Chelsey Dulaney

Abundant reserves, alternative supplies and the AI boom helped mitigate the economic harm.

The specter of a prolonged crunch in energy supplies has faded, but the disruption could take months to unwind.

U.K. markets were little changed after U.K. Prime Minister Keir Starmer said he would step down following a rebellion in his Labour Party. The British pound was flat at $1.32. U.K. 10-year gilt yields rose by 1 basis point to 4.85%. The FTSE 100 was flat.Investors have been bracing for Star

Goldman Sachs now sees a smaller chance of a recession in the U.S. thanks to the peace agreement with Iran. The bank cut its 12-month recession odds to 15% from 25%, citing falling energy prices. It now sees an even lower chance of recession than it did before the war, when it put the odds at 20%.

Bank of America now expects the Federal Reserve to raise interest rates three times this year, the latest indication that Wall Street is preparing for a more aggressive Fed. The bank's economists previously expected the Fed to hold rates steady this year. It cited strong economic data and a hawkish

- Michael M. Santiago/Getty Images A rocky start to negotiations between the U.S. and Iran hasn't dented investors' hope for peace in the Middle East and a reopening of the Strait of Hormuz.

Tributes are pouring in for Alan Greenspan, the influential former Federal Reserve Chairman who died Monday at the age of 100. **Mohamed El

The Dow industrials climbed after the U.S. cleared the way for Iran to sell oil in dollars, including to American buyers. The Nasdaq and S&P fell.

People around the world are feeling the sticker-shock of higher prices, but recent inflation has taken a larger psychological toll on the continent.

Tourists and expats from even the hottest U.S. states are embarrassed to say they can’t handle the record-breaking temperatures.