Latest Developments

North America
Yahoo Finance

Here Are Friday’s Best Wall Street Analyst Research Calls: Adobe, Advanced Micro Devices, Ares Capital, Coca Cola, e.l.f. Beauty, FormFactor, Kratos Defense, Travelers, Williams-Sonoma, and More

Futures are trading higher as excitement builds for the Elon Musk Space Exploration Technologies IPO (NASDAQ: SPCX), which is priced at $135 per share and set to begin trading later today. We saw a big risk-on Thursday, which produced a massive rally across the major indices, as once again, President Trump said we are close to a peace deal with Iran after some major airstrikes and a threat to take over Kharg Island. That sent stocks soaring and oil plummeting. When it was all said and done, the Russell 2000 was the big winner, closing up 3% at 2,920, while the Nasdaq was close behind, finishing the session up 2.54% at 25,809. The Dow Jones Industrial Average was last seen at 50,848, up 1.86%, and the S&P 500 closed the session at 7394, up 1.75%. Yields were down across the entire Treasury curve following the President’s prediction of near-term peace. The President also canceled additional airstrikes that were scheduled for Thursday night. Despite some nasty inflation news and data this week, hopes that inflation will start to taper with lower oil prices also helped drive prices higher. The 30-year-long bond closed the day at 4.95%, while the 10-year note was last seen 4.46%. The potential for an end to the four-month war with Iran once again lit the fuse for the sellers to step up to the plate, and they did on Thursday. Brent Crude finished on Thursday at $88.71, down 4.82%, while West Texas Intermediate closed at $86.07, down 4.40%. Natural gas was also hit and closed Thursday’s session at $3.07, down 3.52%. Gold had a nice turnaround day, which many on Wall Street attributed to short-sellers closing positions and a weaker dollar, but the fact is, the precious metal has remained in a slump, and recently hit a six-month low. The path of least resistance is likely lower. The final trade for Gold was posted at $4,210, up 3.45%, while Silver ended the session at $67.24, up a whopping 6.23%. 24/7 Wall St. reviews dozens of analyst research reports daily to identify new investment ideas for both investors and traders. Some of these daily analyst calls cover stocks to buy. Other calls cover stocks to sell or avoid. Remember that no single analyst call should ever be used as a basis to buy or sell a stock. Here are some of the best Wall Street analyst upgrades, downgrades, and initiations seen on Friday, June 12, 2026.

Here Are Friday’s Best Wall Street Analyst Research Calls: Adobe, Advanced Micro Devices, Ares Capital, Coca Cola, e.l.f. Beauty, FormFactor, Kratos Defense, Travelers, Williams-Sonoma, and More
Europe
The Guardian

Trump claims US fuel prices ‘not very high’ as costs surge amid Iran war

Fuel prices are displayed at a gas station in Washington DC on 30 May 2026. Photograph: Bonnie Cash/UPI/ShutterstockView image in fullscreenFuel prices are displayed at a gas station in Washington DC on 30 May 2026. Photograph: Bonnie Cash/UPI/ShutterstockUS economyTrump claims US fuel prices ‘not very high’ as costs surge amid Iran warNational average gas price stands at about $4.16 per gallon as Americans grapple with price hikes sparked by the war Donald Trump has claimed US fuel prices are “not very high, relatively speaking” as his administration grapples with affordability concerns after the surge in costs sparked by his war on Iran. The national average gas price stood at about $4.16 per gallon on Tuesday, according to AAA – $0.37 lower than a month ago, but still about $1 more expensive than the same time last year. The US president has faced sustained frustration over the sharp rise in fuel costs since the start of the US-Israel war on Iran in late February. While he has repeatedly sought to downplay the increase in prices, it comes as voters prepare to cast their votes in November’s crucial US midterm elections. Trump says fuel prices are ‘not very high’ amid Iran war - videoAddressing reporters on Tuesday morning, Trump said the administration was releasing “a lot of oil coming out of the Hormuz strait”, one of the most crucial passageways for global trade through which about 20% of the world’s oil passes. The strait has been all but closed since the start of the war. The president spoke from New York after attending Game 3 of the NBA finals, where he was loudly booed when shown on Madison Square Garden’s jumbotrons. Prices still remain far higher than what they were before the Iran war started. Oil and gas prices jumped sharply after the strait of Hormuz effectively closed earlier this year, as Iran threatened ships in the area and maritime insurers cancelled war risk cover. Trump also pointed out that gas prices remain lower than during the Biden administration, “and he wasn’t stopping the country from having a nuclear weapon”. Record-high gas prices in 2022 were exacerbated by the war in Ukraine, which tightened the world’s oil supply. The sharp uptick in energy prices largely drove inflation to 3.8% last month, the highest increase the country had recorded since 2023. Americans have started to feel the effects of high energy costs on many other aspects of everyday life, such as the price of groceries and air travel. Moody’s Analytics has estimated that the war and its resulting high energy prices have cost American households about $100bn. The Bureau of Labor Statistics is scheduled to release May inflation estimates on Wednesday morning, which economists expect to show that inflation remained high. The closely watched report will probably shape the outcome of the US Federal Reserve meeting scheduled for next week, where Kevin Warsh, the central bank’s new chair, and the rest of the central bank’s board of governors will decide whether to change rates, amid elevated inflation and a relatively strong labor market.

