Trending Market News

President Trump purchased between $1 million and $5 million in Axon Enterprise stock on February 10, 2026, two weeks before ICE posted a notice seeking a five-year, $220 million Taser contract that procurement experts say appears tailored to Axon products. While there is no evidence of impropriety or Trump's involvement in the procurement process, ethics experts say the timing raises red flags about potential conflicts of interest, even though the White House maintains Trump's assets are in a trust managed by third parties.

• The ICE contract would provide approximately 17,800 Tasers with unlimited cartridges and training, more than quadrupling ICE's current inventory of 4,000 devices, with specifications that experts say match only Axon products.
• Axon's stock rose more than 34% in the week following ICE's contract notice, and the company has intensified federal lobbying efforts, spending nearly $2.5 million in 2025 while hiring a former top Palantir employee to expand government business.
• The deal remains unawarded amid DHS leadership changes and cost concerns, while civil liberties advocates warn that Taser purchases could lead to broader ICE adoption of Axon's surveillance ecosystem, including body cameras, cloud storage, and AI-powered real-time operations tools.

Apple has accused India's Competition Commission (CCI) of 'copy-pasting' rivals' claims in an antitrust investigation that found Apple engaged in abusive conduct on its iOS app platform. The U.S. tech giant is calling for the findings to be quashed, arguing it is a 'minuscule player' with under 6% market share in India. The case represents Apple's biggest regulatory challenge in India as the company expands manufacturing operations there.

• Apple alleges CCI investigators replicated submissions from Match, PhonePe, and Paytm without independent verification, and copied graphics from a 2024 EU ruling despite different market conditions in India
• The CCI found Apple wrongly mandated use of its payment system and engaged in abusive conduct; Apple faces potential fines of up to 10% of company turnover under Indian antitrust law
• Apple argues it has an 'unblemished record' and has exported $51 billion worth of iPhones from India over five years, with India set to produce 26% of global iPhones by 2026, up from 6% four years ago

The European Investment Bank is committing €3 billion ($3.42 billion) to Airbus, with an initial €1 billion loan already signed. This represents the largest-ever corporate loan authorized by the EIB and aims to strengthen Europe's industrial base against global competition from the United States and China. The financing will support Airbus' research and development investments through 2030 in commercial aviation, security, defense, and technology.

• Airbus has signed an initial €1 billion loan as part of the broader €3 billion financing package, the largest corporate loan ever authorized by the EIB
• The funding will support Airbus' planned investments through 2030 across commercial aviation, security, defense, and technology sectors
• This move follows Europe's broader efforts to shore up its technology and industrial sectors, including a planned tie-up of Airbus, Thales, and Leonardo satellite activities to rival Elon Musk's Starlink

British American Tobacco plans to cut approximately 5,500 jobs (about 20% of its workforce) and transfer 3,500 roles to third-party firms as part of an AI-driven restructuring to reduce costs and boost profits. The program, which excludes the U.S. market, aims to deliver £600 million in annualized savings by 2028. The move comes as BAT faces declining traditional tobacco sales and struggles to compete in smoking alternatives like vapes.

• Restructuring will affect around 9,000 employees total through job cuts and outsourcing to firms including Accenture, with £500 million in savings targeted by 2027
• BAT's traditional tobacco business is in 'terminal decline' with industry volumes expected to drop 2.5% this year, while the company trails rival Philip Morris International in alternative products
• U.S. regulatory challenges have delayed vape product launches and enabled an influx of illegal Chinese products, weighing on sales amid consumer shifts to cheaper brands

BT Group and Verizon Communications announced a 50:50 joint venture combining their international enterprise operations to serve multinational clients. Verizon will pay BT an equalization payment of $625 million, and both companies will have equal voting rights in the new entity.

• The joint venture will focus on serving multinational enterprise clients through combined international operations
• Verizon agreed to pay BT a $625 million equalization payment as part of the deal structure
• Both telecom companies will maintain equal ownership and voting rights in the 50:50 partnership

Samsung Electronics and SK Hynix each plan to build two new chip fabrication facilities in southwestern South Korea as part of a government initiative to create a chip production ecosystem valued at 800 trillion won ($517.87 billion). The announcement is part of three 'mega-projects' aimed at spurring growth and establishing dominance in the AI sector.

• Total investment for the chip production ecosystem is valued at 800 trillion won (approximately $517.87 billion)
• Each company (Samsung and SK Hynix) will construct two massive fabrication sites in South Korea's southwest region
• The initiative is part of three mega-projects designed to accelerate growth and secure leadership in the AI semiconductor sector

Baidu's Hong Kong-listed shares jumped over 7% following reports that its AI chip unit Kunlunxin is pursuing a Hong Kong IPO that could value the company at $50 billion. Prospective investors are reportedly being asked to purchase Kunlunxin semiconductors worth three to seven times their intended IPO investment, according to sources.

