Business News Archives for 2026-06

AM Business Notebook 

For: June 26, 2026 

>>Trading Week Winding Down 

(New York, NY)  --  The opening bell rings this morning on Wall Street following a mixed day of trading.  Shares of Apple fell Thursday after the tech giant raised prices on several of its signature products, including the MacBook Neo, MacBook Air, iMac, and iPad product lines.  At the closing bell, the Dow Jones Industrial Average added 71 points to 51-920.  The S&P 500 lost less than a point to 73-57.  The tech-heavy Nasdaq fell 118 points to 25-358.

 

>>Inflation Hits Highest Level In 3 Years 

(Washington, DC)  --  Annual inflation is at its highest level in three years. According to the personal consumption expenditures price index released by the Commerce Department Thursday, the Federal Reserve's primary inflation gauge showed an annual rate of four-point-one percent.  That's the highest since April 2023.  However, even with the elevated inflation levels, consumer spending for the month came in stronger than expected as personal consumption expenditures rose by zero-point-seven percent.  The report comes a little more than a week after the Fed and its new Chairman Kevin Warsh delivered what markets widely viewed as a tough talk on rates and inflation.

 

>>Meta And Qualcomm To Team Up

(San Diego, CA)  --  Meta is teaming up with Qualcomm on artificial intelligence. CEO Mark Zuckerberg says the goal is to build what he calls "personal superintelligence" for people around the world.  San Diego-based Qualcomm will supply chips for Meta data centers, starting with its new Dragonfly C1000 processor expected to ship in 2028. The deal makes Meta the company's first major data center customer as it moves beyond smartphones.  Qualcomm is pushing into AI and data centers as it prepares for its Apple contract to end in 2027. 

 

>>Zillow Study Says Homes Are Getting More Expensive 

(Undated)  --  A record number of cities across the U.S. now have starter homes valued at one-million dollars.  According to Zillow, 242 cities across 26 states have housing markets with that price tag as the entry point for homeownership.  California has the most cities on that list with 105, and the second on that list is New York, with 42 cities.  New Jersey, Florida, and Massachusetts round out the top five.  A million-dollar starter home, fortunately, is not the norm, with the average home price across the country just under 200-thousand dollars. 

 

AM Business Notebook 

For: June 25, 2026

>>Ahead Of The Bell 

(New York, NY)  --  The opening bell rings this morning on Wall Street after stocks closed mixed yesterday.  It came as oil prices have been on the decline, with West Texas Intermediate futures falling below 70 dollars for the first time since March 2nd.  International benchmark Brent crude futures has also fallen.  At the closing bell, the Dow Jones Industrial Average added 182 points to 51-848.  The S&P 500 lost 7 points to 73-58.  The Nasdaq fell 110 points to 25-476.

 

>>Trump Requests DOJ Probe Into Gas Price 'Gouging'

(Washington, DC)  --  President Trump is instructing the Department of Justice to investigate oil companies for alleged price gouging.  The president targeted what he said was big oil companies in a post on Truth Social where he asserted that "customers are being 'gouged.'" Trump's post did not name specific companies, but he said the companies "are not dropping their price at the pump commensurate with the sharply lower prices they are paying for oil." Now the president is calling for a probe into the matter, while warning, "gasoline prices better start going down a lot faster than what I'm seeing!"

 

>>Monticello Event Celebrates Declaration Of Independence Quarter

(Charlottesville, VA)  --  The U.S. Mint is celebrating the release of new quarters featuring the Declaration of Independence.  Officials held an event at Monticello yesterday to help publicize the new quarters ahead of America's 250th anniversary.  The mint also announced that 250 thousand quarters bearing a special "July 4th" mark will be mixed in with the other Declaration of Independence quarters placed into circulation.  Mint Director Paul Hollis said he hoped the special coins would help Americans reflect on their history during this year's anniversary celebrations.

 

>>Rockstar Games Reveals "GTA VI" Pricing

(New York, NY)  --  The price for the long-anticipated "Grand Theft Auto VI" video game has been revealed.  Rockstar Games announced it will cost gamers 80-dollars to buy the basic single-player version of the game.  Meanwhile, "Grand Theft Auto VI: Ultimate Edition" will set fans back a hundred bucks.  Preorders for the game open today.  The game is set to drop on November 20th.

AM Business Notebook 

For: June 24, 2026

>>Ahead Of The Bell 

(New York, NY)  --  The opening bell rings this morning after stocks closed lower as a tech selloff picked up steam yesterday.  Shares of Micron Technology dropped more than ten percent with Marvell and Sandisk also falling sharply.  Alphabet added to the downward pressure although stocks trimmed some losses in late trading.  At the closing bell, the Dow Jones Industrial Average lost 45 points to 51-666.  The S&P 500 fell 107 points to 73-65.  The Nasdaq dropped 579 points to 25-587.

