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Yahoo
2 hours ago
- Business
- Yahoo
Drone Communication Company Evaluation Report 2025: DJI, RTX, and Northrop Grumman Lead the Charge in Advanced Drone Tech
Explore the dynamic growth of the Drone Communication Market with the comprehensive Drone Communication Companies Quadrant report. Unveiling cutting-edge innovations and industry trends, the quadrant evaluates over 140 companies, spotlighting the top 15 leaders in advanced UAV communication technology. Key players like DJI, RTX, and Northrop Grumman are at the forefront, driving innovations such as BVLOS capabilities and SATCOM integration, empowering drones across defense, logistics, and emergency sectors. With a focus on secure data transmission and automation, the market is poised for transformative advancements. Discover how industry giants prioritize technological excellence and strategic growth in this evolving landscape. Dublin, June 20, 2025 (GLOBE NEWSWIRE) -- The "Drone Communication - Company Evaluation Report" report has been added to Drone Communication Companies Quadrant is a comprehensive industry analysis that provides valuable insights into the global drone communication market. This quadrant offers a detailed evaluation of key market players, technological advancements, product innovations, and industry trends. Over 140 companies were evaluated, of which the top 15 Drone Communication companies were categorized and recognized as the quadrant drone communication market is experiencing significant growth, driven by rapid technological advancements, rising military adoption of unmanned aerial vehicles (UAVs), and the increasing need for secure, encrypted data transmission. Enhanced communication systems allow UAVs to operate beyond the visual line of sight (BVLOS), boosting efficiency across defense, logistics, and emergency response operations. In critical missions, robust and secure communication frameworks are essential to counter cyber threats and ensure reliable data technological innovations shaping the market include BVLOS capabilities, mesh networking, advanced encryption methods, and hybrid communication systems. The integration of satellite communication (SATCOM) is extending operational range, while technologies such as the Internet of Drones (IoD) and vehicle-to-everything (V2X) communication are enabling seamless interaction between UAVs and surrounding systems. These advancements are paving the way for greater automation, enhanced situational awareness, and improved overall performance of drone 360 Quadrant maps the Drone Communication companies based on criteria such as revenue, geographic presence, growth strategies, investments, and sales strategies for the market presence of the Drone Communication quadrant. The top criteria for product footprint evaluation included Application (Military, Commercial, Government & law enforcement, and consumer sectors). Connectivity (Satellite and cellular connectivity), and Technology (Radio Frequency (RF), cellular, satellite, and meshed network technologies).Key Players:Leading industry players such as DJI (China), RTX (U.S.), Northrop Grumman (U.S.), Israel Aerospace Industries (Israel), and L3Harris Technologies, Inc. (U.S.) are actively investing in advanced communication technologies to enhance UAV capabilities. These companies are prioritizing the development of secure, scalable, and efficient communication systems to support the expanding use of drones across defense, commercial, and emergency response leads the global drone communication market with a strong product portfolio that includes innovative technologies like the DJI Lightbridge 2 and DJI AirSense. Their commitment to product excellence and strategic choices positions them ahead, while their global reach and reliable distribution networks further solidify their market specializes in a range of technologies crucial to drone communication, including the AN/ARC-210 RT-2036 (C) and Piccolo Flight Management System. The company maintains its competitive edge through continuous innovation and strategic partnerships, which enhance its position in the global GrummanNorthrop Grumman excels in providing technologically advanced solutions for the defense sector. The company's focus on high-impact contracts and product development helps sustain its leadership status in the Topics Covered: 1 Introduction1.1 Market Definition1.2 Inclusions & Exclusions1.3 Stakeholders2 Executive Summary3 Market Overview3.1 Introduction3.2 Market Dynamics3.2.1 Drivers3.2.1.1 Advancements in Communication Technologies3.2.1.2 Increasing Procurement of UAVs in Military Applications3.2.1.3 Growing Need for Secure and Encrypted Communication3.2.2 Restraints3.2.2.1 Cybersecurity Risks and Data Vulnerabilities3.2.2.2 Regulatory and Airspace Restrictions3.2.3 Opportunities3.2.3.1 Commercial Expansion in Urban Air Mobility (Uam) and Logistics3.2.3.2 Emergence of Swarm Drone Communication3.2.3.3 Increasing Adoption of Drone-based Emergency and Humanitarian Response System3.2.4 Challenges3.2.4.1 Interoperability and Standardization Issues3.2.4.2 Limited Spectrum Availability and Frequency Congestion3.3 Value Chain Analysis3.4 Trends & Disruptions Impacting Customer Business3.5 Ecosystem Analysis3.5.1 Drone Manufacturers3.5.2 Drone Communication System Manufacturers3.5.3 End-users3.6 Technology Analysis3.6.1 Key Technologies3.6.1.1 Cognitive Radio Systems3.6.1.2 Multiple-Input Multiple-Output (Mimo) Technology3.6.1.3 Software-Defined Networking3.6.2 Complementary Technologies3.6.2.1 Antenna Beamforming Technology3.6.3 Adjacent Technologies3.6.3.1 Advanced Energy and Battery Storage Systems3.7 Technology Roadmap4 Industry Trends4.1 Introduction4.2 Technology Trends4.2.1 Beyond Visual Line of Sight (Bvlos) Communication4.2.2 Mesh Networking4.2.3 Drone Communication Encryption4.2.4 Internet of Drones (Iod) and Vehicle-To-Everything (V2X) Communications4.2.5 Hybrid Communications4.2.6 Satcom Integration4.3 Impact of Mega Trends4.3.1 AI4.3.2 5G4.3.3 Smart Manufacturing4.4 Impact of Gen AI/AI4.4.1 Introduction4.4.2 Adoption of AI in Commercial Aviation by Top Countries4.5 Patent Analysis5 Competitive Landscape5.1 Introduction5.2 Key Player Strategies/Right to Win, 2020-20245.3 Revenue Analysis, 2020-20235.4 Market Share Analysis, 20235.5 Company Evaluation Matrix: Key Players, 20245.5.1 Stars5.5.2 Emerging Leaders5.5.3 Pervasive Players5.5.4 Participants5.5.5 Company Footprint5.5.5.1 Region Footprint5.5.5.2 Technology Footprint5.5.5.3 Type Footprint5.5.5.4 Application Footprint5.6 Company Evaluation Matrix: Startups/SMEs, 20245.6.1 Progressive Companies5.6.2 Responsive Companies5.6.3 Dynamic Companies5.6.4 Starting Blocks5.6.5 Competitive Benchmarking5.6.5.1 List of Startups/SMEs5.6.5.2 Competitive Benchmarking of Startups/SMEs5.7 Company Valuation and Financial Metrics5.8 Supplier Analysis5.9 Brand/Product Comparison5.10 Competitive Scenario5.10.1 Product Launches5.10.2 Deals5.10.3 Other Developments6 Company Profiles Dji Rtx Northrop Grumman Israel Aerospace Industries L3Harris Technologies, Inc. Elbit Systems Ltd. Bae Systems Aerovironment, Inc. Honeywell International Inc. Viasat, Inc. Iridium Communications Inc Thales General Dynamics Corporation Aselsan A.S. Echostar Corporation Elsight Doodle Labs LLC Skytrac Systems Ltd. Triad Rf Systems Tualcom Uavionix Ultra Silvus Technologies Persistent Systems, LLC Meteksan Defence Industry Inc. For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
