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U.S. retail and food service sales hit $763.7 billion in May, jumping 0.9% month-over-month — nearly twice the 0.5% consensus. Gains were broad-based, though economists caution that tax-refund tailwinds are already fading.
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The Dow set its third consecutive intraday record on June 17 before reversing sharply after the Fed's hawkish dot plot signaled rate hikes ahead. All three major indexes closed deep in the red.
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Kevin Warsh chaired his first Fed meeting and kept rates at 3.5%–3.75% — but the real story was a dot plot that erased expected cuts and now leans toward a hike, paired with a stripped-down 130-word statement and the death of forward guidance.
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Boeing surged ~4.5% on June 16 after a U.S.-brokered Middle East peace deal triggered a 5%+ oil price drop — cheaper fuel means healthier airline margins, and healthier airlines buy more planes. Here's how the transmission mechanism works.
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Snap unveiled its Specs AR glasses at $2,195 — triple the price of Meta's Ray-Ban smart glasses — and the market wasn't impressed. SNAP closed down 9.72% on June 16 as investors balked at the steep price tag.
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Lionsgate Studios (LION) jumped nearly 14% on June 16 after rumors swirled that it could be a takeover target. Netflix and Fox have since denied any acquisition plans.
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Fox beat out Netflix in the race for Roku at roughly $160 a share — a ~$22B deal — leaving NFLX down 3.61% on Tuesday. The same day, Netflix also denied rumors it was pursuing Lionsgate.
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TSMC and Amkor Technology signed a decade-long partnership to expand advanced semiconductor packaging in Arizona, targeting surging AI and high-performance computing demand. AMKR closed up roughly 7.4% on the day.
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Just four days after its Nasdaq debut, SpaceX signed a definitive agreement to acquire Cursor parent Anysphere in an all-stock deal valued at roughly $60 billion. Shares jumped another ~10% on the news.
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U.S. stocks split sharply on June 16: a wave of profit-taking hammered Nvidia, Broadcom, Micron, and AMD, pushing the Nasdaq down 1.15%, while the Dow climbed to a fresh record as money rotated into value and defensive plays.
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Comtech (CMTL) announced a $157.5M sale of its satellite and space communications business to Israel's Gilat, with net proceeds of ~$143M–$145M earmarked for debt repayment. The deal — not the mixed quarterly earnings — drove a ~9.5% stock gain on June 15.
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Domo (DOMO) posted Q1 revenue of $79.4M, narrowly missing consensus, while its per-share loss came in better than expected. The bigger story: the board disclosed it is in advanced talks on a strategic transaction — sending shares down roughly 10% after hours.