Finance

Markets are closely monitoring the first Federal Open Market Committee meeting led by new Chair Kevin Warsh, which concluded on June 17, 2026. While the central bank is widely expected to maintain interest rates at current levels, investor focus has shifted toward updated economic projections and the possibility of future hikes rather than cuts. The Fed is navigating a complex environment where headline inflation remains elevated due to previous energy shocks, even as core price growth shows signs of cooling.

Crude oil benchmarks extended their losing streak, with West Texas Intermediate falling below $76 per barrel, its lowest level since early March. The decline is driven by an interim peace agreement between the U.S. and Iran that includes the reopening of the Strait of Hormuz and the immediate resumption of Iranian oil exports. This influx of supply is expected to ease global energy constraints, which had previously pushed petroleum prices and consumer inflation significantly higher earlier in 2026.

Following its recent initial public offering, SpaceX has rapidly ascended to become the fifth-largest company in the United States by market value, briefly surpassing Amazon and Microsoft during intraday trading. The aerospace company's valuation reached nearly $3 trillion, supported by a narrow public float and strategic moves such as the $60 billion acquisition of AI coding startup Cursor. Despite concerns over high valuation multiples, the stock has gained for multiple consecutive sessions, significantly impacting broad Nasdaq benchmarks.