Business Headlines
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
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
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
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