Finance

Markets are focused on the first Federal Reserve policy meeting chaired by Kevin Warsh, with a near-certain expectation that interest rates will remain held between 3.50% and 3.75%. Although a hold is anticipated today, traders are closely monitoring the committee's updated economic projections for signals regarding potential policy shifts later in the year amid persistent inflation concerns.

Oil prices have experienced a significant downturn, with Brent crude dropping below $80 per barrel for the first time since early March. This decline is largely attributed to a tentative U.S.-Iran agreement aimed at reopening the Strait of Hormuz, which has helped strip the war-related risk premium from the forward curve and eased immediate supply disruption fears.

Following its recent initial public offering, SpaceX has rapidly climbed the ranks of the most valuable U.S. companies, briefly surpassing Microsoft and ending a session with a market cap exceeding that of Amazon. The company was quickly integrated into major Nasdaq benchmarks, though analysts anticipate continued volatility as more shares become available for trading post-listing.