Finance

In his first press conference as Federal Reserve Chair, Kevin Warsh oversaw a decision to maintain interest rates between 3.50% and 3.75% while projecting a possible hike later in 2026. The committee's updated 'dot plot' suggests a 'higher-for-longer' stance, with 9 of 19 officials now anticipating at least one more rate increase before the end of the year to combat persistent inflation.

Oil prices experienced a significant decline, with Brent crude falling over 5% to settle below $80 per barrel for the first time since early March. The sharp drop followed an interim peace agreement that reopened the Strait of Hormuz and established sanctions waivers for Iranian oil sales, easing global supply concerns.

The artificial intelligence sector continues to bolster corporate results, with technology firms seeing earnings growth near 60% as capital spending on data centers and chips ramps up. Significant individual movers include Jabil, which raised its annual forecast due to robust AI demand, and Astera Labs, which saw double-digit gains ahead of its inclusion in the Nasdaq-100 Index.