US military sinks seven Iranian small boats while Iran launches new attacks on the UAE and ships in the Strait of Hormuz, sending global stocks lower and oil prices higher as ceasefire hopes fade.
The Dow Jones Industrial Average closed down 557 points at 48,941, while Brent crude surged past $114 per barrel as the US-Iran conflict in the Strait of Hormuz rattled global markets.
Doris Fisher co-founder of the Gap clothing retail chain has died in San Francisco at age 94, she and her husband built one of the most recognizable retail brands globally
Palantir reports Q1 2026 earnings with 85% year-over-year revenue growth, the fastest expansion since its 2020 market debut. U.S. government business surges while commercial sales underperform. Executives criticize ‘AI slop’ during earnings call.
GameStop stock fell 10 percent after CEO Ryan Cohen dodged analyst questions about the details of the 5.55 billion dollar eBay takeover deal raising concerns about the transaction feasibility
BYD passenger vehicle deliveries declined year-over-year in April, marking the eighth consecutive monthly drop, while Stellantis-backed Leapmotor posted record deliveries in the same period.
Oil prices pulled back Tuesday after Brent crude surged nearly 6% the previous day, as traders weigh escalating Iran tensions against ceasefire prospects.
Escalating military conflict in the Strait of Hormuz sent Wall Street tumbling from its record highs on May 4, with crude oil prices surging and global shippers continuing to avoid the strait, raising fears of a broader economic crisis.
Amazon announced it is opening its internal logistics infrastructure to external business customers, formally entering the third-party logistics market and directly challenging FedEx and UPS.
The Reserve Bank of Australia raises rates again, warning that Middle East conflict is pushing up fuel and commodity prices, keeping inflation elevated for an extended period.