Business
Global Market Today | Stocks dive in Asia, brent crude heads for record monthly rise
The Financial Times on Sunday quoted President Donald Trump saying the U.S. could seize Kharg Island in the Persian Gulf, from where Iran exports much of its oil, but also that a ceasefire could come quickly.
Pakistan said it was preparing to host “meaningful talks” to end the conflict over Iran in coming days even though Tehran earlier accused Washington of preparing a land assault as the U.S. military sends more troops to the region.
Yemen’s Iran-aligned Houthis also launched their first attacks on Israel since the start of the conflict.
“Iran’s control of the Strait of Hormuz, capacity to disrupt global energy and food markets, and sustained missile and drone capabilities give it little incentive to concede, pressuring the U.S. to escalate,” said Madison Cartwright, senior geo-economics analyst at Commonwealth Bank of Australia.
“We expect the war to run at least into June, with the risk tilted to a longer conflict.”
The clampdown on the Strait has sent prices for oil, gas, fertiliser, plastic and aluminium surging, along with fuel for planes and shipping. Prices for food, pharmaceuticals and petrochemical products are all set to rise. That is bad news for Asia, as much of the region is highly dependent on energy from the Middle East. Japan’s Nikkei shed another 4.7%, bringing losses for March to almost 14%.
South Korea’s market fell 4.2%, while MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 1.2%.
S&P 500 futures lost 0.7%, while Nasdaq futures fell 0.9%. For Europe, EUROSTOXX 50 futures and DAX futures both slid 1.5%, while FTSE futures fell 1.0%.
Brent crude rose 3.0% to $115.98 a barrel, bringing its gains for the month to 60% and topping the jump that followed Iraq’s invasion of Kuwait in 1990. U.S. crude climbed 3.0% to $102.52, making a monthly rise of 53%.
“The longer the Strait remains closed, the sharper the drawdown in buffer supplies that could spark dramatic increases in the price of crude oil, natural gas and other commodities,” warned Bruce Kasman, global head of economics at JPMorgan.
“A scenario in which the Strait remains closed for an additional month would be consistent with oil prices rising towards $150/bbl and constraints on industrial consumers of energy supply.”
FED IN FOCUS AS PAYROLLS LOOM
The inflationary threat has led investors to revise up the outlook for interest rates almost everywhere. Markets now imply 12 basis points of tightening by the Federal Reserve this year, compared with 50 basis points of cuts a month ago.
Fed Chair Jerome Powell will have a chance to air his own views at an event later on Monday, and the influential head of the New York Fed, John Williams, is also talking.
Data on U.S. retail sales, manufacturing and payrolls this week will provide an update on how the economy is travelling. Jobs are seen rising 55,000 in March, after February’s shock 92,000 drop, keeping unemployment at 4.4%.
In the European Union, figures on Tuesday are forecast to show annual inflation leaped to 2.7% in March from 1.9% the month before, though core prices should be steadier.
The energy shock, combined with pressure on fiscal budgets from higher borrowing costs and the need for more defence spending, has slugged sovereign bond markets.
Ten-year U.S. Treasury yields are up roughly 47 basis points for the month so far at 4.428%, while two-year yields have climbed 54 basis points.
Heightened volatility in markets has tended to benefit the U.S. dollar as the world’s most liquid currency. The United States is also a net energy exporter, giving it a relative advantage over Europe and much of Asia.
The dollar was holding at 160.12 yen, having last week crossed the 160 barrier for the first time since July 2024 when Japan last intervened to prop up the currency.
The euro was stuck at $1.1500, not far from the March trough of $1.1409.
In commodity markets, gold was down 1.0% at $4,445 an ounce , having drawn scant support as a safe haven or as a hedge against inflation risks.
Dell unveils $699 XPS 13 laptop in challenge to Apple’s MacBook Neo
BOJ may heed calls to pause bond taper next year
Oil prices rise more than 2% as Israel moves further into Lebanon
‘Barron’s Roundtable’ panelists discuss investment opportunities among airline stocks.
A United Airlines flight bound for Spain returned to Newark Liberty International Airport on Saturday night after a potential security concern prompted the aircraft to turn around over the Atlantic Ocean.
United Flight 236 departed Newark en route to Palma de Mallorca, Spain, but reversed course about 90 minutes into the trip and landed back in New Jersey later that evening.
A spokesperson for United Airlines told FOX Business there were 190 passengers and 12 crew members aboard the Boeing 767 aircraft.
“United flight 236 from Newark to Palma De Mallorca, Spain safely returned to Newark to address a potential security concern,” the airline said in a statement. “The flight continued to Palma De Mallorca with a new crew.”