• Baidu confidentially filed a listing application for Kunlunxin on the Hong Kong Stock Exchange earlier this year, though offering details remain undecided
• Founded in 2011, Kunlunxin primarily supplies chips to parent Baidu but has expanded to external sales over the past two years, with ByteDance reportedly showing interest
• The IPO comes as China accelerates efforts to compete in AI, with analysts noting 'signs of Chinese catch-up' despite the U.S. currently leading in AI hardware capabilities

The U.S. Justice Department has closed its criminal investigation into Abbott Laboratories regarding a baby formula facility where potentially deadly bacteria were found and suspected of causing infant deaths. Instead of criminal charges, the DOJ opted to pursue civil penalties against the company.

• The probe focused on how Abbott managed the facility where dangerous bacteria were discovered
• The bacteria found at the plant were suspected of contributing to infant deaths
• DOJ chose to pursue civil penalties rather than criminal prosecution

Oil prices rose on Monday, June 29, following renewed military strikes between the United States and Iran in the Middle East. The escalation highlighted vulnerabilities in their interim peace agreement and disrupted energy shipping through the Strait of Hormuz, a critical oil transit route.

• Brent crude futures increased 50 cents (0.69%) to $72.49 per barrel, while WTI crude rose 73 cents (1.05%) to $69.96 per barrel by 2204 GMT
• The tit-for-tat strikes between the US and Iran slowed energy shipping operations in the Strait of Hormuz, raising supply concerns
• The military exchanges exposed the fragility of the interim peace deal between the two nations

Kohl's, once a retail leader, has seen its stock plummet nearly 70% over five years due to strategic missteps that alienated its core customer base. Under CEO Michael Bender, appointed in late 2025, the retailer is attempting a turnaround by returning to its original value proposition of proprietary brands, coupons, and reliable product assortment. While recent results show improvement, Wall Street analysts remain cautious about whether the department store can achieve sustained growth.

• Kohl's peaked at $20.23 billion in revenue (fiscal year ending February 2019) but lost relevance by abandoning core strategies, removing key categories like petites and jewelry, and trying to become an off-price retailer instead of focusing on proprietary brands
• The company posted its best comparable sales growth in four years in its most recent quarter, with stock surging 20% after earnings, though full-year sales are still projected to be down 2% to flat
• Kohl's is trying to attract younger consumers through Sephora shop-in-shops, though this initiative 'underperformed' with low-single-digit declines in the latest quarter, and analysts maintain a 'show-me' stance citing ongoing pressure on core apparel and footwear businesses

The U.S. National Highway Traffic Safety Administration (NHTSA) closed its investigation into power steering failures affecting approximately 376,000 Tesla Model 3 and Model Y vehicles from the 2023 model year. The closure followed Tesla's early 2025 recall addressing the defect through an over-the-air software update.

• NHTSA opened a preliminary evaluation in July 2023 after owners reported loss of steering control or increased steering effort, later upgrading it to an engineering analysis in early 2024
• Tesla recalled 376,000 vehicles in early 2025 to fix a power steering assist failure caused by overvoltage breakdown in motor drive components, though the company stated the recall was not in response to the NHTSA probe
• The defect made vehicles harder to steer, particularly at low speeds, raising crash risk before being addressed via software update

Apple is lobbying the Trump administration for permission to purchase memory chips from ChangXin Memory Technologies (CXMT), a Chinese chipmaker blacklisted by the Pentagon as a military-linked company. The move comes as Apple faces mounting financial pressure from soaring memory chip prices, which recently forced the company to raise iPad and MacBook prices. The request highlights the tension between rising chip costs driven by AI demand and U.S. national security restrictions on Chinese suppliers.

• CXMT was designated as a Chinese military company by the Defense Department and added to the Commerce Department's Entity List, requiring U.S. companies to obtain licenses (likely to be denied) before conducting business
• Apple approached the Commerce Department over a month ago and has engaged multiple administration officials and Washington allies to secure approval
• Apple raised iPad and MacBook prices on Thursday, citing inability to absorb soaring memory and storage chip costs driven by AI industry's data center expansion

SpaceX will join the Nasdaq-100 index less than a month after its June 12 IPO, becoming one of the fastest additions ever under Nasdaq's new fast-track inclusion framework. The aerospace company is expected to enter the tech-heavy index with a weighting of less than 1%, triggering purchases from index-tracking funds and ETFs.

