QtrendsWhite House to host a UFC event, drawing both interest and safety concerns. US stocks hit record highs on optimism over a US-Iran ceasefire deal, with oil prices falling. Dell's rally lifts server-maker shares as broader markets gain. Inflation hits a three-year high, eroding Americans' savings and raising the possibility of another Fed rate hike.
The White House is planning a UFC fight night, inviting U.S. troops who meet appearance standards, sparking controversy over the event's propriety. Joe Rogan publicly raised safety concerns about hosting a mixed martial arts event at the White House. Critics argue that the private company behind the event is exploiting a unique opportunity that rivals would envy.
U.S. stocks closed May at record highs, fueled by growing optimism that a US-Iran ceasefire agreement is within reach. Oil prices fell sharply on hopes that the deal would reopen the Strait of Hormuz and curb Tehran's nuclear program. Trump signaled an imminent decision on the matter, pushing for both regional stability and nuclear restrictions.
U.S. stocks extended gains to new records, with Dell Technologies posting a stunning rally that boosted shares of other server manufacturers. Major movers also included Nextpower, AST SpaceMobile, and NetApp. The broad market advance reflected continued investor confidence in the tech sector's growth prospects.
Inflation has hit a three-year high, driving Americans to burn through their savings at an alarming rate as income and spending power erode. A key inflation gauge continues to worsen, with the Chicago Fed chief suggesting that another rate hike remains on the table. Analysts question whether the 'Three A's' currently supporting the U.S. economy are enough to stave off a recession.