The Global Economic News

Minneapolis Federal Reserve President Neel Kashkari said Friday he has changed his outlook and now expects that one interest rate increase will be necessary this year. In remarks just over a week after the Federal Open Market Committee voted to hold its benchmark rate steady, Kashkari said he sees a hike as likely this year as the economy continues to feel the hit from spiking inflation tied to fighting in the Middle East. "In March, I had penciled in one rate cut by the end of the year. In June, I've changed that to one rate hike by the end of the year," the policymaker said during a panel discussion at the Aspen Ideas Festival. "It's a pencil, and so we're going to have to see how the data comes in." A Commerce Department report earlier this week showed that the headline inflation rate as gauged by the Fed's preferred measure rose to 4.1%, the highest since April 2023. Stripping out food and energy costs, core inflation was at 3.4%, also marking a...

Some offers on this page are from advertisers who pay us, which may affect which products we write about, but not our recommendations. See our Advertiser Disclosure . The new Repayment Assistance Plan (RAP) explained: Payments, forgiveness, and who qualifies K Kat Tretina Updated Fri, June 26, 2026 at 7:34 AM PDT 6 min read Federal student loans make up the majority of outstanding education debt, and part of their appeal is that they've historically offered more repayment options and borrower protections than other loans. In fact, more than half of all federal student loan borrowers about 55% are enrolled in an alternative repayment plan. But the U.S. Department of Education is phasing out most existing payment options , and as of July 1, 2026, the new Repayment Assistance Plan (RAP) will be the primary income-based repayment option going forward. The new plan changes how loan servicers calculate borrowers' monthly payments and extends the repayment term for many borrowers. Un...

Image source, AFP via Getty Images By Osmond Chia Business reporter Published 6 hours ago Asian stock markets fell sharply on Friday, led by a sell-off in technology firms as investors worried that recent jumps in share prices had gone too far. Trading on South Korea's Kospi was temporarily halted as an 8% fall in the benchmark index triggered a mechanism intended to curb panic selling. The index closed 5.8% lower. It comes after shares in Apple fell sharply on Thursday after it announced it would raise the prices of its iPads and MacBooks due to the soaring cost of computer chips. Some investors are also concerned about the hundreds of billions of dollars being spent this year by big tech firms to build artificial intelligence (AI) infrastructure. Traders are reassessing the valuations of tech stocks, while some are taking profits after a rally in recent months, said senior partner David Makaryan from the Alpha Pacific Group, an investment firm. "The long term investment cas...

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Shipping traffic is recovering a week after the U.S. and Iran signed a deal to reopen the Strait of Hormuz but a renewed attack on a cargo ship Thursday threw fresh uncertainty over the fragile passage, halting the United Nations' evacuation plan and sending some tankers into reverse. In the week following the ceasefire announcement, 125 transits were recorded between June 15-21, marking the highest weekly total since the war began in late February, as tankers rushed to move stored Gulf crude before the 60-day truce window expires. On June 24, AXS Marine recorded 62 commercial vessel crossings , the highest single-day count since the war started, but only equivalent to 53% of the traffic on the same day last year. The Islamic Revolutionary Guard Corps on Wednesday declared that all ships must use only its northern route and comply with Iranian routing instructions. Hours later, the Ever Lovely a Singapore-flagged Evergreen container ship was struck on its starboard side by a proje...

IBM Shares Jumped 5% After JPMorgan Upgraded the Stock on Software Acceleration. Here Is What IBM Stock Needs to Sustain the Momentum. Ebube Jones Wed, June 24, 2026 at 2:13 PM PDT 5 min read IBM ^NDX SNDK MU 005930.KS The tech sector took a hit on June 22, 2026. The Nasdaq 100 ($IUXX) dropped 3.29%, while the iShares Semiconductor ETF (SOXX) fell 7.88%. In Asia, South Korea's Kospi slid over 10% as foreign investors pulled more than $2.5 billion from chip stocks. Sandisk (SNDK) lost 13.64%, Micron Technology (MU) lost 13.18%, while Samsung Electronics dropped more than 12%. The sell-off started in Asia and spread globally as investors began questioning whether heavy AI spending can really support current chip valuations. But while chip stocks were falling, International Business Machines (IBM) moved the other way. The stock jumped 5.3% in midday training to lead the Dow Jones industrials after JPMorgan upgraded it to "Overweight" from "Neutral" and raised its ...

Image source, Natasha Suman Image caption, Natasha Suman (right) with her parents, Rita and Pawan By Daniel Thomas , Lizzie Asante and Kris Bramwell Published 8 hours ago When 24-year-old Natasha Suman moved back into her parents' home in Bedford after university, she only expected it to be for a "few months" while she searched for her first job. But almost three years later, she's still there, saving for a deposit on her first home. The marketing coordinator pays towards bills but doesn't pay rent, so is able to put aside 1,000 a month in a Lifetime ISA - a tax-free account topped up by the government. That would have been impossible had she lived by herself, she says, given the "cost of living". However, Natasha admits she has "less freedom" than when she lived independently and generally does fewer "spontaneous things". She also argues more with her family than she used to, despite feeling very fortunate to live with them. "W...

