Finance
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Analysts warn the TACO trade won’t last forever after an Iran ceasefire wipes out weeks of losses in markets
President Donald Trump again stepped back from the brink and traders are cashing in on what they called “TACO Tuesday.” After threatening that “a whole civilization will die tonight” early Tuesday, just two hours before his 8 p.m. deadline, Trump announced a two-week ceasefire on the condition that Iran reopen the Strait of Hormuz and…
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‘You can never really catch up’: The Iran War is exacerbating already high grocery bills and it will only get worse if the war continues, experts say
The U.S., Israel, and Iran agreed to a two-week ceasefire on Tuesday, but the sticker shock you’ve been feeling every time you go to the grocery store will get worse if the war continues. One of the first places you’ll feel it will be the produce aisle, experts say. A Fortune analysis of produce wholesale…
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Jamie Dimon warned high taxes would push business out of New York, but the city is honing its edge over Miami in attracting top talent, report finds
JPMorgan Chase CEO Jamie Dimon warned of an exodus of companies from New York as a result of climbing taxes and regulatory encumbrances, but emerging data suggests mass migration away from the metropolitan has been greatly exaggerated. In JPMorgan’s annual shareholder letter, Dimon wrote that “while New York City has much going for it,” it…
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$1.5 trillion relief rally erupts on Wall Street after Trump hits pause on Iran strikes
Five weeks of held breath just exhaled from the U.S. stock market this morning, and it was worth about $1.5 trillion. The rally caps a frantic 24 hours. On Sunday, Trump set an 8 p.m. Tuesday deadline for Iran to reopen the Strait of Hormuz or face strikes on its bridges, power plants, and what…
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Current price of oil as of April 8, 2026
At 8:40 a.m. Eastern Time today, the price of oil sits at $93.76 per barrel, using Brent as the benchmark (we’ll explain what that means shortly). That’s a decrease of $19.64 since yesterday morning and roughly $TK more than at this time last year. oil price per barrel % Change Price of oil yesterday $113.40…
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U.S. had a national debt ‘home run’ in its grasp, says Jamie Dimon—but the government did nothing, and now its best option is crisis management
The U.S. national debt stands at more than $39 trillion, with interest paid on the debt now amounting to more than $1 trillion a year. Before too long, that figure will double. What this borrowing (and its related interest payments) will ultimately mean for the economy remains to be seen: Theories range from a market…
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Jamie Dimon warns of growing crypto competition in annual letter: ‘We need to roll out our own blockchain technology’
JPMorgan CEO Jamie Dimon has long been among the crypto sector’s most notable skeptics. Dimon vowed in 2017 to fire any JPMorgan trader who traded bitcoin and has called the oldest cryptocurrency a “fraud” and a “pet rock.” More recently, though, Dimon has become more open to the technology and, this week, he acknowledged that…
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2 years ago, Saudi Arabia quietly canceled the ‘petrodollar’ deal with America that wired the world economy for 50 years. Then war broke out in Iran
The gold standard may have ended in the early 1970s, but something else quietly took its place for the next 50 years: oil. The so-called “petrodollar” system wasn’t well understood for most of this time, but a secret deal between Henry Kissinger and Saudi Arabia ensured the dollar would remain the dominant reserve currency. The…
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Bill Ackman’s $64 billion Universal Music play is part of his strategy to become the next Warren Buffett
Billionaire investor Bill Ackman’s hedge fund, Pershing Square Capital, is planning to buy Universal Music Group (UMG), the world’s largest music group, which represents artists including Taylor Swift, Bad Bunny, Bob Dylan, and the Beatles. The $64 billion pitch announced Tuesday is Ackman’s latest move to turn Pershing into a “modern-day” Berkshire Hathaway and become…
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Aspire built a financial stack used by 50,000 firms. Now it’s coming to the U.S. to take on Ramp and Mercury
The business of corporate credit cards is intensely competitive as U.S. startups like Ramp, Brex, and Rho challenge incumbents like American Express and SAP Concur. Now, a new player is turning up on the scene: Singapore-based Aspire, which believes it can compete in the U.S. by offering its own suite of products aimed at global…