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Target reported better-than-expected earnings for the first quarter of the year. Other big retailers like Home Depot, Lowes, and TJ Maxx also did well with their earnings and sales, showing strong performance.
Key Facts
Target's first quarter earnings beat analysts’ expectations.
Target experienced its strongest sales growth in several years.
Home Depot, Lowes, and TJ Maxx also reported better-than-expected earnings and revenue.
The earnings results were released on a Wednesday.
These retailers are trying to improve their financial performance.
The reports indicate positive trends for major U.S. retail companies.
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Nvidia announced record revenue in its first quarter earnings report. This report highlights Nvidia’s important role in the development of artificial intelligence (AI) technology.
Key Facts
Nvidia is now the world’s most valuable company.
The company reported its highest-ever revenue in the most recent quarter.
Nvidia produces computer chips important for AI development.
The earnings report shows strong demand for AI-related products.
Experts consider Nvidia a key player in the ongoing AI race.
The company’s success reflects growing interest and investment in AI technology.
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SpaceX filed detailed financial documents with the U.S. Securities and Exchange Commission ahead of a planned stock market debut possibly as soon as June 12, 2024. The filing showed the company earned $18.67 billion in 2025 but lost $4.94 billion, mainly due to spending on artificial intelligence (AI). Elon Musk will keep majority control after the company goes public.
Key Facts
SpaceX was founded in 2002 and operated privately until this recent financial disclosure.
The company reported $18.67 billion in revenue for 2025, up from $14.02 billion in 2024.
SpaceX had a small profit in 2024 but a $4.94 billion loss in 2025 due to heavy AI development costs.
SpaceX estimates its total market opportunity at $28.5 trillion, mostly from AI-related services, with $2 trillion from space activities and Starlink internet.
Elon Musk will hold 85.1% of the voting power after the public offering and remain CEO and chairman.
Musk’s salary was $54,080 in 2025, while President and COO Gwynne Shotwell earned $1.08 million salary plus $85.8 million in stock awards.
The company’s future could be affected by changes in U.S. government politics, spending, and regulations.
SpaceX’s business includes rocket launches, space missions, satellite internet, and AI and social media ventures through recent acquisitions.
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SpaceX announced it will go public on the Nasdaq stock exchange with a valuation of about $1.75 trillion, aiming to raise up to $80 billion. The company's financial details showed strong revenue from its Starlink satellite internet service and large investments in artificial intelligence (AI), but also significant losses in early 2026.
Key Facts
SpaceX plans to list on Nasdaq under the symbol SPCX, likely on June 12.
The company expects a valuation of around $1.75 trillion and seeks up to $80 billion in investment.
SpaceX earned $18.7 billion in revenue for 2025 and over $3.2 billion in the first quarter of 2026 from its connectivity segment, which includes Starlink.
In the first three months of 2026, SpaceX reported a loss of more than $4.2 billion.
SpaceX has invested billions in artificial intelligence and is developing data centers in orbit to support AI technology.
The company acquired Elon Musk’s AI firm, xAI, in February 2026.
SpaceX identified competitors like OpenAI and Anthropic in its investor prospectus.
Elon Musk’s net worth could increase significantly from this IPO, moving him closer to becoming a trillionaire.
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SpaceX has filed for an initial public offering (IPO) that could value the company at $1.75 trillion. The company, founded by Elon Musk, is known for its reusable rocket technology and its Starlink satellite internet service, and it aims to grow in space-based AI and Mars colonization.
Key Facts
SpaceX’s IPO filing reveals a potential valuation of $1.75 trillion.
The company earned $18.67 billion in revenue last year, mainly from its Starlink internet satellites.
SpaceX pioneered reusable rockets, transforming the space industry by lowering launch costs.
The IPO could be one of the largest ever, surpassing Saudi Aramco’s $1.7 trillion offering from 2019.
SpaceX’s new Starship rocket is preparing for a test flight, crucial for Mars missions and Starlink expansion.
Elon Musk’s payment is linked to ambitious goals like establishing a colony on Mars and creating space data centers powered by large amounts of energy.
