Analyst Michael Mueller upgraded the real estate investment trust to overweight from neutral, saying in a note to clients that the company has a better growth profile and cheaper valuation than many of its peers. Hatzius also said that a temporary disruption in energy supply through the Strait of Hormuz would likely lower global growth by more than 0.3 percentage points and increase headline inflation by 0.7 percentage points. Trump Media, which is in the process of creating a financial services business, reported just $8.8 million of total revenue in the first quarter. The repurchases could be of either common stock or warrants and would be conducted through open market transactions, according to the press release.
Defense stocks rise in premarket trade after U.S. strikes on Iran
- Vodafone Group Plc pulled in multi-billion investor bids across a multi-currency debt sale, the proceeds of which will be used to finance a sweeping €2 billion ($2.35 billion) debt buyback announced on Monday.
- The hiring and quits rates remain near decade lows, reflecting what economists have described as a labor market in “stasis.”
- Such an approach would have helped in 2021, when vaccines allowed the global economy to reopen rapidly but also triggered a surge in inflation, according to Lagarde, whose speech kicked off the ECB’s annual central-banking forum in Sintra, Portugal.
- Much of ARKK’s recent strength is due to enormous gains in Circle Internet Group, the fund’s third-largest holding, BTIG said.
The company also said this move would be funded separately from its bitcoin treasury strategy. Stocks closed higher while oil tumbled on Monday, with investors largely shaking off escalating tensions in the Middle East. “Markets only care about oil supply shocks, so as long as they stay at bay, we’ll see markets sharply higher,” said Jamie Cox, managing director at Harris Financial Group. “Regardless of whether the President oversold the effectiveness of the strikes or not, the nuclear program in Iran was set back decades.”
Stock market today: S&P 500, Nasdaq fall amid Fed rate uncertainty as Trump mulls Iran move
Federal Housing Finance Agency director Bill Pulte’s public criticism against Fed Chair Jerome Powell continued on Monday, accusing the central banker of being biased against President Donald Trump. “Both the growth hit and inflation boost would be larger in the event of a sustained closure of the Strait of Hormuz,” he continued. Cathie Wood’s ARK Innovation ETF is “poised for a downside shakeout here,” according to BTIG chief market technician Jonathan Krinsky.
The firm also cut its price target to $22 from $29, suggesting the stock can fall nearly 21% from Friday’s close. TenneT has been preparing the German business for an initial public offering or private stake sales and has held discussions with potential investors, according to a letter sent by Dutch Finance Minister Eelco Heinen to the parliament on Monday. The government initially aims to decide on which path to pursue at the beginning of the summer break.
Trump’s tax bill advances to the House: What happens now?
AstraZeneca’s market cap was £161.2 billion ($221.1 billion) as of Tuesday’s closing price, according to LSEG data. CEO Pascal Soriot is considering moving the company’s stock listing from London to the U.S., British newspaper The Times reported on Tuesday afternoon, citing anonymous sources. Soriot’s frustrations with the U.K.’s regulatory environment — particularly rules around new medicine approvals and drug pricing systems — are said to be driving the move. The easing in odds of a global trade war comes as a July 9 deadline looms for the resumption of sweeping US “reciprocal” tariffs, which Trump on Sunday said he didn’t think he’d need to extend.
Fintech company DailyPay Inc. this month sold $200 million of bonds backed by fees tied to the company’s main service, an app that lets workers access pay as soon as dowmarkets they’ve earned it rather than wait for paychecks. In September, Julie Monaco will travel to Europe for her bank’s Ukraine unit’s board meeting. It’s one sign of Ukraine’s importance to Citigroup, which is the only US bank still operating in the country and counts the government among its roughly 500 clients there. Now, it’s readying for the nation’s reconstruction once Russia’s war on Ukraine is ultimately over. Republican Party leaders are rushing to overcome lingering internal fights over President Donald Trump’s massive tax and spending package as Democrats launch attacks to exploit the divisions. The company currently powers most of its AI features with homegrown technology that it calls Apple Foundation Models, and had been planning a new version of its voice assistant that runs on that technology for 2026.
It’s part of President Gabriel Boric’s efforts to boost state involvement in critical minerals while stepping up production despite current global oversupply. Criticism has ranged from the deal being a case of state overreach to terms being overly beneficial to SQM. The iPhone maker has talked with both companies about using their large language models for Siri, according to people familiar with the discussions. It has asked them to train versions of their models that could run on Apple’s cloud infrastructure for testing, said the people, who asked not to be identified discussing private deliberations.
