Latest Market News Today on Fox Business

Ford recalls more than 255,000 Focus vehicles over engine stall risk

Fri, 12 Jun 2026 18:38:45 -0400

Ford announced a recall covering more than a quarter million Ford Focus vehicles over an issue that may cause the engine to stall unexpectedly.

The recall affects 255,404 Focus vehicles from the 2012-18 model years due to an issue with the canister purge valve (CPV). These vehicles were covered by a prior recall, but the correct software fix may not have been installed on the affected vehicles.

If the fix wasn't properly installed, the CPV may malfunction and stick open, with the powertrain control module (PCM) unable to adequately detect the stuck open CPV.

"A CPV that is stuck open during the evaporative leak monitor check can cause excessive vacuum in the fuel system of these vehicles. Excessive vacuum can result in deformation of the plastic fuel tank," the recall report said.

FORD ISSUES RECALL FOR MORE THAN 548,000 VEHICLES OVER ISSUE WITH CENTER CONSOLE

Affected vehicles may trigger a malfunction indicator light, or drivers may observe an inaccurate fuel gauge indication, inaccurate distance to empty and/or have drivability concerns.

Ford flagged a concern with the National Highway Transportation Safety Administration (NHTSA) that it found discrepancies that showed the software fix may not have been successfully applied to all vehicles.

MORE THAN 1 MILLION JEEP VEHICLES RECALLED OVER FIRE RISK AS OWNERS WARNED NOT TO PARK INSIDE

The company then identified the subset of affected vehicles and issued a recall earlier this month. Ford isn't aware of any reports of accidents or injury related to the issue.

Owners of affected vehicles will be notified by mail and instructed to take their vehicle to a Ford or Lincoln dealer to have the PCM updated, with software parts to be validated before the process concludes.

FORD RECALLS NEARLY 420,000 EXPEDITION AND LINCOLN NAVIGATOR SUVS OVER SEAT BELT LOCKING ISSUE

There will be no charge for the service.

Ford approved a reimbursement plan for owners who paid to have the issue fixed prior to the May 2023 safety recall, and owners who paid out of their own expense to have repairs completed may be eligible for reimbursement.

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How the historic SpaceX IPO is turning everyday workers into overnight millionaires

Fri, 12 Jun 2026 17:34:09 -0400

SpaceX's record-setting IPO is creating a financial windfall for thousands of the company's current and former employees who received stock as part of their compensation.

Workers who hold stock in non-public companies are subject to restrictions that can keep them from selling those shares under most circumstances before an IPO occurs. Once the stock goes public, it starts a timeline under which they can begin to sell some of those shares as so-called "lock-up periods" gradually allow employees to sell shares in tranches that expand over time.

The ranks of SpaceX workers who will see an influx of wealth as a result of the IPO include not only those who design the rockets and satellites that have made the company famous, but also baristas, janitors and other workers who helped keep the company running.

FOX Business spoke with workers outside of SpaceX's facility in Hawthorne, California, about their plans for the monumental IPO turning into a reality.

SPACEX MAKES HISTORIC DEBUT; MUSK SOLIDIFIES STATUS AS WORLD'S FIRST TRILLIONAIRE

One SpaceX employee, who said that he's a process planner, said that he wants to "try to stay healthy" and that the IPO is "a beautiful thing… I mean, Elon is the best. Go Elon!"

Another SpaceX employee said that, "I've been a millionaire for a while, but it's always nice to have money. It'll be great when the lock-up period is out, of course, and we can actually sell some of it and that'll feel a little more into the wealth, but it's a great day."

Juan Hernandez, who previously worked as a welder at SpaceX, told CBS News that when he was first hired by the company in 2015 he was offered $10,000 in stock. He explained that it "wasn't a big deal" to him at the time and, "I didn't know it was gonna be this big, at this point."

Hernandez, who now works at Blue Origin after a 10-year stint at SpaceX, told CBS that he has around 6,500 SpaceX shares that would represent a nearly $880,000 windfall based on the IPO listing price of $135 a share. He added that giving employees stock options encourages them to "perform a lot better because, I mean… it's their company as well."

He went on to tell the outlet that he wants to maintain a strong work ethic after the IPO and plans to keep working, and expressed gratitude to Musk for "making all these lives much better and meaningful for their families as well."

SPACEX SET A NEW RECORD FOR IPOS: THESE ARE THE WORLD'S 5 LARGEST

The Wall Street Journal reported that J. André Lavoie, a 63-year-old former SpaceX engineer who moved to Italy five years ago, has shares valued at over $28 million based on the IPO price. Lavoie plans to use the funds to renovate a hotel he purchased and is considering helping others in the community transition from heating their homes with burning wood to cleaner heating sources.

"I don't want to just die with a pile of money in the bank," Lavoie told the Journal. He added that the rise in the value of the shares has caused him to reconsider his plans. "Every year the shares have been going up so radically it keeps messing up my life plans."

The Journal also spoke with 27-year-old Maryellen Musselman, who joined SpaceX in 2022 and worked on a ship used in retrieving rocket parts from the company's launches that splashed down off the coast of Florida.

Musselman used 10% of her pay to purchase additional shares during the two years she worked at SpaceX and said that while she's unsure of how quickly she'll look to sell, saying it'll likely be "an 11th-hour decision."

SPACEX'S FIRST EMPLOYEE SAYS HISTORIC $1.7T IPO WILL BE 'LIFE-CHANGING' FOR THOUSANDS OF WORKERS

She wants to use the money to help her start a ship repair business in Chesapeake, Virginia, saying that, "Mariners are not usually stock owners in their companies, they're not always under benefits."

