U.S. producer prices unexpectedly fell in June, posting their biggest decline in 14 months amid a pullback in the cost of energy products, further evidence that inflation was subsiding before the recent escalation in the Middle ​East conflict.

The producer-price index declined by 0.3% in June, the Labor Department said, after increasing by an elevated 0.6% in May. Analysts had estimated that producer prices held steady last month.

Quick ReadProducer prices dropped 0.4% in June, marking the largest monthly decline since the pandemic and signaling that Fed rate hikes are increasingly unlikely.Year-over-year wholesale inflation slowed to 1.

Wholesale prices fell in June as oil prices declined, the Bureau of Labor Statistics said on Wednesday, though that drop that has since been reversed. For the month, prices fell by 0.3%, leading to a 5.

Iran threatened to block all oil exporting routes in the region on Wednesday in response to the U.S. maritime blockade of Iranian ports in the Strait of Hormuz.

The US military early Wednesday reimposed a blockade on Iranian ports over Tehran’s attacks on ships trying to pass through the Strait of Hormuz, sparking new strikes on nations hosting US forces as an interim deal to end the war further unraveled.

America launched new strikes on Iran moments before its naval blockade on Iranian ports came into effect. Iran’s Islamic Revolutionary Guard Corps said they hit American weapons facilities in the Gulf in retaliation.

Technology stocks are leading markets higher worldwide as winners of the AI boom gather more strength following several shaky weeks

SpaceX stock, a top IPO of the year, dipped below its initial public offering price of $135 for the first time ever. Its valuation briefly overtook Microsoft and Amazon after its June 12 debut.

Elon Musk’s rocket and AI company needs some good news. That could come Thursday with the launch of SpaceX’s reusable Starship.

IPO high, showing that markets may be sobering up to the promises CEO Elon Musk made before and after SpaceX went public.

SpaceX has shed nearly 40% from its post-IPO peak in just four weeks, and a looming lockup unlock threatens to flood the market with more shares than the entire IPO float. One specific price level changes the math entirely.

U.S. stocks are drifting Wednesday following strong profit reports from BlackRock and other big companies and an update on the path of inflation. The S&P 500 was mostly unchanged. Stocks were nearly evenly split between gainers and losers in the index.

U.S. stocks ticked higher following strong profit reports from big companies. The S&P 500 added 0.4% Wednesday and pulled within 0.5% of its all-time high set last month. The Dow

Oil prices jumped above $85 a barrel Tuesday as renewed hostilities between the U.S. and Iran sparked fears over supply through the key Strait of Hormuz shipping route.

Oil prices rose, with Brent crude trading just shy of $86 a barrel after the U.S. reinstated its naval blockade on Iran.

Social Security’s cost-of-living adjustment could be around 3.8% in 2027, adding about $74 a month to the average retiree’s benefits, as inflation shows signs of cooling. According to independent Social Security analyst Mary Johnson,

New estimates call for a 3.6% to 3.8% benefit increase next year, although the final adjustment will depend on inflation readings released this summer.

Social Security checks are expected to increase next year by 3.7%, based on the June consumer inflation report, a new estimate shows. A cost-of-living adjustment of 3.7% is down a full percentage point from last month's estimate as inflation cooled in June,

Social Security and Medicare analyst Mary Johnson estimates that the 2027 Cost-of-Living Adjustment (COLA) could be 3.7 percent.

JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said he wants to grow the firm’s international digital bank throughout Europe, making clear his ambitions to challenge local rivals.

Mike Mayo, the widely-followed bank analyst at Wells Fargo, has grilled JPMorgan Chase CEO Jamie Dimon on quarterly earnings calls for years. JPMorgan’s call with analysts on Tuesday was no exception.

Jamie Dimon's two decades at the helm of JPMorgan Chase have it now within striking distance of becoming the first bank ever to be valued at $1 trillion.

JPMorgan Chase, the largest bank in America, issued its second-quarter earnings report today—and broke records in the process. The banking giant reported over $57 billion in net revenue over Q2—a year-over-year increase of 28 percent—and more than $21 billion in net income,