Canada News.Net
13 hours ago
- Business
- Canada News.Net
Nasdaq Composite rises 25 points in lackluster day for U.S. markets
NEW YORK, New York - U.S. stocks made only minor moves in both directions,Thursday, as investors fretted about the Israel-Iran conflict and speculation the U,S. may once more be going to war in the Middle East. The U.S. dollar gained ground as European shares fell sharply after a sell-off in travel-related stocks. Skies over Europe were less crowded Thursday as flights were cancelled. United Airlines announced it would stop flying to Dubai. Meantime the Bank of England left interest rates unchanged at 4.25 percent on Thursday. "Underlying UK GDP growth appears to have remained weak, and the labour market has continued to loosen, leading to clearer signs that a margin of slack has opened up over time," the central bank said in a statement Thurrsday. "Measures of pay growth have continued to moderate and, as in May, the Committee expects a significant slowing over the rest of the year," the bank said. In the U.S., President Donald Trump slammed Federal Reserve Chair Jerome Powell for not cutting rates a day earlier, a decision made by the Fed's FOMC committee. Nonetheless the president , who believes rates should be 2.5 percent lower, referred to Mr Powell, as "not a smart person," and "a real dummy," in a midnight post on Truth Social. U.S. Markets Show Resilience Thursday The Standard and Poor's 500 (^GSPC) edged slightly lower, closing at 5,980.87, down 1.85 points or 0.03 percent, as trading volume reached 2.942 billion shares. The Dow Jones Industrial Average (^DJI) dipped 44.14 points, or 0.10 percent, settling at 42,171.66, with 487.536 million shares traded. Meanwhile, the NASDAQ Composite (^IXIC) bucked the trend, rising 25.18 points, or 0.13 percent, to 19,546.27, on a heavy volume of 7.151 billion shares. U.S. Dollar Split, Major Currencies as Euro and Pound Gain Ground Thursday's foreign exchange market saw the U.S. dollar firming against several major currencies, while the euro and British pound posted modest gains. Euro and Pound Edge Higher The euro (EUR/USD) rose 0.12 percent against the US dollar, trading at 1.1492, as investors weighed recent economic data from the Eurozone. Meanwhile, the British pound (GBP/USD) climbed 0.35 percent to 1.3464, supported by expectations of a more hawkish Bank of England stance, after the central bank left interest rates unchanged at 4.25 percent at its monthly meeting on Thursday. The U.S. dollar (USD/JPY) strengthened 0.26 percent against the Japanese yen, reaching 145.47, as traders anticipated further divergence between Federal Reserve and Bank of Japan policies. The greenback also advanced 0.08 percent against the Canadian dollar (USD/CAD), settling at 1.37042, amid stregthening oil prices. The U.S. dollar (USD/CHF) dipped 0.12 percent against the Swiss franc, trading at 0.8164, as the safe-haven currency found some support. However, the Australian dollar (AUD/USD) fell sharply by 0.51 percent to 0.6474, pressured by weaker commodity demand. The New Zealand dollar (NZD/USD) also declined 0.66 percent to 0.5987, reflecting broader risk-off sentiment. Global Markets Close Mixed on Thursday as European and Asian Indices Lag Thursday's trading session saw a mixed performance across global stock markets, with UK, European and Asian markets closing with significant losses. Canadian Markets Canada's S&P/TSX Composite (^GSPTSE) dipped 53.85 points, or 0.20 percent, to 26,506.00, with 86.945 million shares traded. UK and European Markets Slide Indices struggled, with the FTSE 100 (^FTSE) dropping 51.67 points, or 0.58 percent, to 8,791.80. Germany's DAX (^GDAXI) tumbled 260.43 points, or 1.12 percent, to 23,057.38, while in France Thursday, the CAC 40 (^FCHI) fell 102.67 points, or 1.34 percent, to 7,553.45. The broader EURO STOXX 50 (^STOXX50E) declined 69.88 points, or 1.33 percent, closing at 5,197.03. Belgium's BEL 20 (^BFX) saw a modest drop of 14.28 points, or 0.32 percent, ending at 4,411.71. Asian and Pacific Markets Under Pressure Asian markets faced broad declines, with Hong Kong's Hang Seng Index (^HSI) plunging 472.95 points, or 1.99 percent, to 23,237.74. In China, the Shanghai Composite ( dropped 26.70 points, or 0.79 percent, to 3,362.11, with 2.878 billion shares traded. Japan's Nikkei 225 (^N225) declined 396.81 points, or 1.02 percent, to 38,488.34. In Singapore the STI Index (^STI) slipped 26.63 points, or 0.68 percent, to 3,894.18, while Australia's S&P/ASX 200 (^AXJO) dipped 7.50 points, or 0.09 percent, to 8,523.70. The broader Australian All Ordinaries (^AORD) fell 16.50 points, or 0.19 percent, to 8,741.40. India's S&P BSE SENSEX (^BSESN) retreated 82.79 points, or 0.10 percent, to 81,361.87, while in Indonesia, the IDX Composite (^JKSE) dropped sharply by 139.15 points, or 1.96 percent, to 6,968.64. Malaysia's KLSE (^KLSE) lost 10.51 points, or 0.70 percent, closing at 1,501.44. New Zealand's S&P/NZX 50 (^NZ50) declined 58.27 points, or 0.46 percent, to 12,569.05, while South Korea's KOSPI (^KS11) managed a slight gain of 5.55 points, or 0.19 percent, ending at 2,977.74. Taiwan's TWSE (^TWII) fell sharply by 353.23 points, or 1.58 percent, to 22,003.50. Middle East and Africa Egypt's EGX 30 (^CASE30) suffered a steep decline, losing 590.60 points, or 1.92 percent, to 30,248.40, with 169.507 million shares changing hands. Israel's TA-125 (^ a standout, rising 28.40 points, or 1.00 percent, to 2,868.81. South Africa's JSE Top 40 (^ fell 52.25 points, or 1.00 percent, to 5,178.99.