UNITED FLIGHT CARRYING 221 PASSENGERS HITS POLE AND TRUCK ON APPROACH TO NEWARK
A United Airlines Boeing 767 takes off. A United flight from Newark to Palma de Mallorca, Spain, returned to New Jersey after a potential security concern prompted the aircraft to turn around over the Atlantic Ocean. (Andia/Universal Images Group via Getty Images / Getty Images)
AirLive.net reported that the incident began after flight attendants instructed passengers to disable their Bluetooth connections. Passengers later said the crew repeatedly warned that the request came from United’s operations center and that the flight could not continue unless the issue was resolved.
One passenger told the outlet that crew members made several announcements regarding a potential safety concern linked to a Bluetooth device and eventually issued a final warning before the aircraft changed course.
The warnings reportedly became increasingly urgent as crew members attempted to identify the source of the device. Passengers cited by the publication said flight attendants indicated the issue had been escalated and that the aircraft could be forced to return if the matter remained unresolved.
UNITED PILOT REPORTS MIDAIR DRONE SCARE NEAR AIRPORT DURING LANDING APPROACH
A United Airlines flight from Newark to Spain turned around over the Atlantic and returned safely to New Jersey after a potential security concern emerged onboard. Reports indicate the issue stemmed from a Bluetooth device whose visible name included (REUTERS/Eduardo Munoz/File Photo / Reuters Photos)
Air traffic control communications reviewed by AirLive.net indicated the aircraft returned to Newark after concerns arose about the name of a Bluetooth-enabled device visible to others onboard.
The outlet reported that the device’s discoverable name included the word “bomb,” which led to a security response and the flight’s eventual return to Newark.
The flight crew ultimately decided to discontinue the trip and return to Newark rather than continue across the Atlantic with the issue unresolved, according to the report.
UNITED AIRLINES RAISING TICKET PRICES UP TO 20% AS FUEL COSTS SURGE AMID IRAN WAR
Flight-tracking data shows the route of United Airlines Flight 236, which turned around over the Atlantic Ocean and returned to Newark Liberty International Airport while en route to Palma de Mallorca, Spain, on May 30, 2026. (Credit: FlightRadar24.com / Fox News)
After the aircraft landed safely, law enforcement officers and security personnel met the plane. Passengers were removed while authorities conducted a security inspection.
Travelers were permitted to take only limited personal items with them as they exited the aircraft, according to the report. Passengers were later rescreened before boarding a replacement flight, while the aircraft and checked luggage underwent additional security screening.
Passengers were transported around the airport while security personnel inspected the aircraft, according to the report.
CLICK HERE TO GET FOX BUSINESS ON THE GO
United has not publicly identified the passenger connected to the device or announced whether any charges or penalties are being considered.
FOX Business has reached out to the Port Authority of New York and New Jersey for additional information about the incident.
AUKUS to develop unmanned undersea vehicles, delivery set for 2027
Berkshire Hathaway Has First Takeover by CEO Abel, Paying $8.5 Billion for a Homebuilder
Berkshire Hathaway agreed on Sunday to buy home builder Taylor Morrison Home Corp.for TMHC -0.39%decrease; red down pointing triangle $6.8 billion in cash.
Berkshire will pay $72.50 per share for the Scottsdale, Arizona-based home developer, a 24% premium to Taylor Morrison’s closing stock price of $58.50 on Friday.
Copyright ©2026 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Could GLP-1 drugs become oncology’s next big opportunity?
German infrastructure fund misses its spending targets, Handelsblatt says
adventtr/E+ via Getty Images
Listen below or on the go via Apple Podcasts and Spotify
Quantinuum attracts strong demand ahead of debut. (0:17) Broadcom earnings focus shifts to accelerating AI chip demand. (1:09) May jobs report tests outlook for a cooling labor market. (1:58)
The following is an abridged transcript:
Quantum computing firm Quantinuum (QNT) is set to go public this week, with reports that the offering is already oversubscribed by a double-digit multiple of the shares available.
The company, which is owned by Honeywell (HON), plans to offer 21.05 million shares at between $45 and $50 each. At the top end of that range, Quantinuum would raise about $1.05 billion and be valued at roughly $13 billion.
The stock is expected to trade on the Nasdaq under the ticker symbol QNT.
Quantinuum generated 2025 revenue of $30.9 million, up from $23 million in 2024, while its net loss widened to $192.6 million as the company continued investing in growth and commercialization.
The company recently signed an agreement with the U.S. government to receive research and development funding aimed at addressing technology bottlenecks in fault-tolerant trapped-ion quantum computers.
On the earnings front, Broadcom (AVGO) highlights the week when it reports Wednesday after the close.
Wall Street expects EPS of $2.40 on revenue of about $22 billion.
Analysts have turned increasingly bullish ahead of the report.
Oppenheimer expects a beat-and-raise quarter driven by AI demand and says Broadcom remains the number-two AI accelerator player behind Nvidia (NVDA).