SpaceX’s AI division, xAI, is currently losing money but represents a major part of future growth plans.
The share sale could happen as early as June 11, with the stock listing expected the next day.
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A new group called a “market integrity watchdog” started a major advertising campaign in Washington, D.C., criticizing the prediction market company Kalshi. Kalshi has also been increasing its own advertising efforts in the city this year.
Key Facts
A new group targeting Kalshi launched a large ad campaign in Washington, D.C.
The group calls itself a “market integrity watchdog.”
The campaign involves spending six figures on ads.
The ads focus on Kalshi, a company that operates prediction markets (places where people bet on future events).
Kalshi has increased its own advertising and promotion in Washington this year.
Prediction markets allow people to trade contracts based on outcomes of events like elections or economic results.
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SpaceX plans to sell shares to the public in one of the largest stock sales ever for a space company, despite losing billions of dollars last year. The money raised will help fund space projects like missions to the moon and Mars, while keeping Elon Musk in control of the company.
Key Facts
SpaceX lost $2.6 billion in 2025 but had $18.7 billion in revenue.
The initial public offering (IPO) could raise about $75 billion.
This IPO might be the biggest ever, surpassing Saudi Aramco’s past IPO.
Funds will support space exploration projects aimed at sending people to the moon and Mars.
SpaceX aims to help humans become an intergalactic species and avoid extinction like the dinosaurs.
Elon Musk and some shareholders will get special stock with 10 votes per share.
These shares will allow Musk and others to control most of the company’s board of directors.
Musk could become the world’s first trillionaire from this offering.
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Rachel Reeves, the UK Chancellor, will announce a plan to offer free bus rides for children in August and reduce tariffs on some imported foods to help with rising living costs caused by the Iran conflict. The plan also includes freezing fuel duty increases and offering tax relief to truck drivers to lower prices for consumers.
Key Facts
Free bus rides will be available in August for children 15 and under as part of a “Great British summer savings scheme.”
Tariffs on certain imported foods like biscuits, chocolates, and dried fruits will be cut to reduce prices.
The planned fuel duty increase due in September and December will be postponed.
Truck drivers (hauliers) will receive a 12-month vehicle tax holiday.
The duty on red diesel used by farmers will be cut by one-third.
The cost of these measures for motorists is expected to be about £400 million.
Some experts say the fuel duty freeze mainly benefits wealthier households rather than those with lower incomes.
A plan to get supermarkets to offer low prices on basic foods was dropped after retailer opposition.
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Byron Allen’s show "Comics Unleashed" will take over the late night time slot on CBS after "The Late Show With Stephen Colbert" ends. His company will air two episodes back-to-back at 11:35 p.m. ET on weekdays, replacing the canceled show due to financial reasons.
Key Facts
"The Late Show With Stephen Colbert" is ending on CBS because of financial challenges in late night TV.
Byron Allen’s "Comics Unleashed" will air two episodes each weeknight at 11:35 p.m. ET starting Friday.
Another show by Allen’s company, "Funny You Should Ask," will move to 12:37 a.m. ET.
Allen offered to provide "Comics Unleashed" at no cost to CBS to save money and maintain an audience.
Allen owns many local TV stations and media properties, including The Weather Channel and stakes in major network affiliates.
Allen started in comedy young and has written for famous comedians and appeared on Johnny Carson’s show.
Allen wants to keep the late night audience entertained without politics, focusing on comedy that brings people together.
CBS made the decision based on business reasons rather than show quality.
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Stellantis, a French-Italian car company, and China's Dongfeng are starting a joint venture in Europe. Stellantis will own 51% of the venture, and Dongfeng's new electric vehicles (EVs) will be assembled in a Stellantis factory in western France to meet EU rules that require most EV parts to be made in Europe.
Key Facts
Stellantis and Dongfeng are partnering to create a new company in Europe.
Stellantis will hold the majority share with 51%.
Dongfeng’s new electric cars will be built in Stellantis’ French factory.
This move follows the EU’s “Made in Europe” rule needing 70% of EV parts to be locally made.
