Business News

Companies across the technology sector are discovering that the financial case for replacing human workers with artificial intelligence is far shakier than executives once believed. The cost of running advanced AI systems has grown dramatically as firms shift toward agentic AI tasks, which are more complex and significantly more expensive to execute than earlier automation…

U.S. employers added 172,000 jobs in May, far exceeding the roughly 88,000 economists had anticipated, sending shockwaves through financial markets. The unemployment rate held steady at 4.3%, offering little comfort to investors who were already on edge about the trajectory of Federal Reserve policy. Markets responded swiftly and sharply, with growth and technology stocks bearing…

America’s crude oil inventories are falling at an alarming rate, driven by ongoing disruption to oil flows through the Strait of Hormuz amid the war involving Iran. The Energy Information Administration reports that U.S. petroleum inventories have plunged to their lowest levels since 2004, raising urgent questions about supply security. Commercial crude inventories fell by…

SpaceX is preparing to go public at a valuation that would instantly rank it among the largest companies in the United States by market capitalization. The company plans to sell 555.6 million Class A shares at a fixed price of $135 each, placing its valuation at roughly $1.77 trillion upon arrival. That figure would make…

New Fed Chair Kevin Warsh heads into his first Federal Open Market Committee meeting on June 16–17 under growing pressure from within the central bank itself. Warsh took the helm widely expected to steer the Fed toward lower interest rates, but the policy landscape has shifted sharply in recent weeks. Multiple Fed officials have publicly…

The semiconductor sector endured its most brutal single-day rout in six years on June 6, 2026, dragging major indexes sharply lower across Wall Street. The iShares Semiconductor ETF dropped 10% on the day, marking its worst performance since March 2020, as panic selling swept through the once-dominant chip trade. Marvell Technology (MRVL) fell more than…

Bitcoin is struggling to attract fresh capital as momentum-driven traders shift their attention toward artificial intelligence stocks and anticipated IPOs. Jim Ferraioli, Director of Digital Currencies Research and Strategy at Charles Schwab, says the cryptocurrency’s recent underperformance has little to do with fading institutional demand. Instead, Ferraioli argues that bitcoin has simply lost its standing…

Friday’s brutal selloff wiped $1.8 trillion from the S&P 500 (SPX) as a collapse in semiconductor shares sent shockwaves across Wall Street’s major indexes. The Nasdaq Composite fell 1,121.53 points, or 4.18%, to 25,709.43, marking its worst single session since April 2025. The S&P 500 shed 200.57 points, or 2.64%, closing at 7,383.74, its steepest…

Streaming services are largely stepping back in June 2026, ceding primetime real estate to the FIFA World Cup, the most-watched sporting event on the planet. A handful of major exceptions are mounting a challenge, including HBO’s “House of the Dragon,” Apple TV+’s “Cape Fear,” and Hulu’s “The Bear,” which each carry significant audience expectations heading…

The U.S. stock market suffered its worst single day since October as a sweeping sell-off in major technology companies dragged down the broader market. A stronger-than-expected jobs report intensified fears that the Federal Reserve could be forced to raise interest rates at some point this year. The S&P 500 dropped 2.6%, marking its steepest one-day…