Gizmodo
2 days ago
- Business
- Gizmodo
DJI Portable Power Station Gets 55% Off as Part of Amazon's Surprise Early Deals, Limited Time Only
Most of us don't think much about electricity until it's not there. Until the lights go out during a storm or you're packing for a weekend trip off-grid and you realize hey! You need power! That's why a reliable portable power station is always a good idea. It can go from a luxury to a necessity in a flash. And when you're counting on one to keep your laptop, phone, fridge, or even medical equipment running, quality and performance really matter. So with that in mind, it might be time to invest in this deal. See at Amazon Check out Amazon to get the DJI Power 1000 Portable Power Station for just $449, down from its usual price of $999. That's $550 off and a discount of 55%. Stay powered up during any emergency DJI is best known for drones and camera gear, but the brand has quietly made its way into the world of portable power with the same attention to detail and premium build quality. The Power 1000 isn't just a beefy battery pack with some outlets slapped on. It's thoughtfully engineered to give you serious power, fast charging, and flexible options whether you're at home or off the grid. And right now, it's available at a solid discount that makes it much more accessible. Inside the unit is a 1024Wh battery that can deliver up to 2200 watts of output. That means it can run a wide range of devices, from laptops and phones to coffee makers, power tools, and even small fridges. It can handle up to 13 devices at once with a mix of USB-C, USB-A, and full-size AC outlets. It also recharges faster than many other models in this category, going from empty to full in just over an hour with the included wall charger. If you're using solar panels, it's compatible with that too. It's not the lightest device, but it's still compact enough to move easily thanks to a built-in handle. The digital display gives you a live view of your power input, output, and how much battery life is left, so you're never caught off guard. If you've been looking for a reliable power solution for emergencies, camping, or mobile work setups, the DJI Power 1000 is a fantastic option. And think about it, because you're saving a legitimate 55% off here, that's $550 off. Nothing to sneeze at. And with this current markdown, you're getting premium performance without paying full price. It's the kind of upgrade you don't know you need, until you do. See at Amazon
Yahoo
2 days ago
- Business
- Yahoo
Stock market today: Dow, S&P 500, Nasdaq stall as Fed holds rates steady, forecasts 2 cuts in 2025
US stocks were mixed on Wednesday, with the prospect of the US joining Israel-Iran hostilities keeping investors on edge as the Federal Reserve held interest rates steady while officials diverged over the ultimate path of interest rates this year. The Dow Jones Industrial Average (^DJI) fell 0.1% while the S&P 500 (^GSPC) slipped just below the flat line. Meanwhile, the Nasdaq Composite (^IXIC) rose about 0.1%. All three major averages had been up around 0.6% on the day earlier in the trading session. The central bank held rates steady for the fourth meeting in a row. It also released its latest Summary of Economic Projections (SEP), including its "dot plot," which maps out policymakers' expectations for where interest rates could be headed in the future. The median official's forecast for the federal funds rate at the end of 2025 was 3.9%, which would likely represent two 25-basis-point cuts this year. However, officials were more divided on that path, with a handful forecasting no change to rates. Fed Chair Jerome Powell said the right move for the central bank at this juncture was to hold steady to study the near-term path of inflation. "What we are waiting for to reduce rates is to understand what will happen with the tariff inflation. There is a lot of uncertainty about that," Powell said, adding, 'Ultimately, the cost of the tariffs has to be paid." Read more: The latest on Trump's tariffs Markets are also on alert for any sign that the US has joined the Middle East conflict, which has swung stocks around since it broke out last week. President Trump demurred Wednesday when asked if he's moving closer to bombing Iran. "I may do it. I may not do it. I mean, nobody knows what I'm going to do," he said. Iran has warned it will respond firmly if the US crosses a red line into involvement and has reportedly readied missiles for strikes on US bases in the region if it does. Oil prices nudged higher. Brent futures (BZ=F), the international benchmark, were roughly flat above $76 a barrel while West Texas Intermediate (CL=F) crude traded just below $75. US stock and bond markets will be closed on Thursday, June 19, for Juneteenth National Independence Day. The stock market will reopen Friday at 9:30 a.m. ET. Following Juneteenth, the remaining holidays in 2025 observed by the New York Stock Exchange and Nasdaq are: Read more here about the 10 stock market holidays in 2025. US stocks were mixed on Wednesday, with the prospect of the US joining Israel-Iran hostilities keeping investors on edge as the Federal Reserve held interest rates steady while officials diverged over the ultimate path of interest rates this year. The Dow Jones Industrial Average (^DJI) fell 0.1% while the S&P 500 (^GSPC) slipped just below the flat line. Meanwhile, the Nasdaq Composite (^IXIC) rose about 0.1%. All three major averages had been up around 0.6% on the day earlier in the trading session. The central bank held rates steady for the fourth meeting in a row. It also released its latest Summary of Economic Projections (SEP), including its "dot plot," which maps out policymakers' expectations for where interest rates could be headed in the future. The median official's forecast for the federal funds rate at the end of 2025 was 3.9%, unchanged from March. On June 4, The Wall Street Journal reported that a hiring freeze at the Bureau of Labor Statistics would force the federal agency to survey fewer businesses for its reports, such as the Consumer Price Index (CPI). When asked about these cutbacks on Wednesday, Powell said the cutback on survey size will "lead to more volatility in the surveys." To be clear, Powell said, "the data we get right now, we can do our jobs. I'm not concerned that we can't do our jobs." But the Fed chair did spend some time stressing the importance of accurate data. "Having really good data on the state of the economy at any given time is a huge public good," Powell said. "It helps. It doesn't just help the fed, it helps the government. It helps Congress. It helps the executive branch. More importantly, really, it helps businesses. They need to know what's going on in the economy." There was a clear divide in the June 2025 summary of economic projections. Seven officials see the Fed's benchmark interest rate not changing at all this year while eight officials see the central bank lowering the rate by a total of 50 basis points. When asked about the divergence, Fed Chair Jerome Powell said, "If you have a higher inflation forecast, you're going to be less likely to be writing down more cuts." "People can look at the same data and they can evaluate the risks differently, as you know," Powell said. "And that includes the risk of higher inflation, the risk that will be more persistent, the risk that the labor market will weaken. People are going to have different assessments of that risk." But Powell continued, adding that with elevated uncertainty about the economic outlook, "no one holds these rate paths [in the Fed's projections] with a lot of conviction." "As the data come in, you should see those differences diminish," Powell said. Federal Reserve Chair Jerome Powell acknowledged Wednesday that the housing market remains a weak spot in the broader economy — one the Fed is watching closely, but can do little to directly fix. "The housing market is a longer-run problem," Powell said, pointing to a mix of persistent supply shortages and still-elevated mortgage rates. It's both a short-term strain