Dow CEO Says Petrochemical Supply Disruptions to Persist in 2026
Dow Inc., one of the world’s largest producers of petrochemicals, expects supply disruptions tied to the war in Iran to persist throughout the remainder of 2026, according to Chief Executive Officer Jim Fitterling. “The conflict in the Middle East has created...
Microsoft Offers Buyouts to About 7% of US Workers
Microsoft Corp. is offering voluntary retirement to thousands of its employees in the US. About 7% of the US workforce will be eligible for the buyouts, according to a person familiar with the planning. Microsoft has never previously done buyouts of this scale, said...
Goldman Issues Stark Message on S&P 500
AI-linked stocks now make up nearly 45% of the S&P 500, a rise that shows how far the market has leaned into the artificial intelligence trade since late 2022, according to a Wednesday Goldman Sachs note. Nvidia (NASDAQ:NVDA) and other large AI names have helped...
Dip Buyers Are Running Back to Stocks Despite $100 Oil
The reflex to buy stocks is kicking back into gear.Market Snapshot Brent crude oil futures $104.02 +2.1% S&P 500 futures 7,134.00 -0.5% Stoxx Europe 600 Index 611.11 -0.5% South Korea Kospi Index 6,475.81 +0.9% US 10-year Treasury yield 4.32% +0.02 Market data as...
India Contracts Fertilizer at Nearly Double Pre-War Price
India, the world’s top importer of urea, has booked the nitrogen-based fertilizer at sharply higher prices than in a previous tender as the Middle East conflict disrupts supplies and pushes global benchmarks higher. Indian Potash Ltd., which imports the crop nutrient...
Wall Street Group Urges SEC to Lift Private Asset Trading Ban
Lobbyists for some of Wall Street’s biggest alternative asset managers are asking regulators to relax rules preventing the buying and selling of assets between funds overseen by the same company, a move they say will boost the adoption of private assets in retirement...
US Gasoline Prices Likely Peaked Last Week, Energy Secretary Wright Says
The surge in US gasoline prices from the Iran war appears to have crested, Energy Secretary Chris Wright said. “It looks like they peaked about a week or so ago,” Wright said during testimony before a Senate committee on Tuesday. The 35% jump US gasoline prices over...
Pentagon Seeks $75 Billion for Drones in Record Budget Ask
The Pentagon’s largest-ever budget request earmarks $75 billion for drones and technologies to counter them, mainly for a massive increase for a little-known office working with US commandos to test and evaluate various systems, according to defense officials. The...
Oil Traders Warn of Recession Impact as Hormuz Hits Demand
The world’s top oil traders warned that the ongoing closure of the Strait of Hormuz is increasing the risk of a global recession as fuel demand takes a hit. The vital energy channel has been largely closed to non-Iranian shipping since war began at the end of...
Trump Says Currency Swap With UAE Is Under Consideration
US President Donald Trump said a currency swap with the United Arab Emirates is under consideration, as the Gulf state floats the prospect of financial assistance to weather the fallout from the Iran war. “It is,” Trump said Tuesday on CNBC when asked if the...
Wall Street fears ‘too much optimism’ about Iran war as stocks hit record highs
Stocks are trading at record highs. But this new high-water mark for the benchmark S&P 500 (^GSPC) has not been met with resounding enthusiasm or relief. Investor sentiment data from the American Association of Individual Investors showed there were still more...
JPMorgan Lifts S&P 500 Target as AI Rally Regains Momentum
A renewed surge in enthusiasm for artificial intelligence will help drive US stocks to higher-than-expected levels this year, according to strategists at JPMorgan Chase & Co. The team led by Dubravko Lakos-Bujas has raised its year-end target for the S&P...
New Zealand Inflation Exceeds Forecasts, Spurring Rate-Hike Bets
New Zealand inflation unexpectedly held above the top of the Reserve Bank’s 1%-3% target last quarter, prompting markets to boost bets on a July interest-rate hike as the impact of an Iran-war driven surge in fuel prices is still to come. The currency and bond yields...
Insidious Inflation to DOOM Market & Economy
The oil price shock due to the Israel/USA Iran war led to my empirical research of the 1973 oil price shock which is widely considered t the first of many. My forte is to research extreme events and to find cause and then utilize findings to predict next similar...