 

>>Google Invests $75 Million In A24 For AI-Powered Filmmaking Tools

(New York, NY)  --  Google is investing 75-million-dollars in film studio A24 to develop AI-powered filmmaking tools.  The two sides have agreed to a deal that will have the studio work with Google's DeepMind unit.  It will give A24 access to AI research and infrastructure, while DeepMind's researches will create new workflows with the studio.  The deal doesn't include access to A24's content library.   

 

>>Florida Attorney General Probes CVS Monopoly Allegations

(Miami, FL)  --  Florida's Attorney General is demanding the CVS pharmacy chain prove it is not monopolizing the market.  James Uthmeier [[ UHTH-my-yer ]] says the state has subpoenaed CVS documents and contracts after complaints from independent pharmacists that they are being forced out of business.  He says CVS has until July 26 to respond. Independent pharmacists claim CVS and its pharmacy benefit manager Caremark branch unfairly administers prescription drug plans for insurers, employers, and government programs, driving up costs, limiting access to medications, and funneling patients to CVS pharmacies. Congress has also been looking into the business practices of CVS.

 

>>Lucid Cutting 18 Percent of Workforce

(Newark, CA)  --  Lucid is set to cut around 18 percent of its workforce.  That's according to a filing with the SEC with the electric vehicle maker saying the move will save the company nearly 160-million dollars. It affects full-time employees, contractors and hourly production workers - including around 700 people employed at it's Arizona factory.  Lucid intends to complete the plan the by the end of this year's third quarter.

 

AM Business Notebook

For: June 23, 2026

>>Ahead Of The Bell

(New York, NY) -- The opening bell rings this morning on Wall Street after stocks closed mostly lower as tech stocks slid to start the week. Shares of Alphabet, Amazon and Meta Platforms fell on concerns about artificial intelligence. Easing oil prices took some pressure off markets as investors weighed the latest developments in the Iran war negotiations. At the closing bell, the Dow Jones Industrial Average gained 148 points to 51-712. The S&P 500 lost 27 points to 74-72. The Nasdaq dropped 351 points to 26-166.

 

>>Amazon's Prime Day Event Arrives

(Undated) -- Amazon's big Prime Day event starts today. It's one of the biggest shopping events of the year and competition is fierce, especially for the Lightning Deals, or flash sales that are only available for a few hours. Prime Day runs through the 26th.

 

>>Senate Approves Housing Affordability Bill

(Washington, DC) -- The Senate is approving a massive housing affordability bill with the goal of lowering prices. The bill was approved 85-5 on Monday in a rare overwhelmingly bipartisan vote. The bill would cut away some of the red tape and make it easier to build homes, while also put limits on institutional investors buying up houses. It now goes to the House for a vote.

 

>>Report: Advanced AI Will Create New Cyber Threats

(Undated) -- Emerging advanced artificial intelligence has the ability to take hacking to the next level, and defending against it requires action now. That's according to a new assessment from the "Five Eyes," the collective intelligence agencies of the U.S., the U.K., Canada, Australia and New Zealand. The assessment, out Monday, warns that new AI models will exceed industry expectations, fundamentally transforming cyber security. Being prepared can't take years, the report said, but months at most.

 

>>Chevron To Power Data Center With Natural Gas

(Reeves County, TX) -- A giant Microsoft data center in West Texas will be powered with natural gas under a 20-year deal with Chevron. The data center is projected to use as much power as two-million homes, according to today's announcement. Chevron is working with GE and Caterpillar to provide the needed infrastructure by 2028. 

AM Business Notebook  

For: June 22, 2026

>>Watching Wall Street

(New York, NY)  --  The opening bell rings this morning after the holiday-shortened trading week wrapped up early on Thursday with stocks solidly in the green.  At the closing bell, the Dow Jones Industrial Average added 72 points to 51-564.  The S&P 500 gained 80 points to 75-00.  The Nasdaq rose 496 points to 26-517.

 

>>Amazon Prime Day June 23-26

(Seattle, WA)  --  Amazon's Prime Day sales event is almost here.  It runs this year from June 23rd through the 26th.  It's a little earlier than usual as the company usually holds Prime Day in July.  Amazon says groceries and household items will be a big focus for savings.

 

>>Ubisoft's Co-Founder Claude Guillemot Dies In Plane Crash 

(Paris)  --  The co-founder of the French video-game publisher Ubisoft has died.  The company said Saturday that Claude Guillemot [[ GIL-uh-mot ]] died Friday in a plane crash in La Baule, a resort town on France's Atlantic coast.  According to newspaper Ouest-France, the city was scheduled to host an air show this weekend,   The outlet said Guillemot was one of two people aboard the twin-engine Cessna 421 when it went down killing both of them.  He helped make Ubisoft into the world's largest video game companies and later serving as chair of the family's Guillemot  Corporation. 

