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In retaliation to US strikes, the Islamic Republic of Iran announced that the Strait of Hormuz is fully closed as of early Thursday morning in Tehran. The attacks from the US were separate from a series of retaliatory drone and missile launches overnight Tuesday into Wednesday.
President Donald Trump told Fox News in a phone interview on Wednesday night that "the bombing will stop soon," but if Iran doesn't sign the agreement put forward by special envoys Steve Witkoff and Jared Kushner, "We'll bomb the shit out of them tomorrow night."
When asked whether the ceasefire still stands, Trump described it as "the most violated ceasefire in the history of the world," according to Fox News.
According to Al Jazeerah, Iran’s Mehr news agency reported that Iran's joint military command specified that any oil tankers or other commercial vessels will be attacked if they attempt to cross the strait.
This is the second day in a row hostilities have resumed to a level not seen since the early April ceasefire was announced.
US CENTCOM announced the series of strikes beginning at 5:15 P.M. ET on Wednesday, which Secretary of Defense Pete Hegseth previewed in on-camera remarks, promising to “strike ‘em hard tonight” before later claiming he would not broadcast whether the military would take any action.
Shortly after the announcement on the closure of the Strait of Hormuz to all commercial vessel traffic, Iranian state media reported two ships attempting to cross were attacked.
This story is developing.
When asked whether the ceasefire still stands, Trump described it as "the most violated ceasefire in the history of the world," according to Fox News.
According to Al Jazeerah, Iran’s Mehr news agency reported that Iran's joint military command specified that any oil tankers or other commercial vessels will be attacked if they attempt to cross the strait.
This is the second day in a row hostilities have resumed to a level not seen since the early April ceasefire was announced.
US CENTCOM announced the series of strikes beginning at 5:15 P.M. ET on Wednesday, which Secretary of Defense Pete Hegseth previewed in on-camera remarks, promising to “strike ‘em hard tonight” before later claiming he would not broadcast whether the military would take any action.
Shortly after the announcement on the closure of the Strait of Hormuz to all commercial vessel traffic, Iranian state media reported two ships attempting to cross were attacked.
This story is developing.
The company posted Q4 FY 2026 earnings Wednesday after the bell.
Belgium just became the fifth European country to approve a version of Tesla’s Full Self-Driving technology, according to a post from a transport minister there — something CEO Elon Musk said was necessary to turn around sales in the company’s “weakest market.” The country follows on the heels of Denmark, Estonia, Lithuania, and the Netherlands.
Tesla sales in Europe notably have been stabilizing without wide approval of FSD, which the company has said would be approved across the EU in the second or third quarter.
The version of FSD available in Europe, the company’s third-largest market, comes with stricter safety requirements and closer driver monitoring than in the US, where the tech has so far failed to drive notable sales growth.
Lucid is continuing to sink to all-time lows, hitting a fresh bottom on Wednesday afternoon. The luxury EV maker is on track to close below the $5-per-share mark for the first time and is down about 54% so far this year.
All-time lows are nothing new for Lucid, which is down more than 99% from its early 2021 peak.
Dragging the stock lower Wednesday appears to be the voluntary departure of long-tenured executive Emad Dlala, Lucid’s senior vice president of engineering and software. Per analysis by industry blog EV, Dlala’s exit is the 14th by a top exec since late 2023.
In April, Lucid named Silvio Napoli, a former elevator/escalator company CEO, as its chief executive. Last month, Lucid reported a deeper-than-expected Q1 loss.
Dragging the stock lower Wednesday appears to be the voluntary departure of long-tenured executive Emad Dlala, Lucid’s senior vice president of engineering and software. Per analysis by industry blog EV, Dlala’s exit is the 14th by a top exec since late 2023.
In April, Lucid named Silvio Napoli, a former elevator/escalator company CEO, as its chief executive. Last month, Lucid reported a deeper-than-expected Q1 loss.
If you’ve got money locked up on-chain and an itch to gamble with it in a new way, has the World Series of Poker got good news for you. The WSOP announced it will integrate solana’s blockchain technology into the tournament through crypto payments firm MoonPay.
At its big summer event, players will have the option to buy into tournaments using crypto directly for the first time. In the WSOP’s Bahamas event in December, winners will be able to receive settlements in stablecoins on solana, reducing friction with international settlements.
The play is never the move. It's the mind behind it.