and a longer-term structural issue, he noted, and not something that can be resolved through monetary policy alone. "I think the best thing we can do for the housing market is to restore price stability in a sustainable way and create a strong labor market," Powell added. His comments come just hours after fresh data showed a sharp pullback in home construction. Housing starts and building permits for May both came in below expectations, with just 1.26 million new homes started, the lowest monthly total since the height of the pandemic. During his press conference on Wednesday, Federal Reserve Chair Jerome Powell highlighted a theme playing out in markets over the past two months: The economic outlook looks better than it did in early April, but not necessarily better than it was prior to the tariff whipsaw. "Estimates of where the tariffs will be have actually moved back down, although still at an elevated level," Powell said. As Powell pointed out, the peak estimated effective tariff rate, as estimated by JPMorgan below, has been falling since early April. But the 14.4% estimated effective tariff rate remains well above the 2.5% seen entering this year and above the 10.3% seen before President Trump's "Liberation Day" tariff announcements in April. The Federal Reserve's latest "dot plot" outlining future interest rate moves suggests the central bank will still cut rates twice this year, unchanged from its March outlook, though June's forecasts shows a more divided Fed weighing its next move on interest rates. The Fed announced Wednesday that it held its benchmark interest rate in a range of 4.25%-4.5%, as expected. This marked the fourth straight meeting the Fed kept rates unchanged since cutting rates by 0.25% back in December. Along with its policy announcement, the Fed released updated economic forecasts in its Summary of Economic Projections (SEP), including its "dot plot," which maps out policymakers' expectations for where interest rates could be headed in the future. The central bank raised its projections for inflation and unemployment at the end of this year while lowering its forecast for economic growth. Fed officials see the fed funds rate falling to 3.9% this year, on par with its previous March projection. Coming into the decision, markets had priced in one to two additional rate cuts this year, according to Bloomberg data. The central bank slashed interest rates by a total of 100 basis points in 2024. It is yet to deliver rate cuts so far this year. In 2026, officials see one additional cut; in March, the Fed expected to cut rates twice next year. Twelve officials predict a rate cut this year, with two officials seeing a decrease of more than 0.5%. Most notable in Wednesday's dot plot were forecasts that showed seven FOMC members see no change in rates this year, signaling a more hawkish stance compared to March when four officials saw no change. Two FOMC members expect only one interest rate cut this year. Read more here. The Federal Reserve held interest rates steady in a range of 4.25% to 4.5%. The central bank also released its latest Summary of Economic Projections (SEP), including its "dot plot," which maps out policymakers' expectations for where interest rates could be headed in the future. The median official's forecast for the federal funds rate at the end of 2025 was 3.9%, which would likely represent two 25 basis points cuts this year. As part of the Fed's SEP, officials marked up their projections for core inflation and lowered their forecast for economic growth in 2025. The Fed now also sees the "core" PCE inflation hitting 3.1% in 2025 up from a prior forecast of 2.8%. Less than 30 minutes before the Federal Reserve is set to release its next policy update, the Dow Jones Industrial Average (^DJI) rose 0.1% and S&P 500 (^GSPC) added less than 0.1%. Meanwhile, the Nasdaq Composite (^IXIC) added about 0.2%. All three major averages had been up about 0.6% at one point in the trading day. The 10-year Treasury yield (^TNX) was down about three basis points to hover near 4.36%. As we often note, most of the stock swings on Fed days typically comes after Federal Reserve chair Jerome Powell's press conference starts at 2:30 p.m. ET. But specifically the last hour of trading has been where the market action is as of late. Research from Bespoke Investment Group shows that since all Fed meetings since 1994 the S&P 500 (^GSPC) has dropped an average of six basis points in the final hour of trading. But across the past 10 meetings, those losses have worsened with the S&P 500 falling more than 41 basis points on average. This included eight straight meetings that saw the S&P 500 fall in the final hour trading leading into the March meeting when the S&P 500 rose 10 basis points in the final hour of trading. Yahoo Finance's Claire Boston reports: Mortgage rates drifted slightly lower but remained above 6.8% for another week as the Treasury yields they closely track oscillated. The average 30-year mortgage rate was 6.81% for the week through Tuesday, down from 6.84% a week earlier, according to Freddie Mac data. The average 15-year mortgage rate was essentially unchanged at 5.96%, from 5.97%. This week's data collection period was a day shorter than normal to account for Thursday's Juneteenth holiday. This week's rate is the lowest in four weeks, but mortgage rates haven't been able to break out of a narrow range between 6.8% and 7% since April. This week, the 10-year Treasury yield, which closely tracks mortgage rates, whipsawed and, ultimately, dropped slightly in response to the Israel-Iran conflict and a contraction in retail sales in May as consumers remain jittery about tariffs and their financial positions. Read more here. Yahoo Finance's Jennifer Schonberger reports: The Federal Reserve is widely expected to hold rates steady at the conclusion of its policy meeting Wednesday, but the big question is whether Chairman Jerome Powell and his colleagues will stay committed to two rate cuts in 2025. The answer will come in the form of the "dot plot," a chart updated quarterly that shows each Fed official's prediction about the direction of the central bank's benchmark interest rate. The last dot plot, released in March, revealed a consensus among Fed officials for two cuts this year as some were already factoring the uncertainties of President Trump's economic policies into their projections. They made the same prediction last December. Many Fed watchers expect central bank officials to stick with what they have already signaled as they weigh numerous unknowns, including the ultimate outcome of trade policies and the ripple effects triggered by a new conflict between Israel and Iran. "I think they'll end up keeping two cuts, but will stick with narrative that they need more time to see effects of tariffs on inflation," Wilmington Trust senior bond fund manager Wilmer Stith said. Read more here. Circle (CRCL) stock rose 15% on Wednesday as the US Senate passed a bill to regulate the sector. The stablecoin issuer has now seen its shares soar more than 460% since its IPO in early June. Marvell Technology (MRVL) stock rose roughly 8% on Wednesday as investors digested the company's AI event. "We continue to like MRVL as the rising tide of AI capex can help drive potential upside for one of the few franchises with a singular data-center focus, and with breadth of leading IP across compute, XPU, networking, electro-optics, security, and memory/storage," Bank of America analyst Vivek Arya analyst wrote in a note to clients on Wednesday while boosting his price target to $90 from $80. Housing activity remains in the doldrums. Privately owned housing starts declined 9.8% in May to hit 1.256 million, the lowest level in five years, according to data from the Census Bureau on Thursday. "Housing starts are running below the level of housing completions," Renaissance Macro head of economics Neil Dutta wrote in a note to clients on Wednesday. "This means that units under construction will continue to decline." Citi economist Veronica Clark pointed out in a note to clients that the