- U.S. consumer confidence weakened in June. Big banks passed the Federal Reserve’s annual stress test. The PCE inflation report came in as expected.
- Apple was hit by the first charges under new European tech law. Also, the EU charged Microsoft with antitrust violations.
- Nvidia’s market cap briefly slipped below $3 trillion. Chipotle’s stock split 50-for-1. Amazon announced the dates of Prime Day, and its market cap topped $2 trillion. Walgreens announced store closures. Nokia said it intends to acquire Infinera.
- FedEx shares surged, while Micron and Nike retreated, after quarterly reports. Airbus cut its 2024 profit forecast.
- Volkswagen said it would invest up to $5 billion in Rivian. Canada considered tariffs on Chinese EVs. Ford and Tesla recalled pickups. A cyberattack disrupted thousands of car dealers.
- Novo Nordisk revealed its plan to build $4 billion plant in North Carolina to make Ozempic, Wegovy. Canned coffee was recalled over toxin concerns.
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