 

>>TX Supreme Court Rejects Effort To Block Beach Closures For SpaceX Launches

(Austin, TX)  --  The Texas Supreme Court is rejecting an effort to block beach closures during SpaceX rocket launches.  The high court ruled unanimously on Friday that environmental groups don't have the right to sue to keep public access open to a beach that's been closed for a launch.  In 2021, an environmental group called Save RGV sued the General Land Office and Cameron County, Texas over the closure of Boca Chica Beach and its only access via State Highway 4 during SpaceX launches.  A trial judge had previously dismissed the lawsuit with prejudice, and the state Supreme Court upheld that decision.  

 

>>Fake FIFA Sites Stealing Private Information

(Undated)  --  The FBI is warning soccer fans of fraudulent websites impersonating FIFA as the World Cup continues.  In a PSA, the FBI says cybercriminals are using fake domains to sell counterfeit tickets and steal personal information.  Scammers often rely on a tactic known as "typosquatting," where they register website domains that closely resemble legitimate addresses, but it relies on internet users to make common typo mistakes.  Officials advised users to verify website URLs before entering sensitive information, and to navigate directly to FIFA's official website by typing it into their browser rather than relying on search engine results. 

 

>>McDonald's Brings Back Fried Apple Pie 

(Chicago, IL)  --  McDonald's is bringing back a nostalgic desert.  The fast-food chain announced that its fried apple pie will return to participating locations on June 23rd for a limited time.  The desert features apple pie filling made with American-grown apples wrapped inside a fried crust.  It first appeared on McDonald's menu in 1968.  

 

AM Business Notebook 

For Friday, June 19th, 2026

>>Wall Street Closes With Stocks Higher

(New York, NY)  --  Wall Street closed with stocks higher Thursday. Intel has been leading chip stocks after President Trump announced the company and Apple will be partnering to designing chips in the U.S. Markets will be closed on Friday to observe the Juneteenth holiday.  At the closing bell, the Dow Jones Industrial Average added 72 points to 51-564.  The S&P 500 gained 80 points to 75-00.  The Nasdaq rose 496 points to 26-517.

 

>>First Time Since March Gas Falls Below $4

(Undated) --  Falling gas prices are bringing some relief to consumers after months of elevated prices due to the conflict with Iran. According to motor club AAA data, gas prices have fallen below four dollars per gallon for the first time since March. While prices have dropped sharply from this year's peak at four-dollars and 56-cents to three-dollars and 97-cents, the cost is still more than 34 percent higher than before the U.S. and Israel launched the war in February. The drop in retail gas prices is thanks to tumbling oil prices, but experts are cautious about how much further prices can fall.

 

>>California's Billionaires Tax Will be On November Ballot

(Sacramento, CA)  --  A highly debated proposal to tax California's billionaires will appear on the November ballot.  The proposal would charge a one-time five-percent tax on people with a net worth over one-billion-dollars. The tax would apply to anyone living in California as of January 1st of this year.  Billionaires would have to pay the tax in 2027, or they could choose to pay it over five years at a higher total amount.  Most of the money raised would go to health care programs run by the state.  With roughly 255 billionaires in the state, experts say the tax could raise tens of billions of dollars.  Critics argue that amount is uncertain and say the tax may drive wealthy residents out of California ultimately reducing state revenue.

 

>>Weekly Jobless Claims Down Slightly

(Washington, DC)  --  Over a quarter of a million Americans found themselves filing for first-time unemployment benefits last week.  The Labor Department says it received 226-thousand initial claims in the week ending June 13th.  That's about four-thousand less than the previous week's revised total and basically in line with what most analysts were expecting today.

 

>>Gemini AI Leader Leaves Google To Join OpenAI

(San Francisco, CA)  --  A top leader for Gemini AI is leaving the company and joining OpenAI.  Google's vice president of engineering, Noam Shazeer, made the announcement Wednesday on X.  Shazeer posted, "It was a difficult decision to move," and he was proud of the work he did at Google.  Shazeer had left Google back in 2021 to begin the startup CharacterAI, and returned to Google in 2024 to help lead its DeepMind AI unit.

 

>>Federal Court Gives Ohio Green Light To Restrict Social Media From Kids

(Cincinnati, OH)  --  A federal court is giving Ohio permission to restrict childrens' use of social media.  The 6th U.S. Circuit Court of Appeals on Thursday overturned a ruling which put Ohio's parental-consent law on hold, and found the law did not violate free speech protections guaranteed by the First Amendment.  The law had been put on hold at the request of the tech industry trade group NetChoice, which said it "remains fully confident" that the law will ultimately be struck down. The ruling comes as countries around the world have started restricting children's access to ?social media over mental health concerns.