Tom Mueller, who was hired as SpaceX's first employee in 2002 and led projects including the Merlin Engine that powers the Falcon 9 rocket, the Raptor Engine that powers Starship and other key propulsion systems, told FOX Business' "The Claman Countdown" on Thursday that the IPO would be life-changing for employees.

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"Elon always said that 'Your salary is one thing, but it's the equity that's gonna be worth something.' And we are all like, 'Yeah, okay someday,'" Mueller said. "That day is here. It's great."

SpaceX set a new record for IPOs: These are the world's 5 largest

Fri, 12 Jun 2026 15:49:04 -0400

Elon Musk's SpaceX debuted on the public market on Friday, raising $75 billion in what was the largest IPO in history.

SpaceX's IPO more than doubled the previous IPO record and provides the company with capital to help finance what Musk explained on a pre-IPO livestream with JPMorgan Chase will be a "significant growth phase" as it ramps up the deployment of its Starlink communications satellites and looks to build artificial intelligence (AI) data centers in space.

The IPO is the first of several highly anticipated IPOs that are expected to occur later this year, with a pair of companies at the forefront of the AI boom – ChatGPT-maker OpenAI and Anthropic – taking steps toward a debut.

SPACEX MAKES HISTORIC DEBUT; MUSK SOLIDIFIES STATUS AS WORLD'S FIRST TRILLIONAIRE

It remains to be seen whether those looming IPOs will break the new record set by SpaceX, but here's a look at the four other IPOs that round out the list of the five largest in history:

Saudi Arabia's state-owned oil company went public in December 2019, with the deal initially raising $25.6 billion in capital after listing on the Saudi stock exchange.

That amount grew to about $29.4 billion after Saudi Aramco and its underwriters exercised an over-allotment option – also known as a greenshoe option – that allowed Aramco to issue more shares due to the high level of demand from investors.

ANTHROPIC FILES CONFIDENTIALLY FOR IPO

The China-based e-commerce giant Alibaba went public in September 2014 with a $21.8 billion capital raise, which ranked as the largest at the time.

As with the Saudi Aramco IPO, intense demand prompted Alibaba's underwriters to use an option to issue more shares that boosted the total amount raised to $25 billion. The company is listed on the New York Stock Exchange.

SPACEX'S FIRST EMPLOYEE SAYS HISTORIC $1.7T IPO WILL BE 'LIFE-CHANGING' FOR THOUSANDS OF WORKERS

Japan-based communications provider SoftBank debuted in December 2018 with a $21.3 billion IPO on the Tokyo Stock Exchange.

The company's parent, SoftBank Group, is a major tech investor around the world and has made notable investments in U.S. AI companies and chipmakers. SoftBank CEO Masayoshi Son said in December 2024 that his firm would invest $100 billion in the U.S. with the goal of creating 100,000 new jobs.

The 2010 IPO of the Agricultural Bank of China was the world's largest at the time, totaling an initial $20.8 billion – though that figure later grew to $22.1 billion when it issued more shares on exchanges in Hong Kong and Shanghai through a dual-listing.

The firm is one of the largest financial institutions in China in terms of assets and customers, serving as the primary bank for Chinese agricultural businesses.

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SpaceX makes historic debut; Musk solidifies status as world’s first trillionaire

Fri, 12 Jun 2026 11:47:29 -0400

Elon Musk's SpaceX began trading at $150 a share on Friday, above its listing price of $135 a share, making him the world's first-ever trillionaire following the IPO.

The rocket and satellite company raised a record $75 billion, valuing the company at about $1.8 trillion, pushing the value of Musk's stake in SpaceX to an estimated $690 billion. The company is trading on the Nasdaq under the ticker "SPCX" after pricing its IPO on Thursday.

Combined with his holdings in electric vehicle maker Tesla, as well as other investments and assets, Musk's net worth is now estimated at about $1.1 trillion.

SpaceX stock jumped after it began trading, rising to $168.75 a share before paring some of those gains to trade around $158 a share. It subsequently rebounded and reached a new high of $176.52, and closed at $160.95 per share.

OPENAI SIGNALS POTENTIAL STOCK MARKET DEBUT WHILE WEIGHING PRIVATE-COMPANY ADVANTAGES

Investor demand for SpaceX has been intense. Reuters reported this week that the company attracted more than $250 billion in orders, while Bloomberg News reported Thursday that retail investors alone submitted more than $70 billion in requests for shares.

The company is expected to allocate at least 20% of the offering to retail investors, according to Bloomberg — an unusually large portion for individual investors in a deal of this size.

FEDERAL JURY DELIVERS VERDICT ON MUSK'S LAWSUIT AGAINST OPENAI

SpaceX's IPO raised $75 billion and was the largest IPO in history, surpassing the $29 billion IPO of Saudi Aramco in 2019.

The IPO cemented Musk's status as the world's richest person, pushing the value of his holdings toward $1 trillion, a milestone no individual has previously reached.

Founded by Musk in 2002, SpaceX has grown into the world's largest space company and a dominant force in commercial launch services. The company pioneered reusable rocket technology, helping lower launch costs and reshape the economics of the space industry. It has also become a key contractor for NASA and the U.S. government through civil and national security missions.

