Finance
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Live updates from SpaceX IPO debut: SpaceX valuation now at over $2 trillion as stock climbs to $175 a share
Today could mark one of the biggest days in stock market history—or set the stage for one of its greatest flops. SpaceX, the most hotly anticipated stock market debut ever, soared in its first minutes of trading on Friday. Elon Musk’s rocket, satellite, and AI empire made its long-awaited debut on both the Nasdaq Global…
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The economist who said ‘no bubble’ just sounded the alarm: ‘The season of chaos is at hand’
Back in February, with the S&P 500 breaching 7,000 for the first time, Owen Lamont was one of the few economists willing to say it plainly: we are not in a bubble. Four months later, he’s sounding the alarm. “The chamber of dispersion has been opened,” Lamont, a senior portfolio manager at Acadian Asset Management…
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Mortgage rate rises to 6.52% from 6.48%, near yearlong high
The average long-term U.S. mortgage rate ticked up this week to just below its high for the year, the latest sign that borrowing costs on home loans remain elevated relative to where they were before the war with Iran started. The benchmark 30-year fixed rate mortgage rate rose to 6.52% from 6.48% last week, mortgage…
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Current price of oil as of June 12, 2026
At 8:50 a.m. Eastern Time today, oil was priced at $89.94 per barrel with Brent serving as the benchmark (we’ll explain different benchmarks later in this article). That’s a drop of $5.21 compared with yesterday morning—but more than $19 higher than the price one year ago. Oil price per barrel % Change Price of oil…
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Controversy swirls over Spanish soccer club accused of using novel $600,000 Kalshi wager to bet on its relegation
A Spanish football club at the center of a prediction market controversy has denied placing a nearly $600,000 bet on Kalshi to hedge against the financial hit of dropping to a lower tier in one of the world’s top soccer leagues—a fate that hinged on the outcome of a single match. Club Atlético Osasuna came…
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You can blame America’s plummeting fertility rate on the iPhone, study finds: ‘People are all depressed and alone and doomscrolling’
Your iPhone may now be a form of birth control, economists warn. New research is linking America’s plummeting birth rate to the rise of the iPhone, providing evidence that smartphone use is causing people to have fewer children. A working paper published this month in the National Bureau of Economist Research (NBER) found that in…
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Bank of America told investors to ‘take profits.’ Then the Nasdaq fell 7%
Bank of America told investors to “take profits” on June 5, and many of them did. Savita Subramanian’s strategy team flagged seven of the firm’s 10 bear-market signposts—five already triggered by April, plus two more in May—and told clients to trim their winners. The firm sees the S&P 500 ending the year at 7,100, below…
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Exclusive: Consumer device giant LG Electronics to launch blockchain to place and sell ads
A South Korean tech giant wants to put ads on chain. LG Electronics, which makes TVs, laptops, and a slew of other consumer devices, is building out a blockchain-based network designed for advertising, the company told Fortune. The firm has its own dedicated blockchain research lab and piloted the project with an unnamed Japanese ad…
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Inflation is roaring back globally, 2022 style. The Iran war is only half the problem
The specter of higher-than-2% inflation has loomed over the economy since the pandemic. But just as it seemed like the Fed had clawed its way out of unpopular rate hikes, a war with Iran has dragged it right back in. Producer prices climbed 6.5% over the past year, the Bureau of Labor Statistics reported Thursday,…
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Current price of oil as of June 11, 2026
By 9 a.m. Eastern Time today, oil had reached $95.15 per barrel, measured using the Brent benchmark. That’s 88 cents less than it cost yesterday morning and about $24 above its price a year earlier. Oil price per barrel % Change Price of oil yesterday $94.27 -0.93% Price of oil 1 month ago $107.79 -11.72%…