Business News

Wall Street is bracing for a sharp inflation reading Wednesday morning as the Bureau of Labor Statistics releases its May consumer price index report at 8:30 a.m. ET. The Dow Jones consensus projects the CPI will show inflation running at a 4.2% annual rate, driven by an expected 0.5% monthly gain in May. That reading…

More than three months after the Strait of Hormuz was effectively blocked, oil markets have defied the worst predictions, staying below $100 a barrel despite catastrophic supply disruptions. Industry forecasts once warned prices could spike as high as $200, but a combination of temporary workarounds has so far absorbed much of the shock from the…

The Social Security retirement trust fund is now projected to be depleted in the fourth quarter of 2032, according to the latest trustees’ report released Tuesday. That date is several months earlier than last year’s estimate, reflecting a notable acceleration in the program’s financial deterioration. Once the trust fund is exhausted, Social Security would only…

Apple’s next-generation Siri assistant will require at least 12 gigabytes of unified memory to run, setting the stage for a sweeping device upgrade cycle. The memory requirement effectively locks out millions of existing iPhone and Mac users from accessing Apple’s most advanced AI features without purchasing new hardware. Analysts and market observers believe this hardware…

Several exchange-traded funds that built early private-market positions in SpaceX have seen dramatic asset growth ahead of the company’s highly anticipated public listing. Four funds in particular attracted a combined $7.9 billion in net inflows due to their existing private SpaceX holdings, signaling enormous investor appetite for pre-IPO exposure. The funds drawing the most attention…

May’s CPI report is due Wednesday morning, with economists forecasting year-over-year inflation to climb from 3.8% to 4.2%, the highest reading since April 2023. The April Consumer Price Index already rattled markets, rising a seasonally adjusted 0.6% for the month and putting the one-year pace at 3.8%, the highest annual headline rate since May 2023….

Grandparents looking to give their grandchildren a lasting financial head start have a powerful tool at their disposal: the custodial Roth IRA. This account works similarly to a standard Roth IRA, but because minors cannot legally hold their own accounts, a grandparent or other adult serves as custodian. The custodian manages the account on the…

Oracle’s stock has been one of Wall Street’s most dramatic AI-driven stories, but investors now want hard proof the company can back up the hype. Shares of Oracle (ORCL) surged 71% over the past three months as investors piled into the company’s cloud infrastructure narrative and its deepening role in AI workloads. The company reports…

Jennifer Aniston’s boyfriend Jim Curtis has delisted his New York City condo just over four months after originally putting the property up for sale at $1.53 million. Curtis, 50, who works as a professional lifestyle guru, purchased the 1,200-square-foot Manhattan condo for just under $1.3 million back in 2015. In the years following his purchase,…

British drugmaker GSK has agreed to acquire U.S.-listed oncology specialist Nuvalent in an all-cash deal valued at $10.6 billion. The transaction values Boston-based Nuvalent at approximately $124 per share, representing a 40% premium to its last closing price. Net of cash acquired, GSK’s aggregate investment is estimated at $9.4 billion, with the deal primarily funded…