business / news / / Los Angeles Times
The Standard & Poor’s 500 rallied 1% and topped its prior all-time high.
Alphabet's quarterly profit nearly doubled analysts’ expectations, driven by AI investments across its business.
KEY POINTS
- Iran has closed the Strait of Hormuz to oil tankers, while a U.S. Navy blockade targets Iranian oil exports.
- Meta's stock dropped 8.7% despite strong earnings due to increased forecasts for AI-related capital spending.
- The S&P 500 posted its best month in over five years, topping its previous all-time high.
- Oil prices for June Brent briefly exceeded $126 per barrel amid Middle East disruptions before retreating.
COMPANIES
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