ANTHROPIC FILES CONFIDENTIALLY FOR IPO

Starlink, SpaceX's satellite internet business, has emerged as a major growth engine, providing broadband connectivity to consumers, businesses and governments around the world. According to the company's IPO filing, Starlink generated the majority of SpaceX's $18.67 billion in revenue last year.

The public debut has long ranked among Wall Street's most anticipated offerings. SpaceX spent years as one of the world's most valuable private companies, with investors eager for an opportunity to buy shares in the business.

According to the IPO filing, SpaceX will maintain a dual-class share structure that leaves control firmly in Musk's hands. Class B shares will carry 10 votes each, while publicly traded Class A shares will carry one vote apiece. Musk is expected to retain roughly 85% of the company's voting power following the offering.

Some 4,400 current and former SpaceX employees also stand to become millionaires through stock compensation accumulated during their time at the company, according to The New York Times, citing an analysis by investment platform Hill.com.

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If shares trade above their offering price following Friday's debut, SpaceX's valuation could climb even higher, potentially pushing Musk's net worth beyond the trillion-dollar threshold while rewarding thousands of employees and investors who backed the company during its rise.

Reuters contributed to this report.

1 under-the-radar ETF to invest $1,000 in right now that's outperforming major indexes this year

Thu, 11 Jun 2026 13:14:15 -0400

When most people think of major stock market indexes, their minds go to the S&P 500, Nasdaq Composite, or Dow Jones because they're the "Big 3." One index that often flies under the radar is the Russell 2000, which tracks the smallest 2,000 companies in the Russell 3000 index.

The Russell 2000 is to small-cap stocks what the S&P 500 is to large-cap stocks, and so far this year, ETFs like the Vanguard Russell 2000 ETF have outperformed all of the "Big 3" indexes. If you have $1,000 available to invest, it could be a great addition to your portfolio for the long haul.

Investing in small-cap stocks – which are typically categorized as companies with market caps between $250 million and $2 billion – is generally a higher risk/reward trade-off than investing in larger companies.

ETF ASSETS ARE SURGING. HERE'S HOW THEY DIFFER FROM MUTUAL FUNDS

On one hand, their small sizes usually mean they're more susceptible to broader market and economic conditions (like interest rates) and are more volatile. On the other hand, their small size leaves much more room for growth. It doesn't always play out this way, but in theory, it's much easier to double a valuation from $500 million to $1 billion than from $500 billion to $1 trillion.

HOW ETFS CAN BE EFFECTIVE BUILDING BLOCKS FOR RETIREES

Small cap doesn't always mean a new, start-up-like company, either. It can be a well-established company operating in a niche. In either case, VTWO gives you access to 1,957 small-cap stocks from every major sector. It's a true one-stop shop for small-cap stocks.

Through market close on June 5, VTWO is up 13.2%, marking one of its best starts to a year in a while. And although its gains this year are impressive, it's important to zoom out and look at longer-term performance as well. Here is how VTWO has performed over the years compared to the "Big 3" indexes:

Source: YCharts. Table by author. Year-to-date returns based on market close on June 5.

ETFS VS MUTUAL FUNDS IN 2026: WHICH IS RIGHT FOR YOUR PORTFOLIO?

VTWO's underperformance over the years doesn't quite scream "invest in me," but its main goal is diversification and covering more ground, rather than having the bulk of your returns rely on a handful of tech giants like the "Magnificent Seven" stocks.

I wouldn't make VTWO the bulk of your portfolio (aim for less than 10%), but having some exposure is a great way to tap into growth potential while also setting your portfolio up to have a winner during times when small-cap stocks usually outperform the market (like now). If you think big tech is due for a pullback, now is a good time to add some of the little guys to your portfolio.

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Stefon Walters has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

GM letting some EV owners sell electricity back to the US power grid

Thu, 11 Jun 2026 07:00:43 -0400

General Motors on Tuesday announced it's releasing a software update that allows some electric vehicle (EV) owners to send power back to the electric grid.

The update allows owners of GM's vehicle-to-home energy system, which allows the EV to power the home during a blackout, the expanded capability of sending electricity to the power grid.

Owners of the system would be able to sell power from their vehicle back to utility providers at times when demand is high, with GM getting a portion of the proceeds. EVs are viewed as an untapped resource for balancing the electric grid to meet surging demand from AI data centers as well as extreme weather events.

GM said that it alone has over 250,000 bidirectional capable vehicles on U.S. roads at this time, while it will include the vehicle-to-grid technology in all planned future EVs.

AUTO INDUSTRY TRADE GROUP URGES FEDS TO SCRAP GAS TAX AND REPLACE IT WITH A VEHICLE WEIGHT FEE

It said that the quarter-million GM EVs that are capable of vehicle-to-grid energy transfers have the storage capacity to help power 120,000 homes for up to one week.

GM said it's actively testing vehicle-grid integration technology through a partnership with Pacific Gas and Electric Company (PG&E), and it expects that, by 2030, there will be over 52,000 GM EVs actively participating in grid-balancing protocols.

It's also conducting tests in Michigan with DTE Energy, using the homes of GM employees to grow reliable backup capacity in a way that suits the preferences of home and EV owners, which GM Energy Vice President Wade Sheffer said is a "win for customers, automakers and utilities."

INSIDE GM'S $242M PUSH TO REBUILD AMERICA'S SKILLED TRADES WORKFORCE

"Maintaining a safe, reliable, and affordable grid is paramount. This transition won't be easy, and we deeply respect the challenge of balancing day-to-day grid reliability with rapid innovation," Sheffer said in a letter, adding that the company sees three areas in which utilities, regulators and automakers can simplify the path forward.