— Solana (@solana) June 10, 2026
The World Series of Poker. Now dealt by Solana. pic.twitter.com/EUPJikTWb4
“Solana’s ecosystem, like the WSOP, constantly challenges conventions and remains laser-focused on the consumer experience,” WSOP CEO Ty Stewart said in a statement. “Solana’s speed and efficiency mirror the fast-paced energy of our tournaments, and we are excited to showcase their technology to our global audience.”
The price of solana dipped slightly today, but has dropped more than 48% in 2026, data from CoinMarketCap shows.
Solana has been a popular network, in part from meme coin trading over the past two years, involving viral animal sensations as well as political figures such as President Donald Trump and first lady Melania Trump as well as Argentine President Javier Milei.
Country-themed restaurant chain Cracker Barrel is soaring on Wednesday, on pace for its best trading day ever following an earnings beat on Tuesday afternoon.
The chain, known for its rocking chairs, little peg games, and various memorabilia featuring the American flag/Route 66/wagon wheels, reported Q3 sales of $797.4 million, beating Wall Street expectations of $776.7 million. It posted adjusted earnings of $0.29 per share, compared to the $0.48 per-share loss expected by analysts polled by FactSet.
Cracker Barrel also hiked its fiscal year revenue forecast to between $3.27 billion and $3.3 billion, up from $3.24 billion to $3.27 billion.
Those results have propelled the stock to gains of more than 26% on Wednesday, putting the chain on track to surpass its previous highest daily market gain of 25% in November 2008. Traders are pouring into the stock, with trading volumes up more than 6x their 30-day average.
As of Wednesday morning, Cracker Barrel shares are now up more than 80% in 2026.
Fresh off scaling back ambitious plans for its Stargate data centers, OpenAI may be moving forward with a new plan: a 10-gigawatt data center in Ohio powered and backed by Nvidia.
According to a report by The Information, the new data center, built on federal land, would dwarf the largest data centers being built today in terms of computing power.
The facility would cost about $500 billion to build, and OpenAI would would own the equipment and be on the hook for 20 years of lease payments, which Nvidia would provide a backstop for, per the report.
If this sounds familiar, Nvidia and OpenAI did announce a similar deal back in September. Nvidia said it would invest as much as $100 billion in what CEO Jensen Huang called “the biggest AI infrastructure project in history,” which never came to fruition (though Nvidia did invest $30 billion in OpenAI). Per the report, this potential deal is a new plan.
OpenAI’s Stargate partner SoftBank is part of the plan as well. SoftBank’s SB Energy is providing financing for the project, and broke ground on the facility in March. The land on which the data center would be built is owned by the Department of Energy.
The facility would cost about $500 billion to build, and OpenAI would would own the equipment and be on the hook for 20 years of lease payments, which Nvidia would provide a backstop for, per the report.
If this sounds familiar, Nvidia and OpenAI did announce a similar deal back in September. Nvidia said it would invest as much as $100 billion in what CEO Jensen Huang called “the biggest AI infrastructure project in history,” which never came to fruition (though Nvidia did invest $30 billion in OpenAI). Per the report, this potential deal is a new plan.
OpenAI’s Stargate partner SoftBank is part of the plan as well. SoftBank’s SB Energy is providing financing for the project, and broke ground on the facility in March. The land on which the data center would be built is owned by the Department of Energy.
Oscar Health shares surged Wednesday, fueled by an upgrade from Barclays after the company reiterated its full-year guidance earlier this week.
The stock has rallied lately, up about 40% from its June 3 closing price and pushing to its highest levels since the hype days just after its IPO in March of 2021.
Barclays upgraded the insurer to “overweight” from “equal-weight” and raised its price target to $35 from $30, according to Investing.com. Analysts cited the company’s focused participation in the fast-growing Affordable Care Act market as an avenue for potential growth.
On Monday at a Goldman Sachs healthcare conference, Oscar reassured investors by reaffirming the company’s full-year 2026 financial guidance, according to a company filing.
The recent momentum comes after Oscar reported strong Q1 results in May. The company reported revenue of $4.65 billion, up from $3 billion for the first quarter of 2025, driven by higher membership and rate increases.
After soaring more than 2,000%, the stock crashed back down to earth on Wednesday.
Labor shortages, not bots, are the bane of so-called blue-collar businesses.
Amazon has landed a $17.5 billion line of credit arranged by Citibank, according to a new SEC filing.
While the filing says the money is for “general corporate purposes,” the company is clearly on a global borrowing spree to fund its massive AI infrastructure investments, with $200 billion in planned capex this year. For perspective, that budget is larger than the entire GDP of most countries. This giant credit line comes shortly after Amazon shattered the record for issuance in Canada’s “maple bond” market.