- According to CME data, the majority of Fed watchers still do not expect the central bank to cut rates in July.
- Another looming deadline has prompted the US to scale back Trump’s push for full-blown “reciprocal” deals with trading partners, the Financial Times reported.
- A divide has developed among Fed officials, likely over how tariffs are expected to affect inflation.
- URA has risen for 11 straight weeks, the longest since its inception in 2010, and last week reached its highest since February 2013.
- Novo Nordisk shares are under pressure after updates at the American Diabetes Association conference this weekend left the impression that Eli Lilly has an edge in obesity treatment.
The Public Investment Fund earned $34.5 billion from investment activities in 2024, up 38% from the previous year, according to financial statements released Monday. A US judge on Monday ordered Argentina to turn over its controlling stake in the state-run oil company YPF SA as partial payment of a $16 billion court judgment against the Latin American country. Chief Executive Officer Mark Zuckerberg announced a major restructuring of the company’s artificial intelligence group, including a commitment to developing AI “superintelligence,” or systems that can complete tasks as well as or even better than humans. The US Justice Department announced one arrest and charges against nine more people in connection with an alleged scheme in which North Koreans posed as American tech workers to gain lucrative jobs and fund the country’s government. Ten- to 30-year yields declined to session lows shortly after midday in New York, price action that lacked a clear catalyst but was consistent with expected buying in connection with month-end index rebalancing. Under the deal, SQM would relinquish a majority stake in its prized Atacama assets to Codelco in exchange for three more decades of operations.
JPMorgan also raised its price target on Ventas to $72 per share, up from $70 previously. “The external growth recovery that we expected for the overall REIT group has not materialized as a whole, which arguably makes VTR’s external growth dynamic stand out a bit more to us,” the note said. The Wegovy maker attributed its decision to scrap its month-old collaboration with Hims & Hers to its desire to keep knock-off versions of its drug off the market.
The force index indicator is a technical tool used by traders to measure the power behind movements in the price action.
The government claims Apple has used its power over app distribution and the iPhone’s features to thwart innovations that would have made it easier for consumers to switch phones. The lawsuit is an existential threat to Apple and could upend its highly lucrative mobile hardware business. The iPhone maker is accused of violating antitrust laws by blocking rivals from accessing hardware and software features on its popular devices.
Stock market today: S&P 500, Nasdaq leap to fresh records as Vietnam trade deal boosts hopes ahead of key jobs report
The Foreign Ministry in Moscow accused Azerbaijan of “unfriendly actions” after staff at Sputnik Azerbaijan were detained, the Tass news service reported Monday. Eight key OPEC+ nations are preparing to discuss another hike of 411,000 barrels a day, due to take effect in August, delegates said last week. They’ll likely approve the move when they hold a video conference on Sunday, according to a survey of 32 traders and analysts. The Dutch government needs more time to assess the options for TenneT Holding BV’s German high-voltage business and a decision is likely to come in September.
“That doesn’t mean markets are in the clear – once geopolitics fade from the headlines, US equities will need to reckon with a host of headwinds, including tariffs,” he said. “This cohort continues to drive spending growth, outperforming the overall average (versus June y/y growth in Gen X and Baby Boomers at -0.1% and -0.4%, respectively),” the note said. The Global X Uranium ETF (URA) is about 1% higher premarket Monday, looking to gain for the second time in the past three sessions.
Anticipation of firmer inflation has kept the US central bank from delivering interest-rate cuts this year as it waits to see what happens. The Trump administration is applying intense pressure on Fed Chair Jerome Powell to bring down borrowing costs, and two Fed governors in recent days have publicly diverged from Powell by asserting a cut could be appropriate as soon as July. Trump’s latest round of brinkmanship with Tokyo on Monday comes just over a week before a July 9 deadline for higher tariffs to restart for dozens of trading partners, including Japan. He cited what he said was the country’s unwillingness to accept US rice exports. While the industry was exempted from Trump’s so-called reciprocal tariffs plans when they were unveiled in April, the White House leader has since placed the sector under investigation by the U.S.
Where the major averages stand for the month
The euro-denominated tranches pulled in more than €5.4 billion of investor demand across a four-year note — that saw the most interest — an eight-year note, and a 13-year note. As a result, spreads were tightened by as much as 40 basis points from the wide end of initial price thoughts for the euro tranches. The British pound-denominated 25-year note drew £1.7 billion of demand with the spread tightened to 120 basis points over UK gilts from around 140 basis points over at initial price thoughts.