Anna Hirtenstein

NEWSPLUS All eyes are on Disney where one of the costliest proxy battles of all time is coming to a head. Chief Executive Bob Iger —who is also steering a major corporate turnaround—is trying to fend off Nelson Peltz’s Trian Partners, which is seeking two board seats.

U.S. stocks rose, shaking off earlier weakness, after new data suggested the economy is gradually cooling and Jerome Powell said the Federal Reserve still sees room for rate cuts this year.

U.S. stocks were higher after Federal Reserve Chair Jerome Powell said the central bank still sees room for rate cuts this year.

The S&P 500 and Nasdaq ended slightly higher after Federal Reserve Chair Jerome Powell said the central bank still sees room for rate cuts this year. The Dow industrials edged lower.

↘️ **Vertex Pharmaceuticals (VRTX)**: The biotech firm agreed to acquire **Alpine Immune Sciences (ALPN)** for $4.9 billion to bolster its kidney-disease portfolio. In off-hours trading, Alpine's shares soared over 35% and Vertex's fell 2%, respectively.

Stock futures were lower ahead of producer-price index data and European Central Bank rate decision..

NEWSPLUS Markets remain on edge, with another inflation gauge in the spotlight. Stock futures are down and benchmark Treasury yields are a little higher, above 4.57%. The producer-price index is out this morning, after Wednesday’s hotter-than-expected consumer-price data shook markets.

NEWSPLUS Producer prices weren’t so hot after all, a measure of relief for markets on edge about inflation. The latest wholesale price data, out early Thursday, came in slightly lower than expected. The S&P 500 opened faintly higher, though the 10-year Treasury remained above 4.

NEWSPLUS Producer prices weren’t so hot after all, offering a measure of relief to markets on edge about inflation. The latest wholesale price data, out early Thursday, came in slightly lower than economists surveyed by the Journal expected.

Supercooled gas has quickly become one of the world's most important energy sources—and a geopolitical flashpoint.