What’s News in Markets: AI Reality Check, Oil’s Tipping Point, Crypto Winter

Stocks Soar After Trump Cancels Threatened Strikes on Iran

P.M. Edition for June 11. After threatening more strikes against Iran this morning and then calling them off, President Trump said this afternoon that there’s an agreement to end the war–although final details still need to be completed. Plus, Trump says he plans to nominate Jay Clayton, a top federal Manhattan prosecutor and former SEC chairman, as intelligence director. WSJ national security reporter Yoko Kubota discusses why this move might help defuse a fight with Congress over a crucial spying tool. And SpaceX officially sold $75 billion worth of shares, making it the biggest IPO ever. Asset managers like BlackRock helped: The Journal learned that it put in an order to buy at least $5 billion worth of SpaceX shares. 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 OpenAI Might Slash Prices for Users

A.M. Edition for June 11. OpenAI is considering sweeping price cuts as it braces for an intensifying battle for users with chief rival Anthropic. The potential price drop comes as corporate clients begin to pull back on high AI spending and express difficulty tying costs to real investment returns. Plus, social media bans for kids gain momentum as Canada weighs a law that would likely apply to American tech companies like Meta and Snapchat. And the CEO of Bloom Energy K.R. Sridar tells us how the company is navigating growing opposition to new data centers. Luke Vargas hosts. Sign up for the WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Elon Musk Is Betting Big on Retail Investors With SpaceX’s IPO

P.M. Edition for June 10. Everyday investors have coalesced into a market-moving force in recent years. WSJ markets reporter Hannah Erin Lang how Elon Musk is tapping that force for the SpaceX IPO. Plus, we exclusively report that the U.S. Attorney’s Office in Washington, D.C. has subpoenaed some of the country’s biggest banks as part of a probe into “debanking.” And consumer prices rose 4.2% last month, hitting a three-year high and causing stocks to dive. We hear from Journal economics reporter Harriet Torry about what the war in Iran has to do with it. Alex Ossola hosts. The WSJ Guide to Choosing a World Cup Team (and Your Backup)  Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Can Regulators Get a Grip on Prediction Markets?

A.M. Edition for June 10. The Commodity Futures Trading Commission is set to propose new rules for booming prediction markets in an effort to crack down on manipulation and bets regulators determine aren’t in the public interest. WSJ reporter Alexander Osipovich discusses where the CFTC is likely to draw the line – allowing most sports betting while targeting wagers on war, terrorism and assassinations. Plus, Democrat Graham Platner coasts to victory in Maine, teeing up a crucial Senate contest against Susan Collins in November. And GM follows Ford with a pivot into energy storage. Luke Vargas hosts. Sign up for the WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Why the Social Security Shortfall Is Coming Sooner

P.M. Edition for June 9. The fund that helps pay out Social Security benefits is now projected to run out by late 2032, earlier than was previously expected. WSJ reporter Anne Tergesen walks us through why… and what it could mean for retirees. Plus, today Anthropic rolled out a new AI model, Claude Fable 5, that gives the public access to Mythos–a model the company previously said was too dangerous for general release. Bob McMillan, who covers computer security for the Journal, explains how Anthropic aims to prevent bad actors from using the new model for hacking and bioweapons. And President Trump accused Iran of downing an Apache helicopter near the Strait of Hormuz last night, saying the U.S. must respond and threatening the fragile ceasefire. Alex Ossola hosts. Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices