Investment banking giant JP Morgan has said it is struggling to predict how oil prices will be impacted by the US-Iran war, telling investors in a rare note that “we simply don’t know how to model the endgame”.

The bank said it assumed at the start of the conflict that there would be “economic red lines” that the Trump administration would be unwilling to cross, and therefore it believed a deal would have been struck to open up the Strait of Hormuz shipping lane back in June.

It said such red lines included oil prices rising above $100 a barrel, inflation reaching 4%, gasoline topping $5 a gallon and rates on 10-year government borrowing hitting 5%.

“The market is on edge,” analysts said.

JP Morgan is a huge name in the financial world, so for the investment bank to admit its experts are grappling with working out the economic impact of the US-Iran conflict reflects the tricky nature of trying to predict President Donald Trump’s next moves.

An oil and gas industry source told the BBC it was “unusual” for such a high-profile investment firm to issue such a note, but added it was a “reflection on the state of play”, given the uncertainties around the conflict.

Investors often make investment decisions on inflation expectations and the price of oil is a major factor in prices rising across the world, given the commodity’s widespread use and humanity’s dependence on it.

While gasoline remains below $5 and inflation has also not reached 4%, oil prices have surged back above $100 in recent weeks and the interest rate – known as a yield – on government bonds, which are issued in order for the US to borrow money from financial markets, has ticked over 5%.

“Six months later [since the war began], many of those lines have been crossed, yet the exit strategy is less clear, not more,” said the commodities research team at JP Morgan in note.

“For the first time since the start of the Iran conflict, we don’t have a baseline view. We simply don’t know how to model the endgame.”

Character.AI

Long before Elon Musk was running multiple companies at once, his mother, Maye Musk, had a much simpler recommendation: pick one.

Elon Musk’s mother, Maye Musk, joined FOX Business’ Stuart Varney on “Varney & Co.” to discuss her son’s ambitions, his childhood and the advice he ignored before taking on some of his biggest ventures.

Maye Musk reflects on her son Elon Musks’ ambitions and the advice he chose not to follow. (Tyler Boye/WWD/Penske Media / Getty Images)

Maye recalled a conversation with Elon after PayPal, when he was weighing what to pursue next.

“And that…came later after PayPal, when he said to me, should I do electric cars, or rockets, or solar energy? And I say, you’ve just worked so hard, just do one. So you see, he doesn’t listen to me,” Musk said.

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Instead, she said, her son went on to pursue several companies despite widespread doubts about whether they would succeed.

“And then he did six companies, and they were all going to fail. Remember? Everybody’s fail, fail, fail and now I’m so proud of him,” she said.

Maye said she noticed her son thought differently from an early age, recalling how he would become absorbed in deep thought as a young child before making observations that surprised her.

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“He was different because he would go into deep thoughts,” she said, adding that he was making profound observations as young as three years old.

Looking back, Maye said her son’s ability to recognize, describe and figure things out was apparent when he was a child.

“He could recognize things, and he can describe it, and I was saying, ‘that’s three-year-old, you know. He can figure out things,’” she said.

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Isao Kudo
GM of Investment & Asset Management Division I

My name is Kudo, and I’m from ITOCHU REIT Management. Thank you very much for watching this video on the financial results of Advance Residence Investment Corporation. I would also like to take this opportunity to extend my sincere appreciation to unitholders and all other stakeholders for your continued and invaluable support.

With that, I will now present the financial results for the fiscal period ended July 2026. Today, we will cover 6 themes in the following order: strategy and financial highlights, cash allocation and distribution outlook, internal growth, property acquisitions and dispositions, finance and sustainability. First, let’s look at strategy and financial highlights. There are no changes in management policy going forward. Through the 3 main pillars of internal growth, external growth and financial and capital strategy, the Investment Corporation will continue pursuing stable and sustainable distributions.

First is internal growth. We aim to achieve ongoing enhancements to the Corporation’s earnings power, primarily centered on rent growth. A key driver of this growth is the living room remodeling project. In addition to generating added value through remodeling, we also promote asset value enhancement initiatives that incorporate ESG perspectives. Next is external growth. We promote selective acquisitions through asset replacement. With an eye toward medium- to long-term growth, we will enhance the overall quality of the Corporation’s portfolio through asset replacement while steadily returning value to unitholders through gains on sales.

Now let’s look at the financial and capital strategy. The Corporation will maintain a solid foundation by balancing financial stability and financing flexibility while containing increases in financial costs. We will also

Macklemore’s removal from Ed Sheeran’s tour is having ripple effects on the ticket market.

Ticket prices for an upcoming Macklemore performance are climbing after the rapper was dropped from the remainder of Sheeran’s Loop tour for making pro-Palestine comments onstage earlier this month. Meanwhile, secondary market prices for the remainder of Sheeran’s concerts have dipped.

Resale prices for Macklemore’s October concert at Red Rocks in Colorado are increasing this week, even though the performance was announced in March.

“The get-in price [or the price for the cheapest available ticket] for that show is up 45% in the past 3 days, from $108 to $157,” Keith Pagello, founder of price tracking company TicketData, said in a statement to CNBC on Thursday. “That’s a surge we can say with confidence would not have happened absent this week’s events.”

Macklemore said on social media on Monday that he was removed from the tour after stadium owners threatened to cancel shows following his pro-Palestinian remarks during a performance at MetLife Stadium in New Jersey on Sept. 4. He announced on Thursday that he will donate his $1 million in earnings from the tour to Palestinian aid organizations.

All of Sheeran’s other supporting acts, Finneas, Aaron Rowe, Beoga and Lukas Graham, said they would leave the tour after Macklemore’s removal. It is unclear who will replace the performers.

Following the Macklemore headlines, ticket prices for Sheeran’s tour have decreased at nine of the ten remaining venues, according to TicketData which aggregates statistics from platforms including SeatGeek, Vivid Seats, Gametime, and StubHub.

However, Pagello said the drops are normal and may not be related to the controversy.

“Across the whole universe of concerts, more shows decline in price as the date approaches than rise,” Pagello said.

Ticket prices to Sheeran’s North American concerts this summer dropped by an average of 22% in the final two weeks leading up to the show, according to Pagello.

Pagello sees the amount of ticket resales to Sheeran’s upcoming concerts as more significant.

“There has been a clear uptick in resale volume: since Monday, tickets have been selling at a slight to moderately increased pace compared to earlier tour stops at the same distance out, even with prices trending down,” Pagello said.

While more tickets are changing hands, it’s unclear how much of the trend relates to opposition to Sheeran, support of him or other factors.

Sheeran maintained that Macklemore’s removal was the promoter’s decision and not his own in an Instagram post Wednesday. He also justified his decision to not speak publicly about his personal beliefs.

“I have always used my platform and music to bring people from all backgrounds and cultures together and this won’t ever change,” he wrote. “There is a reason I do not use my professional platform for politics – my audience includes young people, often children, of all backgrounds. Those who come to my shows do not expect a political forum.”

The concert promoting Sheeran’s eighth album “Play” kicked off late last year in New Zealand. The February leg in Australia was the high-grossing tour in the world that month, bringing in $70.8 million, according to Billboard.   

Sheeran has historically led some of the biggest tours in the world. His most recent tour, which wrapped last year, grossed $875.7 million and sold 8.8 million tickets, according to Billboard.

In-N-Out Burger store managers make more than $200,000 annually on average, which the fast-food chain says reflects the company’s philosophy of investing in its workforce.

“I can confirm that our In-N-Out Burger store managers earn more than $200,000 a year on average,” Chief Operating Officer Denny Warnick said in a statement to FOX Business.

Warnick noted that In-N-Out’s founders, Harry and Esther Snyder, believed in “taking really great care of our associates.”

“Their philosophy was to treat associates like family and strive to be an outstanding employer, and paying higher-than-normal wages was one important part of that philosophy,” he said.

MAJOR BURGER CHAIN IN-N-OUT CHANGES TWO KEY INGREDIENTS, SENDING FANS INTO A FRENZY

In-N-Out Burger store managers make more than $200,000 annually on average. (Justin Sullivan/Getty Images)

The burger chain is committed to offering competitive pay, benefits and career development opportunities, according to Warnick.

“Those values remain unchanged today under the leadership of our owner and president, Lynsi Snyder,” he said. 

“We’re committed to providing competitive wages, great benefits, a positive and enthusiastic work environment and opportunities for associates to develop and grow.”

MCDONALD’S SHAKES UP FALL COFFEE LINEUP AS PUMPKIN SPICE SEASON HEATS UP

The burger chain said it is committed to offering competitive pay, benefits and career development opportunities. (Daniel Cole/Reuters)

Warnick added that many In-N-Out associates have worked for the chain for decades, helping carry on the values established by its founders.

BURGER KING REVAMPS MENU ITEM AFTER CUSTOMERS SOUGHT ‘TOTAL OVERHAUL’

Warnick added that many In-N-Out associates have worked for the company for decades. (Robert Gauthier/Los Angeles Times via Getty Images)

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Earlier this month, the California-based chain, which operates in 10 states, announced two ingredient changes, removing sesame flour from its buns and replacing iodized salt packets with sea salt.

“We remain committed to serving our customers with the freshest, highest-quality food possible. Over the years, we’ve made meaningful changes to our ingredients, and this past year was no exception. We’re pleased to share our latest updates, and we’ll continue building on that commitment for years to come,” the company said at the time.

