Joe Rennison

Stock investors are betting that inflation and high interest rates won’t be a persistent problem. But their convictions are being tested

Bond investors are betting on inflation and interest rates staying high for a long time. Stock investors are betting that won’t be a persistent problem, but their convictions are being tested.

The president said on social media that Iran must agree to concessions he has demanded, and that he was poised to lift the naval blockade of the Strait of Hormuz. Iran has not confirmed any commitments.

An unconfirmed report said Iran would stop participating in negotiations with Washington. In Lebanon, Israel issued an evacuation order for the capital’s southern outskirts, a stronghold of Iran-backed Hezbollah.

Some analysts said the main international oil price, which was up 6 percent on Monday, could climb much higher in the coming weeks if the Strait of Hormuz doesn’t reopen.

The U.S.-brokered deal depends on Hezbollah halting its attacks first. But the leader of the Iran-backed group rejected those terms, and Israel said that its offensive would continue.

Hezbollah’s leader said the Iran-backed group, which was not included in U.S.-brokered talks, had rejected a deal worked out between Israel and the Lebanese government.

Unemployment remained steady at 4.3 percent.

Consumer prices rose at a faster rate for a third-straight month in May, to 4.2 percent annually, as the energy shock put more pressure on the U.S. economy.

In the race to dominate the artificial intelligence industry, companies like SpaceX and Alphabet are borrowing cash and raising equity from investors at the fastest pace in decades.