Those include boosting the enrollment of customers in utility programs by GM and industry partners, educating them on EV grid support and the value in utility programs and rates, with best practices developed amid its ongoing regional pilot projects.

GM TAKES $7B HIT AFTER SHIFTING EV STRATEGY DUE TO SLOWING DEMAND

GM noted that consumers will be more motivated to participate when given clear and appropriate incentives, such as expanding localized, time-of-use tariffs, allowing EV owners to charge cost-effectively during energy surplus and receive appropriate compensation for supporting the grid during peak strain or times of need.

GM also said that streamlining paperwork, engineering reviews and utility interconnection processes to boost consumer confidence in being able to easily purchase and install a bidirectional charger.

"It's time for us to look at parking lots and driveways across our communities as a massive, distributed power asset waiting to be integrated. By working together, we can help secure an affordable, reliable, and resilient energy future for everyone," Sheffer's letter said.

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Reuters contributed to this report.

ETF assets are surging. Here's how they differ from mutual funds

Wed, 10 Jun 2026 15:58:48 -0400

Investors have a growing list of exchange-traded funds (ETFs) and mutual funds that they can choose from as they consider ways to structure their investment portfolios, though there are important differences between the two types of funds.

ETFs have grown rapidly as an investment category in recent years since they were developed in the early 1990s, with the total assets of the U.S.-listed ETF industry totaling about $13.5 trillion at the end of 2025 after increasing 30% year-over-year, according to the Institute of Business & Finance.

Mutual funds have been in existence for a little more than a century and the IBF's data shows that mutual funds had $31.4 trillion in net U.S. assets at the end of last year, which amounts to an annual increase of about 10%.

"ETFs and mutual funds are both designed to help investors pool their money to invest in a broad mix of stocks or bonds, offering the benefits of diversification and professional management," Kathy Kellert, head of index equity product at Vanguard, told FOX Business. "Many are index funds, where portfolio managers work to closely track a specific benchmark."

HOW ETFS CAN BE EFFECTIVE BUILDING BLOCKS FOR RETIREES

For investors considering the similarities and differences between ETFs and mutual funds as they weigh which may be the better fit for their portfolio, there are a number of factors they should take into account – including how they trade, tax efficiency and whether they're actively or passively managed.

"Ultimately, both ETFs and mutual funds can play an important role in a well-diversified, long-term investment strategy. The right choice depends on an investor's preferences around trading flexibility, tax considerations, and overall financial goals," Kellert said.

Vanguard's Kellert said that, "ETFs trade on an exchange throughout the day, like stock, with prices that update in real time. Mutual funds, by contrast, are priced only once daily after the market closes, and all investors receive that same end-of-day price."

Rizwan Hussain, senior investment portfolio strategist at Schwab Asset Management, told FOX Business that the price for an ETF is "reflecting the underlying portfolio holdings' prices, providing investors liquidity during the day."

"But when you buy or sell ETF shares, the price may be less than the net asset value (or NAV) of the ETF. This discrepancy (aka: the 'bid/ask spread') is often nominal, but for less actively traded ETFs, that might not always be the case," he said.

Hussain added that mutual folders are executed once per day with the price based on the net asset value (NAV) at market close.

ETFS VS MUTUAL FUNDS IN 2026: WHICH IS RIGHT FOR YOUR PORTFOLIO?

Kellert said that ETFs are generally more tax efficient than mutual funds because of how they trade and the mechanisms fund managers use to rebalance the ETF's holdings.

"Because ETF shares are typically exchanged between investors, and portfolio activities, like rebalances, are often handled 'in kind' – using securities rather than cash – ETFs are more likely to avoid realizing capital gains. Mutual funds, by contrast, may need to sell holdings to meet redemptions, which can generate gains that are distributed to all shareholders," she said.

Hussain noted that ETFs "can potentially generate fewer capital gains for investors since they may have lower turnover (particularly passive ETFs) and can use the in-kind creation/redemption process to manage the cost basis of their holdings."

He added that because of those distinctions, mutual funds have historically been more relevant for investors holding them in tax-deferred accounts.

WHAT ARE ACTIVE ETFS AND HOW ARE THEY RESHAPING HOW AMERICANS INVEST?

Data from the IBF shows that across ETFs and mutual funds, the amount of passively managed assets in U.S. funds was about $19.3 trillion at the end of December 2025, compared with about $17.4 trillion in actively managed funds.

"Most ETFs are passive investments pegged to the performance of a particular index ('passive'); however, 'active' ETFs have gained popularity over the last year in particular," Hussain said.

There are also distinctions between ETFs and mutual funds in terms of how frequently they disclose their portfolio holdings, with ETFs typically doing daily disclosures while mutual funds are at longer intervals which can be advantageous for managers of active mutual funds.

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"ETF managers are generally required to disclose fund holdings daily, whereas mutual funds disclose full portfolio holdings on a less frequent basis, typically monthly or quarterly. This later disclosure periodicity is typically a benefit to active mutual fund managers who are looking to avoid disclosing their strategy details to competitors," Hussain added.

Are you a new stock market investor in June 2026? Here's Warren Buffett's advice

Tue, 09 Jun 2026 10:09:34 -0400

Over the past 30 years, the S&P 500 index has generated a total return of 1,770% (as of June 5). That performance supports the view that the stock market is one of the best asset classes for growing your wealth. A starting sum of $10,000 in this benchmark in June 1996 would be worth $187,000 today. The gains have been even more remarkable over the past decade.