Trump claims US fuel prices ‘not very high’ as costs surge amid Iran war
Europe
The Guardian

Diane Keaton’s nail clippers for $960: what’s behind the new boom in celebrity estate auctions?

‘The personal legacy market has exploded’ … Diane Keaton in a scene from Mack & Rita. Photograph: Landmark Media/AlamyView image in fullscreen‘The personal legacy market has exploded’ … Diane Keaton in a scene from Mack & Rita. Photograph: Landmark Media/AlamyMoviesDiane Keaton’s nail clippers for $960: what’s behind the new boom in celebrity estate auctions?With beloved stars’ personal items increasingly up for grabs after they die, a new generation of fans are bidding on everything from bowler hats to dog bowls Rupert NeateFri 12 Jun 2026 02.00 EDTLast modified on Fri 12 Jun 2026 06.22 EDTSharePrefer the Guardian on GoogleFrom Diane Keaton’s bowler hats and polka dot scarfs, to Gene Hackman’s used paint brushes, to Terence Stamp’s love letters from Jean Shrimpton and even Matthew Perry’s black leather wallet (his credit cards and AAA membership card still inside), fans are being offered – at a price – increasingly personal items from the estates of dead celebrities. The growing trend for auctions of deceased famous people’s personal items – which has boomed ever since the hugely popular Marilyn Monroe estate sale in 1999 – has even attracted its own portmanteau: “deleb” as in dead celebrity. The first of no fewer than four auctions of Keaton’s professional and personal items went on sale at Bonhams in New York earlier this week with her original Annie Hall script selling for $394,000, way more than its $2,000 estimate. View image in fullscreenA handwritten letter and inscribed sheet music to Diane Keaton from Al Pacino. Photograph: Bonhams AuctionsSeveral of her trademark hats sold for thousands of dollars, including a black felt Neogranadine (modern day Colombia) cup hat that she wore in an Instagram video teaching fans how hats can be used to enhance their best features. It sold for $5,888, including buyer’s premium, many multiples of its $200-300 estimate. A box of six of her trademark brown polka dot scarfs – that was also estimated to sell for $200-300 – sold for $6,144. A “curated box” of safety pins and nail clippers went for $960. The first Keaton auction raised $1.2m, with 47 of the 50 lots selling for more than their estimate. In total, Bonhams, in collaboration with celebrity specialist The Fine Art Group, will sell 787 of Keaton’s items. They range from original collages by Keaton and a Gucci sequin suit and beret worn to the Lacma charity gala in 2021, to personal and prosaic items including a “job lot” of her trademark black turtlenecks, a collection of kitchen chopping boards and dog food bowls. Shane David Hall, director of Fine Art Group’s high-profile client division, says fans are increasingly keen to own celebrities’ personal items and not just items related to their professional lives like film scripts or art collections. “Over the past 20 years the personal legacy market has really exploded,” he says. “People really feel a personal connection to celebrities and how they have influenced their own lives, and there is a real desire to own something of theirs to keep and deepen that connection.” View image in fullscreenCult collector’s item … David Lynch’s cap and director’s chair auctioned with 450 pieces of memorabilia and personal items in 2025. Photograph: Chris Pizzello/Invision/APHall says it is celebrities with cult followings, such as Keaton and Perry, that attract the most interest and where the interest is perhaps more focused on personal objects than professional items. “There is a new generation of collectors with disposal income, and they are more aligned to celebrities and athletes than their parents,” Hall says. “With people like Diane Keaton, they really mean something to their fans, these are people that grew up with her films and her iconic wardrobe. Items of Diane’s are sentimental to them, there are pieces that fit in the trajectory of their own lives and remind them of significant moments in their own story. And of course they make great conversation topics, one could argue more so than an artwork by a famous artist.” Hall says knowing that so many of Keaton’s items would resonate with fans led to such a large collection going up for sale. “We like to have some value points that are accessible so there is the opportunity for everyone no matter their budget.” At the more affordable end was lot no 2216 of the second auction “Tailored & Timeless” – four pairs of her thick-rimmed prescription reading glasses which had an estimate of $200-300 (it sold for $2,176).

