Finance

In his first meeting as Chairman, Kevin Warsh led the Federal Reserve to maintain interest rates at 3.50-3.75% while signaling a potential for future hikes. The updated 'dot plot' revealed that nearly half of the committee members now anticipate at least one rate increase by the end of 2026, a significant shift from previous projections.

Intel shares surged nearly 9% in premarket trading following news of a domestic chip-design partnership with Apple. This development has sparked a broader rally across the semiconductor industry, with major players like Nvidia and Micron also seeing gains as the AI infrastructure buildout continues to drive capital spending.

Global oil prices are sliding as the de-escalation of the U.S.-Iran conflict eases supply concerns regarding key shipping routes. This decline is filtering through to the domestic economy, with the national average price for a gallon of gasoline officially dropping below the $4 mark for the first time since April.