Keep pulling the thread on S&P 500.
Brent crude oil prices approached $120 per barrel, rising for an eighth consecutive day and increasing by 7% during the session.
Federal Reserve Chairman Jay Powell expressed concern that a series of legal attacks are battering the institution and risking its ability to conduct monetary policy free from political influence.
The Federal Reserve's latest monetary policy decision was passed with an 8-4 vote, a level of dissent not seen since 1992.
Federal Reserve Chairman Jay Powell stated that a change to a more neutral monetary policy stance could conceivably occur as soon as the next FOMC meeting.
President Donald Trump has previously threatened to fire Federal Reserve Chairman Jay Powell.
Jim Bianco predicts that if the Supreme Court allows President Trump to fire Federal Reserve Governor Lisa Cook for cause, Trump will likely fire Jay Powell on the same day, creating two open board seats.
The June contract for Brent crude oil surpassed $120 per barrel, reaching its highest price since June 2022.
According to Federal Reserve Chairman Jay Powell, PCE inflation is currently at 3.5%.
The Fed funds futures market is no longer pricing in an interest rate cut for 2026.
Fed Chair Powell indicated that the economic pass-through of high oil prices is entirely dependent on the duration for which the Strait of Hormuz remains closed.
Jeffrey Rosenberg of BlackRock argues that the global "savings glut" is turning into a "savings deficit" due to the need to reshore supply chains and reallocate capital in response to the war involving Iran.
The S&P 500 was unchanged in afternoon trading despite significant moves in commodity and bond markets.