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Business

SpaceX stock soars, makes Musk the first trillionaire

NEW YORK (AP) — Elon Musk became the world's first trillionaire after shares of his rocket company SpaceX soared in Wall Street's biggest initial public offering of stock. Shares in SpaceX jumped more than 19% after opening for trading Friday, a sign that investors are looking past the ...

Stocks have best day in months on hopes for oil transit deal

NEW YORK (AP) — U.S. stocks rallied to their best day in two months, and oil prices fell Thursday after President Donald Trump called off his threat to bomb Iran in the evening. That raised hopes for a potential deal that could get the global flow of oil going again. The S&P 500 jumped ...

May producer prices in US have largest yearly jump since 2022

WASHINGTON (AP) — U.S. producer prices climbed last month at the fastest pace since November 2022, fueled by a surge in energy prices after the start of the Iran war. The Labor Department reported Thursday that its producer price index — which captures inflation before it reaches consumers ...

Sell-off for AI stocks knocks Wall Street back

NEW YORK (AP) — Another sell-off for artificial-intelligence stocks helped drag the U.S. market sharply lower Wednesday, as Wall Street's former superstars continue to face heavy scrutiny for their success. The S&P 500 dropped 1.6% for its first back-to-back drop in three weeks and is ...