Stock futures are ticking higher as the market looks to add to the big gains posted on Monday following news of an Iran peace deal; ***** eX shares are poised to climb for the another session after the company's record-setting Friday IPO; the Fed will kick off its two-day meeting on interest rates; world leaders are meeting in France, with discussions focused on the next steps in securing peace in the Middle East; and GM is reportedly in talks to supply Lockheed Martin with parts for weapons. Here's what you need to know today.
Stock futures are slightly higher this morning after major indexes soared to start the week following news of a deal to end the Iran war. Futures tied to the Dow Jones Industrial Average and the tech-heavy Nasdaq were up 0.2% recently, while S&P 500 futures added 0.1%. The Nasdaq surged 3% yesterday, led by huge gains for chip stocks, while the S&P 500 climbed 1.7% and the Dow rose nearly 500 points to a record closing high. WTI crude oil futures, the U.S. benchmark, were down nearly 3% to $78.50 per barrel, adding to the previous session's declines amid hopes that the Strait of Hormuz will reopen with the peace agreement. Gold futures were up 0.4% at $4,370 an ounce, while bitcoin was holding steady at $66,500. The yield on the 10-year Treasury note, which affects interest rates on loans, fell to a one-month low of 4.44%, from 4.48% at yesterday's close.
SpaceX stock (SPCX) is on track to post big gains for the third straight session since carrying out the biggest IPO ever. Shares of Elon Musk's rocket, connectivity and AI company were up roughly 10% ahead of Tuesday's opening bell, after jumping 20% yesterday. ***** eX on Tuesday announced the acquisition of Anysphere, the parent company of AI coding agent Cursor, for $60 billion. ***** eX, which owns the Grok chatbot through its xAI business, had announced in April that it was working with Cursor and had the right to purchase the startup later in the year. ***** eX, which through yesterday's close had a market capitalization of $2.5 trillion, is on track to overtake Amazon (AMZN), with a market cap of $2.6 trillion, at number five on the list of the most valuable companies in the U.S.
The Federal Reserve's policy committee is scheduled to begin a two-day meeting Tuesday, with new Fed Chair Kevin Warsh presiding for the first time. Warsh, who took over the top spot after Jerome Powell's term as chair expired last month, faces the challenge of controlling inflation, which hit a three-year high in May amid surging fuel prices stemming from the Iran war. The Fed is widely expected to leave its benchmark rate unchanged at this week's meeting, but market participants are pricing in the likelihood that the central bank will need to raise rates later in the year. The Fed's decision is scheduled to be released Wednesday afternoon, along with quarterly economic projections from policy committee members. Investors will be particularly eager to hear what Warsh has to say at the
Stock futures are slightly higher this morning after major indexes soared to start the week following news of a deal to end the Iran war. Futures tied to the Dow Jones Industrial Average and the tech-heavy Nasdaq were up 0.2% recently, while S&P 500 futures added 0.1%. The Nasdaq surged 3% yesterday, led by huge gains for chip stocks, while the S&P 500 climbed 1.7% and the Dow rose nearly 500 points to a record closing high. WTI crude oil futures, the U.S. benchmark, were down nearly 3% to $78.50 per barrel, adding to the previous session's declines amid hopes that the Strait of Hormuz will reopen with the peace agreement. Gold futures were up 0.4% at $4,370 an ounce, while bitcoin was holding steady at $66,500. The yield on the 10-year Treasury note, which affects interest rates on loans, fell to a one-month low of 4.44%, from 4.48% at yesterday's close.
SpaceX stock (SPCX) is on track to post big gains for the third straight session since carrying out the biggest IPO ever. Shares of Elon Musk's rocket, connectivity and AI company were up roughly 10% ahead of Tuesday's opening bell, after jumping 20% yesterday. ***** eX on Tuesday announced the acquisition of Anysphere, the parent company of AI coding agent Cursor, for $60 billion. ***** eX, which owns the Grok chatbot through its xAI business, had announced in April that it was working with Cursor and had the right to purchase the startup later in the year. ***** eX, which through yesterday's close had a market capitalization of $2.5 trillion, is on track to overtake Amazon (AMZN), with a market cap of $2.6 trillion, at number five on the list of the most valuable companies in the U.S.
The Federal Reserve's policy committee is scheduled to begin a two-day meeting Tuesday, with new Fed Chair Kevin Warsh presiding for the first time. Warsh, who took over the top spot after Jerome Powell's term as chair expired last month, faces the challenge of controlling inflation, which hit a three-year high in May amid surging fuel prices stemming from the Iran war. The Fed is widely expected to leave its benchmark rate unchanged at this week's meeting, but market participants are pricing in the likelihood that the central bank will need to raise rates later in the year. The Fed's decision is scheduled to be released Wednesday afternoon, along with quarterly economic projections from policy committee members. Investors will be particularly eager to hear what Warsh has to say at the
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