A top Federal Reserve official is sounding an alarm that Wall Street has largely shrugged off: the AI infrastructure boom may not just be a growth story — it could become an inflation problem that forces the Fed to hike rates. Cleveland Fed President Beth Hammack said Tuesday that insatiable demand for AI-related hardware and data center components is putting upward pressure on prices. If that pressure persists, she said, the central bank may need to raise benchmark interest rates to bring inflation back under control. Crucially, Hammack is a voting member of the Federal Open Market Committee ...

SpaceX is joining the Nasdaq-100 in one of the fastest index inclusions on record, triggering a wave of mandatory buying from the more than $800 billion in assets that track the benchmark index. Nasdaq announced the addition after the market close Friday, with index-tracking funds set to purchase shares after July 6's market close, and SpaceX officially entering the index when trading opens on July 7. The move comes less than a month after the company's blockbuster public debut on June 12 — making SpaceX one of the first beneficiaries of Nasdaq's newly adopted fast-track inclusion framework fo...

The Magnificent 7 — the seven mega-cap tech stocks that powered the bull market — are heading into the second half of 2026 with a bruising month behind them. Microsoft, Nvidia, Alphabet, Apple, Meta, Tesla, and Amazon have collectively shed approximately $2.3 trillion in market value during June alone, with the CNBC Magnificent 7 Index down roughly 10% for the month. The trigger is a growing investor debate over whether the staggering AI infrastructure spend these companies are undertaking will ever produce sufficient returns.The numbers paint a stark picture. Microsoft has dropped roughly 20%...

A top Federal Reserve official is sounding an alarm that Wall Street has largely shrugged off: the AI infrastructure boom may not just be a growth story — it could become an inflation problem that forces the Fed to hike rates. Cleveland Fed President Beth Hammack said Tuesday that "insatiable" demand for AI-related hardware and data center components is putting upward pressure on prices. If that pressure persists, she said, the central bank may need to raise benchmark interest rates to bring inflation back under control. Critically, Hammack is a voting member of the Federal Open Market Committ...

SpaceX is joining the Nasdaq-100 in one of the fastest index inclusions on record, and it's triggering a wave of mandatory buying from the more than $800 billion in assets that track the benchmark index. Nasdaq announced the addition after the market close Friday, with index-tracking funds set to purchase shares after July 6's market close, and SpaceX officially entering the index when trading opens on July 7. The move comes less than a month after the company's blockbuster public debut on June 12 — making SpaceX one of the first beneficiaries of Nasdaq's newly adopted fast-track inclusion fra...

The Magnificent 7 — the seven mega-cap tech stocks that powered the bull market — are heading into the second half of 2026 with a bruising month behind them. Microsoft, Nvidia, Alphabet, Apple, Meta, Tesla, and Amazon have collectively shed approximately $2.3 trillion in market value during June alone, with the CNBC Magnificent 7 Index down roughly 10% for the month. The trigger is a growing investor debate over whether the staggering AI infrastructure spend these companies are undertaking will ever produce sufficient returns. The numbers paint a stark picture. Microsoft has dropped roughly 2...

Defense drone maker AeroVironment (AVAV) ripped 28% higher in early Tuesday trading after delivering a blowout fiscal fourth-quarter earnings report that smashed Wall Street estimates on both the top and bottom lines. The company earned $1.84 per share — a 26% beat versus the $1.46 consensus — while revenue more than doubled to $642 million, topping analyst expectations of $560 million. For a defense stock that had been down more than 40% year-to-date heading into the report, the reversal was dramatic. The numbers behind the surge tell a compelling story about the structural shift in modern w...

Starting Wednesday, July 1, Medicare will cover GLP-1 obesity drugs for the first time in the program's history — a watershed development that could unlock millions of new patients for Novo Nordisk (NVO) and Eli Lilly (LLY). Eligible beneficiaries can access weight-loss drugs like Wegovy and Zepbound for a flat $50 monthly copay under Medicare's new Bridge demonstration program, dramatically undercutting the out-of-pocket prices patients currently pay. The scale of the opportunity is enormous. There are more than 69 million Medicare beneficiaries, and the Centers for Medicare and Medicaid Ser...

U.S. small-cap stocks are closing out the first half of 2026 with their strongest performance since 1991, and the driver might surprise you — it's not a classic economic boom. The Russell 2000 Index has surged more than 21% year-to-date, and this run is being powered by the same AI infrastructure buildout that has dominated large-cap headlines. The difference: for small caps, the upside may just be getting started. Semiconductor and semiconductor-equipment companies have been the biggest winners, accounting for roughly 16% of the rally's gains. Smaller chip suppliers and hardware makers are c...

U.S. Treasury yields held relatively steady Monday morning as investors balanced two competing themes: anticipation of critical labor market data later in the week and cautious relief over a fragile ceasefire between the U.S. and Iran in the Strait of Hormuz. At 10:17 a.m. ET, the benchmark 10-year Treasury yield ticked up less than one basis point to 4.376%, while the 2-year yield rose just over 2 basis points to 4.113%. The 30-year bond declined fractionally to 4.857%. It's the calm before what could be a volatile stretch for rate-sensitive assets — the bond market closes Friday, July 3 for ...