Trending Market News

Oil prices fell Friday morning and are heading for steep weekly losses of close to 7% as supply concerns ease with resumed tanker traffic through the Strait of Hormuz. Despite a cargo vessel being hit by an Iranian projectile near Oman on Thursday, crude shipments through the strait have risen to their highest level since a U.S.-Israeli conflict with Iran began in February.

• Brent crude fell 0.25% to $75.07/barrel and WTI dropped 0.18% to $71.79/barrel, with both benchmarks set for approximately 7% weekly losses
• Iran fired on a cargo ship attempting to pass through the strait, warning that vessel security outside designated Hormuz routes is not guaranteed, though overall traffic remains a fraction of pre-conflict levels (125 ships daily)
• Venezuela earthquakes raised additional supply concerns, with doubts about sustaining its 1.2 million barrels per day output due to power outages, though preliminary assessments showed limited infrastructure damage

Samsung Group plans to announce a 1,000 trillion won ($647.53 billion) investment in South Korea over 10 years on June 29, according to media reports. The investment may include 300 trillion won dedicated to building semiconductor factories in the southwest region of the country. This represents one of the largest corporate investment commitments in South Korean history.

• Total planned investment of 1,000 trillion won ($647.53 billion) to be deployed over a 10-year period
• Approximately 300 trillion won earmarked specifically for chip factory construction in southwestern South Korea
• Official announcement expected on June 29, signaling Samsung's major commitment to domestic manufacturing expansion

The Democratic Republic of Congo reported 1,155 confirmed Ebola cases, including 304 deaths, as of June 25, 2026. The outbreak recorded 37 new cases and 5 deaths in the previous 24 hours. Health officials confirmed continued week-on-week growth in community transmission despite intensified surveillance efforts.

• Total confirmed cases reached 1,155 with 304 deaths, representing a case fatality rate of approximately 26%
• 37 new cases and 5 new deaths were documented in a single 24-hour period, indicating ongoing active transmission
• Intensified epidemiological surveillance has enabled earlier case detection, but community transmission continues to grow on a weekly basis

California filed for a preliminary injunction to block the EPA from allowing Congress to potentially repeal the state's vehicle emissions rules. The EPA announced earlier in June that California's Clean Air Act waivers for environmental regulations should have been sent to lawmakers under the Congressional Review Act, opening them up for congressional repeal.

• The EPA's action affects landmark California vehicle emissions rules that were approved under prior Democratic administrations
• California's emissions waivers were granted under the Clean Air Act, but EPA now says they should have been submitted to Congress under the Congressional Review Act
• The legal challenge seeks to prevent Congress from using the review process to overturn California's environmental regulations

The Trump administration has requested OpenAI delay the release of its new GPT 5.6 model due to security concerns. OpenAI CEO Sam Altman informed staff the company will release the model in a limited preview to select partners, with the government approving access on a customer-by-customer basis during the preview period.

• The model, GPT 5.6, will be released in a restricted preview format to a small group of partners rather than a full public launch
• Two government agencies drove the request: the Office of the National Cyber Director and the Office of Science and Technology Policy
• The government will maintain approval authority over each customer's access during the preview period, representing unprecedented oversight of an AI model release

Chip company Onsemi announced it will acquire Synaptics in an all-stock transaction valued at approximately $7 billion. The deal represents a significant consolidation in the semiconductor industry and will combine the two companies' operations and technologies.

• The transaction is structured as an all-stock deal, meaning Synaptics shareholders will receive Onsemi shares rather than cash
• The acquisition is valued at about $7 billion, representing a major semiconductor industry consolidation
• Both companies operate in the chip manufacturing sector, suggesting potential synergies in technology and market positioning

Automakers Stellantis and Nissan Motor are reportedly in discussions to acquire certain assets of Japanese auto parts supplier Marelli Holdings, according to Bloomberg News sources. The report, published June 25, has not been independently verified by Reuters. The potential deal would involve a partial breakup of the auto supplier's operations.

• Both major automakers are pursuing assets from Marelli Holdings, a Japanese auto parts supplier
• The talks involve taking over 'some of the assets' rather than a full acquisition of the company
• Reuters could not independently confirm the Bloomberg report citing unnamed sources

A large fire is burning at Monroe Energy LLC's Trainer refinery in Pennsylvania, according to local media reports on Thursday. The incident affects one of the region's refining facilities, though details about casualties, damage extent, or operational impact have not been disclosed in the initial reports.

