Good morning . Trump calls off Iran strikes and says a deal is near. Australia’s bullet train may help ease the housing crisis. And Mexico beat South Africa 2-0 as the 2026 FIFA World Cup got underway. Listen to the day’s top stories . Market Snapshot WTI Crude Futures $86.56 -3.9% S&P 500 7,394.30 +1.8% Spot Gold $4,185.40 -0.6% Market data as of 05:04 PM ET. Data is subject to provider delays. D...
Good morning . Trump calls off Iran strikes and says a deal is near. Australia’s bullet train may help ease the housing crisis. And Mexico beat South Africa 2-0 as the 2026 FIFA World Cup got underway. Listen to the day’s top stories . Market Snapshot WTI Crude Futures $86.56 -3.9% S&P 500 7,394.30 +1.8% Spot Gold $4,185.40 -0.6% Market data as of 05:04 PM ET. Data is subject to provider delays. Donald Trump pulled back military strikes against Iran, hours after threatening to hit the country “very hard” and seize its oil infrastructure. He said he reversed course after talks with Iranian leaders on a negotiated end to the war and told reporters a deal may be signed as soon as this weekend in Europe, with JD Vance expected to attend. It’s not clear whether Tehran would participate, and Fars said leaders had not yet approved the text of any agreement with the US. Oil Tanker Sailed Away From War With Unexploded Missile on Board Read more SpaceX made history with the biggest-ever IPO , launching it into the top ranks of the largest public companies and putting founder Elon Musk on the verge of becoming the world’s first trillionaire . The company raised $75 billion, pricing 555.6 million shares at $135 each, for a market value of $1.77 trillion. The global economy will expand 2.5% in 2026, the weakest pace since Covid-19 triggered a recession in 2020, according to the World Bank. Prospects worsened for two-thirds of economies as the war in the Middle East disrupted commodity flows, raised energy and import costs, and fueled inflation. Emerging markets outside China and India were hit hardest, though China’s growth forecast was revised down to 4.2% from 4.4%. China imposed sanctions on Philippine Defense Secretary Gilberto Teodoro, accusing him of making remarks that harmed bilateral ties and Beijing’s interests. The move follows an interview Teodoro gave last month in Singapore, in which he expressed support for closer ties between the Philippines and Taiwan and strong...
After ending trading sessions on Tuesday and Wednesday lower than where they had finished on the previous days, Oklo (NYSE: OKLO) stock jumped higher today and stayed there through the closing bell. Investors bid the nuclear energy stock higher after the company reported progress toward securing regulatory approval. Shares of Oklo closed at $57.85, climbing 7.1% from yesterday's close. Image sourc...
After ending trading sessions on Tuesday and Wednesday lower than where they had finished on the previous days, Oklo (NYSE: OKLO) stock jumped higher today and stayed there through the closing bell. Investors bid the nuclear energy stock higher after the company reported progress toward securing regulatory approval. Shares of Oklo closed at $57.85, climbing 7.1% from yesterday's close. Image source: Getty Images. Continue reading
SANTA CLARA, Calif., June 11, 2026 (GLOBE NEWSWIRE) -- NVIDIA today announced it will hold its 2026 Annual Meeting of Stockholders online on Wednesday, June 24, at 9 a.m. PT. The meeting will take place virtually at https://www.virtualshareholdermeeting.com/NVDA2026. Stockholders will need their control number included in their notice or proxy card to access the meeting and may vote and submit que...
SANTA CLARA, Calif., June 11, 2026 (GLOBE NEWSWIRE) -- NVIDIA today announced it will hold its 2026 Annual Meeting of Stockholders online on Wednesday, June 24, at 9 a.m. PT. The meeting will take place virtually at https://www.virtualshareholdermeeting.com/NVDA2026. Stockholders will need their control number included in their notice or proxy card to access the meeting and may vote and submit questions while attending the meeting. Non-stockholders are welcome to attend by going to the above lin
Marvin Samuel Tolentino Pineda/iStock Editorial via Getty Images The Vancouver Police Department is expanding its use of technology from Axon Enterprise ( AXON ), including the deployment of drones, body-worn camera capabilities and in-car video systems designed to provide officers with additional information during incidents, the company said. Law enforcement drone (Axon Enterprise) The departmen...
Marvin Samuel Tolentino Pineda/iStock Editorial via Getty Images The Vancouver Police Department is expanding its use of technology from Axon Enterprise ( AXON ), including the deployment of drones, body-worn camera capabilities and in-car video systems designed to provide officers with additional information during incidents, the company said. Law enforcement drone (Axon Enterprise) The department has become the first police agency in Canada to deploy Skydio X10 drones integrated with Axon's ( AXON ) technology platform. The drones will be used to provide aerial views during active incidents and support operational decision-making. The move reflects a broader trend among law enforcement agencies toward integrating video, drone and communications technologies into a single operational platform. For Axon, the deployment highlights continued adoption of its ecosystem-based approach, which combines body cameras, real-time operations software and other connected technologies. Vancouver police are also expanding the use of Axon Assistant's real-time translation feature, which allows officers to communicate in more than 50 languages during interactions with members of the public. Sgt. Dermot O'Boyle said language translation capabilities can help officers communicate with residents who are not fluent in English and better understand their needs during encounters with police. The department has also added Axon Fleet 3 in-car video systems equipped with automated license plate recognition cameras. Combined with body-worn cameras that can livestream video, the systems are intended to provide officers and operations personnel with additional information during unfolding incidents. Supt. Kevin Bernardin said the technologies are designed to support decision-making and response efforts by providing a more comprehensive view of events. Axon said public safety agencies are increasingly seeking ways to connect personnel, information and technology in real time. The company said th...
Referee Wilton Pereira Sampaio shows red cards to South Africa's Yaya Sithole and Themba Zwane as well as Mexico's Cesar Montes during the opening match of the 2026 World Cup at the Mexico City Stadium.
Referee Wilton Pereira Sampaio shows red cards to South Africa's Yaya Sithole and Themba Zwane as well as Mexico's Cesar Montes during the opening match of the 2026 World Cup at the Mexico City Stadium.
Long-awaited course to examine human effects on natural world and explore everyday ways to aid biodiversity School pupils will learn how to plant a wildflower-friendly garden, according to long-awaited plans announced on Thursday for a natural history GCSE in England, Wales and Northern Ireland. Campaigners have for more than a decade called for the study of biodiversity loss and global heating to...
Long-awaited course to examine human effects on natural world and explore everyday ways to aid biodiversity School pupils will learn how to plant a wildflower-friendly garden, according to long-awaited plans announced on Thursday for a natural history GCSE in England, Wales and Northern Ireland. Campaigners have for more than a decade called for the study of biodiversity loss and global heating to be introduced as a dedicated subject in classrooms across the country, but despite a curriculum being previously drawn up, its launch has faced repeated delays . Continue reading...
For much of the reform era, the United States occupied a special place in the Chinese imagination. When I was growing up in China in the 1980s, the US – or meiguo, the “beautiful country” – was more than a country. It was an idea. Many Chinese, myself included, associated it with prosperity, freedom, scientific innovation and a functioning democracy. Even those who disagreed with American foreign ...
For much of the reform era, the United States occupied a special place in the Chinese imagination. When I was growing up in China in the 1980s, the US – or meiguo, the “beautiful country” – was more than a country. It was an idea. Many Chinese, myself included, associated it with prosperity, freedom, scientific innovation and a functioning democracy. Even those who disagreed with American foreign policy often admired its institutions and power. That admiration survived many shocks: the Belgrade...
Shares of enterprise software giant Oracle (NYSE:ORCL) fell 12.6% in the morning session after it reported results that beat on almost every metric but disclosed a capital spending commitment that alarmed investors focused on free cash flow and dilution.
Shares of enterprise software giant Oracle (NYSE:ORCL) fell 12.6% in the morning session after it reported results that beat on almost every metric but disclosed a capital spending commitment that alarmed investors focused on free cash flow and dilution.
Oracle (NYSE:ORCL), an enterprise software and cloud services provider, closed Thursday at $184.10, down 8.53%. The stock dropped after its fiscal Q4 earnings beat was overshadowed by guidance for sharply higher AI-related capital spending and negative free cash flow. Trading vol
Oracle (NYSE:ORCL), an enterprise software and cloud services provider, closed Thursday at $184.10, down 8.53%. The stock dropped after its fiscal Q4 earnings beat was overshadowed by guidance for sharply higher AI-related capital spending and negative free cash flow. Trading vol
SUBSCRIBE TO CNBC'S "POWER INSIDER NEWSLETTER POWER POINT What I'm hearing from energy insiders If you want to know where oil prices are going next, there is perhaps no better place to be than the Global Energy Forum in Washington, DC this week. Hosted by the Atlantic Council, the event is fantastic, with a unique global macro focus that includes more than 1,000 attendees from 85 countries. The fo...
