The Cleveland Federal Reserve President on Wednesday predicted that interest rates may stay where they’re at for a “good while” as economists debate the best response to the impact of tariffs and the war in Iran.
“My baseline is that we’re going to remain on hold for a good while,
» Read more about: Cleveland Federal Reserve President: Interest rates on hold ‘for a good while’ »
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On March 27, the Dow Jones Industrial Average (DJINDICES: ^DJI) closed the week down 6% on the year and about 10% below its all-time high. The war in Iran, soaring oil prices, and inflation fears took their toll on sentiment, and investors began weighing the possibility that conditions could worsen considerably.
Repairs to energy-linked infrastructure in the Middle East could cost up to $58 billion, with $50 billion in oil and gas-related repairs alone, the energy consultancy Rystad Energy said Wednesday morning.
In the seven weeks thus far of the so-called third Gulf war, air strikes and drones have damaged refineries,
U.S. stock markets closed higher on Tuesday buoyed by market participants’ expectations of a possible solution to the Middle East geopolitical conflicts. Moreover, the first-quarter 2026 earnings season started on a positive note. All three major stock indexes ended in positive territory.
The Dow Jones Industrial Average (DJI) rose 0.7% or 317.74 points to close at 48,535.99.
Inflation surged in March to its highest level in nearly a year, driven largely by rising energy prices amid the conflict with Iran. While the increase was anticipated, it creates a significant dilemma for the Federal Reserve as it considers its next steps on monetary policy after pausing rate cuts earlier this year.
» Read more about: 3 Large-Cap Value Funds to Grab as Inflation Continues to Surge »
Tesla (TSLA +6.91%) stock jumped 7.6% through 12:35 p.m. ET Wednesday, one week before the electric car leader announces Q1 earnings results, and just minutes after two Wall Street analysts published cautious comments about what to expect from those results.
Image source: Tesla.
Ever since the Iran war started on Feb. 28, the news has been full of alarming headlines, dire predictions, and tragic stories of human suffering. The price of oil had spiked to over $110 a barrel, the Federal Reserve has paused interest rate cuts due to worries about higher inflation, and the world is facing uncertainty about when (or if) the Strait of Hormuz will be open to economically vital shipments of oil and gas anytime soon.
NEW YORK (AP) — U.S. stocks are flirting with a record Wednesday following their big rally the last two weeks on hopes that the global economy can avoid a worst-case scenario because of the U.S.-Iran war.
The S&P 500 rose 0.4% and was on track to eclipse its all-time high set in January.
» Read more about: Wall Street flirts with a record after adding to its weekslong rally »
The competition between OpenAI (OPAI.PVT) and Anthropic (ANTH.PVT) doesn’t appear to be cooling off.
In a memo to staff published by The Verge, OpenAI’s chief revenue officer Denise Dresser outlined a number of priorities for the company’s sales org this quarter,