The deal helps Dongfeng access the European market with locally assembled EVs.
The joint venture aims to boost EV production and comply with new regulations.
The factory is located in western France, part of Stellantis’ existing manufacturing sites.
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Gas prices in the U.S. are currently the highest since 2022 and are expected to keep rising over the summer travel season. Factors include a conflict in the Middle East disrupting oil shipping routes, seasonal fuel changes, and increased demand from more drivers on the road.
Key Facts
Gas prices averaged $4.56 per gallon recently, up $1.40 from last year.
Prices could reach $4.80 per gallon on average from Memorial Day to Labor Day.
The conflict between the U.S. and Israel against Iran has stalled oil shipping in the Strait of Hormuz, affecting global oil supply.
The Strait of Hormuz normally handles about 20% of the world’s oil shipments.
Seasonal rules require gas stations to sell a special summer fuel blend, which costs about 15 cents more per gallon.
More people driving in summer can raise gas prices by 5 to 15 cents per gallon.
More than half of Americans say high gas prices cause financial difficulties.
It might take a year or more for gas prices to return to normal even after the shipping route reopens.
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SpaceX has filed to sell its shares to the public through an initial public offering (IPO), with a planned stock market debut expected next month. The company, led by Elon Musk, reported large losses but also high revenue, and it aims to start trading on the Nasdaq under the symbol "SPCX."
Key Facts
SpaceX filed confidentially for an IPO with the U.S. Securities and Exchange Commission on April 1.
The IPO could be the largest ever and may make Elon Musk the first trillionaire.
Elon Musk owns 85.1% of voting power at SpaceX because of a special stock structure.
SpaceX had a net loss of $4.9 billion on $18.67 billion revenue in 2025, including its recent merger with xAI.
In the first quarter of 2026, SpaceX lost $4.27 billion on $4.69 billion in revenue.
SpaceX plans to start trading on the Nasdaq stock exchange in late June under the ticker "SPCX."
The filing did not specify how many shares will be offered or the price; details will come later.
SpaceX is known for working with NASA, creating the Starlink satellite internet, and acquiring Musk’s AI company xAI.
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Two child safety groups have asked the Federal Trade Commission (FTC) to look into the gaming platform Roblox. They claim Roblox is acting unfairly and in ways that could harm children’s safety.
Key Facts
Child safety groups Fairplay and the National Center on Sexual Exploitation (NCOSE) filed a complaint with the FTC.
The complaint accuses Roblox of "unfair and deceptive" practices.
These groups say Roblox’s actions put children’s safety and well-being at risk.
The complaint was submitted on a Wednesday.
Other child advocacy organizations also joined in the complaint.
The investigation request focuses on how Roblox protects children on its platform.
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Basketball star Kevin Durant and rapper Drake appeared together in a new Nike commercial for Durant's 19th signature sneaker, the KD 19. The ad shows them humorously reacting to different shoe designs before revealing the official new sneaker, which will be launched on June 13 through Nike's app and on June 17 worldwide.
Key Facts
Kevin Durant has promoted his Nike KD 19 shoe since March, including special colorways like "Orange Crush" and red.
Toronto rapper Drake co-stars in the official Nike ad for the KD 19 sneaker.
The ad shows Durant and Drake in a locker room, sharing playful reactions to fake and real shoe designs.
The official new sneaker revealed in the ad is called the "Candy's" in a light blue color.
The KD 19 design is inspired by Durant's nickname, "Slim Reaper," according to Nike.
The KD 19 sneaker will first be available on Nike's SNKRS app on June 13.
The global launch of the KD 19 sneaker will take place on June 17.
Drake posted the ad on Instagram encouraging viewers to "Normalize glazing the bros," meaning to openly admire friends.
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A woman from California has filed a lawsuit against Walt Disney Company. She claims that Disney's use of facial recognition technology at its theme parks breaks privacy laws.
Key Facts
The lawsuit was filed in the Southern District of New York.
Summer Christine Duffield, from Riverside County, is the lead plaintiff.
The complaint accuses Disney of using facial recognition at park entrances without proper consent.
