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By Chris Isidore, CNN (CNN) — Even before Iran announced Saturday that the Strait of Hormuz was again closed, ship operators had pulled back on sailings through the critical channel. Twenty-five ships traveled through the critical channel on Thursday, according to data from marine intelligence firm Kpler. However, lead oil analyst Matt Smith told CNN

By Elisabeth Buchwald, CNN (CNN) — For generations, Americans have viewed hard work, education and career advancement as the primary paths to getting ahead. But with the ever-growing cost of living, more Americans may be finding that the traditional formula is no longer enough. To bridge the gap, they are looking to their parents and

By John Towfighi, CNN New York (CNN) — The agreement to re-open the Strait of Hormuz has been met with swift relief in markets. But some traders worry the rally in stocks and drop in oil prices might be overdone. WTI, the US oil benchmark, settled at $76.60 a barrel Thursday, down almost 10% on

By Matt Egan, CNN Washington (CNN) — The diplomatic breakthrough between Washington and Tehran is a potential gamechanger for Iran’s war-battered economy, former Trump energy secretary Dan Brouillette told CNN in an exclusive interview. The 14-point framework agreement, signed by President Donald Trump this week, delivers an immediate lifeline to Iran by allowing the OPEC

By David Goldman, CNN (CNN) — The good news: The Strait of Hormuz is open again, after Iran and the United States signed a memorandum of understanding this week. The bad news: It may be too late. Oil hasn’t been coming out of the Middle East for nearly four months. All told, the world lost

By Samantha Delouya, CNN (CNN) — Americans shopping for a home caught a break this week when mortgage rates edged lower. The average 30-year fixed mortgage rate fell to 6.47% this week, down from 6.52% last week, which was near the year’s high, according to data released Thursday by Freddie Mac. But the reprieve may

By Jordan Valinsky, CNN New York (CNN) — President Donald Trump said Thursday that Intel has struck a deal with Apple to start producing computer chips in the United States. “I decided to help Intel because we need to design and build our Chips right here in America,” Trump wrote in a social media post

By Chris Isidore, CNN (CNN) — American gas stations are now charging less than $4 for a gallon of regular gas, dropping below that benchmark for the first time since March 30. The US national average dropped to $3.999 per gallon on Thursday, according to AAA, down nearly 3 cents from the day before. Indiana

By Jeanne Sahadi, CNN (CNN) — The Federal Reserve may have a new chairman in Kevin Warsh, but it still has to balance its old dual mandate: Lower rates to boost the economy when the labor market is struggling, or raise rates to cool economic activity when inflation is considered too high. Well, the job

By Bryan Mena, CNN Washington (CNN) — Federal Reserve Chairman Kevin Warsh has promised “regime change.” On Wednesday, after leading his first policy meeting, he made it clear he is serious. Under the new Fed chairman, officials voted Wednesday to hold interest rates steady for the fourth consecutive meeting, leaving their benchmark lending rate at

By Matt Egan, CNN (CNN) — A pair of Senate Democrats are calling for the Trump administration to abandon efforts to build a West Coast emergency oil reserve. In a letter dated Wednesday to Energy Secretary Chris Wright, Sens. Alex Padilla and Patty Murray warn that establishing a West Coast Strategic Petroleum Reserve this fiscal

By Brian Stelter, CNN (CNN) — The New York Knicks’ first championship-clinching win since the 1970s set a ratings record dating back to the 1990s. Saturday night’s Game 5 telecast averaged 24.5 million viewers, making it the most-watched NBA Finals Game 5 since 1998, according to Nielsen ratings figures that were released Tuesday afternoon. Of

By Brian Stelter, CNN (CNN) — Vice President JD Vance is trying to be everywhere this week, appearing on Fox News, CNN, NBC and other networks as he promotes a new memoir in preparation for the 2028 presidential campaign. But of all his appearances thus far, his visit to ABC’s “The View” was unique. It

By David Goldman, CNN (CNN) — SpaceX is now bigger than Microsoft. Its shares are more popular than every other stock on the market, combined. And it just bought an AI company for $60 billion. Today is just SpaceX’s second full day of public trading. The latest splash in its history-making debut is SpaceX’s long-sought

By Matt Egan, CNN New York (CNN) — Kevin Warsh’s dream of becoming Federal Reserve chairman was nearly tarnished by the specter of having to confront simultaneous and conflicting challenges brewing in the US economy. In January, when President Donald Trump nominated Warsh for the top job, the labor market had just wrapped up one

By Chris Isidore, CNN (CNN) — President Donald Trump says the vital Strait of Hormuz has been reopened under terms of an agreement reached Sunday with Iran. Shipping industry sources aren’t so sure. “Ships are starting to move, many loaded up with Oil, out of the Strait of Hormuz,” Trump posted Monday on social media.

By Matt Egan, CNN (CNN) — The amount of oil in the US Strategic Petroleum Reserve plunged last week to the lowest level since 1983 as the Trump administration continues to deploy emergency oil to minimize the damage from the war with Iran. According to federal data released Monday, US officials released another 8.9 million

By Jordan Valinsky, CNN New York (CNN) — Fox is acquiring Roku, the popular streaming TV platform, in a massive $22 billion deal, the companies announced Monday. The transaction makes Fox a much more competitive streaming player, combining Fox’s sports, news and entertainment shows, as well its free Tubi streaming service, with Roku’s devices and

By John Towfighi, CNN (CNN) — SpaceX, Elon Musk’s massive space-exploration-slash-AI company, went public last week in a record-breaking IPO. But even if you’re not buying yet, you could still see the company’s stock in your 401(k) soon via a number of avenues. And if you’re on the other side and want to avoid shares