Diane Keaton’s nail clippers for $960: what’s behind the new boom in celebrity estate auctions?
North America
CNBC Economy

Wholesale prices rose 1.1% in May, more than expected, on surge in energy

Wholesale prices rose more than expected in May, indicating that pipeline inflationary pressures are percolating higher, the Bureau of Labor Statistics reported Thursday. The producer price index, a measure of final demand costs, increased a seasonally adjusted 1.1% on the month, putting the 12-month wholesale inflation rate at 6.5%. Economists surveyed by Dow Jones had been looking for a monthly move of 0.7%. The annual headline inflation rate was the highest since November 2022. The monthly gain matched the April increase. However, excluding food and energy, the so-called core PPI accelerated 0.4%, compared with the consensus view of 0.5%, indicating that rising fuel prices are causing much of the inflationary burden. Taking out food, energy and trade services, the PPI accelerated 0.8%, the biggest one-month move since March 2022. On a 12-month basis, the core excluding trade services rose 5.1%, the most since October 2022. Most of the acceleration in the PPI — nearly 80% — came from a 2.8% surge in final demand goods prices, the biggest increase ever in a data series going back to December 2009. In turn, 80% of that rise came from a 10.7% jump in energy. Gasoline prices rose 23.4% at the wholesale level, the BLS said. Another significant contributor, on the services side, came from portfolio management fees, which increased 4.8% during a strong May for the stock market. The report comes a day after the BLS reported that headline consumer price inflation surged to 4.2% in May, boosted largely by a surge in energy prices due to the Iran war. However, monthly readings indicated a less severe shock, with core prices rising just 0.2%, putting the 12-month reading at 2.9%. Still, the current state of inflation is likely to keep the Federal Reserve on the sidelines for the foreseeable future. The central bank's Federal Open Market Committee releases its next interest rate decision Wednesday, and market pricing is indicating a near 100% probability of a hold. Beyond that, traders are pricing in no chance of a cut through the year and a better than 60% probability that the next move will be a hike, likely coming in December. Earlier in the day, the European Central Bank voted to raise benchmark rates by a quarter percentage point in an effort to head off the inflation surge. Few if any Fed officials have expressed an interest in similar tightening, instead advocating a patient approach to see whether the energy supply shock wears off and inflation heads back to the U.S. central bank's 2% target. Correction: This article has been updated to correct that wholesale prices rose more than expected in May. An earlier version mischaracterized the comparison.

Wholesale prices rose 1.1% in May, more than expected, on surge in energy
North America
CNBC Finance

Elections advertising spend for 2026 expected to reach record high, outpacing presidential years

The 2026 midterm election cycle could surpass the 2024 presidential cycle to reach record advertising spend for any U.S. election, according to a new report from advertising intelligence company AdImpact. This year's races are projected to reach $11.6 billion in ad spend, making it the most expensive cycle ever and eclipsing the $11.2 billion spent on ads for the 2024 election between now-President Donald Trump and former Vice President Kamala Harris, AdImpact estimates. The new projection is a $795 million increase from a previous projection made last year. The midterm cycle is set to be more intense than previous cycles, with Republicans controlling both chambers of Congress. The 2022 midterm cycle drew $8.9 billion in ad spend, according to AdImpact. If the projection holds, the 2026 ad spend would be 30% higher than the last midterm election. "From record-setting races and surging party committee war chests to a competitive landscape that continues to expand, all indicators point to 2026 being the most expensive political advertising cycle in history," the report read. AdImpact said it expects $5.6 billion to be spent on broadcast, $1.4 billion on cable, $2.6 billion on connected TV and $1.68 billion on digital. Advertising remains a key revenue driver for media companies, with sports, live events and news attracting the most spending. Elections, particularly those that are hotly contested or in battleground states, often bring in some of the highest ad revenue for the owners of local broadcast stations across the country. Broadcast TV remains one of the largest forces in political advertising, according to the report, comprising nearly half of the total cycle spending and driven almost entirely by state races. States seeing the largest spend overall include California, Texas, Michigan and Ohio. Michigan, Ohio and Texas all feature competitive Senate races, while California has an expensive governor's race. AdImpact estimated that through June 1, political ad spending has reached $4 billon, a 46% increase over the same point in the 2024 presidential election cycle. "Much of that surge is driven by a concentrated set of high-profile, high-dollar contests that materialized earlier in the cycle than is typical," the report read. Politicians are also relying more heavily on digital spending across platforms like Facebook, Google, Snapchat and X, expected to spend $1.6 billion in that category during the cycle, according to AdImpact. Within the election categories, the Senate has seen a notable increase in projected political spend, expected to draw nearly $3.4 billion, with one of the most expensive races being Texas' Senate primary, the report said. Republicans hold 53 U.S. Senate seats compared with Democrats' 45. The Senate's two independents caucus with Democrats.

