The United States and Iran signed a 60-day memorandum to continue nuclear negotiations, and Washington formally waived oil sanctions on Tehran for two months, opening a path for Iran to unlock as much as $10 billion in export revenue. Over the same period, the national average gasoline price slid to $3.93 a gallon, down 14% from a May peak, and Brent crude fell below $80 a barrel. Although later talks broke down and fresh reports emerged of another blockade in the Strait of Hormuz, expectations of near-term supply increases have already weighed on energy prices.

SpaceX disclosed plans to raise ~$20 billion via senior unsecured bonds to fund AI development and space-based data centers. The move follows its record $86 billion IPO and comes amid rapid cash burn — $10.1 billion spent in Q1 2024, $7.7 billion of which went to AI. The article notes Alphabet, Amaz

Nevada has confirmed large lithium reserves, accelerating job creation and the state’s push to diversify beyond gaming. Professional and business services, education and health services, and mining-related roles have posted notable gains. The state’s workforce grew 1.9% in 2025–2026, the fastest pace nationwide, accounting for 12% of U.S. job growth over the same period. Lithium’s role in AI infrastructure—such as data-center backup power and EV batteries—has heightened attention on the value of localized supply.

General Motors replaced more than 1,000 workers with 50 collaborative robots at its Factory Zero plant in Detroit, citing weaker EV demand and pressure to cut costs. The facility has paused production multiple times, and the United Auto Workers has opposed the move and filed safety grievances. The dispute underscores strain on GM’s EV push and its operations, which could weigh on investor confidence in the company’s path to profitability and capital spending efficiency.

California’s Second District Court of Appeal upheld an injunction obtained by the California Coastal Commission that bars Sable Offshore Corp. from repairing and restarting the CA-324 and CA-325 oil pipelines linking offshore Santa Barbara platforms to refineries outside the region. The lines have been shut since the 2015 Refugio oil spill, and Sable sought to proceed under coastal development permits issued in 1986 after acquiring the assets in 2024. Regulators said the work required additional approvals, and the court rejected Sable’s procedural challenge, confirming the commission acted within its authority.

Regional burger chains such as In-N-Out, Whataburger and Culver’s are posting strong sales growth in 2025, while McDonald’s is contending with sharp price increases and weaker same-store performance. McDonald’s menu prices have risen by more than 100% over the past decade, and the share of U.S. customers who say it offers good value fell from 55% to about 40% between 2020 and 2024. Even as McDonald’s rolls out upgraded burgers and refreshes stores, consumers are shifting toward regional brands that emphasize quality and experience. The shift points to eroding competitiveness in core fast food burgers and adds fundamental pressure on McDonald’s stock.

JBS USA said it will shut its beef operations in Philadelphia and Memphis, eliminating 2,000 jobs. The company said the closures are part of a consolidation of its beef and case-ready businesses aimed at improving efficiency and productivity. Industry estimates put JBS at about 20% of U.S. cattle and hog slaughter capacity, and it is among four companies that process about 85% of the nation’s grain-fed cattle. The move comes as U.S. beef prices have risen while JBS reported a wider first-quarter 2026 net loss of $279 million.

Federal Reserve Chair Kevin Warsh delivered a sharply hawkish message, indicating a rate increase could be on the table as soon as September if inflation does not cool meaningfully. Former Dallas Fed President Robert Kaplan also said policymakers may need to act in September or later in the fall. Markets quickly dropped expectations for rate cuts and shifted to pricing in the possibility of hikes before year-end. The pivot pressured rate-sensitive assets by lifting Treasury yields and the dollar, weighing on growth-stock valuations while indirectly supporting gold as a hedge.

Nine of the Federal Reserve’s 18 policymakers expect at least one interest-rate increase in 2026, stoking concerns that monetary policy could turn more restrictive. The Dow fell 507 points, while the Nasdaq dropped 1.4% and the S&P 500 slid 1.2%. Treasury yields rose, with the 10-year at 4.48% and the 2-year at 4.20%. In his first press conference, Chair Kevin Warsh hinted at ending forward guidance and stressed data-dependent decisions, adding to near-term uncertainty.