The lawsuit is a class-action, meaning it may represent many people.
The claim is based on consumer privacy laws that protect personal information.
The issue focuses on visitors to Disneyland and Disney California Adventure parks.
Facial recognition technology reads and identifies people's faces automatically.
The case challenges whether the technology's use is legal and ethical in this context.
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James Murdoch’s company, Lupa Systems, will buy New York Magazine and the Vox Media Podcast Network from Vox Media for over $300 million. The deal includes Vox.com and aims to grow Murdoch’s presence in news and entertainment.
Key Facts
James Murdoch is buying New York Magazine and Vox Media’s podcast division.
The purchase price is more than $300 million.
The deal includes the politics site Vox.com but not some other Vox Media brands like Eater and The Verge.
James Murdoch and his wife actively recruited top podcast talent such as Kara Swisher and Scott Galloway.
Vox’s podcast network has a large audience that advertisers want to reach, comparable to cable news.
New York Magazine covers culture, politics, and fashion and has over 400,000 paying subscribers.
Vox Media CEO Jim Bankoff will join Lupa Systems and keep leading the Vox brands.
James Murdoch previously left News Corp over editorial disagreements and started Lupa Systems in 2019.
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Food prices in the U.S. are expected to rise sharply due to higher oil prices and disruptions in fertilizer supplies caused by conflict-related supply chain issues. Farmers face increasing costs for fuel and fertilizers, which may lead to higher grocery costs later this year and into 2026.
Key Facts
Oil prices have increased by over 50% since the conflict began on February 28, causing gas prices to rise above $4.50 per gallon nationwide.
Higher oil prices increase fuel costs for farmers, which raises their overall production costs.
The Strait of Hormuz, a key shipping route for fertilizer, remains nearly closed, disrupting supply and raising fertilizer prices in the U.S. by about 20%.
The World Bank forecasts a 31% global increase in fertilizer prices in 2026, especially a 60% rise in urea fertilizer costs.
An April survey found that 70% of U.S. farmers cannot afford all the fertilizer they need, with diesel fuel costs up 46% since the war started.
The U.S. Department of Agriculture has raised its forecast for food price increases in some food groups for 2026.
Experts warn the full impact on food prices will appear later in the year and into 2026, with inflation possibly reaching 11% year-over-year.
Rising food prices will affect many Americans who already face challenges in affording groceries.
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A $100,000 certificate of deposit (CD) can earn fixed interest over different time periods, with rates currently around 4%. CDs offer a safer way to earn money compared to stocks because the interest rate and principal are protected from market ups and downs. The amount earned depends on how long the money stays in the CD.
Key Facts
CD interest rates vary by term but are currently close to 4%.
A 3-month CD at 3.90% can earn about $961 in interest.
A 1-year CD at 4.10% can earn $4,100 in interest.
A 5-year CD at 4.15% can earn $22,545 in interest.
CDs guarantee the principal and interest rate, offering protection from market changes.
CDs are insured by the FDIC up to $250,000 per account, ensuring safety of the money.
Early withdrawal from a CD may result in fees, especially with large amounts.
Online banks often offer higher CD rates than traditional banks with branches.
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Michael Bay will direct a new movie about a recent U.S. military rescue mission in Iran. The film, made with Universal Pictures, is based on a book by Mitchell Zuckoff and will highlight the bravery of U.S. service members.
Key Facts
Michael Bay, known for films like Armageddon and Transformers, is directing the film.
The movie is about the rescue of two U.S. soldiers whose fighter jet crashed in Iran.
President Donald Trump called this rescue “one of most daring search-and-rescue operations in US history.”
The film is based on an upcoming book by Mitchell Zuckoff, expected in 2027.
Zuckoff’s earlier book, 13 Hours, was also made into a film directed by Bay in 2016.
Bay’s previous films, including 13 Hours and Ambulance, did not perform well at the box office.
Bay had planned a new Will Smith action movie in 2024, but the project was canceled due to creative disagreements.
Bay recently directed a Super Bowl commercial for the Secret Service and shared a story about meeting President Trump during filming.
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