• SpaceX qualifies for inclusion after just 15 trading days under Nasdaq's recently adopted framework for newly public companies, dramatically shorter than the previous months-long waiting period
• Index funds and ETFs tracking the Nasdaq-100 will need to buy SpaceX shares, creating fresh demand despite the company's small publicly tradable float relative to total market capitalization
• SpaceX remains ineligible for S&P 500 inclusion due to that index's separate profitability and seasoning requirements, though S&P recently proposed a similar fast-track process

The Trump administration granted Anthropic permission on Friday to release its Mythos 5 AI model to approximately 100 companies and federal agencies. This resolves a standoff that began when the government ordered Anthropic to disable access to its Fable 5 and Mythos 5 models citing national security concerns and export control requirements. The decision represents a significant breakthrough in negotiations between the AI company and the administration.

• Anthropic had disabled access to Fable 5 and Mythos 5 models to comply with an export control directive that prohibited access by any foreign national, including Anthropic's own foreign national employees
• The Commerce Department stated the resolution ensures 'America remains the global leader' in AI while safeguarding security, following negotiations between senior Anthropic staff and government officials
• Commerce Secretary Howard Lutnick indicated Anthropic worked with the government to address risks associated with the models following his June 12 letter to the company

SpaceX and Charter Communications have held executive-level discussions about partnering on a consumer mobile phone service in the United States, according to a Bloomberg News report citing sources. The talks represent a potential entry by SpaceX into the U.S. consumer mobile market through a partnership with the major internet provider. Reuters could not immediately verify the report independently.

• The partnership discussions involve SpaceX, known for its Starlink satellite internet service, and Charter Communications, a major U.S. internet provider
• The potential collaboration would focus on offering consumer mobile phone services in the United States market
• Bloomberg News reported the talks based on unnamed sources, though the details and status of the discussions remain unverified by Reuters

Meta CEO Mark Zuckerberg is directing executives to explore partnerships with prediction market platforms Polymarket and Kalshi as the company develops Arena, its own prediction market app. Unlike its competitors that use real money, Arena will rely on video game-like 'points' and target users aged 18-34. Meta aims to reach at least 100 million monthly active users for the app, which is currently in internal testing.

• Arena will differ from Polymarket and Kalshi by using 'points' instead of real-money wagers, potentially avoiding regulatory challenges faced by traditional prediction markets
• Meta targets 100 million monthly active 'predictors' among 18- to 34-year-olds, with plans to eventually integrate Arena features into Instagram
• Prediction markets gained popularity during the 2024 U.S. presidential election but face increasing scrutiny over well-timed trades ahead of major policy announcements that generated millions in profits

The United States has launched military strikes against Iran after President Trump accused Tehran of violating a ceasefire in the Strait of Hormuz. This marks a significant escalation in tensions between the two nations in the strategically critical waterway through which a large portion of global oil shipments pass.

• Trump cited a ceasefire violation by Iran in the Strait of Hormuz as justification for the strikes
• The Strait of Hormuz is a critical chokepoint for global energy supplies, making any military action in the region significant for oil markets and trade
• This is developing breaking news with limited details currently available about the scope and impact of the strikes

Verizon Communications successfully bid nearly $3.2 billion for wireless licenses in an FCC auction for mid-band spectrum, representing the vast majority of the total $3.5 billion raised. AT&T, T-Mobile, and SpaceX also won spectrum licenses in the auction, though their bids were significantly smaller.

• Verizon's $3.2 billion bid accounted for approximately 91% of the total $3.5 billion raised in the FCC mid-band spectrum auction
• AT&T bid $278 million, T-Mobile bid $121 million, and SpaceX bid $8.5 million for their respective wireless licenses
• The mid-band spectrum licenses will enable carriers to expand their wireless network capacity and coverage capabilities

The European Commission defended the EU's sovereign right to implement digital taxes after U.S. President Donald Trump objected to such measures. The EU stated its taxes are non-discriminatory and apply equally to all large companies regardless of origin, while warning it would respond swiftly to unjustified U.S. unilateral actions.

• EU digital taxes are designed to be non-discriminatory and apply to all large companies equally, regardless of their country of origin
• The European Commission warned it stands ready to respond swiftly to any unjustified unilateral measures from the U.S.
• The bloc remains open to negotiating a global solution in line with G7 agreements on digital taxation

Iraq's Oil Ministry announced that OPEC has begun restoring Iraq's pre-war production allocations and confirmed it is not planning to leave the organization, despite earlier reports suggesting otherwise. The country, OPEC's second-largest producer, has been seeking higher quotas as its oil income has been severely impacted by Iran war disruptions that blocked exports through the Strait of Hormuz.

• Iraq's July quota is set at 4.378 million barrels per day, though current output remains significantly below this level due to Hormuz Strait blockages from the Iran war
• Baghdad is pushing for reassessment of OPEC production quotas to reflect members' economic and security circumstances, following the UAE's departure from the organization less than two months earlier
• Iraq depends on oil for the bulk of its income, which has been slashed since the war effectively blocked its export routes through the Strait of Hormuz