S. added 172,000 jobs in May, according to the report, which marked an acceleration from 115,000 jobs added in April. The reading for April exceeded economists' expectations. The reading amounted to a slight downshift from March, when the U.S. economy gained 185,000 jobs.Still, the job gains in May indicated a robust expansion of the labor market, defying concern about a potential economic downturn. Hiring has proven unexpectedly resilient in recent months, despite a rise in costs ... Read More
Gas prices are falling despite the Iran war’s impact. Will it last?
Fuel prices are displayed at a gas station in Brooklyn on June 01, 2026, in New York City. (Spencer Platt/Getty Images)(NEW YORKI) --Drivers stung by high gas prices have enjoyed some welcome relief over the last couple of weeks, even as the impact of the Iran war continues to choke off oil supply.The national average price of a gallon of gas stood at $4.26 on Wednesday, marking a decline of 30 cents, or 6.5%, since a recent peak on May 21.Still, prices remain well above where they clocked in before a historic oil shock set off by the war. In late February, the average gallon of gas ran less than $3.The dropoff in gas prices owes to a decline in ... Read More
Trump admin sent $20.6B in tariff refunds so far: Court filing
U.S. President Donald Trump speaks during a Cabinet meeting in the Cabinet Room of the White House on May 27, 2026 in Washington, DC. (Win McNamee/Getty Images)(NEW YORK) -- A court filing shows how businesses are getting money back from the U.S. government after the Supreme Court ruled many of President Donald Trump's tariffs were illegal.The Trump administration has sent out $20.6 billion in tariff refunds so far, according to a new court filing.The filing sheds light on how tens of thousands of American businesses are starting to get money back from the federal government after the Supreme Court ruled many of President Donald Trump's tariffs were illegal in February.Walmart suggested last week it will cut prices for shoppers using the estimated ... Read More
Artificial intelligence could potentially eliminate thousands of jobs in New York City, city official says
In this Jan. 19, 2026, file photo, New York City Comptroller Mark Levine speaks at an event at the Brooklyn Academy of Music in New York. (Jason Mendez/Getty Images for Brooklyn Academy Of Music, FILE)(NEW YORK) -- The top financial officer in New York City on Thursday warned that artificial intelligence could put thousands of workers in the nation’s largest metropolis out of a job as soon as this year, while acknowledging that the ultimate impact of AI remains uncertain.The only sure thing, New York City Comptroller Mark Levin said in a new report: AI promises a “radical transformation” in the globe’s financial capital, influencing everything from wages to pension payments to Wall Street profits.Levin, a Democratic former New York City Council member, predicted a ... Read More
What rising bond yields mean for mortgages and credit card rates
Houses with a 'For Sale' sign in a small new neighborhood in Gunnison, Colorado 6/18/20 (Nathan Bilow/Getty Images)(NEW YORK) -- U.S. Treasury yields soared in recent days as the Iran war stoked inflation fears, threatening to drive up borrowing costs for everything from mortgages to credit cards to auto loans.The yields on 30-year bonds – the amount paid to a bondholder annually – touched their highest point since 2007. Ten-year Treasury yields peaked at about 4.69% on Tuesday, marking a roughly three-quarter percentage point jump from the start of the war on Feb. 28.The yield on 10-year Treasuries retreated on Wednesday, registering at 4.58%. Still, yields exceed the level reached during a bond selloff in the aftermath of President Donald ... Read More
Court dismisses Elon Musk’s case against Sam Altman and OpenAI
OpenAI CEO Sam Altman arrives to court at the Ronald V. Dellums Federal Building on May 12, 2026 in Oakland, California. (Photo by Benjamin Fanjoy/Getty Images)(NEW YORK) -- A jury on Monday found that Elon Musk waited too long to bring claims accusing OpenAI, under Sam Altman’s leadership, of abandoning its public-benefit mission as it moved toward a for-profit structure.The nine-person advisory jury determined that the claims against OpenAI and Altman were barred due to the statute of limitations. Judge Yvonne Gonzalez Rogers accepted the determination and dismissed the claims.The three-week trial at a federal courthouse in Oakland, California, featured testimony from Musk and Altman, as well as Microsoft CEO Satya Nadella.When Musk sued OpenAI and Altman two years ago, ... Read More
Takeaways from Fed Chair Jerome Powell’s tenure as he steps down
U.S. Federal Reserve Chair Jerome Powell attends a press conference in Washington, D.C., the United States, April 29, 2026. (Photo by Li Rui/Xinhua via Getty Images)(NEW YORK) -- A global pandemic that put millions of Americans out of work within days. The highest inflation in four decades. An unprecedented federal criminal investigation.Fed Chair Jerome Powell faced a succession of crises over his 8-year tenure atop the central bank, which ends on Friday. Powell’s decisions along the way held stakes as concrete as the budgets of everyday Americans and as heady as the political independence of a pillar institution.President Donald Trump’s Fed Chair nominee Kevin Warsh is set to take the helm, inheriting a resilient economy by some measures, though one ... Read More
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