Boeing crash, Trump cuts EV mandates, Oracle soars: Live Updates
President Trump slashed EV mandates, Boeing, GE Aerospace respond to the fatal Air India crash, producer prices eased and Oracle shares hit an all-time high. FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move.
Coverage for this event has ended.
Oil held at the $66 per barrel level after President Donald Trump on Thursday wouldn't say an attack by Israel on Iran was imminent, but warned it "could happen" as the U.S. continues to pressure Tehran on a nuclear deal, but simultaneously prepares evacuations from the Middle East.
| Symbol | Price | Change | %Change |
|---|---|---|---|
| USO | $74.94 | 0.13 | 0.17 |
| XOM | $109.68 | 0.37 | 0.33 |
| CVX | $144.77 | -0.01 | -0.01 |
| COP | $94.33 | 0.97 | 1.04 |
Traders work on the floor of the New York Stock Exchange in New York City. (Reuters)
Stocks closed higher on Thursday as investors weighed cooler-than-expected wholesale inflation data and tariff uncertainty.
The Dow Jones Industrial Average climbed 101.85 points, or 0.24%, while the S&P 500 and Nasdaq Composite are up 0.38% and 0.24%, respectively.
Boeing shares are weighing on the Dow in early trading. The aerospace giant's stock slid as much as 8% after an Air India flight operated on a 787 Dreamliner that was en route to London crashed shortly after takeoff.
As President Trump cut EV mandates for California, he also detailed when Tesla CEO Elon Musk knew about his plans and when his relationship with the world's richest man may have changed.
| Symbol | Price | Change | %Change |
|---|---|---|---|
| TSLA | $317.54 | -8.89 | -2.72 |
| GM | $49.30 | -0.56 | -1.13 |
| F | $10.52 | -0.14 | -1.36 |
| TM | $181.69 | -0.92 | -0.50 |
REUTERS/Robert Galbraith
Oracle shares touched a new all-time high, the first record close since November 2024, according to Dow Jones Market Data Group. It is also on pace for largest percent increase since December 10, 2021, when it rose 15.61%
The AI cloud computing giant beat Wall Street estimates in its latest quarter and also predicted next year's revenue will be stellar.
"“FY25 was a very good year—but we believe FY26 will be even better as our revenue growth rates will be dramatically higher,” said Oracle CEO, Safra Catz in the earnings release.
The move is making founder Larry Ellison even richer as he owns 40% of the company's stock - he is now bumped into the #2 spot on Forbes real-time billionaires list.
Amazon's $20 billion investment in the state of Pennsylvania is a game-changer according to Republican Senator David McCormick (R-PA) because it will transform the traditional sleepy coal state into a modern day powerhouse.
Microsoft shares are hitting a new all-time high and need to close at $472.75 per share to seal the latest milestone.
Getty Images
Federal Reserve Chairman Jerome Powell's term doesn't end until May 2026 but the rumor mill is churning over who President Trump might tap to replace him.
Trump has been vocal about his displeasure with the Fed Head, publicly calling on him to cut interest rates, most recently on Wednesday, following the latest consumer price inflation data.
"CPI JUST OUT. GREAT NUMBERS! FED SHOULD LOWER ONE FULL POINT. WOULD PAY MUCH LESS INTEREST ON DEBT COMING DUE. SO IMPORTANT!!!" Trump posted on Truth Social.
Shelby Knowles/Bloomberg via Getty Images
Meme stock GameStop saw its share sink by more than 18% Thursday following plans to engage a $1.75 convertible senior notes offering, according to a filing.
"GameStop intends to use the net proceeds from the offering for general corporate purposes, including making investments in a manner consistent with GameStop’s Investment Policy and potential acquisitions" the company said.
It's unclear what the proceeds might be, reports suggest the company could use the funds to buy more bitcoin, according to CNBC.
On May 28, 2025 the company disclosed it purchased 4,710 Bitcoin.
A Boeing 787 Air India crashed shortly after takeoff heading to London's Gatwick Airport with more than 200 souls onboard. Officials say there are likely no survivors.
"We are in contact with Air India regarding Flight 171 and stand ready to support them. Our thoughts are with the passengers, crew, first responders and all affected" Boeing said on X.
Shares fell sharply on the developments.
GE Aerospace, maker of the engines, said:
"We are deeply saddened by the loss of Air India Flight AI-171. We extend our heartfelt sympathies to the families and loved ones of those impacted. We have activated our emergency response team, and we are prepared to support our customer and the investigation" in an X post.
Live Coverage begins here