weak housing starts data could also be a bad sign for future employment in the sector. "As construction declines, we continue to see downside risks to employment in this sector," Clark wrote. US stocks wavered on Wednesday, with the prospect of the US joining Israel-Iran hostilities keeping investors on edge as they braced for the Federal Reserve's interest rate decision later in the day. The Dow Jones Industrial Average (^DJI), S&P 500 (^GSPC), and Nasdaq Composite (^IXIC) were all within less than 0.1% of the flat line at the open. Weekly claims for unemployment benefits remained near their highest level in eight months during the second full week of June, while the number of Americans filing for unemployment insurance on an ongoing basis also remained near the highest level since November 2021. Data from the Department of Labor released Thursday morning showed 245,000 initial jobless claims were filed in the week ending June 14, down from 250,000 seen the week prior and in line with economists' expectations. Meanwhile, 1.945 million continuing claims were filed. This marked a slight move down from 1.951 million the week prior, which had been the highest level since November 2021. Economists see an increase in continuing claims as a sign that those out of work are taking longer to find new jobs. Shares of the largest US stablecoin issuer, Circle (CRCL), popped 3% after the Senate passed new legislation that would establish a framework for dollar-backed cryptocurrencies known as stablecoins. The GENIUS Act still needs to move through the House and President Trump before it's signed into law, but the bill's passage in the Senate was heralded as a win for the crypto industry, which has been pushing for clearer and more positive regulation. 'I feel really good about [this bill],' Dante Disparte, chief strategy officer and head of global policy and operations at Circle, told Yahoo Finance's David Hollerith and Jennifer Schonberger. Circle stock debuted on the public markets on June 5 in an explosive IPO. Since its debut, Circle stock is up more than 380%. Read more here. Toymaker Hasbro (HAS) announced Tuesday it cut 3% of its global workforce, or about 150 employees, as part of a larger cost-cutting effort. The stock fell 3% in premarket trade on Wednesday. The Monopoly maker has been navigating President Trump's tariffs and trade war, especially with China, where it sources about half of its toys and games. The company is working to diversify its supply chain. and reduce its exposure to China. "Ultimately, tariffs translate into higher consumer prices, potential job losses as we adjust to absorb increased costs, and reduced profits for our shareholders," Hasbro's CEO Chris Cocks said during an earnings call in April, per Reuters. Read more here. Here are some top stocks trending on Yahoo Finance in premarket trading: AMD (AMD) stock rose over 1% in premarket trading on Wednesday, following the news it plans to partner with Microsoft to develop custom chips to power the next range of Xbox systems. Tesla (TSLA) stock was up before the bell today. A Bloomberg report on Wednesday said that Elon Musk's artificial intelligence startup xAI was burning through $1B a month as costs of building its AI models increased. Micron (MU) shares rose 1% today in premarket trading, following Wells Fargo analysts maintaining a Buy rating for the tech stock and a price target of $130.00. US stock and bond markets will be closed on Thursday, June 19, for Juneteenth National Independence Day. The stock market will reopen Friday at 9:30 a.m. ET. Following Juneteenth, the remaining holidays in 2025 observed by the New York Stock Exchange and Nasdaq are: Read more here about the 10 stock market holidays in 2025. US stocks were mixed on Wednesday, with the prospect of the US joining Israel-Iran hostilities keeping investors on edge as the Federal Reserve held interest rates steady while officials diverged over the ultimate path of interest rates this year. The Dow Jones Industrial Average (^DJI) fell 0.1% while the S&P 500 (^GSPC) slipped just below the flat line. Meanwhile, the Nasdaq Composite (^IXIC) rose about 0.1%. All three major averages had been up around 0.6% on the day earlier in the trading session. The central bank held rates steady for the fourth meeting in a row. It also released its latest Summary of Economic Projections (SEP), including its "dot plot," which maps out policymakers' expectations for where interest rates could be headed in the future. The median official's forecast for the federal funds rate at the end of 2025 was 3.9%, unchanged from March. On June 4, The Wall Street Journal reported that a hiring freeze at the Bureau of Labor Statistics would force the federal agency to survey fewer businesses for its reports, such as the Consumer Price Index (CPI). When asked about these cutbacks on Wednesday, Powell said the cutback on survey size will "lead to more volatility in the surveys." To be clear, Powell said, "the data we get right now, we can do our jobs. I'm not concerned that we can't do our jobs." But the Fed chair did spend some time stressing the importance of accurate data. "Having really good data on the state of the economy at any given time is a huge public good," Powell said. "It helps. It doesn't just help the fed, it helps the government. It helps Congress. It helps the executive branch. More importantly, really, it helps businesses. They need to know what's going on in the economy." There was a clear divide in the June 2025 summary of economic projections. Seven officials see the Fed's benchmark interest rate not changing at all this year while eight officials see the central bank lowering the rate by a total of 50 basis points. When asked about the divergence, Fed Chair Jerome Powell said, "If you have a higher inflation forecast, you're going to be less likely to be writing down more cuts." "People can look at the same data and they can evaluate the risks differently, as you know," Powell said. "And that includes the risk of higher inflation, the risk that will be more persistent, the risk that the labor market will weaken. People are going to have different assessments of that risk." But Powell continued, adding that with elevated uncertainty about the economic outlook, "no one holds these rate paths [in the Fed's projections] with a lot of conviction." "As the data come in, you should see those differences diminish," Powell said. Federal Reserve Chair Jerome Powell acknowledged Wednesday that the housing market remains a weak spot in the broader economy — one the Fed is watching closely, but can do little to directly fix. "The housing market is a longer-run problem," Powell said, pointing to a mix of persistent supply shortages and still-elevated mortgage rates. It's both a short-term strain and a longer-term structural issue, he noted, and not something that can be resolved through monetary policy alone. "I think the best thing we can do for the housing market is to restore price stability in a sustainable way and create a strong labor market," Powell added. His comments come just hours after fresh data showed a sharp pullback in home construction. Housing starts and building permits for May both came in below expectations, with just 1.26 million new homes started, the lowest monthly total since the height of the pandemic. During his press conference on Wednesday, Federal Reserve Chair Jerome Powell highlighted a theme playing out in markets over the past two months: The economic outlook looks better than it did in early April, but not necessarily better than it was prior to the tariff whipsaw. "Estimates of where the tariffs will be have actually moved back down, although still at an elevated level," Powell said. As Powell pointed out, the peak estimated effective tariff rate, as estimated by JPMorgan below, has been falling since early April. But the 14.4% estimated effective tariff rate remains well above the 2.5% seen entering this year and above the 10.3% seen before President Trump's "Liberation Day" tariff announcements in April. The Federal Reserve's latest "dot plot" outlining future interest rate moves suggests the central bank will still cut rates twice this year, unchanged from its March outlook, though June's forecasts shows a more divided Fed weighing its next move on interest rates. The Fed announced Wednesday that it held its benchmark interest rate in a range of 4.25%-4.5%, as expected. This marked the fourth straight meeting the Fed kept rates unchanged since cutting rates by 0.25% back in December. Along with its policy announcement, the Fed released updated economic forecasts in its Summary of Economic Projections (SEP), including its "dot plot," which maps out policymakers' expectations for where interest rates could be headed in the future. The central bank raised its projections for inflation and unemployment at the end of this year while lowering its forecast for economic growth. Fed officials see the fed funds rate falling to 3.9% this year, on par with its previous March projection. Coming into the decision, markets had priced in one to two additional rate cuts this year, according to Bloomberg data. The central bank slashed interest rates by a total of 100 basis points in 2024. It is yet to deliver rate cuts so far this year. In 2026, officials see one additional cut; in March, the Fed expected to cut rates twice next year. Twelve officials predict a rate cut this year, with two officials seeing a decrease of more than 0.5%. Most notable in Wednesday's dot plot were forecasts that showed seven FOMC members see no change in rates this year, signaling a more hawkish stance compared to March when four officials saw no change. Two FOMC members expect only one interest rate cut this year. Read more here. The Federal Reserve held interest rates steady in a range of 4.25% to 4.5%. The central bank also released its latest Summary of Economic Projections (SEP), including its "dot plot," which maps out policymakers' expectations for where interest rates could be headed in the future. The median official's forecast for the federal funds rate at the end of 2025 was 3.9%, which would likely represent two 25 basis points cuts this year. As part of the Fed's SEP, officials marked up their projections for core inflation and lowered their forecast for economic growth in 2025. The Fed now also sees the "core" PCE inflation hitting 3.1% in 2025 up from a prior forecast of 2.8%. Less than 30 minutes before the Federal Reserve is set to release its next policy update, the Dow Jones Industrial Average (^DJI) rose 0.1% and S&P 500 (^GSPC) added less than 0.1%. Meanwhile, the Nasdaq Composite (^IXIC) added about 0.2%. All three major averages had been up about 0.6% at one point in the trading day. The 10-year Treasury yield (^TNX) was down about three basis points to hover near 4.36%. As we often note, most of the stock swings on Fed days typically comes after Federal Reserve chair Jerome Powell's press conference starts at 2:30 p.m. ET. But specifically the last hour of trading has been where the market action is as of late. Research from Bespoke Investment Group shows that since all Fed meetings since 1994 the S&P 500 (^GSPC) has dropped an average of six basis points in the final hour of trading. But across the past 10 meetings, those losses have worsened with the S&P 500 falling more than 41 basis points on average. This included eight straight meetings that saw the S&P 500 fall in the final hour trading leading into the March meeting when the S&P 500 rose 10 basis points in the final hour of trading. Yahoo Finance's Claire Boston reports: Mortgage rates drifted slightly lower but remained above 6.8% for another week as the Treasury yields they closely track oscillated. The average 30-year mortgage rate was 6.81% for the week through Tuesday, down from 6.84% a week earlier, according to Freddie Mac data. The average 15-year mortgage rate was essentially unchanged at 5.96%, from 5.97%. This week's data collection period was a day shorter than normal to account for Thursday's Juneteenth holiday. This week's rate is the lowest in four weeks, but mortgage rates haven't been able to break out of a narrow range between 6.8% and 7% since April. This week, the 10-year Treasury yield, which closely tracks mortgage rates, whipsawed and, ultimately, dropped slightly in response to the Israel-Iran conflict and a contraction in retail sales in May as consumers remain jittery about tariffs and their financial positions. Read more here. Yahoo Finance's Jennifer Schonberger reports: The Federal Reserve is widely expected to hold rates steady at the conclusion of its policy meeting Wednesday, but the big question is whether Chairman Jerome Powell and his colleagues will stay committed to two rate cuts in 2025. The answer will come in the form of the "dot plot," a chart updated quarterly that shows each Fed official's prediction about the direction of the central bank's benchmark interest rate. The last dot plot, released in March, revealed a consensus among Fed officials for two cuts this year as some were already factoring the uncertainties of President Trump's economic policies into their projections. They made the same prediction last December. Many Fed watchers expect central bank officials to stick with what they have already signaled as they weigh numerous unknowns, including the ultimate outcome of trade policies and the ripple effects triggered by a new conflict between Israel and Iran. "I think they'll end up keeping two cuts, but will stick with narrative that they need more time to see effects of tariffs on inflation," Wilmington Trust senior bond fund manager Wilmer Stith said. Read more here. Circle (CRCL) stock rose 15% on Wednesday as the US Senate passed a bill to regulate the sector. The stablecoin issuer has now seen its shares soar more than 460% since its IPO in early June. Marvell Technology (MRVL) stock rose roughly 8% on Wednesday as investors digested the company's AI event. "We continue to like MRVL as the rising tide of AI capex can help drive potential upside for one of the few franchises with a singular data-center focus, and with breadth of leading IP across compute, XPU, networking, electro-optics, security, and memory/storage," Bank of America analyst Vivek Arya analyst wrote in a note to clients on Wednesday while boosting his price target to $90 from $80. Housing activity remains in the doldrums. Privately owned housing starts declined 9.8% in May to hit 1.256 million, the lowest level in five years, according to data from the Census Bureau on Thursday. "Housing starts are running below the level of housing completions," Renaissance Macro head of economics Neil Dutta wrote in a note to clients on Wednesday. "This means that units under construction will continue to decline." Citi economist Veronica Clark pointed out in a note to clients that the weak housing starts data could also be a bad sign for future employment in the sector. "As construction declines, we continue to see downside risks to employment in this sector," Clark wrote. US stocks wavered on Wednesday, with the prospect of the US joining Israel-Iran hostilities keeping investors on edge as they braced for the Federal Reserve's interest rate decision later in the day. The Dow Jones Industrial Average (^DJI), S&P 500 (^GSPC), and Nasdaq Composite (^IXIC) were all within less than 0.1% of the flat line at the open. Weekly claims for unemployment benefits remained near their highest level in eight months during the second full week of June, while the number of Americans filing for unemployment insurance on an ongoing basis also remained near the highest level since November 2021. Data from the Department of Labor released Thursday morning showed 245,000 initial jobless claims were filed in the week ending June 14, down from 250,000 seen the week prior and in line with economists' expectations. Meanwhile, 1.945 million continuing claims were filed. This marked a slight move down from 1.951 million the week prior, which had been the highest level since November 2021. Economists see an increase in continuing claims as a sign that those out of work are taking longer to find new jobs. Shares of the largest US stablecoin issuer, Circle (CRCL), popped 3% after the Senate passed new legislation that would establish a framework for dollar-backed cryptocurrencies known as stablecoins. The GENIUS Act still needs to move through the House and President Trump before it's signed into law, but the bill's passage in the Senate was heralded as a win for the crypto industry, which has been pushing for clearer and more positive regulation. 