The biggest float in history sold investors a space story. Read the prospectus, and 93% of the pitch is artificial intelligence. Elon Musk rang the Nasdaq opening bell from Starbase on Friday, and the biggest initial public offering in history began trading under the ticker SPCX. SpaceX priced at US$135 a share, raised roughly $75 billion, and closed its first session 19.34% higher at $161.1
The United States and Iran have agreed to a peace deal aimed at ending their nearly four-month conflict, according to announcements from both Pakistan and U.S. President Donald Trump. Pakistan Prime Minister Shehbaz Sharif said on Sunday that the two sides had agreed to immediately and permanently cease military operations across all fronts, including in Lebanon, following weeks of negotiations
Consumer sentiment in the United States improved modestly in June as easing petrol prices provided relief to households, though confidence remains near historic lows amid persistent inflation concerns. Data released on Friday by the University of Michigan's Surveys of Consumers showed lower-income households drove much of the improvement in sentiment, reflecting the disproportionate impact of f
Unites States major benchmark averages closed higher on Monday (Tuesday AEST), with the Dow Jones Industrial Average closing at a record high and the Nasdaq posting its strongest gain in weeks after the U.S. and Iran reached a preliminary agreement aimed at ending the Middle East conflict and reopening the Strait of Hormuz. The Dow Jones Industrial Average rose 468.8 points, or 0.9%, to finish
Anthropic has suspended access to its most advanced artificial intelligence (AI) models in response to a United States Government order based on national security concerns. The privately-owned but soon-to-be-listed AI model developer said it received the export-control directive on Friday, requiring it to suspend access to its newly launched Fable 5 and Mythos 5 models for foreign nationals.
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Recent speeches and policy remarks from current and former Federal Reserve officials have cast a spotlight on growing tensions over the direction of United States monetary policy, as inflation concerns persist and the central bank enters a new leadership era under Chair Kevin Warsh. Former Federal Reserve Chair Jerome Powell warned that rising political pressure on the central bank could underm
United States producer prices rose more than expected in May, recording their largest annual increase in three-and-a-half years as higher energy costs linked to the Middle East conflict fuelled inflationary pressures across the economy. According to the Bureau of Labor Statistics (BLS), the producer price index (PPI) for final demand increased 1.1% in May after an upwardly revised 1.1% gain in
Adobe (NASDAQ: ADBE) reported record revenue of US$6.62 billion for the three months ended 29 May 2026 - up 13% year-on-year, or 11% in constant currency, clearing consensus estimates of $6.45 billion. The Photoshop maker beat the Street on every headline line, raised full-year guidance and tripled its AI-first revenue base - yet shares still fell after hours as a surprise CFO departure handed
Donald Trump cancelled Thursday night's planned attacks on Iran hours after promising them, declared a peace agreement approved by all parties, and the Dow jumped more than 900 points as Brent crude slid towards US$88 per barrel. Not bad for a 24-hour stretch in which the same account had vowed to hit Iran very hard that night and seize Kharg Island, the country's main oil export hub. Here's
Oracle Corporation shares fell in extended deals on Wednesday (Thursday AEST) due to worries about the scale of its artificial intelligence (AI) investment and despite the company reporting stronger-than-expected earnings for the fourth quarter of the 2026 financial year (Q4 FY26). The shares dropped US$12.26 (6.09%) to $189.00 in after-hours trading after the software and cloud-computing giant