Understanding that this kind of performance can have a profound impact on your financial well-being, it might be time for new investors to direct some of their savings into the stock market. Given how daunting it might seem, it can be difficult to figure out where to even begin.

Here's where Warren Buffett comes into the picture. The great investor is also a wonderful educator whose advice is well worth considering. If you're new to the stock market this month, listen to the Oracle of Omaha's suggestion.

WARREN BUFFETT ERA ENDS AFTER 60 YEARS AS CEO WITH GREG ABEL TAKING OVER

Buffett is known for his exceptional capital allocation skills, having compounded Berkshire Hathaway's share price at a yearly clip of almost 20% for six decades before stepping down as CEO at the end of last year. But his advice for most investors is surprisingly simple. He basically recommends buying a low-cost S&P 500 index fund.

This perspective probably comes from the fact that the average person doesn't have the time, ability or desire to want to pick individual stocks and manage a portfolio. And it stems from the inability of expert fund managers to beat the market.

THIS SECTOR HAS DOMINATED ETF RETURNS SO FAR IN 2026

Active management strategies generally have a bad track record. Data shows that the vast majority of large-cap fund managers lose to the S&P 500 over the long term. Whether these professionals trade too often, charge high fees or just aren't adept portfolio managers, that is a very disappointing statistic. And it makes you wonder why more investors don't choose the passive route.

One of the best options is the Vanguard S&P 500 ETF. It comes with an extremely low expense ratio of 0.03%. Over several years and decades, investors will pay a significantly smaller amount than what active managers typically charge. The difference leaves more money in your pocket.

This ETF tracks the S&P 500 index, so its holdings match the benchmark. The top five holdings are Nvidia, Apple, Microsoft, Amazon and Alphabet, clearly showing a strong position within the information technology sector. Investors will certainly be exposed to all things related to artificial intelligence.

However, it's worth pointing out that this ETF contains all sectors of the economy. It's essentially a hassle-free method for gaining broad market exposure.

The S&P 500 index today trades at a historically expensive valuation, calling into question the benchmark's return potential. While the phenomenal trailing 10-year total return of 316% might not repeat, I think it still makes sense to invest in the stock market.

TAP INTO THE HUMANOID ROBOTICS BOOM WITH THIS ETF

Profit growth and margins are robust. And the companies leading the charge, some of which were mentioned already, are some of the most dominant businesses the world has ever seen, so they deserve the market's appreciation.

If the current valuation is a real concern for you, then consider adopting a dollar-cost averaging (DCA) strategy. By doing so, you could allocate fresh savings to the market on a monthly or quarterly basis, virtually eliminating the need to accurately assess what the correct starting valuation should be.

And even adding small sums of money to a DCA approach can lead to tremendous long-term results. Let's say you initially invest $10,000 into the Vanguard S&P 500 ETF. But then every single month, you invest $100. Assuming the historical 10% annualized total return holds true, you'd have $382,000 after 30 years. Of course, if you put more money to work, the ending figure will be larger.

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Neil Patel has positions in Vanguard S&P 500 ETF. The Motley Fool has positions in and recommends Alphabet, Amazon, Apple, Berkshire Hathaway, Microsoft, Nvidia and Vanguard S&P 500 ETF. The Motley Fool has a disclosure policy.

This sector has dominated ETF returns so far in 2026

Tue, 09 Jun 2026 08:24:40 -0400

So far this year, semiconductors and the physical infrastructure of artificial intelligence (AI) are dominating the exchange-traded fund (ETF) scene. For example, the iShares Semiconductor ETF is up 89% year to date. Given the intense interest – and investments – in AI, this makes sense.

Semiconductors and AI reinforce each other in a tight loop. AI depends on ever more sophisticated chips to run. Now, AI is changing how chips are designed and where they're manufactured. In short, AI is designed to perform tasks that normally require human intelligence, and semiconductors are the physical devices that enable it to do so.

TAP INTO THE HUMANOID ROBOTICS BOOM WITH THIS ETF

Driven by AI and data-center demand, the chip industry is in a powerful upcycle. With large cloud providers spending heavily on AI infrastructure, the entire semiconductor value chain is lifted. Greater demand for central processors, graphics processors, power management, memory and manufacturing equipment is like catnip to investors – so much so that semiconductor revenue reached $298.5 billion in the first quarter of 2026, up a staggering 25% from the fourth quarter of 2025.

As a passively managed ETF, the iShares Semiconductor ETF provides exposure to large-cap and mid-cap companies, primarily through U.S.-listed stocks. It tracks the NYSE Semiconductor Index and currently holds a concentrated basket of 30 stocks.

Top holdings include industry leaders such as Micron Technology, Advanced Micro Devices and Marvell Technology.

WHAT ARE ACTIVE ETFS AND HOW ARE THEY RESHAPING HOW AMERICANS INVEST?

With a reasonable expense ratio of 0.34%, or $34 per $10,000 invested annually, SOXX provides access to a narrowly focused group of sector-specific ETFs.

IDC's April forecast predicted that the semiconductor market will exceed the $1 trillion revenue threshold by the end of this year. However, investing in a semiconductor ETF is not the right move for everyone.

As an investor, it's vital to remember that anything could happen. For example, AI could lose popularity for any number of reasons, from hype fatigue to slower-than-expected adoption or constraints on power and data-center buildouts. Like all technology, semiconductor stocks and ETFs can be volatile, and there's no guarantee that they'll continue to thrive.

HOW ETFS CAN BE EFFECTIVE BUILDING BLOCKS FOR RETIREES

Before leaping, look past the current hype and make sure you've taken a close enough look under the hood to know precisely what you're buying. If you do choose to put money into a semiconductor ETF, it should be part of a well-diversified portfolio that you intend to hold for the long term.

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Dana George has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Advanced Micro Devices, Marvell Technology, Micron Technology and iShares Trust - iShares Semiconductor ETF. The Motley Fool has a disclosure policy.

OpenAI signals potential stock market debut while weighing private-company advantages

Mon, 08 Jun 2026 17:55:39 -0400

OpenAI said Monday it has taken a formal step toward a potential stock market debut, signaling that the artificial intelligence company is preparing for the possibility of becoming a publicly traded firm.

The move gives OpenAI flexibility to pursue an initial public offering in the future, though the company indicated no final decision has been made on whether or when shares would begin trading publicly.

"We recently submitted a confidential S-1. We expect it to leak so we're just announcing it," OpenAI said in a statement Monday. "We have not decided on timing yet; it may be a while because there are things we want to do that are likely easier as a private company. But it's a complicated set of tradeoffs and this gives us the option to go public sooner if that ends up being best."

The company added that the announcement does not constitute an offer to sell securities and that any future offering would be conducted in accordance with federal securities laws.

ANTHROPIC FILES CONFIDENTIALLY FOR IPO

A confidential S-1 filing allows companies to begin the IPO process with the Securities and Exchange Commission without immediately disclosing detailed financial information to the public. The filing is often viewed as an important milestone for companies considering a future public listing.

FOX Business previously reported that OpenAI was targeting a public offering as early as September and had been working with Goldman Sachs and Morgan Stanley on a draft IPO prospectus, according to a Reuters report at the time.

The Sam Altman-led company has emerged as one of the dominant forces in artificial intelligence following the launch of ChatGPT, helping ignite a wave of investment and competition across the technology sector.

BAY AREA BANKER WANTS TO SWAP HIS $8M ESTATE FOR AI COMPANY STOCK

OpenAI has since expanded its lineup of AI products for consumers and businesses while attracting billions of dollars in funding.

Reuters previously reported that OpenAI had been laying the groundwork for a public listing that could value the company at up to $1 trillion, underscoring the enormous investor appetite for AI-related businesses.

AI LEADERS ARGUE SOFTWARE WILL ADAPT – NOT DIE – BUT VALUATIONS ARE STRETCHED

The announcement comes as Wall Street closely watches the next generation of AI companies for signs they may enter public markets.

Earlier this month, rival Anthropic disclosed that it had confidentially filed for a U.S. initial public offering, potentially setting the stage for a high-profile race between two of the industry's biggest players.

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While OpenAI stressed that no timeline has been finalized, Monday's disclosure signals the company is keeping its options open as it weighs the benefits of remaining private against the opportunities that come with a public listing.

FOX Business’ Eric Revell and Reuters contributed to this report.

Convicted FTX founder Sam Bankman-Fried insists he's innocent in exclusive prison interview

Mon, 08 Jun 2026 13:25:38 -0400

Sam Bankman-Fried, the former cryptocurrency billionaire serving a 25-year sentence for fraud tied to the 2022 collapse of his FTX exchange, says he would welcome a pardon from President Donald Trump — but insists he has not lobbied the White House for one.

"It would be obviously, you know, ultimately up to the president, not up to me," Bankman-Fried told FOX Business in an exclusive interview from prison. Asked directly whether he wanted a pardon, he didn’t hesitate: "Absolutely."

The FTX founder said he has not personally been in contact with the White House or anyone connected to the president. Asked whether his parents or others had reached out on his behalf, he said, "I can’t speak for them."

FOX Business has reviewed a pardon application filed on Bankman-Fried’s behalf. As it stands, the application seeks clemency only after he finishes serving his sentence.

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The White House, asked for comment, directed FOX Business back to the president’s previous statements that he was not considering a pardon for Bankman-Fried.

More than three years after his arrest, Bankman-Fried continues to insist he is innocent. He is appealing his conviction, with a decision pending before the Second Circuit Court of Appeals.

"I didn’t steal user funds," he said. "Customers have been repaid now 170% or so on their deposits. It’s one of the very few cases where the platform was over-collateralized, where customers were more than made whole. And yet there was, you know, not just a criminal investigation, but a prosecution. And, you know, dozens of years of sentence."

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Those assertions require context. Bankman-Fried was convicted in 2023 on seven counts — including wire fraud and conspiracy to commit money laundering — for diverting billions of dollars in FTX customer funds, and was sentenced to 25 years in 2024.

The FTX bankruptcy estate has said customers are being repaid in full, with reported recoveries of roughly 118% and higher for some classes of claims. But those repayments were calculated using cryptocurrency prices from November 2022, when the market was near its lows. Customers received cash based on those depressed values rather than their original crypto, and did not capture the market’s subsequent rebound. The estate’s reported recovery figures are also lower than the 170% Bankman-Fried cited.

"Ultimately, customers have been repaid again nearly twice what they had on the platform, and it’s a great disservice to them that it has taken three years," he added.

The question of clemency has split those who followed the FTX collapse.

Adam Moskowitz, an attorney who represented FTX victims, told FOX Business he would not stand in the way. "I would not oppose granting Sam a pardon," he said, noting that as co-lead counsel for hundreds of thousands of FTX victims, "one of the first defendants to offer to help out victims was Mr. Bankman-Fried."

