Finance
U.S. Average Diesel Price Reaches $6.06 a Gallon on Sept. 11, a Nominal Record; California Averages $7.98
AAA's national diesel average topped $6 for the first time in nominal dollars as the U.S.-Iran war, the closure of the Strait of Hormuz and strikes on Russian refineries squeeze global diesel supply; adjusted for inflation, the 2022 and 2008 peaks were higher.
Oil Jumps About 8% After U.S.-Saudi Airstrikes in Iraq, Then Gives Back Part of the Gain
Brent crude settled at $90.74 a barrel on July 29 after joint U.S.-Saudi strikes on Iran-aligned forces in Iraq, as traders weighed threats to Gulf export routes and Iraq's government called the strikes a violation of its sovereignty.
Oil Jumps After U.S. Reinstates Iran Blockade and Trump Proposes 20% Hormuz Transit Fee
Crude prices rose sharply as the U.S. moved to blockade Iranian ships near the Strait of Hormuz and President Trump proposed charging a 20% fee on cargo crossing the waterway, a plan the UN maritime agency and shippers call unlawful.
Fed Governor Lisa Cook Answers White House Removal Letter, Saying There Is No Legal Basis to Fire Her
Cook's lawyer replied on August 26 to an August 5 letter from deputy chief of staff Dan Scavino that gave her 21 days to respond to mortgage-fraud allegations; President Trump has not announced a decision.
U.S. 50% Tariffs on About $20 Billion of Canadian Goods Took Effect Aug. 22 After Talks Ended; Carney Sets Sept. 8 Retaliation
Negotiations in Washington broke off late Friday, the suspended Section 338 duties took effect at 12:01 a.m. ET Saturday, and Canada says its matching tariffs begin Sept. 8.
Brent Crude Rises to $84.18 in Third Straight Session of Gains as Hormuz Reopening Talks Continue
Oil gained again on Monday as Iran and Oman said a shipping-route deal was near but warned the Strait of Hormuz would not reopen right away.
Dow Closes Up 624 Points as 10-Year Treasury Yield Eases From Its Highest Level Since November 2023
Fed Governor Christopher Waller said on Sept. 3 he would be inclined to hold rates steady rather than raise them if inflation keeps cooling, and traders cut the odds of a September hike from 63.2% to 50.4%.
Bureau of Labor Statistics Releases July Consumer Price Index; Futures Traders Put September Fed Hike Odds Near 50%
The July inflation report landed at 8:30 a.m. ET Wednesday, the last major price reading before the Federal Reserve's September meeting under new Chair Kevin Warsh.
Fed Chair Warsh, in First Congressional Testimony, Calls Inflation Fight Unfinished as Soft June CPI Lowers July Rate-Hike Odds
Kevin Warsh told the House Financial Services Committee the Fed has 'no tolerance' for elevated inflation and gave no signal on the July 28–29 decision, hours after a surprise 0.4% June price drop cut market-implied odds of a July hike.
Morgan Stanley and BlackRock Report Second-Quarter 2026 Earnings; BlackRock Assets Reach Record $15.3 Trillion
The two firms reported Wednesday, a day after five large U.S. banks posted record profits, extending a Wall Street earnings season powered by a trading and dealmaking boom while bond yields stay high.