White House requests $87.6 billion supplemental spending for Iran war, farm aid
White House Office of Management and Budget Director Russell Vought asked House Speaker Mike Johnson for billions in extra spending for the Iran war.
Federal Reserve says U.S. banks can withstand $708 billion in losses amid overhaul of capital rules
The Fed’s annual exercise comes at a pivotal moment for bank regulation because, unlike previous years, the results will not affect capital requirements.
Micron stock jumps 10% as soaring prices from memory crunch lead to quadrupling of revenue
Micron’s quarterly earnings report follows a 700% surge in the memory maker’s stock price over the past year.
Energy secretary says U.S. has ended Iran’s ability to close Strait of Hormuz
Some 72 ships loaded with 19 million barrels of oil have passed through Hormuz in the past 24 hours, Energy Secretary Chris Wright said.
Oil tankers with 35 million barrels stuck in Persian Gulf exited Strait of Hormuz since Iran deal
The jump in oil exports comes as the threat level for ships crossing Hormuz has been downgraded to “moderate.”
Stocks making the biggest moves midday: Cerebras Systems, KB Home, Expedia, Exxon Mobil & more
Here are the companies making headlines in midday trading.
Cerebras CEO says margin forecast was ‘misunderstood’ as stock plummets after earnings
AI chipmaker Cerebras has a staggered lock-up expiration that includes some shares becoming available for trading this week.
Toyota is gaining on General Motors in U.S. sales, according to new forecast
Toyota has notably leaned into hybrid vehicles while GM and others bet on all-electric vehicles, which saw lower-than-expected adoption from consumers.
Amazon’s Zoox unveils redesigned robotaxi ahead of upcoming expansion
Zoox is updating its robotaxis as the Amazon division plots expansion in additional markets and prepares to charge for rides.
Trump cancels signing of bipartisan housing bill, demanding voter-ID provision
President Donald Trump abruptly canceled the signing of a bill aimed at increasing housing affordability an hour before he was due at the Capitol for the ceremony.