'I feel really good about [this bill],' Dante Disparte, chief strategy officer and head of global policy and operations at Circle, told Yahoo Finance's David Hollerith and Jennifer Schonberger. Circle stock debuted on the public markets on June 5 in an explosive IPO. Since its debut, Circle stock is up more than 380%. Read more here. Toymaker Hasbro (HAS) announced Tuesday it cut 3% of its global workforce, or about 150 employees, as part of a larger cost-cutting effort. The stock fell 3% in premarket trade on Wednesday. The Monopoly maker has been navigating President Trump's tariffs and trade war, especially with China, where it sources about half of its toys and games. The company is working to diversify its supply chain. and reduce its exposure to China. "Ultimately, tariffs translate into higher consumer prices, potential job losses as we adjust to absorb increased costs, and reduced profits for our shareholders," Hasbro's CEO Chris Cocks said during an earnings call in April, per Reuters. Read more here. Here are some top stocks trending on Yahoo Finance in premarket trading: AMD (AMD) stock rose over 1% in premarket trading on Wednesday, following the news it plans to partner with Microsoft to develop custom chips to power the next range of Xbox systems. Tesla (TSLA) stock was up before the bell today. A Bloomberg report on Wednesday said that Elon Musk's artificial intelligence startup xAI was burning through $1B a month as costs of building its AI models increased. Micron (MU) shares rose 1% today in premarket trading, following Wells Fargo analysts maintaining a Buy rating for the tech stock and a price target of $130.00. 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Stock market today: Dow, S&P 500, Nasdaq rise as Fed takes front seat from Mideast fears
US stocks popped on Wednesday, with the prospect of the US joining Israel-Iran hostilities keeping investors on edge as they braced for the Federal Reserve's interest rate decision later in the day. The Dow Jones Industrial Average (^DJI), S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) all rose about 0.6% in early trading. Markets are on alert for any sign that the US has joined the Middle East conflict, which has swung stocks around since it broke out last week. President Trump said, "Our patience is wearing thin," and met with his national security team on Tuesday, raising speculation that the US could join Israel's offensive. Iran has warned it will respond firmly if the US crosses a red line into involvement and has reportedly readied missiles for strikes on US bases in the region if it does. Oil prices moved over 1% higher, reversing course after the morning's decline. Brent futures (BZ=F), the international benchmark, rose to above $77 a barrel while West Texas Intermediate (CL=F) crude traded just above $76. Read more: The latest on Trump's tariffs Against that background, attention is turning to the Fed's policy decision due at 2 p.m. ET, when the central bank is expected to hold interest rates steady. The focus is on the "dot plot" to shed light on whether two rate cuts are still on the table this year. Investors will watch Chair Jerome Powell's press conference for insight into pressures on the economy amid Trump's tariffs and trade push. Meanwhile, weekly jobless claims remained near their highest level in eight months. Housing activity remains in the doldrums. Privately-owned housing starts declined 9.8% in May to hit 1.256 million, the lowest level in five years, according to data from the Census Bureau on Thursday. "Housing starts are running below the level of housing completions," Renaissance Macro head of economics Neil Dutta wrote in a note to clients on Wednesday. "This means that units under construction will continue to decline." Citi economist Veronica Clark pointed out in a note to clients that the weak housing starts data could be a bad sign for future employment related to the sector as well. "As construction declines, we continue to see downside risks to employment in this sector," Clark wrote. US stocks wavered on Wednesday, with the prospect of the US joining Israel-Iran hostilities keeping investors on edge as they braced for the Federal Reserve's interest rate decision later in the day. The Dow Jones Industrial Average (^DJI), S&P 500 (^GSPC), and Nasdaq Composite (^IXIC) were all within less than 0.1% of the flat line at the open. Weekly claims for unemployment benefits remained near their highest level in eight months during the second full week of June, while the number of Americans filing for unemployment insurance on an ongoing basis also remained near the highest level since November 2021. Data from the Department of Labor released Thursday morning showed 245,000 initial jobless claims were filed in the week ending June 14, down from 250,000 seen the week prior and in line with economists' expectations. Meanwhile, 1.945 million continuing claims were filed. This marked a slight move down from 1.951 million the week prior, which had been the highest level since November 2021. Economists see an increase in continuing claims as a sign that those out of work are taking longer to find new jobs. Shares of the largest US stablecoin issuer, Circle (CRCL), popped 3% after the Senate passed new legislation that would establish a framework for dollar-backed cryptocurrencies known as stablecoins. The GENIUS Act still needs to move through the House and President Trump before it's signed into law, but the bill's passage in the Senate was heralded as a win for the crypto industry, which has been pushing for clearer and more positive regulation. 'I feel really good about [this bill],' Dante Disparte, chief strategy officer and head of global policy and operations at Circle, told Yahoo Finance's David Hollerith and Jennifer Schonberger. Circle stock debuted on the public markets on June 5 in an explosive IPO. Since its debut, Circle stock is up more than 380%. Read more here. Toymaker Hasbro (HAS) announced Tuesday it cut 3% of its global workforce, or about 150 employees, as part of a larger cost-cutting effort. The stock fell 3% in premarket trade on Wednesday. The Monopoly maker has been navigating President Trump's tariffs and trade war, especially with China, where it sources about half of its toys and games. The company is working to diversify its supply chain. and reduce its exposure to China. "Ultimately, tariffs translate into higher consumer prices, potential job losses as we adjust to absorb increased costs, and reduced profits for our shareholders," Hasbro's CEO Chris Cocks said during an earnings call in April, per Reuters. Read more here. Here are some top stocks trending on Yahoo Finance in premarket trading: AMD (AMD) stock rose over 1% in premarket trading on Wednesday, following the news it plans to partner with Microsoft to develop custom chips to power the next range of Xbox systems. Tesla (TSLA) stock was up before the bell today. A Bloomberg report on Wednesday said that Elon Musk's artificial intelligence startup xAI was burning through $1B a month as costs of building its AI models increased. Micron (MU) shares rose 1% today in premarket trading, following Wells Fargo analysts maintaining a Buy rating for the tech stock and a price target of $130.00. The S&P 500 (^GSPC) is back trading near record highs, but there's still skepticism on Wall Street, Yahoo Finance's Allie Canal reports: Read more here. Economic data: Building permits (May preliminary); Housing starts (May); FOMC rate decision; FOMC median rate forecast for end of 2025; Initial jobless claims (week ending June 14); Continuing claims (week