• The fire occurred at Monroe Energy's Trainer refinery located in Pennsylvania
• Local media outlets first reported the incident on Thursday, June 25
• No information has been provided yet regarding the cause of the fire, extent of damage, or impact on refinery operations

Dating app Bumble is exploring a potential sale amid declining growth in the online dating sector, working with Morgan Stanley on the process. The company has faced significant challenges, with total paying users falling over 11% in 2025 to 3.7 million and annual revenue declining nearly 10% to about $966 million. Blackstone, which owns approximately 22% of Bumble, took the company public in 2021 at a valuation exceeding $7 billion.

• Paying users dropped dramatically by about 20% year-over-year in Q1 2026 as the company trimmed lower-engagement accounts
• Bumble's women-first positioning, once a key competitive advantage, is increasingly viewed as less distinctive as user behavior shifts in the dating sector
• The company faces mounting competition, changing user preferences, and broader dating app fatigue, particularly among younger users, though no deal is certain

A hospital near Paris is struggling to cope with France's record heatwave, as patient rooms without air conditioning reach dangerous temperatures. Staff are moving patients to an air-conditioned waiting room while medical care quality suffers due to exhausted workers. The crisis highlights how many French hospitals lack infrastructure to handle climate change-driven extreme heat.

• The Frédéric-Henri Manhès hospital's 20th-century design with large windows creates greenhouse-like conditions, forcing staff to relocate patients to the only air-conditioned space
• A nurse reports that heat reduces care quality as staff are 'tired, sleep badly,' and patients' conditions can worsen, with safety concerns preventing windows from opening fully
• Hospital director says full air conditioning installation would require trade-offs or specific state funding, though he acknowledges solutions will become necessary as heatwaves increase in frequency

Major U.S. banks announced dividend increases and share buyback programs after passing the Federal Reserve's annual stress test. The moves demonstrate the banks' strong capital positions and ability to return more cash to shareholders. Five major institutions raised their quarterly dividends by amounts ranging from 11% to 15%.

• Citigroup raised its quarterly dividend 12% to 67 cents and maintained its $30 billion stock repurchase program
• Goldman Sachs increased its dividend 11% to $5.00 per share, while Morgan Stanley boosted its payout 15% to $1.15 per share
• JPMorgan Chase will increase its dividend to $1.65 per share, and Bank of America maintained its $40 billion buyback program while deferring its dividend decision to next month

Russia's NORSI refinery, the country's fourth-largest oil refinery and second-largest gasoline producer, suspended operations on Wednesday following a Ukrainian drone attack that damaged a primary refining unit. The shutdown is likely to worsen nationwide fuel shortages in Russia. Ukraine has stated its drone strike campaign targets Russian energy infrastructure to undermine war funding.

• The attack damaged the CDU-5 primary refining unit with capacity of 12,000 metric tons per day, representing about 25% of the plant's total production capability
• NORSI can process around 15 million tons of crude annually and produces about 5 million tons of gasoline and over 5 million tons of diesel per year
• Two people were killed in the attack according to regional Governor Gleb Nikitin, and the St. Petersburg exchange halted diesel and gasoline sales from NORSI starting Wednesday

U.S. core capital goods orders, a key indicator of business investment, surged 1.6% in May, significantly exceeding the forecast of 0.6% and reversing April's decline. The increase, driven by broad demand across sectors and heightened AI-related investment, suggests business equipment spending will support economic growth in the second quarter, with GDP estimates reaching as high as 3.0% annualized.

• Core capital goods orders jumped 1.6% in May versus a 0.6% forecast, with strong gains in computers, electronics, fabricated metals, and machinery driven partly by AI investment in information processing equipment
• Overall durable goods orders fell 4.5% due to a 51.8% plunge in non-defense aircraft orders, as Boeing reported only 27 aircraft orders in May compared to 136 in April
• Business equipment spending showed double-digit growth in Q1, and second-quarter GDP estimates now reach 3.0% annualized versus 2.1% in the first quarter

Tesla announced that production at its Berlin manufacturing plant will increase by 20% starting in October, reaching 7,500 vehicles per week. The expansion represents a significant capacity boost for Tesla's European operations and reflects the company's efforts to scale production at its German facility.

