Luxury stocks have been hard hit by the Iran war, as the Middle East had been a fast-growing market for the otherwise largely muted sector.
UK economy shrank 0.1% in April as Iran conflict weighed on growth
U.K. GDP fell 0.1% in April as services activity declined and companies cited pressure from the Middle East conflict.
A Chinese start-up’s unfolding dilemma exposes cracks in Beijing’s tech funding machine
While the U.S. channels support to tech winners indirectly via incentives, Chinese governments at every level take direct equity stakes.
SpaceX raising $75 billion in record-setting IPO as Nasdaq debut awaits
SpaceX is selling 555.6 shares at $135 a piece, raising $75 billion in the largest IPO on record.
SpaceX cuts retail IPO allocation to low 20% range, source says
The Elon Musk-led company plans to direct a percentage in the low 20s of the offering to retail buyers, according to a person familiar with the matter.
SpaceX to close above $2 trillion market cap on its debut, prediction market traders say
Traders on Polymarket think it’s likely SpaceX will join a group of just six companies boasting a market value beyond $2 trillion.
From startup to $1.8 trillion: The investors who took a chance on SpaceX now reap the rewards
With SpaceX seeking a valuation of nearly $1.8 trillion in IPO, early bets are poised to generate some of the biggest paper gains in venture capital history.
Gold slumps to 6-month low even as inflation fears rise. Here’s why bullion is out of favor
The yellow metal is at lowest level of the year as potential interest rate increases and faltering technical signals weigh on prices.
ECB hikes interest rates for first time since 2023 as Iran war ramps up energy costs
The European Central Bank also raised its inflation forecasts and cut its growth outlook.
Wholesale prices rose 1.1% in May, more than expected, on surge in energy
The producer price index was expected to increase 0.7% in May, according to the Dow Jones consensus forecast.