 

AM Business Notebook 

For: June 18, 2026

>>Ahead Of The Bell 

(New York, NY)  --  The opening bell rings this morning after stocks closed lower on Wall Street Wednesday.  It comes after the Federal Reserve left interest rates unchanged for the fourth straight time. The decision marks the first with new Federal Reserve Chairman Kevin Warsh at the helm after he replaced Jerome Powell.  At the closing bell, the Dow Jones Industrial Average lost 507 points to 51-492.  The S&P 500 fell 91 points to 74-20.  The Nasdaq dropped 354 points to 26-021.

 

>>Warsh: Focused On Monetary Policy, Not Long-Term Projections

(Washington, DC)  --  New Federal Reserve Chairman Kevin Warsh says he's focused on getting monetary policy right.  Following the Fed's announcement that it's leaving interest rates unchanged, Warsh said the U.S. economy is expanding, despite the ongoing Iran war.  Warsh said unlike his predecessor Jerome Powell, he will not provide long-term rate and economic projections, but will give what he calls medium-projections, which he says point towards positive U.S. growth.  Investors took note that while Warsh wouldn't speculate on future rate hikes, nine out of 18 fed officials saw a hike coming  by the end of the year.

 

>>Homebuilding Construction Tumbles In May

(Washington, DC)  --  New-home construction slid sharply in May as buyers and renters remain squeezed.  Fresh census figures show builders broke ground on 15-and-a-half percent fewer U.S. homes than in April.  The steepest drop came from apartment-style buildings, where new starts sank 41-and-a-half percent.  Builders also filed fewer permits for future projects.  The slowdown comes as builders face high mortgage rates, pricier materials, and a tougher search for land and labor.

 

>>Apple Raising Prices

(Cupertino, CA)  --  Apple is raising prices on its products because of the increasing costs of memory and storage chips.  CEO Tim Cook told the Wall Street Journal that the company has been trying to shield customers from price increases but the situation has become unsustainable.  Demand for the chips has skyrocketed alongside the growth of AI data centers.

 

>>Higher Prices Hit Used-Car Shoppers

(Richmond, VA)  --  Numbers released this week show used-car prices and financing are squeezing buyers.  CarMax says its average retail used-vehicle price rose by four-and-a-half percent from a year ago.  Its finance arm's average loan rate was eleven-point-three-percent, adding another hurdle for people priced out of new cars.  CarMax is reporting higher first-quarter revenue this week, even as profit slips at the used-car giant.

 

>>Alaska Airlines Flight Attendants Authorize Possible Strike

(Seattle, WA)  --  Flight attendants at Alaska Air Group's Horizon Air have voted to authorize a potential strike amid ongoing contract negotiations.  Union officials say workers approved the measure after months of bargaining that they contend has produced inadequate wage and benefit proposals.  The union is seeking higher pay, improved benefits, and changes to workplace rules for flight attendants.  Leaders say the vote does not automatically trigger a walkout but gives the union authority to call a strike if talks fail to progress.  The labor dispute comes as airlines across the industry continue negotiating contracts with employee groups seeking better compensation and working conditions.

 

AM Business Notebook 

For: June 17, 2026

>>Watching Wall Street 

(New York, NY)  --  The opening bell rings this morning after a mixed day of trading that saw the Dow Jones Industrial Average notch another record high as oil prices fell.  Investors rotated out of chip stocks sending the tech-heavy Nasdaq lower.  Oil prices extended their decline with Brent Crude futures dipping below 80 dollars a barrel.  Meanwhile, SpaceX continued to soar with shares up another four percent.  At the closing bell, the Dow Jones Industrial Average gained 328 points to 51-999.  The S&P 500 lost 42 points to 75-11.  The Nasdaq fell 307 points to 26-376. 

 

>>Fed To Announce Interest Rate Decision 

(Undated)  --  The Federal Reserve's latest interest rate decision is due today.  The Federal Open Market Committee ends a two-day policy meeting today with the first announcement on rates with new Fed Chairman Kevin Warsh at the helm.  Warsh, who replaced Jerome Powell, is scheduled to hold a press conference following word on the decision.

 

>>Senate To Consider Housing Bill

(Washington, DC)  --  The U.S. Senate will consider a bipartisan bill that would limit institutional investors' ability to buy up single-family homes.  Lawmakers voted Tuesday to move ahead after months of back-and-forth between House and Senate Republicans.  The bill aims to help lower costs of housing while increasing the supply.  A full Senate vote will likely come later this week.  It would then need to be approved by the House before it could get to President Trump's desk.

 

>>Big City Renting Better Than Buying

(Austin, TX)  --  Renting costs less than buying in most big U.S. cities, but the savings depend on where you live.  Realtor-dot-com says rents fell for the 34th straight month in May, but they are still 17-percent higher than before the pandemic.  Data from the real estate platform puts Austin, Texas at the top for renters saving the most compared with buying a starter home, and San Jose, California tops the list where that renting edge is fading the fastest.  Nationwide, Realtor-dot-com says buying a starter home costs an average of 920-dollars more a month than renting.

