Finance

Crude oil prices have retreated from their recent highs after the signing of an interim agreement to reopen the Strait of Hormuz to tanker traffic. Brent crude futures dropped significantly to trade near $80 per barrel, easing some global concerns over energy-driven inflation and supply disruptions.

The initial public offering of SpaceX has significantly boosted the 2026 IPO market, with the company's valuation briefly surpassing Amazon's shortly after listing. This activity is part of a broader trend where major firms like Alphabet are raising record-breaking amounts of capital through equity markets.

The S&P 500 has maintained year-to-date gains of approximately 7.7%, primarily driven by massive capital spending in the artificial intelligence sector. While broader markets reacted negatively to the Fed's hawkish tone, technology stocks like Intel and chipmakers have seen selective rallies due to strategic collaborations and AI data center expansion.