Finance

The Federal Open Market Committee is widely expected to keep interest rates steady between 3.50% and 3.75% during Kevin Warsh's debut meeting as Fed Chair. Investors are closely monitoring the updated 'dot plot' and the chairman's press conference for clues on whether the central bank will maintain its pause or consider hikes due to persistent inflation pressures.

Brent crude plummeted more than 5% to trade below $80 per barrel, reaching its lowest level since early March. The sharp decline followed reports of a memorandum of understanding between the U.S. and Iran to end their months-long conflict and restore oil flows through the Strait of Hormuz.

Elon Musk's SpaceX continued its strong performance since its recent public debut, with its market capitalization briefly surpassing Microsoft to become the fifth-most valuable company in the U.S. The stock's rise was further fueled by the announcement of a $60 billion deal to acquire the AI-coding startup Cursor.