U.S. Central Command reported that American forces conducted self-defense strikes in Iran, aimed at protecting troops from Iranian threats.
This escalation comes amid ongoing negotiations for a potential deal with Iran, which President Trump described as 'proceeding nicely.' The strikes have led to a more than 2% increase in Brent crude oil futures, while West Texas Intermediate futures fell by 4%. The market's reaction reflects concerns over geopolitical tensions affecting oil supply.
Additionally, Kevin Warsh was sworn in as the new chair of the Federal Reserve, marking a significant leadership change. Trump's comments suggest he expects interest rates to decrease, raising questions about Warsh's approach to monetary policy and market intervention.
In the tech sector, Huawei's introduction of a new chip design threatens the market positions of Nvidia and Apple, particularly in China, where Huawei's Mate 60 smartphone is gaining traction. Meanwhile, rising airfare and gasoline prices are testing Americans' travel plans this summer, with airfare reaching a four-year high and gasoline prices at their highest since 2022.
Lastly, Disney's latest Star Wars film had the lowest opening for the franchise but is expected to perform well overall, indicating the importance of brand expansion beyond box office sales