The spending is so aggressive that credit rating agency S&P recently warned Amazon’s “leverage will increase substantially” and it will likely report negative free operating cash flow over the next two years to support the data center build-out. Yet, Amazon is rushing to borrow anyway, hoping to service a massive $364 billion cloud backlog.
Inflation ticked up in May, but the key core inflation metric came in cooler than economists had expected, according to the most recent reading by the Bureau of Labor Statistics, released on Wednesday.
Consumer prices rose 0.5% month over month, with core inflation (which strips out volatile food and energy prices) rising 0.2%, slightly cooler than the 0.3% economists were expecting.
Year over year, prices increased 4.2%, the highest in three years, reflecting higher energy prices caused by the war in Iran. Stripping out food and energy, prices rose 2.9%. Both figures are right in line with what economists were penciling in.
S&P 500 Index futures, which had fallen earlier this morning amid escalating tensions in Iran, trimmed some of their losses after the report.
Expectations across various Fed-related prediction markets were largely unchanged following the report. The inflation report, paired with a surprisingly strong jobs report last week, seemed to solidify expectations that the Federal Reserve will keep rates steady at its meeting next week.
“The in-line headline CPI and subdued core inflation data give the Fed some breathing room to remain patient as the energy supply shock plays out,” Angelo Kourkafas, a strategist at Edward Jones, said in a statement.
Chewy shares whipsawed in premarket trading after the online pet retailer reported Q1 results that slightly surpassed earnings expectations and narrowly beat revenue estimates.
Key numbers:
Net sales of $3.36 billion (compared to analyst estimates of $3.35 billion).
Adjusted earnings per share of $0.43 (estimate: $0.41).
Just a few weeks ago, Chewy CEO Sumit Singh, while speaking at the JPMorgan Technology, Media & Communications Conference in late May, said that US consumers appear more financially stretched than they were at the start of 2026, Barron’s reported.
“Our first quarter results demonstrate the resilience of our business model and the strength of our execution, despite a more dynamic consumer backdrop,” Singh said in a statement.
Chewy did not issue a forward guidance update or a revised full-year outlook in its initial press release. Its stock has dropped roughly 39% year to date.
The company’s adjusted EBITDA rose 31.3% to $253.1 million. Gross margin improved 50 basis points year over year to 30.1%.
Chewy added nearly 200,000 net active customers in the quarter, expanding its total active user base to 21.5 million customers, a 3.6% year-over-year increase.
I didn’t make this up: Tesla currently has authorization for 69 unsupervised Robotaxis in Texas, according to the state’s database. That’s up from 42 — perhaps a reference to 420 — last month. While that represents growth, it’s far from the scale that CEO Elon Musk had promised.
And having permission to be on the road doesn’t mean the vehicles are actually in service.
The number of unsupervised Robotaxis has actually declined recently, despite the company’s highly publicized expansion, according to data from Robotaxi Tracker. The site has tracked 32 active unsupervised Tesla Robotaxis in the last month and just 23 in the last week.
Tesla and Musk, who once threatened to take the company private at $420, have long been fans of sophomoric numerology. You can’t actually tip in the Robotaxi app, but as a joke the company suggests tips of $0.69 or $4.20 — and if you tap them, it brings up a “just kidding” graphic.
Amazon is escalating its attack on legacy logistics companies by opening less-than-truckload (LTL) shipping to outside businesses as part of its Supply Chain Services business announced last month.
Previously, businesses could largely only use Amazon’s LTL fleet to send bulk goods inbound to Amazon’s own facilities. Now, companies can use Amazon to ship partial truckloads anywhere in the US, including to rival third-party warehouses or direct to their own retail partners.
That means legacy carriers must now compete against Amazon’s 80,000 trailers, 24,000 containers, and its highly automated network.
“The feedback from Amazon selling partners using our LTL service was clear: the technology, visibility, and reliability were exactly what they needed — and they wanted to use it more broadly,” Jim Ruiz, director of Amazon Freight, said in the press release.
Industry heavyweights like Old Dominion Freight, XPO, and Saia all fell on the news. FedEx, which recently spun off FedEx Freight, is also down.
That means legacy carriers must now compete against Amazon’s 80,000 trailers, 24,000 containers, and its highly automated network.
“The feedback from Amazon selling partners using our LTL service was clear: the technology, visibility, and reliability were exactly what they needed — and they wanted to use it more broadly,” Jim Ruiz, director of Amazon Freight, said in the press release.
Industry heavyweights like Old Dominion Freight, XPO, and Saia all fell on the news. FedEx, which recently spun off FedEx Freight, is also down.