SUBSCRIBE TO CNBC'S "POWER INSIDER NEWSLETTER POWER POINT What I'm hearing from energy insiders If you want to know where oil prices are going next, there is perhaps no better place to be than the Global Energy Forum in Washington, DC this week. Hosted by the Atlantic Council, the event is fantastic, with a unique global macro focus that includes more than 1,000 attendees from 85 countries. The forum gives us an opportunity to speak with the women and men running energy companies and policies around the world. I had the privilege of having many great conversations, chats, and meetings. A few of those were off the record. But we also had two decidedly on -the-record conversations with both Energy Secretary Chris Wright and TWG Global partner and former Biden energy bigwig Amos Hochstein. The current Secretary of Energy made some news with us to kick things off at the Forum. In our chat, Secretary Chris Wright confirmed that ship traffic in and around the Strait of Hormuz is rising. I pressed him a touch more on the topic, and he answered with, "I would say [ship traffic] is rising very meaningfully." That's not many words, but it was enough words to move a few billion dollars in oil futures. Oil immediately dropped once the headlines from our conversation hit the wires, and CNBC ran a big story on it. The next day, President Trump made an even larger splash, commenting that the power of the U.S. Navy is helping a growing number of ships pass safely through the Strait. He posted to his social media account: Zoom In Icon Arrows pointing outwards As with many of the President's remarks, the comments are attracting attention. Draw your own conclusions, but based on what I know, here's my take: First, the "200 ships" number will be higher than many estimates you see elsewhere. Before you automatically discount it, however, keep in mind that it is nearly impossible for anyone without access to military data or expensive satellite data to know exactly how many ships have go...
SpaceX has made history with the largest IPO ever, pricing shares at $135 each and raising $75 billion. Dan Ives, Global Head of Technology Research at Wedbush Securities, discussed the overwhelming demand for the offering, which Bloomberg reports is four times oversubscribed, including $100 billion in retail orders and significant institutional interest such as a $5 billion order from BlackRock. ...
SpaceX has made history with the largest IPO ever, pricing shares at $135 each and raising $75 billion. Dan Ives, Global Head of Technology Research at Wedbush Securities, discussed the overwhelming demand for the offering, which Bloomberg reports is four times oversubscribed, including $100 billion in retail orders and significant institutional interest such as a $5 billion order from BlackRock. He speaks with Romaine Bostick & Katie Greifeld on "The Close." (Source: Bloomberg)
Maris-Tech ( MTEK ) said Thursday it received a conditional compliance determination from Nasdaq, which found the company currently meets the exchange's minimum stockholders' equity requirement for continued listing. Nasdaq said it will continue monitoring compliance and warned the company's securities could face delisting proceedings if it fails to satisfy the requirement when it files financial ...
Maris-Tech ( MTEK ) said Thursday it received a conditional compliance determination from Nasdaq, which found the company currently meets the exchange's minimum stockholders' equity requirement for continued listing. Nasdaq said it will continue monitoring compliance and warned the company's securities could face delisting proceedings if it fails to satisfy the requirement when it files financial statements for the six months ending June 30, 2026. The stock closed 8% higher at $1.34 on Thursday. More on Maris-Tech Maris-Tech secures additional order for intelligence-gathering solutions Financial information for Maris-Tech
Getty Images When Nike, Inc. ( NKE ) reports fiscal fourth quarter results on June 30 , the market will be looking for evidence that the worst is over. Here is the strange part: management has already told everyone it is not. On the third quarter call, Nike guided fourth quarter revenue down 2 to 4 percent, while Wall Street consensus at the time sat at positive 1.9 percent . Greater China, once t...
Getty Images When Nike, Inc. ( NKE ) reports fiscal fourth quarter results on June 30 , the market will be looking for evidence that the worst is over. Here is the strange part: management has already told everyone it is not. On the third quarter call, Nike guided fourth quarter revenue down 2 to 4 percent, while Wall Street consensus at the time sat at positive 1.9 percent . Greater China, once the engine of the growth story, is expected to decline around 20 percent as the company accelerates its marketplace cleanup. CFO Matthew Friend also flagged roughly 300 basis points of gross margin pressure from higher U.S. tariffs, a headwind he said persists into the first quarter of fiscal 2027, with margin expansion not arriving until later that year. So the company says revenue is falling, China is getting cut by a fifth, and margins are compressed for at least two more quarters. And the sell side's answer to all of that is a Buy rating and a $60 target. One of these two parties is wrong, and only one of them has seen the order book. A Normal Multiple On A Broken Denominator Start with what you are actually paying. At about $44, Nike trades at roughly 29 times trailing earnings and about 27 times forward earnings . Bulls will tell you that it is reasonable for Nike, and on the surface, they are right. The five-year median multiple is about 29.5 times , so today's price is not a premium to history. It is dead in line with it. That is exactly the problem. A normal multiple is only normal if the earnings underneath it are normal, and Nike's are anything but. Fiscal 2025 revenue fell 9.8 percent to $46.3 billion , and diluted EPS dropped 42 percent, from $3.73 to $2.16. The trailing twelve months sit near $1.52, which is down almost 60 percent from the fiscal 2024 peak. The market cap is about $66 billion. Put those pieces together, and the arithmetic gets uncomfortable. Paying 29 times depressed earnings is not the same as paying 29 times normal earnings. It is a bet that ...
RH (RH) delivered earnings and revenue surprises of +7.59% and +1.10%, respectively, for the quarter ended April 2026. Do the numbers hold clues to what lies ahead for the stock?
RH (RH) delivered earnings and revenue surprises of +7.59% and +1.10%, respectively, for the quarter ended April 2026. Do the numbers hold clues to what lies ahead for the stock?