Finance

Global oil prices weakened as ongoing diplomatic talks between the United States and Iran progressed toward a potential 60-day roadmap for a final agreement. Brent crude fell to approximately $79 per barrel, providing a notable boost to airline stocks while weighing on heavyweights in the energy sector.

The benchmark two-year Treasury yield rose above 4.22% on June 22 as investors priced in an increased likelihood of a Federal Reserve rate hike by September. Markets are reacting to recent FOMC projections where a majority of officials now expect interest rates to remain elevated through the end of 2026.

Shares of SpaceX fell as much as 4.6% in premarket trading on June 22, continuing a period of sharp volatility after its recent initial public offering. Despite the recent slide, the company briefly surpassed Microsoft and Amazon in market capitalization after its shares initially surged 67% from their offering price.