The Day Ahead

• TOP NEWS

  • The Federal Reserve held interest rates steady, projecting higher inflation, steady unemployment, and only a single rate cut this year, considering risks from the U.S. and Israeli war with Iran.
  • Josh D'Amaro officially became Disney's new CEO, taking charge during a period of significant change for the entertainment company.
  • Macy's forecast a weak 2026, expecting a fall in annual revenue and profit due to macroeconomic and geopolitical risks affecting consumer spending, though tariff impacts may ease later this year.
  • Meta repeatedly failed to stop illegal high-risk financial ads on its platforms in Britain, despite commitments, with the financial regulator noting 1,000 failures in a week.
  • Microsoft is reportedly considering legal action against OpenAI and Amazon over a $50 billion cloud deal that might violate its exclusive cloud agreement with OpenAI.

• MARKET RECAP

  • Wall Street fell, and Treasury yields climbed after the Fed's decision and single rate cut projection, influenced by geopolitical risks.
  • Gold fell as the dollar strengthened on expectations of higher-for-longer interest rates.
  • Oil prices surged following threats from Iran's Revolutionary Guards to attack Middle Eastern energy facilities.