Elections advertising spend for 2026 expected to reach record high, outpacing presidential years
North America
CNBC Finance

SpaceX soon-to-be millionaires are set to spend big on luxury homes, watches and private jet travel

The SpaceX IPO is expected to mint thousands of new millionaires and multiple new billionaires. While current and former employees won't be able to sell their shares right away, some are already planning how to spend their windfall. That newfound wealth could have a ripple effect across the luxury property markets near SpaceX's office hubs and boost spending on watches, private jet charters and other status symbols, experts told CNBC. Real estate agent Gerard Bisignano said he has recently received inquiries from several longtime SpaceX employees looking for homes in the South Bay area of California. They range in age from their mid-30s to early 40s, he said. "They seem to be in a state of disbelief themselves that they're suddenly going to be able to, in some examples, buy a home for their parents. They're going to have all this discretionary income that they can really do what they want," said Bisignano, a partner at Vista Sotheby's. SpaceX's California office is a short drive away from the wealthy coastal communities of Manhattan Beach, Redondo Beach, Hermosa Beach and Palos Verdes Estates. Bisignano said he expects many SpaceX employees to snap up high-end homes in the area. He noted there was a similar buying spree in the neighborhoods around the Facebook headquarters after that company's initial public offering in 2012, with home values there jumping 21%. Bisignano said he also anticipates an influx in interest for second homes in other scenic California locales like Mammoth Lakes, Palm Springs and Tahoe. Texas real estate agent Gary Dolch said he's seeing similar interest from SpaceX employees in the greater Austin area, with SpaceX's Bastrop campus located roughly 30 miles from downtown Austin. Some plan to buy soon after taking a margin loan, while others are waiting for the IPO lockup period to end, he said. Prospective homebuyers' tastes run the gamut from luxury condos on Lake Austin or Lake Travis to 1,000-acre ranches farther from the city, Dolch said. He added that he's optimistic that the IPO will boost the luxury market in Austin, which has softened over past three to four years. "It feels like we're on the verge of the next wave in Austin's expansion fueled by this tech run," he said. The newly wealthy rarely stop their spending spree at a dream home, Bisignano said. He expects buyers to vie for homes with four-car garages to fit their brand new Ferraris. And while sports cars are a popular choice, luxury watches are a more practical status symbol for every day use. Paul Altieri, founder and CEO of Bob's Watches, said a watch is often the first luxury purchase after a major liquidity event. He said customers usually opt for Rolexes as they are instantly recognizable. Models like the Daytona, GMT-Master II and Submariner are most popular, he added.

SpaceX soon-to-be millionaires are set to spend big on luxury homes, watches and private jet travel
Europe
BBC Business

'I was employee number one': SpaceX co-founder reacts to firm's market debut

Tom Mueller was the first employee at SpaceX, a company he co-founded with Elon Musk in 2002. Now, more than two decades later, the company is about to make its public market debut, with an estimated worth of more than $1.8 trillion. Peruvian police officers disguised themselves as 2026 World Cup mascots to break into the home of a suspected drug dealer - and football fan. Football fans gathered at a FIFA World Cup watch party at Niagara Falls for the Canadian and USA teams' opening matches. All three leaders of the North America host nations have missed the tournament opening matches. The BBC spoke to US fans at the Fifa Fan Festival in Los Angeles ahead of the team's match against Paraguay. The former footballer was joined by his wife Victoria Beckham and their children, as well as actor Tom Cruise. Bosnia-Herzegovina fans attending the team's game in Toronto, Canada spoke to the BBC about how costly their trip and seats were. Severe weather has torn through the midwest, destroying homes, disrupting flights, and knocking out power for thousands across the region. Translink apologised, saying "it was prioritising keeping staff, passengers, and the wider public safe". The clip subsequently went viral, something co-headteacher Paul Bailey says took them by surprise. The eyewitness footage shows bright orbs in the sky over an undisclosed location in the northeastern US.