 

>>App Fees Swallowing Fast-Food Savings

(Tampa, FL)  --  Ordering fast food on a delivery app can run almost as much as a casual restaurant meal.  New data from restaurant pricing firm Revenue Management Solutions says those apps can turn a 10-dollar fast-food combo into a 27-dollar order.  The firm says fast-food prices on apps often run 15 to 30-percent higher than they do at the counter, and that's before service fees, delivery charges, and tip get stacked on top.  The firm says the add-ons wipe out the savings that make fast food feel cheap in the first place.

 

>>NRF Projects Record Father's Day Spending 

(Undated)  --  Americans are expected to spend big this Father's Day.  The National Retail Federation predicts a record 27-point-nine-billion-dollars will be spent on dads this weekend.  The most popular gifts are greeting cards, followed by clothing, a special outing and gift cards.

 

AM Business Notebook

For: June 16, 2026

>>Watching Wall Street

(New York, NY) -- The opening bell rings this morning after stocks closed sharply higher Monday on news of U.S-Iran peace deal. The Dow Jones Industrial Average hit a new record high as stocks surged and oil prices fell. SpaceX extended its rally with shares gaining nearly 20 percent to add further lift to the markets. At the closing bell, the Dow Jones Industrial Average gained 468 points to 51-671. The S&P 500 rose 122 points to 75-54. The Nasdaq climbed 795 points to 26-683.

 

>>Fox Agrees to Acquire Streamer Roku

(Undated) -- Fox is buying Roku for 22 billion dollars, or about 160 dollars per share. It's the latest chapter in the ongoing saga of media consolidation, as the industry deals with changes and challenges. The deal brings together Fox's news and sports channels, as well as streaming service Tubi, which it bought in 2020, with Roku. It's been about seven years since Fox made its last major move of this kind, when it sold its entertainment assets in a 71 billion dollar deal with Disney.

 

>>Fed To Announce Decision On Interest Rates Tomorrow

(Undated) -- The Federal Reserve's next interest rate decision looms. The Federal Open Market Committee opens a two-day policy meeting today with the announcement on rates coming Wednesday. It will be the first meeting with new Fed Chairman Kevin Warsh at the helm after he replaced Jerome Powell. While he has promised to bring "regime change" to the nation's central bank, it's expected that the key interest rate will remain unchanged for now.

 

>>California Has Some Of The Most Powerful Teachers Unions

(Sacramento, CA) -- California has some of the most powerful teachers unions in the country, ranking second after Vermont. According to a new study by the Thomas Fordham Institute, the strongest unions are in wealthier, Democratic-led states. The California Teachers Association and California Federation of Teachers represent over four hundred thousand members combined. California's teachers unions are considered the most powerful in politics and have a lot of influence. They spent the most on political ads and gave the second most to state political parties in recent years. California teachers earn the highest average salary and are among the most likely to strike. Those strikes and their outcomes are also often closely watched nationwide. 

 

AM Business Notebook 

For: June 15, 2026

>>Ahead Of The Bell  

(New York, NY)  --  The opening bell rings this morning after stocks finished higher to end the week on Friday.  SpaceX's record IPO launch helped boost investor confidence.  Shares in the re-usable rocket company jumped 19-percent on Friday, closing at around 161-dollars as SpaceX made its big Nasdaq debut.  SpaceX's total valuation is now above two-trillion-dollars and CEO Elon Musk can say he's the world's first trillionaire.  At the closing bell, the Dow Jones Industrial Average gained 353 points to 51-202.  The S&P 500 added 37 points to 74-31.  The Nasdaq rose 79 points to 25-888. 

 

>>Fed To Announce Decision On Interest Rates This Coming Wednesday   

(Undated)  --  Coming up in the business week ahead, the focus will be on the Federal Reserve's looming interest rate decision.  The Federal Open Market Committee opens a two-day policy meeting on Tuesday with the announcement on rates coming Wednesday.  It will be the first meeting with new Fed Chairman Kevin Warsh at the helm after he replaced Jerome Powell.  Warsh has promised to bring "regime change" to the nation's central bank, although it's expected that the key interest rate will remain unchanged for now. 

 

>>Anthropic Suspends All Access To Mythos

(San Francisco, CA)  --  AI company Anthropic has disabled customer access to its AI model Mythos after the government ordered it to suspend all use by foreign nationals.  That's according to a statement from Anthropic Friday evening.  The move is the latest in a series of Trump administration actions targeting the company.  The broad order regarding Anthropic's Mythos 5 and Fable 5 models is one of the furthest-reaching actions the government has taken in response to the capabilities of an AI model.  Anthropic says the government cited "national security issues" in the directive.

