What’s News in Markets: AI Whiplash, SpaceX’s Historic IPO, Knicks Fever

Warsh Faces First Big Test at Fed

A.M. Edition for June 17. The Federal Reserve has trained markets to hang on its every word, but new chairman Kevin Warsh would rather it say less and let the economic data do the talking. WSJ chief economics correspondent Nick Timiraos tells us what to expect. Plus, the Trump administration expands its antifraud campaign to state unemployment programs. And we’ll take a bite of the only Gentleman’s Relish we could get our hands on. Luke Vargas hosts. Sign up for the WSJ’s free What’s News newsletter. Check out the latest What’s News Sunday episode on how health insurance could be a deciding issue in Georgia’s midterms in November. Learn more about your ad choices. Visit megaphone.fm/adchoices

SpaceX Makes a $60 Billion Bet on Its AI Future

P.M. Edition for June 16. SpaceX said today that it would acquire the parent company of the AI coding tool Cursor for $60 billion. WSJ reporter Becky Peterson explains how the deal is intended to help SpaceX catch up with its AI rivals. Plus, the agreement to end the war will allow Iran to immediately begin selling oil. We hear from Journal national security reporter Alex Ward about the strategy behind this–and how it’s going over with President Trump’s supporters. And WSJ Heard on the Street writer Asa Fitch discusses how Qualcomm has been diversifying its business to cash in on the AI boom. Alex Ossola hosts. Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Why the Iran Peace Deal Won’t End Rate Hikes

A.M. Edition for June 16. President Trump’s Iran deal may be providing relief for markets, but central bankers are not convinced the inflation spike is over yet, with the BOJ and RBA warning of higher prices for longer. Plus, WSJ tech reporter Georgia Wells details how AI is supercharging deepfake nudes, with more than half of teens having created a nude image, unleashing a new form of bullying amongst kids. And, Iran’s World Cup team was ordered to leave the U.S. after their opening match against New Zealand. Luke Vargas hosts. Sign up for the WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

DOJ Career Staffers Were Surprised by Decision to Allow Paramount-Warner Deal

P.M. Edition for June 15. We’re exclusively reporting that Justice Department staffers investigating the merger between Paramount and Warner Bros. Discovery didn’t have an opportunity to object before the DOJ allowed the deal. Plus,news of the preliminary peace agreement between the U.S. and Iran sent stock markets soaring and oil prices sliding–though as WSJ energy markets reporter Rebecca Feng discusses, fully reopening the Strait of Hormuz may take a while. And two new blood tests can help diagnose Alzheimer’s disease. Journal health and wellness reporter Alex Janin says not everyone should take them, despite consumers’ growing interest in their own health. Alex Ossola hosts. Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

U.S. and Iran Reach Peace Deal. But Israel Won’t Withdraw From Lebanon

A.M. Edition for June 15. The U.S. and Iran say they’ve reached an interim deal to open the Strait of Hormuz and extend a ceasefire. WSJ Middle East correspondent Benoit Faucon says more needs to be ironed out as Israel’s defence minister said they will not withdraw from land it has seized in Lebanon. Plus, Anthropic sends top staff to Washington in a bid to end export restrictions. And, the U.K. announces plans for an under-16 social media ban. Luke Vargas hosts. Sign up for the WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices