U.S. producer prices unexpectedly fell in June, posting their biggest decline in 14 months amid a pullback in the cost of energy products, further evidence that inflation was subsiding before the recent escalation in the Middle ​East conflict.

The producer-price index declined by 0.3% in June, the Labor Department said, after increasing by an elevated 0.6% in May. Analysts had estimated that producer prices held steady last month.

Quick ReadProducer prices dropped 0.4% in June, marking the largest monthly decline since the pandemic and signaling that Fed rate hikes are increasingly unlikely.Year-over-year wholesale inflation slowed to 1.

Wholesale prices fell in June as oil prices declined, the Bureau of Labor Statistics said on Wednesday, though that drop that has since been reversed. For the month, prices fell by 0.3%, leading to a 5.

Iran threatened to block all oil exporting routes in the region on Wednesday in response to the U.S. maritime blockade of Iranian ports in the Strait of Hormuz.

The US military early Wednesday reimposed a blockade on Iranian ports over Tehran’s attacks on ships trying to pass through the Strait of Hormuz, sparking new strikes on nations hosting US forces as an interim deal to end the war further unraveled.

America launched new strikes on Iran moments before its naval blockade on Iranian ports came into effect. Iran’s Islamic Revolutionary Guard Corps said they hit American weapons facilities in the Gulf in retaliation.

Technology stocks are leading markets higher worldwide as winners of the AI boom gather more strength following several shaky weeks

Still, the CEO seems to believe AI won’t radically reshape the bank’s workforce. JPMorgan Chase CEO Jamie Dimon has repeatedly suggested that AI adoption would not drive widespread layoffs at the bank.

JPMorgan CEO Jamie Dimon wants his successor to have everything from heart, soul, and grit to curiosity and emotional intelligence.

Jamie Dimon knows what he wants in his successor, and it’s a long list. “You want to be good at management, you want to be good at people, you want to be analytical, you want

Investors are keeping a close eye on JPMorgan's succession strategy, with Dimon having served as CEO for more than 20 years.

SpaceX stock, a top IPO of the year, dipped below its initial public offering price of $135 for the first time ever. Its valuation briefly overtook Microsoft and Amazon after its June 12 debut.

Elon Musk’s rocket and AI company needs some good news. That could come Thursday with the launch of SpaceX’s reusable Starship.

IPO high, showing that markets may be sobering up to the promises CEO Elon Musk made before and after SpaceX went public.

SpaceX has shed nearly 40% from its post-IPO peak in just four weeks, and a looming lockup unlock threatens to flood the market with more shares than the entire IPO float. One specific price level changes the math entirely.

Social Security’s cost-of-living adjustment could be around 3.8% in 2027, adding about $74 a month to the average retiree’s benefits, as inflation shows signs of cooling. According to independent Social Security analyst Mary Johnson,

New estimates call for a 3.6% to 3.8% benefit increase next year, although the final adjustment will depend on inflation readings released this summer.

Social Security checks are expected to increase next year by 3.7%, based on the June consumer inflation report, a new estimate shows. A cost-of-living adjustment of 3.7% is down a full percentage point from last month's estimate as inflation cooled in June,

Social Security and Medicare analyst Mary Johnson estimates that the 2027 Cost-of-Living Adjustment (COLA) could be 3.7 percent.

The consumer price index for the year ending in June rose 3.5%, less than economists expected, the U.S. Bureau of Labor Statistics reported Tuesday.

U.S. inflation cooled last month as the cost of gasoline, clothes and used cars fell, providing some relief to consumers, while underlying price pressures also slowed more than expected.

The Consumer Price Index declined 0.4 percent from May, according to figures released Tuesday by the Department of Labor. It was the largest monthly decrease since 2020. Compared with June of the previous year,

Consumer prices posted their biggest decline in more than six years during June as a sharp swoon in energy prices provided at least temporary relief from this year's inflation surge, the Bureau of Labor Statistics reported Tuesday.