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Nvidia’s June 14–21 week underscored how the company is financing, benchmarking and extending its AI platform at once. The biggest developments were a $25 billion senior notes offering, new Blackwell MLPerf results, and a string of partner moves spanning HPE, Vultr, Coherent, Foxconn, Bull and SK Hynix.
SpaceX’s $75 billion IPO priced at $135 per share, soared 19% on debut and will bankroll Starship and AI ambitions.
Brent crude jumped and European shares opened lower on Tuesday after US Central Command launched targeted strikes on missile sites in southern Iran, eroding investor optimism that a 60-day ceasefire extension and broader peace deal were near.
S&P 500 futures climbed 0.6% toward 7,500 and the Dow eyed 51,000 as Tuesday's reopen inherited a Memorial Day rally built on collapsing oil prices and a reported framework to reopen the Strait of Hormuz.
US stocks reversed Thursday's record highs on Friday, with the Dow falling 475 points and Nvidia down 3.6%, as Treasury yields hit a one-year high, China trade deals disappointed relative to expectations, and investors began the new Kevin Warsh era at the Fed with caution.
The US 10-year Treasury yield climbed to 4.597% — a one-year high — after April CPI printed at 3.8%, above forecasts, while markets now price a 38% probability of a rate hike by December as the new Fed Chair inherits a persistently hot inflation picture.
Brent crude climbed above $109 per barrel today as US-Iran tensions keep the Strait of Hormuz under threat, with oil having oscillated between $126 and $100 since hostilities began — driving US petrol above $4.50 a gallon and complicating the Federal Reserve's fight against inflation.
President Trump left Beijing after a two-day summit with Xi Jinping carrying commitments to buy 200 Boeing jets, US oil, and agricultural goods — but markets fell as the deals came in below the most bullish pre-summit expectations, with no breakthrough on tariffs or chip exports.
Kevin Warsh became the 17th chair of the Federal Reserve today as Jerome Powell's term expired, confirmed 54-45 by the Senate — but instead of the rate cuts Trump allies expected, Warsh now faces inflation at 3.8% and a growing market probability of a hike before any cuts.