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Central bank holds rates even as investors worry Iran war will ignite jolt of price growth
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US-Iran conflict enters new phase as Saudi Arabia helps hit proxies and diplomacy stalls again AP NewsSaudi Arabia's Strikes in Iraq Mark Entry Into U.S.-Iran War. The New York TimesSaudi defense minister holds urgent meeting with Trump after Iraq strikes AxiosIran resumes missile attacks as U.S. and Saudis strike Tehran-backed militias in Iraq NPRSaudi Arabia is getting dragged into a war it has tried desperately to avoid CNN
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A divided Fed holds interest rates steady despite stubborn inflation The Washington PostAnalysis: Fed Chairman Warsh's credibility in question after leaving interest rates unchanged CNBCTranscript: Fed holds rates as inflation fears grow Financial Times
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Wall Street closes down sharply after Fed holds rates unchanged ReutersDow drops 1,100 points for worst day since April 2025 on fear the Fed is falling behind on inflation: Live updates CNBCU.S. Stocks Slide After Fed Pause, Escalation in Iran War WSJStock market today: Dow plunges by 1,100 points, S&P 500 and Nasdaq sink as yields rise on Fed's hawkish hold Yahoo Finance
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Microsoft Profit Jumps 31% as Azure Cloud Sales Surpass $100 Billion wsj.comMicrosoft jumps 8% as it boosts capital spending plans, citing demand CNBCMicrosoft Increases Spending on A.I. as Profit Jumps 31% nytimes.comMicrosoft's Cloud Accelerates to Fastest Growth Since 2022 Bloomberg.comM
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Warsh-led Fed leaves rates on hold and a bond market scratching its head ReutersFed holds interest rates steady, but 3 officials dissent in favor of a hike Yahoo FinanceHere's what changed in the second Fed statement under Warsh CNBC
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Prospects who could be dealt by the Trade Deadline -- one for each team MLB.comMLB trade deadline 2026: Teams desperate to make a move espn.comTrade rumors: Miller, Skubal, Marlins, O's, Twins, Rays, Peralta MLB.comMLB Trade Deadline Predictions For Skubal And Other Top Targets FOX Sports
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Fed officials held interest rates steady, but they have splintered over how to fight inflation.
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Think bond funds are safer than stocks right now? Stocks actually look like the smarter bet.
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The economic banishment of all things Russian. Tariffs on Chinese imports. Pandemic-caused shortages of computer chips, bicycles, garage door parts and other imports. Brexit.
Just about everywhere you turn, you can see that the tectonic plates of the global economy have stopped converging and are starting to pull apart in ways that will determine new winners and losers, says Ethan Harris, head of global economics for Bank of America Securities. "Deglobalization is a gradual process, and in the long run, very important" to investors, he says, because it will have profound impacts on corporate profitability.
SEE MORE 16 Dividend Kings for Decades of Dividend Growth
Globalization refers to the increase of commerce across borders. U.S. companies prospered for decades as new markets opened for their goods and labor costs plummeted thanks to overseas production. Strategists at BofA have estimated that over the past 20 years, globalization has contributed more than half of what has been a robust expansion in profit margins. Globalization has also helped to deliver low-cost goods to American consumers.
But now, says market strategist Ed Yardeni, the pandemic and spreading political and military conflicts have stretched supply chains past the breaking point, prompting companies to bring many operations closer to home. "Deglobalization was almost inevitable," Yardeni says. U.S. companies are starting to "reshore" production back to the U.S., "near-shore" it to neighbors such as Mexico, or "friend-shore" it to allies such as Vietnam.
Investment firm Piper Sandler counted more than 900 announcements of companies either building or expanding manufacturing facilities in the U.S. in the 12 months ending in May of 2022. In 2012, there were only about 100 such announcements. Over the long term, companies
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