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Some offers on this page are from advertisers who pay us, which may affect which products we write about, but not our recommendations. See our Advertiser Disclosure . Own SpaceX stock? Here's what to do next. Hal Bundrick, CFP Senior Writer Updated Wed, June 24, 2026 at 8:35 AM PDT 4 min read For investors who were able to land SpaceX IPO shares or buy the stock as it began trading the opening day and successive trading sessions were a thrill ride. SpaceX stock ( SPCX ) opened at $150 and climbed past $160. Another near-20% gain the following Monday saw Elon Musk's spaceflight, satellite communications, and AI company achieve a high orbit of $192.50. By its third trading day, SpaceX surpassed Amazon to become the fifth-largest publicly traded company by market value. To the moon, right? Yet, as any savvy investor knows, things can get ugly fast: The stock quickly returned to Earth in a three-day slide that erased about $600 billion off its market value. As the saying goes, hop...

S&P 500 futures fell Thursday night after a decline in tech giants weighed on the broad market index. S&P 500 futures were down 0.6%, while Nasdaq 100 futures lost 1.3%. Dow Jones Industrial Average futures fell by 81 points, or about 0.15%. Investors continued to move out of tech names on Thursday, causing the Nasdaq Composite to pull back 0.46% and notch its first four-day losing streak since February. The S&P 500 slipped 0.01%. On the other hand, a rotation into healthcare, financial and industrial names boosted the blue-chip Dow 71.72 points, or 0.14%, higher. Asia-Pacific markets mostly fell on Friday, with South Korea's Kospi leading declines in the region, falling 6%, while the small-cap Kosdaq lost more than 2%. Japan's Nikkei 225 declined 3.82% while the Topix was down 1.26. In Australia, the benchmark S&P/ASX 200 was flat. Hong Kong's Hang Seng index was down almost 2% while the mainland's CSI 300 lost 2.3%. In Thursday's regular session, ...

Stocks making the biggest moves midday: BB, KYMR, AAPL, WEN Skip Navigation Markets Business Investing Tech Politics Video Watchlist Investing Club PRO Livestream Menu Check out the companies making the biggest moves midday: Kymera Therapeutics The biotech stock surged 17% after Kymera enrolled in a Phase 2b Broaden2 trial for its KT-621 drug, which aims to treat atopic dermatitis. BlackBerry Shares rallied 20% after the software company and former maker of the eponymous cellphone posted better-than-expected fiscal first-quarter results. BlackBerry earned an adjusted 4 cents per share on revenue of $152.9 million. Analysts expected a profit of 3 cents per share on revenue of $137.2 million, per FactSet. Apple Shares of the iPhone maker slid nearly 5% after Apple announced price hikes on MacBooks and iPads. The company pointed to growing demand and rising costs for memory and storage as a driver. AeroVironment Shares of the maker of unmanned aircraft systems slid 4%. AeroVironment is s...

Trump isn't happy that gas prices are falling more slowly than crude oil. He's not the first president to be frustrated. Ben Werschkul Washington Correspondent Wed, June 24, 2026 at 6:01 AM PDT 3 min read CL=F President Trump slammed oil companies in an early-morning social media post on Wednesday for prices at the pump that are not falling as quickly as crude oil prices since energy began flowing more freely through the Strait of Hormuz . "Customers are being 'gouged,'" the president wrote on Truth Social just after midnight, adding that he had instructed his Department of Justice to investigate. "Gasoline prices better start going down a lot faster than what I'm seeing!" Trump's frustration with the lag is a common one among presidents it flummoxed President Biden just a few years ago and is reflected in price fluctuations in recent weeks. Both crude oil and pump prices have been falling over the last week, but crude has moved down at a fa...

Two Federal Reserve officials on Thursday indicated some optimism on inflation, though neither indicated a likelihood that interest rates will change anytime soon. Chicago Federal Reserve President Austan Goolsbee said Thursday that inflation is still trending the wrong way though there have been a few bright spots. A little later in the afternoon, New York Fed President John Williams said he expects inflation readings to start trending lower. In a live CNBC interview from his home district, Goolsbee declined to speculate on where he thinks interest rates are headed. However, he said he remains squarely focused on inflation, in remarks that reflected sentiment new Fed Chairman Kevin Warsh expressed a week ago. "You have seen now little bit of improvement on this services inflation, and I've been identifying that as something that we would want to see," Goolsbee said from the trading floor of the Cboe. "But right now, as between the two sides of the Fed's mandate...

How Applied Materials Could Become the Next $1 Trillion Chip Stock Omor Ibne Ehsan Wed, June 24, 2026 at 8:02 AM PDT 4 min read AMAT C Applied Materials (AMAT) is among the handful of companies that are building the incredibly complex machines that allow foundries to turn bare silicon wafers into advanced processors. It has thus surged massively over the past few years and has a market capitalization close to half a trillion dollars as of this writing. Citi recently doubled down on AMAT stock, plus some competitors that are doing equally as well. It's worth taking a closer look at these stocks since they are likely to keep surging. Chip demand has shown no sign of slowing down, and analysts are racing to bump price targets. If the rally continues, these AI-adjacent stocks may be the next category to cross the $1 trillion mark and beyond. More News from Barchart Ahead of Micron Earnings, Here's What Barchart Data Says Comes Next for MU Stock Huge, Unusual In-the-Money Call Opti...