Last Update

Dow jumps 643 points in broad rally, Twitter-Musk deal latest: LIVE UPDATES

FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move.


incoming update…

Coverage for this event has ended.

Charles Payne: Investors who bought Kellogg ahead of the weekend scored big

FOX Business host Charles Payne provides insight on the Kellogg stock and on investing in the stock market on 'Making Money.'

Posted by FOX Business Team
Breaking News

Dow jumps 643 points, S&P, Nasdaq up 2%+ in broad stock rally

Dow Jones Averages.

Investors dove back into U.S. equities after the long holiday weekend pushing the three major averages higher by 2%+. All 11 of the S&P’s largest sectors rallied led by consumer discretionary and staple names, as well as energy which jumped 5%. Materials rose the least up 1.4%. In commodities, oil closed at $110.65 per barrel. 

Posted by FOX Business Team

Uber brings back Pool option in certain cities

Uber announced Tuesday that shared rides will be available again in cities across the country. 

UberX Share, formerly known as "Uber Pool," will be an option for riders in the cities of New York, Los Angeles, Chicago, San Francisco, Phoenix, San Diego, Portland, Indianapolis and Pittsburgh.


Posted by FOX Business Team

Digital asset leaders meet as crypto faces reckoning

FOX Business’ Susan Li and Pantera founder Dan Morehead discuss the crypto market at the Consensus Conference in Austin, Texas.

Posted by FOX Business Team

The race for Spirit Airlines: JetBlue, Frontier jockey for win

JetBlue Airlines upped its offer for the highly desired Spirit Airlines Monday to $33.50 per share in cash in an attempt to knock the Frontier deal completely off the table. 

JetBlue's latest bid is $2 per share more than its prior offer on June 6, and 50 cents higher than its original bid in April to acquire all the outstanding common stock of Spirit Airlines Inc. Spirit’s board opposed JetBlue's original offer earlier this year, saying antitrust regulators would never allow it.

However, in its revised Monday proposal, JetBlue said it strengthened its commitment to divestitures needed to satisfy regulators but won’t drop a controversial partnership with American Airlines in the northeast U.S.

SAVE $21.28+0.44+2.11%

Posted by FOX Business Team

Montana gov. on Yellowstone partially reopening: Don't want to create an economic disaster

Montana Gov. Greg Gianforte discusses Yellowstone partially reopening, his whereabouts when the unprecedented flooding took place and the rebuilding process.

Posted by FOX Business Team

Home sale prices reach record highs in May

SitusAMC managing director and former Fannie May executive Tim Rood assesses the housing market's response to inflation.

Posted by FOX Business Team

Current bear market will be more than 'one day wonder': Expert

Crossmark chief investment officer Bob Doll argues the stock market is in a 'bottoming process.'

Posted by FOX Business Team
Breaking News

Stocks in rebound mode

U.S. stocks jumped across the board as investors returned from the long weekend and were greeted with a basket of deal news. Twitter’s board is recommending that shareholders vote in favor of Elon Musk’s $54.20 per share offer and Kellogg is splitting into three food businesses. In commodities, oil rose to the $110 per gallon level.  

Posted by FOX Business Team
Breaking News

Twitter tells shareholders to vote yes on Musk offer

Twitter Inc.

Elon Musk's $54.20 per offer for Twitter is fair the Board disclosed.

"Twitter’s Board of Directors, after considering the factors more fully described in the enclosed proxy statement, unanimously: (1) determined that the merger agreement is advisable and the merger and the other transactions contemplated by the merger agreement are fair to, advisable and in the best interests of Twitter and its stockholders; and (2) adopted and approved the merger agreement, the merger and the other transactions contemplated by the merger agreement" the filing explained.

Posted by FOX Business Team
Breaking News

Kellogg to split into 3 separate companies


Kellogg Co. announced on Tuesday it will split into three independent businesses.

The companies, whose names will be determined at a later date, will include "Global Snacking Co.," "North America Cereal Co.," and "Plant Co."

"These businesses all have significant standalone potential, and an enhanced focus will enable them to better direct their resources toward their distinct strategic priorities," Kellogg CEO Steve Cahillane said in a statement.

Posted by FOX Business Team

Crypto higher heading into Tuesday morning

Cryptocurrency was trading higher early Tuesday morning with Bitcoin, Ethereum and Dogecoin all making solid gains.

Bitcoin, which was trading at around $19,000 over the weekend, currently is trading at $21,230 (+2.7%), up $607, at 4:45 a.m. Tuesday. It is down for the week by 8.08% and down for the month more than 29.25%.

Ethererum is trading at approximately $1,160 (+2.44%), or up $27.65 per coin. It is down for the week by 5.66% and down for the month by more than 42%.