 

>>UAW Members Ratify Contract With American Axle, Ending Three Rivers Strike

(Three Rivers, MI)  --  United Auto Workers employees at American Axle in Three Rivers, Michigan have ratified a new contract after a strike that lasted two weeks.  The new deal raises pay for employees hired before May 31st, 2012 by eight-dollars an hour immediately and that restores the pay cut they agreed to in 2008 during the Great Recession.  It also raises pay to 30-dollars an hour by 2030 and has no health care concessions for the next four years.  The UAW also says they gained more paid days off with the new contract.

 

>>Porsche Turns 'Toys Story 5' Characters Into Cars 

(Los Angeles, CA)  --  Porsche has reimagined Disney and Pixar's "toy Story" characters into luxury vehicles.  The automaker unveiled three one-of-one Porsche 911 models inspired by Woody, Buzz Lightyear and Jessie at the Los Angeles world premiere of Disney and Pixar's "Toy Story 5."  The custom cars were created by Porsche's Sonderwunsch department, German for "special wishes," which serves as the company's personalization program.  They will be sold as part of a charitable program benefiting Big Brothers Big Sisters of America, the American Red Cross and Starlight Children's Foundation. Porsche also partnered with Goodyear on custom "Lightyear" tires. 

 

AM Business Notebook 

For: June 12, 2026

>>Trading Week Winding Down 

(New York, NY)  --  The opening bell rings this morning after stocks closed sharply higher yesterday.  That came after President Trump announced he was canceling planned U.S. strikes against Iran and said a peace deal may be agreed to soon.  At the closing bell, the Dow Jones Industrial Average gained 929 points to 50-848.  The S&P 500 climbed 127 points to 73-94.  The Nasdaq rose 640 points to 25-809.   

 

>>SpaceX IPO Today

(Starbase, TX)  --  SpaceX is about to launch the largest IPO ever.  The deal that could make Elon Musk a trillionaire happens today.  The re-usable rocket company is planning to sell more than 555-million shares of the company for 135-dollars a piece.  It values the company at more than one-point-seven trillion dollars.  As CEO, Musk will still retain more than 80 percent of voting power, however.  The shares will be listed on Nasdaq under the ticker SPCX.

 

>>Visa To Let AI Make Your Purchases

(San Francisco, CA)  --  Visa is working with OpenAI to let AI agents shop and purchase things on behalf of users.  The company announced its new partnership with OpenAI Wednesday.  It allows users to connect a Visa card to ChatGPT and get to work.  Limits can be set on how much the AI spends and where it can buy from.  Jack Forestell, chief product and strategy officer at Visa, gave the example of telling ChatGPT to find wireless headphones costing less than 150-dollars.  The AI would then find the item and buy it for you.  No word on the fees for this service.

 

>>Waymo Launches Premier Subscription Tier In Select Cities

(Undated) -- Waymo is launching a new subscription tier called Waymo Premier as it pursues an aggressive expansion plan. The service will cost 30-dollars a month, and it targets avid users in some of the most popular markets. According to a blog post from the Alphabet-owned company, the new subscription tier is invite only to start for select riders in San Francisco, Los Angeles and Phoenix. Subscribers can expect prioritized matching, up to five free cancellations per month and they'll earn ten percent back in loyalty credits or Waymo Cash for each trip.  

 

>>Choking Reports Prompt Baby Toy Recall

(Washington, DC)  --  A baby teething toy sold on Amazon is under recall after reports of children choking on them.  The Consumer Product Safety Commission said Thursday that LiKee [[ LEE - kee ]] Pull String Teething Toys violate federal toy rules.  The agency warns the silicone strings can reach the back of a child's throat and get stuck.  China-based ChilanTech has received several reports of breathing distress and choking.  CPSC says parents should take the toy away and ask the company for a free replacement.

 

>>Americans Are Avoiding Their Bank Balances

(Minneapolis, MN)  --  Almost one in three Americans are not checking their bank balances because of anxiety.  That's according to a U.S. Bank survey of over three-thousand adults.  Younger adults reported the sharpest money stress, with nearly half of Gen Z saying they avoid checking their accounts entirely.  Nearly three quarters of millennials reported high or moderate anxiety over checking and savings balances, while one in four adults said they would need ten-thousand dollars saved to avoid financial stress.
 

AM Business Notebook 

For: June 11, 2026

>>Ahead Of The Bell 

(New York, NY)  --  The opening bell rings this morning after stocks finished lower on Wall Street Wednesday.  At the closing bell, the Dow Jones Industrial Average lost 953 points to 49-918.  The S&P 500 fell 119 points to 72-66.  The Nasdaq dropped 509 points to 25-169.

