People walk past a new billboard depicting the closure of the Strait of Hormuz in Valiasr Square, Tehran, Iran, May 2, 2026. Shipping companies said President Donald Trump’s offer to provide them safe passage through the strait fell short of the sort of arrangements that would persuade them to make the trip. (Arash Khamooshi/The New York Times) By PETER EAVIS, GREGORY SCHMIDT and ERIC SCHMITT Shipping companies said earlier this week that President Donald Trump’s offer to pro

Gulf tensions flared on Monday as U.S. ⁠attempts to shepherd ships through the Strait of Hormuz met resistance from Iran, including an attack on a UAE ​oil port. Crude prices leapt in response, but they’ve eased slightly heading into Tuesday. Markets remain torn between the precarious geopolitical situation on the one hand and dramatic upgrades to ‌U.S. earnings growth and AI spending forecasts on ‌the other, with global shares edging higher early on Tuesday. I’ll get into th

A Spirit Airlines airplane sits near a hangar at Miami International Airport in Miami, Florida on May 2, 2026. Even in its reduced state, the company played an important role in forcing other airlines to keep fares low, some experts said. (Tom Brenner/The New York Times) By NIRAJ CHOKSHI Spirit Airlines was once a potent force in the U.S. aviation industry. Its demise will reveal how strong that influence had been in recent years when air travel had already begun moving away

U.S. equity fund ⁠inflows ⁠ebbed to a ⁠six-week low in the week through ​April 29 as investors concerned over a surge in ‌crude oil prices exercised ‌caution ahead of a monetary policy ⁠decision ⁠by the Federal Reserve. According to LSEG Lipper data, investors ​bought just $911 million worth of U.S. equity funds in their smallest weekly net purchase since March ​18. The Federal Reserve kept interest rates steady last ⁠week, but ⁠three board members ⁠voted ​to drop the central

Investors will look for another batch of earnings reports and fresh employment data to drive a resilient U.S. stocks rally higher this week, in the face of spiking oil prices and ​a more hawkish Federal Reserve. Major U.S. stock indexes ended the week at record-high levels, following a sharp month-long rebound from concerns about economic fallout from the ‌Middle East war. A stellar season for corporate profits is underpinning bullishness for U.S. equities and countering othe

The Panorama digital command center in the headquarters of the state-owned Abu Dhabi National Oil Company, in Abu Dhabi, United Arab Emirates, Jan. 6, 2026. The United Arab Emirates announced plans to leave OPEC on April 28, 2026, after long complaining that the oil production cartel’s quotas had curtailed its oil exports in an unfair manner. (Natalie Naccache/The New York Times) By VIVIAN NEREIM and REBECCA F. ELLIOTT The United Arab Emirates dealt a major blow to some of th

U.S. stocks advanced on ⁠Thursday ⁠and the S&P 500 and the Nasdaq logged their ⁠biggest monthly gains in years as solid corporate earnings offset the war-related oil supply shock that has rattled ​markets and sent crude prices to four-year highs. But oil prices eased and economic data showed the U.S. economy continues to grow at a healthy pace, helping as investors ‌geopolitical tensions and close the book on a ‌month of solid gains. The rally gained momentum throughout the s

Wall Street moved lower ⁠on ⁠Wednesday, with spiking crude prices fanning inflation worries ⁠as the U.S. Federal Reserve left interest rates unchanged at the conclusion of what is likely to ​be its last monetary policy meeting under Chair Jerome Powell. The three major U.S. stock indexes gyrated lower after the Fed’s policy statement revealed the decision to hold rates ‌steady was its most divided since 1992, ‌along with uncertainties concerning rising energy prices due to tu

A Spirit Airlines flight taxis at LaGuardia Airport in New York, Jan. 26, 2026. Spirit is negotiating a loan of up to $500 million from the Trump administration. (Angelina Katsanis/The New York Times) By KAROUN DEMIRJIAN and LAUREN HIRSCH A trade group representing low-cost airlines said Monday that it was asking the Trump administration for $2.5 billion to offset some of the cost of fuel, which has surged because of the war with Iran. Jet fuel prices climbed to about $4.10 a

U.S. stocks closed lower on Tuesday, backing ⁠away ⁠from record closing highs as renewed concerns over the ⁠artificial intelligence boom weighed on technology stocks days before five of the sector’s most high-profile companies were due to post quarterly ​results. Semiconductor shares, which have surged over 40% so far this year, weighed particularly heavily on the Nasdaq, which suffered its biggest daily percentage loss in a month. OpenAI missed internal targets for weekly us