Wall Street advanced as investors welcomed a fragile truce with Israel and Iran while parsing Federal Reserve Chair Jerome Powell’s congressional testimony for clues regarding the U.S. central bank’s path forward. Global shares were on track for a second straight day of gains with oil prices plummeting further as market sentiment was lifted by the easing of Middle East tensions, after Israel and Iran agreed to a ceasefire.
The euro zone economy flatlined for a second month in June, barely expanding as the bloc’s dominant services industry showed only a small sign of improvement and manufacturing displayed none at all, a survey showed.
Tesla shares jumped after the electric-vehicle maker started testing its long-awaited robotaxi service, a key step toward proving the technology that CEO Elon Musk has for years touted as a crucial driver of its lofty valuation.
Oil prices tumbled $5 a barrel after Iran attacked a U.S. military base in Qatar in retaliation for U.S. attacks on its nuclear facilities at the weekend, and took no action to disrupt oil and gas tanker traffic through the Strait of Hormuz.
Apple was sued on Friday by shareholders in a proposed securities fraud class action that accused it of downplaying how long it needed to integrate advanced artificial intelligence into its Siri voice assistant, hurting iPhone sales and its stock price.
BlackRock’s spot Bitcoin exchange-traded fund is nearing the $70 billion mark in assets under management, signaling growing interest from institutional investors even as retail inflows appear to be slowing.