 

>>Second Report On Inflation Due Today

(Undated)  --  The Producer Price Index, or PPI, comes out this morning.  The PPI measures prices on the wholesale level, before they reach consumers. This month's report will be closely watched, especially by the Federal Reserve, after the Consumer Price Index showed inflation hit a three year high in May, up four-point-two percent year over year.  The reports usually move in tandem, or, if one rises, the other tends to, as well.  But that's not always the case. 

 

>>EPA Extends Cheaper Gas Waiver

(Washington, DC)  --  Access to a cheaper gas option is being extended for millions of Americans. The EPA is stretching a summer waiver for Unleaded 88, which is sold at thousands of stations in 33 states.  It's a blend of 15-percent ethanol and 85-percent gasoline.  Summer air pollution rules would otherwise limit its sale.  Another extension is possible, but not guaranteed.  The EPA has been renewing the waivers in 20-day blocks because federal law caps each emergency fuel waiver at 20 days.

 

>>Kalshi To Require Some Employer Verification

(New York, NY)  --  Kalshi is planning to require users in certain markets to share information about their employers.  The prediction market announced that it has created a system to score markets based on the risk of insider trading and those with certain scores will require employment verification.  Kalshi's head of enforcement said in a statement, "by implementing these new integrity measures, we continue to lead the industry on the issue of market integrity amongst federally regulated prediction markets."  The update comes as prediction markets, like Kalshi and Polymarket, are seeking to crack down on insider trading due to lawmakers' concerns over suspicious activity on the platforms.

 

>>American Axle, UAW Reach Tentative Contract Deal

(Three Rivers, MI)  --  American Axle and the United Auto Workers have reached a tentative deal on a new contract after a ten-day strike in Three Rivers, Michigan.  UAW president Shawn Fain says they have won "back nearly 20 years of struggle."  Employees will have their pay increased to 30-dollars an hour by 2030 if the contract is ratified.  Local 2093 bargaining chairman Josh Jager says the raise is over 36-percent to their top rate in four years and "will change the lives in Three Rivers and across southwest Michigan."  The contract does not raise healthcare premiums for four years and has Martin Luther King Jr. Day and Veterans Day added as paid holidays.
 

AM Business Notebook 

For: June 2, 2026  

>>Ahead Of The Bell 

(New York, NY)  --  The opening bell rings this morning on Wall Street after stocks closed out the first trading day of June in positive territory despite a surge in oil prices.  All three major averages hit record highs Monday as President Trump said talks with Iran are ongoing.  Nvidia led the technology sector with the launch of a new chip for personal computers.  At the closing bell, the Dow Jones Industrial Average rose 46 points to 51-078.  The S&P 500 added 19 points to 75-99.  The Nasdaq gained 114 points to 27-086. 

 

>>Anthropic Moves To Go Public With Blockbuster IPO  

(San Francisco, CA)  --  Artificial intelligence company Anthropic has filed for a proposed initial public offering.  The San Francisco-based startup announced that it had "confidentially submitted" paperwork with the SEC on Monday after a recent round of private funding pushed its overall valuation to roughly 965-billion dollars.  Anthropic says the exact timing of the coming IPO will depend on "market conditions and other factors."  

 

>>Focus On Employment Reports This Week 

(Undated)  --  Several key reads on hiring are coming this week, all leading up to Friday's employment numbers for last month.  They start with the Labor Department's Jobs Openings and Labor Turnover Survey, or JOLTS report, due out today.  Next is ADP's monthly hiring survey on Wednesday.  The payroll processor only measures it at private employers, but economists consider it a good indication of what to expect from the monthly numbers.  And on Thursday, we get the weekly jobless claims report.  They're considered a proxy for layoffs. 

 

>>Short Seller Andrew Left Convicted For Stock Manipulation

(Los Angeles, CA)  --  Noted short seller Andrew Left has been found guilty of using dishonest social media posts to manipulate stocks.  He was found guilty Monday after a three-week trial in Los Angeles and could face decades in prison.  Left would bet that a company's stock price would fall, then make posts either criticizing or boosting companies before quickly closing out his trading positions.  Prosecutors say he made at least 20-million-dollars using this tactic between 2018 and 2023.  

 

>>Carnival Data Breach Leaves Millions Exposed

(Augusta, ME)  --  Carnival is providing limited information on a data breach it experienced in April.  According to an announcement from the cruise line, an "unauthorized actor" managed to gain access to a limited portion of the company's IT system by deceiving an employee with "social engineering."  Carnival did not specify the extent of the breach, but a company filing with the Office of the Maine Attorney General shows over five-point-nine million people were affected. N ow the company is offering its U.S. customers two years of complimentary credit monitoring through TransUnion and recommended that potentially affected travelers "remain vigilant against threats of identity theft."

