•Circle's stablecoin USDC fell 8% after Stripe, Coinbase, and BlackRock backed Open Standard's Open USD, a rival stablecoin network that allows partners to keep reserve income and eliminates minting fees.
•The Swiss KOF Economic Barometer rose from 98.6 to 101.2 in June, beating expectations of 99.4 and its long-term average of 100, driven by improvement in manufacturing.
•Iran's president calls Trump's comments 'unreasonable boasting and unfounded threats,' stating understanding is mutual if the US adheres to the MOU.
•Iranian and American negotiating teams both travel to Doha this week, but Tehran insists no direct talks are planned.
•Missile and drone exchanges occurred over the weekend, with the US bombing Iranian military facilities and Iran striking American sites in Kuwait and Bahrain.
•Taiwanese authorities escalated a probe into the unauthorized diversion of advanced AI servers made by Super Micro Computer, part of efforts to crack down on alleged smuggling of Nvidia chips to China.
•MarketWatch reported that Morgan Stanley analysts cut their oil-price forecasts for this year and next, citing the Strait of Hormuz reopening faster than expected.
•Crude oil stocks in the US Strategic Petroleum Reserve fell by 5.5 million barrels to 325.7 million barrels, the lowest level since May 1983, according to Department of Energy data.
•Cleveland Fed President Beth Hammack said that 'insatiable' demand for AI infrastructure is fueling inflation and may require higher interest rates to bring inflation back to target.
•Four sources told Reuters that the unexpectedly rapid retreat in energy prices in the past week has further taken pressure off ECB policymakers to lift interest rates next month, but the case for a small hike later on remains firm.
•Medicare will start covering obesity drugs for the first time starting Wednesday through a temporary program called Bridge with a copay of $50 per month.
•Danish biotechnology company Genmab and partner AbbVie announced a drug combination for lymphoma met the primary endpoint in a late-stage clinical trial.
•Wall Street analysts maintain a bullish outlook on Constellation Energy with a mean price target of $360, implying a 39% upside from its current $259.
•Q1 adjusted EPS beat estimates, with full-year guidance remaining strong, bolstered by the Calpine acquisition and potential regulatory advancements for nuclear and gas capacity.
•About $2.3 trillion was wiped off the Magnificent 7's market value in June 2026 as investors grew jittery over massive AI spending and delayed returns.
•The FDA will allow 20 Philip Morris-owned Zyn nicotine pouch products to carry a modified-risk claim saying switching from cigarettes lowers the risk of several smoking-related diseases.
•The New England Journal of Medicine retracted a pivotal clinical trial paper on Amgen's Tavneos drug after FDA findings of altered patient data and unblinding of some researchers.
•Hong Kong-listed Metis TechBio granted U.S.-based Boulevard Bio exclusive global rights to develop, manufacture and commercialize its experimental autoimmune drug MTS-128 in a deal worth up to $1.6 billion.
•Phase 3 EPCORE DLBCL-4 trial showed epcoritamab combination reduced disease progression risk by up to 60% in relapsed/refractory DLBCL.
•Genmab announced positive Phase 3 results for epcoritamab plus lenalidomide demonstrating statistically significant improvement in progression-free survival.
•AeroVironment reported higher fourth-quarter profit as revenue more than doubled to $641.6 million from $275.1 million a year earlier, driven by higher product sales and service revenue.
•The U.S. Securities and Exchange Commission (SEC) has opened a public comment period to consider overhauling rules for novel ETFs, including those related to cryptocurrencies.
