News

White House Trade Advisor Navarro: The United States will reduce the burden of fishery supervision and open Georges Bank to scallop fishing.

Hassett criticized Powell for remaining in office and contradicting his seat on the Federal Reserve Board of Governors. After the end of his term as chairman, Powell will still have a term as a director until January 2028; as long as he does not leave, the White House will have one less new vacancy that can be nominated immediately, and the voting structure of the board will not be rewritten quickly according to political rhythms. This will bring the market's original focus on "who will be the chairman and when to cut interest rates" back to slower institutional variables: how the Fed's governor term protection limits the president's immediate control over the central bank, and the Fed's policy differences in the next few years may not only be reflected in interest rate forecasts, but also whether the governor's seats can be reshaped.

The S&P 500 gave up gains and turned lower, with the Nasdaq down 0.7% and the Dow up 0.5%.

U.S. Permanent Representative to the United Nations: U.S. President Trump’s patience with Iran is running out.

U.S. Permanent Representative to the United Nations: We call on Iran to return to dialogue and peace efforts.

U.S. Permanent Representative to the United Nations: We will not accept any illegal fees in the Strait of Hormuz. Iran does not respect the United Nations Charter.

U.S. Permanent Representative to the United Nations: We call on Iran to stop its attacks and open the Strait of Hormuz.

US Permanent Representative to the United Nations: Iran continues to attack ships as well as Bahrain and Kuwait despite memorandum of understanding.

U.S. Permanent Representative to the United Nations: Iran is trying to impose illegal fees in the Strait of Hormuz. The Strait of Hormuz must be open to all countries.

U.S. Permanent Representative to the United Nations: We will not allow Iran to hold the global economy hostage. Iran’s attacks on civilian vessels and obstruction of freedom of navigation have impacted global agriculture.

U.S. technology stocks fell, with the Nasdaq 100 Index's decline extending to 1%, AMD (AMD.O) fell nearly 4%, Meta Platforms (META.O) fell 3.5%, Intel (INTC.O) fell 2.5%, Nvidia (NVDA.O) fell 0.6%, and Broadcom (AVGO.O) fell 0.3%.

The U.S. stock storage sector continued its correction, with Micron Technology (MU.O) falling more than 3%, Western Digital (WDC.O) falling more than 5%, and SanDisk (SNDK.O) falling more than 9%.

Nasdaq 100 futures fell 1%. The Nasdaq erased its previous gains and is now down 0.2%. The S&P 500's gain narrowed to 0.2%, and the Dow is now up 0.7%.

Tesla's (TSLA.O) decline widened to 6.1%.

HSBC Holdings: Lowered Netflix (NFLX.O) target price to $104 from $113.

Apple (AAPL.O) rose 4%.

NATO's top military commander: In the few areas where European allies do not currently have alternative capabilities, we are working on alternative capabilities with equivalent effectiveness.

EIA natural gas inventories in the United States for the week to June 26 were 87 billion cubic feet, expected to be 81 billion cubic feet, and the previous value was 76 billion cubic feet.

NATO's top military commander: European allies have largely filled the gap left by the United States' reduction in investment in NATO's force model.

Nordic American Tanker Company: Three of its tankers have resumed international shipping operations after passing through the Strait of Hormuz. All ship crew members are safe and sound.