'I was employee number one': SpaceX co-founder reacts to firm's market debut
Europe
BBC Business

SpaceX IPO: Preparing for the biggest liftoff yet?

It’s not just about rockets. This week, Michelle, Rahul and Will explore one of the most anticipated stock market debuts in history: the SpaceX IPO. With a potential $1.75 trillion valuation and intense global investor interest, it’s widely tipped as one of the biggest market launches ever. But can the company live up to the hype — or is this Elon Musk’s biggest gamble yet? Plus: what does SpaceX actually do, and why does it matter to investors? This is the latest episode of our weekly Power Players show, hosted by Rahul Tandon and Will Bain in the UK, and North America Business Correspondent Michelle Fleury in New York. Producer: Rebecca Smyllie You can email the team: businessdaily@bbc.co.uk (Picture: Tesla and SpaceX's CEO Elon Musk reacts during an event in London, UK in 2023. Credit: Kirsty Wigglesworth/Pool via REUTERS/File Photo)

SpaceX IPO: Preparing for the biggest liftoff yet?
Europe
BBC Business

Why the economics make this the craziest World Cup ever

Football World Cups are rarely completely politics-free but never has the beautiful game navigated a geopolitical high-wire act of this kind. The main host is at war with a participant, whose team must commute in on match days from another country. Add to that the quite astonishing coincidence of the US, Canada and Mexico, the three co-hosts of the 2026 World Cup, being in the midst of an epic trade war. Indeed, in the period in between the opening ceremony at the Estadio Azteca, and the final in New Jersey's MetLife Stadium, the three will be renegotiating the USMCA, the North American free trade area. Donald Trump is extremely focused on the tournament, its sponsors and the impact from his return to the White House last year. The US president has even joked that his loss to Joe Biden in the 2020 election had the great benefit of allowing him to return for this World Cup, and the Los Angeles Olympics in 2028. After renewed hostilities between Tehran and Tel Aviv, Trump was rather direct in calling for an end to attacks. And as the minutes ticked down towards the tournament's kick off on Thursday night, he appeared to call off new air strikes and seemingly promised that a deal to end the war was close at hand. Earlier in the day he had vowed to hit Iran "very hard". As ever with Trump, much can change very quickly. He has already controversially accepted a Peace Prize from FIFA, before initiating the war with Iran that has led to a significant global energy and economic shock. There is even a chance the US and Iran could play each other in the knockout stage on the weekend of the US' 250th independence celebrations. Gianni Infantino, president of FIFA, has previously called for ceasefires during World Cups. If the World Cup helps quicken the pace of moves to de-escalate, there could be a material impact on energy prices, supplies and the world economy. Whether the World Cup can actually influence the world's major economic conflict, who knows. But make no mistake - there is another part of the economic jigsaw that is happening right in front of the eyes of football fans worldwide. It's a complete shakedown of football's economics and also one of the most visible examples of how some of the world's major economies increasingly operate. "Football is nothing without the fans," the legendary late former Scotland World Cup manager Jock Stein once said. Some fans however at the globe's biggest party will have paid previously unheard-of amounts for what may turn out to be dead rubber games, while forking out roughly the normal ticket price just for the commuter train to get to the stadium. Witness the New Jersey Transit train ticket - normally $12.90 return, but $100 for the tournament. The fans are being squeezed like never before because this is a very different tournament economic model to what has gone before. For a start, it is largely taking place in borrowed American football stadiums (a quarter of the games are in Canada and Mexico), with the US oval ball sport leaving its mark, perhaps indelibly. This tournament turns the beautiful game into the bountiful game, for organisers FIFA. This could be the most impactful World Cup ever in economic terms, but not for the conventional reason of driving economic activity among the host nations or sparking feel-good spending among those back home in countries that enjoy a good run. Instead, it is a case study of what is known as the K-shaped economy within the world's traditional advanced economies - where different groups within society experience very different financial outcomes - which when plotted on a graph show one line going diagonally upwards (as on the letter K) and another diagonally downwards (again as on the letter K). And it is based on a type of attempted economic revolution in the pricing mechanism that clearly does value a certain type of fan more - those on the diagonally upwards line of that graph. It's important to say FIFA has a very different view of things and stresses those bountiful ticket revenues will be redistributed Robin Hood-style to develop football in the world's poorest nations.

Why the economics make this the craziest World Cup ever