Dogecoin is trading at $0.0622 (+3.12%), up $0.0017. It is up for the week by nearly 13%, but down for the month by nearly 28%.

Posted by FOX Business Team

US stocks edge higher after three-day holiday weekend

Symbol PriceChange%Change

U.S. stocks were higher early Tuesday morning as markets will reopen in a few hours after the three-day Juneteenth holiday weekend.

The S&P 500 and Dow Jones Industrial Average on Friday wrapped up their worst weeks since 2020, with the major indexes extending whipsaw moves that have injected fresh volatility into markets. 

The S&P 500 rose 8.07 points for the day, or 0.2%, to 3674.84, while the Nasdaq Composite gained 152.25 points, or 1.4%, to 10798.35. The Dow fell 38.29 points, or 0.1%, to 29888.78.

All three finished the week with sharp losses. The S&P 500 fell 5.8% for the week, its largest decline since the COVID-19 pandemic roiled markets in March 2020. The Dow fell 4.8% for the week, its biggest drop since October 2020. 

The once-hot crypto market also had a crazy week, reinforcing investors' concerns that there is nowhere to hide from the current market turmoil. One of the largest crypto lending platforms, Celsius Network LLC, told customers on Sunday it was pausing all withdrawals.

The anxiety spread quickly throughout the sector all week. Meanwhile, Asian markets Asian stocks rebounded. Tokyo, Hong Kong and Sydney gained. Shanghai declined. The Nikkei 225 in Tokyo added 1.8% to 26,246.31 while the Shanghai Composite Index lost 0.8% to 3,288.12.

Hong Kong's Hang Seng advanced 1.2% to 21,420.76. The Kospi in Seoul was 0.7% higher at 2,407.62 and Sydney's S&P-ASX 200 rose 1.3% to 6,514.80. India's Sensex opened up 1.7% at 52,460.17. New Zealand and Southeast Asian markets gained. 

Investors worry efforts by U.S. and European central banks to cool inflation that is running at a four-decade high might derail global economic growth. 

Japan and China, two of the three biggest economies, have avoided joining in rate hikes.

On Monday, China's central bank left its benchmark rates unchanged. The Bank of Japan stuck to its policy of near-zero interest rates last week despite concern that is weakening the yen's exchange rate.

Click here for more.

Posted by Associated Press

Gas prices fall again overnight

The average price for a gallon of gasoline slipped again on Tuesday, remaining below the $5 threshold for a fourth straight day, according to AAA. 

Gas reached $5 a gallon more than a week ago. 

The price of a gallon of gaoline declined to $4.968, according to AAA.

The price on Monday fell to $4.981. That follows a drop on Sunday to $4.983.

A week ago, a gallon of gasoline sold nationally for $5.016, while a month ago, the national average was $4.593. One year ago, a gallon of gasoline sold nationally for $3.071. 

Meanwhile, diesel dropped incrementally to $5.812 on Tuesday, down from $5.815 on Monday.

One week ago, diesel was selling for $5.775 per gallon, while a month ago, the national average was $5.564. One year ago, the national average for a gallon of diesel was $3.225, AAA reported. 

Posted by FOX Business Team

Oil prices climb on market caution over tight supply


Oil prices rose on Tuesday, clawing back more of last week's losses as investors focused on tight supplies of crude and fuel products rather than concerns about a recession dampening demand going forward. 

Brent crude futures rose 81 cents, or 0.7%, to $114.94 a barrel at 0703 GMT, adding to a 0.9% gain on Monday. The benchmark contract fell 7.3% last week in its first weekly fall in five. 

U.S. West Texas Intermediate (WTI) crude futures for July, which expire later on Tuesday, rose to $111.19 a barrel, up $1.63, or 1.5%, from Friday's close. There was no settlement on Monday, which was a U.S. public holiday.

WTI dropped 9.2% last week. The more-active WTI contract for August was up $1.84 at $109.83 a barrel. 

"Supply concerns are likely to persist in the coming months as OPEC+ countries, the world's major oil producers, may not have enough spare capacity... The summer travelling season and China easing its COVID-19 restrictions will push demand to grow further," said Leona Liu, analyst at Singapore-based DailyFX. 

"Although recession fears have increasingly become a headwind for oil prices, it is estimated that we still have at least half a year to go before a real recession." 

Analysts said that prices have been supported by supply anxiety after sanctions on oil shipments from Russia, the world's second-largest oil exporter, after its invasion of Ukraine and questions over how Russian output might fall due to sanctions on equipment needed for production. 

"Supply concerns are unlikely to subside unless there is a resolution to the Russia-Ukraine war, or unless we see a sharp rise in supply from either U.S. or OPEC," said Madhavi Mehta, commodity research analyst at Kotak Securities. 

Click here for more.

Posted by Reuters

Live Coverage begins here