Finance

Oil prices continued their downward trend, with Brent crude falling below $90 a barrel for the first time in several months. Market strategists noted that the potential reopening of the Strait of Hormuz has significantly deflated the risk premium that had previously pushed energy costs higher.

The equity markets are preparing for the largest IPO in history as SpaceX aims for a valuation near $2 trillion. The anticipated Nasdaq listing is exerting significant pressure on liquidity as institutional and retail investors shift capital toward the aerospace giant's public offering.

Producer prices rose 6.5% year-on-year in May, exceeding economist expectations and highlighting persistent inflationary pressures. Despite a recent retreat in Treasury yields, the hot data has led many market participants to speculate that the central bank's next major move may be a rate hike rather than a cut.