Susquehanna also raised its price target ahead of results, citing continued momentum in Broadcom’s custom AI chips and networking business.
Analysts said AI revenue could exceed $100 billion in fiscal 2027 as customer demand continues to broaden.
Also on the earnings calendar, Hewlett Packard (HPE) and Credo Technology (CRDO) report Monday.
Earnings spotlight: Tuesday: Palo Alto Networks (PANW) and Ulta Beauty (ULTA) are up Tuesday.
CrowdStrike (CRWD) and Medtronic (MDT) joing Broadcom on Wednesday.
Ciena (CIEN), Lululemon (LULU) and DocuSign (DOCU) weigh in on Thursday.
On the economic calendar, Friday’s jobs report is the main event.
Economists expect 96,000 jobs to have been added in May, down from 115,000 in April, while the unemployment rate is expected to hold at 4.3%.
Average hourly earnings are forecast to rise 0.3% for the month.
Wells Fargo says the labor market remains stuck in a low-fire, low-hire environment that is no longer deteriorating, but isn’t showing meaningful improvement either.
In the news this weekend, Waymo unveiled its new Ojai robotaxi minivan, an all-electric vehicle designed specifically for autonomous ride-hailing rather than retail sales.
The company says the vehicle is roomier, cheaper to operate and built around its sixth-generation self-driving system. Analysts say the lower operating costs could eventually help Waymo undercut human-driven ride-hailing services in some markets.
And Microsoft (MSFT) and Nvidia (NVDA) are expected to unveil the first Windows PCs powered by Nvidia chips as the primary processor at Computex and Microsoft’s Build conference this week.
The launch could mark a significant expansion of Nvidia’s push beyond AI servers and into the PC market.
And for income investors, McDonald’s (MCD) goes ex-dividend on Tuesday and pays out on June 16.
Halliburton (HAL) goes ex-dividend on Wednesday with a June 24 payout date.
Cigna (CI) goes ex-dividend on Thursday and pays out on June 18.
And Western Digital (WDC) goes ex-dividend on Friday with a payout date of June 17.
Harry And Meghan’s Financial Reality EXPOSED As Royal Property Scandal Reignites Debate | WATCH
Eid al-Adha celebrated by families at Darlington Market
US and UK central bankers diverge on stablecoin regulation
-
NewsBeat4 days agoIsrael says it has killed new Hamas military leader in Gaza City airstrikes
-
Tech5 days agoNASA taps Blue Origin to deliver lunar rovers for Moon Base initiative
-
Politics6 days agoBridgerton Season 5: Cast, Release Date And Everything We Know So Far
-
News Videos5 days agoXRP *JUST* SUCCEEDED!!!! CLARITY ACT EXPOSED!!! (SHE EXPOSED IT)
-
Sports6 days ago2026 NBA Finals schedule, odds: Knicks await Thunder or Spurs after winning East
-
Crypto World5 days agoMicron Crosses $1 Trillion Market Cap as AI Demand Reshapes Memory Sector
-
Business5 days agoSelena Gomez Reportedly Upset Over Benny Blanco’s Comments on Her ‘Terrible’ Diet
-
News Videos2 days agoThis is BROKEN! INSANE 5x MONEY CAR WASH WEEK! The NEW GTA Online UPDATE Today! (GTA5 New Update)
-
Business7 days agoBTS Sells Out Four Las Vegas Shows at Allegiant Stadium for ARIRANG World Tour
-
NewsBeat6 days agoHottest May day ever as London hits 34.8C in 2C leap from previous records
-
Tech6 days agoChina assigns ID codes to 28,000+ humanoid robots
-
Tech6 days agoMicrosoft’s quiet Claude Code retreat and the real cost of enterprise AI
-
Tech3 days agoWaymo dominates autonomous vehicle registrations as Tesla trails behind
-
Business6 days agoNikkei 225 Surges Past 65,000 for First Time as Iran Peace Hopes Fuel Record Rally
-
Tech4 days ago
The Samsung pay deal is the moment Korean unions changed register
-
NewsBeat6 days agoCrowds find riverside shade in York as temperatures soar
-
Tech6 days agoWestone Audio and Etymotic Acquired by Fidelity Collective in Major IEM Market Move
-
Entertainment6 days ago‘Breaking Bad’ Star’s Easy-to-Binge 6-Part Crime Series Spin-Off Is Finally Heading to Free Streaming
-
Tech5 days agoMillions of AI agents imperiled by critical vulnerability in open source package
-
Crypto World4 days ago
SpaceX’s $2 Trillion IPO: Why Tech Giants Nvidia (NVDA), Apple (AAPL), and Microsoft (MSFT) May Face Pressure
You must be logged in to post a comment Login