ending June 7) Earnings: Aurora (ACB), Smith & Wesson (SWBI) Here are some of the biggest stories you may have missed overnight and early this morning: Stocks are back near record highs — but Wall Street isn't buying it Investors brace for Fed signal on 2025 rate cuts Musk's xAI burns through $1 billion a month as costs pile up US added over 1,000 new millionaires a day last year: UBS Trump flexes security powers to keep global tariff goal alive Nintendo extends gains to record as Switch 2 sales boom Shares of Nintendo (NTDOY, 7974.T) continued to climb, with President Trump's trade policy shift providing an added tailwind to the success of its Switch 2 games console update. The stock jumped in Tokyo, while the US-listed stock popped before the bell on Wednesday. Bloomberg reports: Read more here. Oil is holding gains after spiking to a five-month high on Tuesday. Concerns over the US joining the ongoing conflict between Israel and Iran continue to bolster the value of the commodity. Bloomberg reports: Brent (BZ=F) traded above $76 a barrel after closing 4.4% higher in the previous session, while West Texas Intermediate (CL=F) was near $75. President Donald Trump met with his national security team on Tuesday, after demanding Iran's 'UNCONDITIONAL SURRENDER' and warning of a possible strike against the country's leader — Ayatollah Ali Khamenei — in a social media post. Iran's crude-exporting infrastructure has been spared so far, and most of the fallout has been confined to shipping. The Middle East produces around a third of the world's oil and a wider conflict could drive prices even higher. The biggest concern for the oil market centers on the Strait of Hormuz, although there are no signs that Iran is seeking to disrupt shipping through the narrow waterway. About a fifth of the world's daily crude output passes through the strait at the entrance to the Persian Gulf. Read more here. Housing activity remains in the doldrums. Privately-owned housing starts declined 9.8% in May to hit 1.256 million, the lowest level in five years, according to data from the Census Bureau on Thursday. "Housing starts are running below the level of housing completions," Renaissance Macro head of economics Neil Dutta wrote in a note to clients on Wednesday. "This means that units under construction will continue to decline." Citi economist Veronica Clark pointed out in a note to clients that the weak housing starts data could be a bad sign for future employment related to the sector as well. "As construction declines, we continue to see downside risks to employment in this sector," Clark wrote. US stocks wavered on Wednesday, with the prospect of the US joining Israel-Iran hostilities keeping investors on edge as they braced for the Federal Reserve's interest rate decision later in the day. The Dow Jones Industrial Average (^DJI), S&P 500 (^GSPC), and Nasdaq Composite (^IXIC) were all within less than 0.1% of the flat line at the open. Weekly claims for unemployment benefits remained near their highest level in eight months during the second full week of June, while the number of Americans filing for unemployment insurance on an ongoing basis also remained near the highest level since November 2021. Data from the Department of Labor released Thursday morning showed 245,000 initial jobless claims were filed in the week ending June 14, down from 250,000 seen the week prior and in line with economists' expectations. Meanwhile, 1.945 million continuing claims were filed. This marked a slight move down from 1.951 million the week prior, which had been the highest level since November 2021. Economists see an increase in continuing claims as a sign that those out of work are taking longer to find new jobs. Shares of the largest US stablecoin issuer, Circle (CRCL), popped 3% after the Senate passed new legislation that would establish a framework for dollar-backed cryptocurrencies known as stablecoins. The GENIUS Act still needs to move through the House and President Trump before it's signed into law, but the bill's passage in the Senate was heralded as a win for the crypto industry, which has been pushing for clearer and more positive regulation. 'I feel really good about [this bill],' Dante Disparte, chief strategy officer and head of global policy and operations at Circle, told Yahoo Finance's David Hollerith and Jennifer Schonberger. Circle stock debuted on the public markets on June 5 in an explosive IPO. Since its debut, Circle stock is up more than 380%. Read more here. Toymaker Hasbro (HAS) announced Tuesday it cut 3% of its global workforce, or about 150 employees, as part of a larger cost-cutting effort. The stock fell 3% in premarket trade on Wednesday. The Monopoly maker has been navigating President Trump's tariffs and trade war, especially with China, where it sources about half of its toys and games. The company is working to diversify its supply chain. and reduce its exposure to China. "Ultimately, tariffs translate into higher consumer prices, potential job losses as we adjust to absorb increased costs, and reduced profits for our shareholders," Hasbro's CEO Chris Cocks said during an earnings call in April, per Reuters. Read more here. Here are some top stocks trending on Yahoo Finance in premarket trading: AMD (AMD) stock rose over 1% in premarket trading on Wednesday, following the news it plans to partner with Microsoft to develop custom chips to power the next range of Xbox systems. Tesla (TSLA) stock was up before the bell today. A Bloomberg report on Wednesday said that Elon Musk's artificial intelligence startup xAI was burning through $1B a month as costs of building its AI models increased. Micron (MU) shares rose 1% today in premarket trading, following Wells Fargo analysts maintaining a Buy rating for the tech stock and a price target of $130.00. The S&P 500 (^GSPC) is back trading near record highs, but there's still skepticism on Wall Street, Yahoo Finance's Allie Canal reports: Read more here. Economic data: Building permits (May preliminary); Housing starts (May); FOMC rate decision; FOMC median rate forecast for end of 2025; Initial jobless claims (week ending June 14); Continuing claims (week ending June 7) Earnings: Aurora (ACB), Smith & Wesson (SWBI) Here are some of the biggest stories you may have missed overnight and early this morning: Stocks are back near record highs — but Wall Street isn't buying it Investors brace for Fed signal on 2025 rate cuts Musk's xAI burns through $1 billion a month as costs pile up US added over 1,000 new millionaires a day last year: UBS Trump flexes security powers to keep global tariff goal alive Nintendo extends gains to record as Switch 2 sales boom Shares of Nintendo (NTDOY, 7974.T) continued to climb, with President Trump's trade policy shift providing an added tailwind to the success of its Switch 2 games console update. The stock jumped in Tokyo, while the US-listed stock popped before the bell on Wednesday. Bloomberg reports: Read more here. Oil is holding gains after spiking to a five-month high on Tuesday. Concerns over the US joining the ongoing conflict between Israel and Iran continue to bolster the value of the commodity. Bloomberg reports: Brent (BZ=F) traded above $76 a barrel after closing 4.4% higher in the previous session, while West Texas Intermediate (CL=F) was near $75. President Donald Trump met with his national security team on Tuesday, after demanding Iran's 'UNCONDITIONAL SURRENDER' and warning of a possible strike against the country's leader — Ayatollah Ali Khamenei — in a social media post. Iran's crude-exporting infrastructure has been spared so far, and most of the fallout has been confined to shipping. The Middle East produces around a third of the world's oil and a wider conflict could drive prices even higher. The biggest concern for the oil market centers on the Strait of Hormuz, although there are no signs that Iran is seeking to disrupt shipping through the narrow waterway. About a fifth of the world's daily crude output passes through the strait at the entrance to the Persian Gulf. Read more here.