SAM BANKMAN-FRIED SAYS HE 'ABSOLUTELY' WANTS A PRESIDENTIAL PARDON FROM INSIDE HIS FEDERAL PRISON CELL

Others are firmly opposed. Sen. Bernie Moreno, R-Ohio, who sits on the Senate Banking Committee, told Politico that Bankman-Fried "shouldn’t be pardoned" and "should go to jail for a long, long time."

Bankman-Fried described a prison routine of reading, exercise and "other boring activities." "I’ve read a number of books since I’ve been in prison," he said. "You know, I exercise some. Obviously, there’s sleep, shower … daily things like that. And frankly, that’s the bulk of it."

He has also picked up an unlikely supporter. On his new album "Iceman," rapper Drake name-checks Bankman-Fried in a lyric that fans have read as a call to free the imprisoned founder.

Bankman-Fried said he was caught off guard. "I’m very flattered. I appreciate it very much," he said. "Obviously Drake gives some clues in the song itself, but … that’s a question. Unfortunately, I don’t know how to answer for him."

The two, Bankman-Fried said, have never met.

Hibbett Sports owner plans to close 175 underperforming stores in major North American reorganization

Mon, 08 Jun 2026 12:12:00 -0400

Hibbett Sports will close 175 stores around the U.S. over the next three years as its parent company, JD Sports, looks to reorganize its footprint.

JD Sports acquired Hibbett in 2024 in a deal valued at around $1.1 billion, with the acquisition viewed as enhancing JD's presence in the North American footwear market. Hibbett had 1,169 stores in 36 states as of May 2024, according to the press release for the deal.

Now, the company is moving to reduce its store count as part of a cost-cutting strategy.

JD Sports CEO Regis Schultz said on the company's fourth quarter earnings call that its "second key strategic initiative is driving store productivity and optimization of our store estate. Our net store movement last year was a reduction of 39 stores, demonstrating our fewer, bigger, and better store strategy."

"In North America, we will leverage group best practice to optimize EBIT store footprint and profitability. As part of this, we will close around 170 underperforming EBIT stores over the next three years," Schultz added.

JD said that at the start of its fiscal year in February 2025, there were 999 Hibbett stores and that figure declined to a total of 982 when its fiscal year ended in January 2026 as the group consolidated its operations after the Hibbett acquisition.

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JD's CFO Dominic Platt added that the group is planning to open about 20 new JD stores as well as converting between 70 to 80 Finish Line stores to JD locations in North America.

After factoring in JD Sports' plans in Europe, the group expects its total store count to "stay broadly flat for the year," Platt said.

JD Sports' stock is down about 1.7% year to date and is around 1.8% higher over the last year.

DICK'S SPORTING GOODS PLANS TO CLOSE SOME FOOT LOCKER STORES

The news comes as Hibbett's retail footwear rival, Foot Locker, announced store closure plans last November following its $2.4 billion acquisition by Dick's Sporting Goods in September 2025.

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The company didn't specify how many Foot Locker locations would close, though nine Dick's locations closed in 2025, along with about 11 Foot Locker-owned stores and four licensed stores.

Ford recalls nearly 420,000 Expedition and Lincoln Navigator SUVs over seat belt locking issue

Wed, 03 Jun 2026 16:07:31 -0400

Ford recently announced a recall affecting nearly 420,000 Ford Expedition and Lincoln Navigator sport utility vehicles (SUVs) over an issue with seat belts locking and potentially causing injury to occupants during a crash.

The auto recall covers 342,283 Ford Expedition vehicles from model years 2018 to 2022, as well as 77,684 Lincoln Navigators in the same model years.

The National Highway Transportation Safety Administration (NHTSA) recall report explains that the seat belt retractor pretensioners may inadvertently deploy on the driver and front passenger seat belts, causing them to be in a locked position and unable to retract or extend.

The issue is noticeable to occupants and could cause injuries in the result of a crash because the seat belt wouldn't retract or extend. The report notes that in some cases, the inadvertent deployment could injure occupants due to rapid seatbelt retraction.

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The problem is caused by the degradation of the propellant used in the retractor pretensioner, which can occur in high-heat environments that result in the oxidation of internal components and, over time, lead to the inadvertent deployment of the pretensioner.

Owners of affected vehicles may notice an airbag malfunction light illuminating on their instrument cluster before an inadvertent deployment of the seat belt retractor pretensioner.

FORD RECALLS OVER 179,000 BRONCO AND RANGER VEHICLES OVER SEAT DEFECT

Ford conducted a series of tests and investigations into the issue starting in January 2026 following two previous recalls related to seat belt pretensioners, leading to its decision in May to issue a field service action.

The automaker said it's aware of one injury globally that was related to this issue.

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Owners of vehicles covered by the recall will be notified by mail and take their vehicle to a Ford or Lincoln dealership to have both front seat belt retractors inspected and to replace retractors that fall within the suspect production date range in which they may have been produced with the legacy propellant and stabilizer.

The mailing of interim vehicle owner notification letters is expected to begin next week on June 8 and completed by June 12. Mailing of remedy owner notification letters is expected to begin on Aug. 31 and be completed by Sept. 4.

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Tap into the humanoid robotics boom with this ETF

Wed, 03 Jun 2026 11:26:53 -0400

Although the artificial intelligence (AI) investment thesis is still young, some investors are already eyeing the next big thing in tech. They don't have to look far, and the next big thing may actually be two things: humanoid robots and physical AI.