 

>>People Inc. Examining Possible Purchase of MGM Resorts 

(Las Vegas, NV)  --  People Inc. says it has submitted an offer to buy out MGM Resorts for 18-billion-dollars.  The media conglomerate already owns 26-percent of MGM, and now is proposing to buy the rest of the company at over 48-dollars a share.  The deal hasn't been finalized, but company chairman and senior executive Barry Diller says MGM has real world assets that AI can't easily replicate, and that the market undervalues the casino operator.  This comes just days after Fertitta Entertainment agreed to buy Caesar's entertainment for five-point-seven billion dollars in cash. 

AM Business Notebook 

For: June 1, 2026

>>Watching Wall Street 

(New York, NY)  --  The opening bell rings this morning as Wall Street ushers in a new trading month.  The final trading session in May ended with all thee major averages closing at record highs on Friday.  Stocks extended gains as technology shares surged while oil prices declined.  Hopes for a Middle East deal also gave markets a boost.  At the closing bell, the Dow Jones Industrial Average gained 363 points to 51-032.  The S&P 500 added 16 points to 75-80.  The Nasdaq rose 55 points to 26-972. 

 

>>The Rise of The Side Hustle 

(Undated)  --  New research shows as prices climb Americans are taking on a side hustle.  Research from Omnisend found that 28-percent of Americans have taken on extra work with most citing the need to cover bills and essentials.  A separate ZipRecruiter survey estimates the share of Americans with a side hustle to be higher, finding that 35-percent have an alternate source of income.  A Bankrate survey last year found that 34-percent of Gen Z, 31-percent of millenials, 23-percent of Gen X and 22-percent of baby boomers have looked for other ways to make cash. The ZipRecruiter survey found that about 45-percent of those earning over 150-thousand dollars do supplemental work, compared to 31-percent of workers earning less than 25-thousand dollars.

 

>>Southwest Reverses Plus-Size Passenger Policy

(Dallas, TX)  --  Southwest Airlines is reversing course on its plus-size passenger policy.  The discount carrier will no longer require plus-size customers to book an extra seat in advance.  Gate agents will now assign an extra seat for free if available or work to get the customer on a later flight.  Southwest said the change aims to create "a more consistent and seamless experience."  Passengers needing an extra seat are still encouraged to book one in advance and will be able to request a refund within 90 days of travel.

 

>>Mercedez-Benz May Be Banned Under Bill Aimed At Chinese Automaker Ownership

(Washington, DC)  --  Mercedez-Benz could be banned from the U.S. auto market under legislation working its way through Congress.  New bipartisan legislation aimed at limiting Chinese involvement in the U.S. auto market may affect Mercedez-Benz unless the bill is changed or the automaker's largest shareholder sells its stake.  The bill, the Motor Vehicle Modernization Act of 2026, would prohibit automakers that have "direct or indirect equity interest by a foreign-adversary government" from selling, importing or manufacturing vehicles in the U.S.  Mercedez-Benz's largest individual shareholder is the state-owned Chinese automaker BAIC, formerly the Beijing Automotive Industrial Corp., with a nine-point-98-percent share.  A spokesperson for the Energy and Commerce Committee, confirmed the details of the legislation to CNBC.

 

>>UAW Employees At American Axle In Three Rivers, Michigan On Strike

(Three Rivers, MI)  --  United Auto Workers union members at American Axle in Three Rivers, Michigan are now on strike.  UAW president Shawn Fain announced last night that time was up for the manufacturer of drive axles for General Motors, Stellantis, and Nissan.  American Axle and the employees agreed to a 50-percent pay cut during the Great Recession in 2008 to keep the facility open, but the union says the cut has not been fully restored and they also want better healthcare, stronger retirement benefits, and profit sharing.  

 

>>Nearly 100-Thousand Vehicles Recalled By Honda

(Undated)  --  Nearly 100-thousand vehicles are being recalled by Honda due to an issue with airbags.  That's according to the National Highway Traffic Safety Administration.  The issue involves a defect that could lead to the unintentional deployment of airbags.  Most of the models affected are the Accord Hybrid, ?the Honda Acura TLX and other Accord vehicles.  Honda says there are no reports of injuries or deaths because of the issue. 

 

>>Lounge Chair Sold On Amazon Recalled After Finger Amputation 

(Washington, DC)  --  Federal safety officials say a lounge chair sold on Amazon is being recalled after a customer lost a finger while adjusting it.  The Consumer Product Safety Commission said the chair made by the company Giantex, poses an "amputation risk" when consumers place their fingers in a pinch point when adjusting the chair.  Over one-thousand units are subject to the recall.  The recalled lounge chairs are blue and measure 76 inches long, 23 inches wide and 13 inches tall.  They have a five-position adjustable locking system and the backrest height can be adjusted from 13 and a half inches to 26 and a half inches. 
 

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