• Production will increase to 7,500 vehicles per week, up 20% from current levels
• The capacity expansion is scheduled to begin in October 2025
• The Berlin plant is Tesla's primary European manufacturing hub for electric vehicles

Core inflation in the U.S. accelerated to 3.4% annually in May 2026, the highest level since October 2023, according to the Federal Reserve's preferred PCE price index. Headline inflation reached 4.1% annually, the highest since April 2023, driven largely by energy price increases tied to the Iran war. The elevated inflation readings reinforce the Fed's recent hawkish stance under new Chairman Kevin Warsh.

• Core PCE inflation rose 0.3% monthly and 3.4% annually, both meeting consensus estimates, while headline PCE inflation hit 4.1% annually with a 0.4% monthly increase
• Consumer spending remained strong despite high inflation, with personal consumption expenditures rising 0.7% for the month, exceeding the 0.6% forecast and outpacing the inflation rate
• Energy price increases related to the Iran war have been the primary driver of the inflation surge and are gradually spreading to other sectors of the economy

Russia threatened legal action against Britain and any buyers if London proceeds with a reported plan to auction 100,000 tons of Russian crude oil seized from the tanker Smyrtos on June 14. The Telegraph reported proceeds from the sale could fund Ukraine. Kremlin spokesman Dmitry Peskov warned Moscow would pursue all legal options against decision-makers, sellers, and purchasers.

• Britain seized the Smyrtos, a suspected Russian 'shadow fleet' tanker, in the Channel on June 14 carrying 100,000 tons of crude oil
• The Telegraph reports Britain may auction the seized oil with proceeds potentially going to Ukraine
• Kremlin spokesman Peskov warned Russia would use legal options 'to the fullest extent possible' against all parties involved in any sale

McCormick exceeded Wall Street expectations for second-quarter sales and profit, reporting revenue of $1.94 billion versus estimates of $1.91 billion and adjusted earnings of 80 cents per share. The strong performance was driven by increased demand for spices and seasonings as consumers cook more at home amid economic uncertainty, while the company pursues a roughly $45 billion acquisition of Unilever's food business.

• Quarterly revenue reached $1.94 billion, beating analyst estimates of $1.91 billion
• Growth driven by consumers cooking more at home during economic uncertainty, boosting demand for spices and seasonings
• Company is pursuing a $45 billion deal to acquire Unilever's food business, which would expand its presence into condiments and meal solutions beyond its core spice products

Meta has appointed Kunal Shah, founder of Indian fintech company CRED, to lead WhatsApp as the company pursues 'superapp' ambitions focused on payments and commerce. The appointment comes alongside Meta's $900 million investment in CRED, with Shah retaining his 20% stake while stepping back from executive duties. The move signals Meta's intent to expand WhatsApp's payment and financial services offerings, particularly in emerging markets like India where WhatsApp has over 500 million users.

• Shah, a philosophy student turned entrepreneur, previously founded Freecharge (sold for $400M in 2015) and built CRED into a major fintech player processing over 40% of India's credit card bill payments with 17 million users
• Meta invested $900 million in CRED as part of the deal, with CRED reporting 2024-2025 revenue of $313 million but still operating at a loss of $34 million
• WhatsApp remains a marginal payments player in India despite its massive user base, facing regulatory challenges around privacy, data-sharing, and competition that Shah's experience may help navigate

China's state-owned refiners Sinopec and PetroChina are considering resuming Iranian oil purchases for the first time since 2019, following a U.S. waiver that allows global customers to buy Iranian oil after a peace deal ended the U.S.-Israeli war with Iran. However, competing supplies and weak domestic fuel demand are expected to limit their interest, while independent Chinese refiners remain the primary buyers of Iranian crude.

• Iranian oil loadings surged to 1.6 million barrels per day between June 19-24, up from just 340,000 bpd in the first 18 days of June, following the reopening of the Strait of Hormuz
• State refiners face obstacles including unclear banking and shipping arrangements, while also benefiting from rising exports from Saudi Arabia, Kuwait, and Iraq as Middle East supplies normalize
• National Iranian Oil Co (NIOC) will be the sole contractual party for oil sales under the waiver, with Russia's ESPO blend serving as the pricing reference for potential new deals

Amazon announced an additional $13 billion investment in India by 2030, focused on expanding AI and cloud infrastructure. This comes on top of a previous investment commitment announced in December of the prior year, demonstrating Amazon's continued commitment to the Indian market.

• The $13 billion will be deployed by 2030 specifically to support AI and cloud infrastructure expansion in India
• This investment is incremental to a separate funding commitment Amazon made in December of the previous year
• The announcement reflects Amazon's strategic focus on India's growing technology and digital services market