FOX Business’ Bonny Chu contributed to this report.

SAN CARLOS, Calif. — Shares of Attovia Therapeutics Inc. rose 8.36% to $24.63 on Thursday, adding $1.90, extending a pattern of sharp, unexplained price swings that has characterized trading in the clinical-stage biopharmaceutical company’s stock in recent weeks without any single company-specific announcement clearly driving the moves.

Thursday’s gain adds to a string of similarly outsized single-day moves the stock has posted in recent weeks. Shares surged 5.87% on September 4 and jumped a further 6.19% on September 14, according to tracking from the American Association of Individual Investors, with both moves prompting the group to note that investors were left questioning whether the rallies represented a good opportunity to sell into strength rather than a signal of sustained fundamental improvement at the company. No specific corporate announcement, clinical trial update or analyst action has been identified as the clear catalyst behind Thursday’s advance, consistent with the pattern seen in the stock’s two prior notable rallies earlier in the month.

Attovia Therapeutics is a clinical-stage biopharmaceutical company focused on developing treatments for immune-mediated diseases with significant unmet medical need. The company, incorporated in 2022 and based in San Carlos, California, has built its pipeline around a proprietary technology it calls the ATTOBODY biologics platform, which the company describes as an evolution-driven, high-throughput discovery process capable of generating a wide diversity of therapeutic candidates designed to improve on existing standards of care for the conditions they target.

The company’s lead candidate, ATTO-1310, is a novel ATTOBODY-based Fc-fusion protein therapeutic that inhibits interleukin-31, a signaling protein implicated in itch sensation. The drug is being developed to treat a range of chronic pruritic, or itch-related, conditions, including chronic pruritus of unknown origin, high-itch atopic dermatitis, cholestatic pruritus and chronic kidney disease-associated pruritus. A second pipeline candidate, ATTO-2306, is a half-life-extended immunoglobulin G fusion protein therapeutic designed to inhibit both interleukin-13 and interleukin-31 simultaneously, targeting atopic dermatitis and other immune-mediated skin conditions such as chronic spontaneous urticaria and prurigo nodularis. A third candidate, ATTO-1091, takes a broader approach as a trispecific ATTOBODY-based Fc-fusion protein therapeutic designed to inhibit TL1A, interleukin-23 and integrin a4β7 simultaneously, targeting inflammatory bowel disease, a chronic immune-mediated condition affecting the gastrointestinal tract that includes both ulcerative colitis and Crohn’s disease.

Financially, Attovia remains firmly in its investment phase as a clinical-stage biotechnology company, a profile common among early-stage biopharmaceutical firms still years away from potential product approval and commercialization. The company reported a recent quarterly net loss of $18.7 million, reflecting continued heavy investment in research and development across its pipeline of immune-disease candidates. Attovia held a cash position of approximately $43.3 million as of its most recent disclosed balance sheet, alongside a notably low debt ratio of 0.03 and a current ratio of 13.94, metrics that together point to a company with limited leverage and a comparatively strong short-term liquidity position relative to its immediate obligations, even as its ongoing losses continue to draw down its cash reserves over time.

Attovia’s stock has exhibited substantial volatility since its own public listing, with shares trading within a 52-week range spanning from a low of $16.15 to a high of $28.00. The company’s market capitalization has fluctuated accordingly, recently standing in the range of roughly $950 million to just over $1 billion depending on the specific trading session, reflecting the scale of price swings the stock has experienced over relatively short periods.

The recurring pattern of sharp single-day moves without clearly identifiable catalysts is not unusual for small-cap, clinical-stage biotechnology stocks, which often trade on comparatively thin volume and can be disproportionately affected by broader sector sentiment, speculative trading activity, options market dynamics, or shifts in investor positioning that are not necessarily tied to company-specific news. Attovia’s average daily trading volume has recently been reported in the range of roughly 175,000 to 188,000 shares, a level that can make the stock more susceptible to outsized percentage moves when trading volume spikes above that baseline, even in the absence of a clear news-driven trigger.

Attovia has not issued any recent press release, clinical trial data disclosure, or regulatory update that corresponds directly to Thursday’s trading session, based on the company’s most recent public filings and press release history. The absence of a clear catalyst has left market commentators to attribute the stock’s recent volatility broadly to the kind of speculative trading patterns often seen in smaller biotechnology names, rather than to any specific, verifiable development in the company’s underlying business or clinical programs.

With no major company-specific catalysts publicly scheduled in the immediate term, investors in Attovia Therapeutics are likely to continue watching for updates on the clinical progress of its three lead pipeline candidates, particularly ATTO-1310 given its position as the company’s most advanced program, as the more durable, fundamentals-driven catalysts that could eventually justify or reverse the kind of sharp, unexplained price swings the stock has exhibited repeatedly over the past several weeks.