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

Iran and the U.S. Make a Deal. What Now?

A.M. Edition for June 18. WSJ national security reporter Alex Ward has the latest on the deal, what it means for the opening of the Strait of Hormuz, Iran’s nuclear program and Israel’s reaction. Plus, WSJ energy reporter Rebecca Feng says that oil prices have dropped on the news that the U.S. deal will lift sanctions on Iranian oil exports. And Intel’s stock soars to an all-time high pre-market after President Trump says Apple will work with Intel to design and build chips in the U.S. Luke Vargas hosts. Sign up for the WSJ’s free What’s News newsletter. Further Reading: We Did the Math on Why the iPhone 18 Pro Could Cost $1,299 Learn more about your ad choices. Visit megaphone.fm/adchoices

A Hawkish Fed Signals Higher Interest Rates Ahead

P.M. Edition for June 17. In Kevin Warsh’s first meeting as Fed chairman, officials unanimously held rates steady, though their projections showed that a rate hike is now more likely than a cut. WSJ economics reporter Matt Grossman discusses what we can glean about how the central bank is changing under Warsh’s leadership. Plus, in an exclusive interview with the Wall Street Journal, Apple CEO Tim Cook says that price increases for Apple products are “unavoidable.” We hear from reporter Rolfe Winkler about how much the next iPhone might cost. And what’s in the deal to end the war between the U.S. and Iran? Journal reporter Laurence Norman walks us through it. Alex Ossola hosts. Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

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