Finance

Crude oil prices experienced a significant sell-off, with West Texas Intermediate futures sliding nearly 5% to approximately $80.75 per barrel. The decline was driven by a memorandum of understanding to end military confrontations, which had previously blocked a waterway responsible for nearly one-fifth of global seaborne oil.

As the Federal Reserve enters its June 2026 policy meeting, market expectations for a rate cut remain low, with the benchmark rate likely to stay between 3.5% and 3.75%. This session marks the first under a new Chair, and while geopolitical de-escalation may ease long-term inflation, economists expect officials to wait for more concrete economic data before shifting their stance.

The initial public offering of SpaceX has reshaped market sentiment, with the stock surging nearly 20% following its recent debut. This landmark listing coincided with a broader risk-on rally that benefited other tech giants, particularly those linked to artificial intelligence infrastructure.