Fortunately, these aren't daunting concepts. As the name indicates, humanoid robots are modeled after us and designed to work alongside us, performing basic functions to enhance productivity. Those robots are part of the broader physical AI landscape, which also includes various autonomous systems such as self-driving vehicles and surgical robots.

Experienced investors know there are plenty of robotics stocks and a fair number of exchange-traded funds (ETFs) focused on this theme. Still, when it comes to an emphasis on humanoid robotics, the KraneShares Global Humanoid Robotics and Physical AI Index ETF is the ETF to consider.

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This robotics fund, which tracks the MerQube Global Humanoid and Embodied Intelligence index, is the first ETF of its kind to trade in the U.S., and it has a first-mover advantage. Investors like that, along with the fund's purity because it turns a year old on June 4 and already has $241 million in assets under management (AUM).

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Year-to-date inflows of $89 million bolster that tally, confirming that investors see opportunity with this next-generation tech ETF. Understandably, they feel that way because the KraneShares fund could reward long-term investors. Morgan Stanley estimates that the humanoid robotics market could be worth $5 trillion by 2050.

Perhaps underscoring the case for taking the long view with this ETF is the fact that humanoid robots are currently expensive. Still, prices are forecast to decline, which should spark increased adoption. Two years ago, one humanoid robot cost $200,000. That's the price of a house in some places; Morgan Stanley sees that price falling to $150,000 in 2028.

As investors already learned with "old guard" AI stocks, adoption trends and the emergence of more real-world uses are crucial to the humanoid robotics/physical AI theme. Stock-picking to that effect can be tricky even for highly seasoned investors, highlighting why some are embracing this ETF.

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It's worth noting that, at the sector level, robotics stocks span multiple sectors. Featuring exposure to four sectors, this ETF reflects this with tech and industrial stocks combining for about 78% of the portfolio.

It should also be acknowledged that humanoid robotics isn't a theme bound by geography, so this is a global ETF, not a domestic one. The 28% allocation to Chinese stocks, second only to U.S. equities, is important because China is the undisputed leader in AI-powered robotics, including humanoids. Of course, there are no guarantees that China will wear that crown permanently, highlighting the advantages of this fund's geographic diversity.

The KraneShares Global Humanoid Robotics ETF charges 0.69% per year, or $69 on a $10,000 investment. That's slightly above the 0.63% average on thematic ETFs.

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Todd Shriber has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Bank of America to hire nearly 4,000 summer interns and campus recruits

Wed, 03 Jun 2026 08:49:38 -0400

Bank of America on Wednesday announced that it will be hiring nearly 4,000 summer interns and full-time recruits from campuses this summer as the nation's second-largest bank looks to bring new talent into its workforce.

The firm said in a release that the hiring plans are reflective of Bank of America's deliberate and ongoing approach to recruiting high-performing talent from more than 500 colleges and universities to support the bank's clients and drive its long-term growth.

"Our approach to hiring is intentional and long term," said Sheri Bronstein, chief people officer at Bank of America.

"We focus on attracting the best talent with the right skills, potential, and a strong career mindset – and we invest in growing that talent through long-term careers that meet the needs of our clients and drive responsible growth," Bronstein added.

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Bank of America's announcement noted that the financial services provider remains committed to other previously-announced initiatives aimed at hiring entry-level workers.

The bank's military veteran program has resulted in over 20,000 hires to date, the bank said. It added that it is also continuing to hire from community colleges around the country and its other early career programs to meet the evolving needs of the firm's global client base.

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Last fall, Bank of America said that it aims to hire another 10,000 more individuals with military backgrounds over the next five years – adding to the more than 20,000 hires dating back to 2015 and raising the new goal to 30,000 from that time.

Its September 2025 announcement also said it planned to move forward with 8,000 new hires from community colleges over the next five years, doubling its annual hires from 800 to 1,600 in that period of time.

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Bank of America also said in September that it plans to invest in 700 jobs within its network of financial centers in new growth markets, including Alabama, Idaho, Louisiana and Wisconsin.

The jobs would support the opening of 26 financial centers over the next 18 months and 37 financial centers in those states in 2027.

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The company also announced Wednesday it has donated $2 million to purchase FIFA World Cup tickets for members of the U.S. military, veterans, first responders and their families to see games across the tournament for free.

Nissan recalls over 51K SUVs after software defect causes dashboard screens to fail

Tue, 02 Jun 2026 21:31:07 -0400

Nissan is recalling more than 51,000 Kicks SUVs because a software defect can cause the dashboard display to go partially or completely blank, potentially preventing drivers from seeing critical vehicle information.

The recall affects 51,598 model year 2025-2026 Nissan Kicks vehicles manufactured between June 24, 2024, and Jan. 9, 2026, according to documents filed with the National Highway Traffic Safety Administration.

Nissan said a software logic error within the vehicle's combination meter, or instrument cluster, can trigger a communication failure between electronic controllers during a cold startup. If that occurs, the display screen may show a partial image, a blue screen or go completely blank.

The malfunction can prevent warning lights, indicators and other safety-related information from appearing on the dashboard, causing the vehicles to fall out of compliance with Federal Motor Vehicle Safety Standard 101 governing vehicle controls and displays.

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"If the combi-meter display cannot show safety related telltales and indicators, the driver may unknowingly operate the vehicle in an unsafe condition, increasing the risk of a crash," Nissan said in its filing with federal regulators.

Nissan identified seven technical reports and 205 warranty claims related to the issue between October 2024 and April 2026, though the company said it is not aware of any crashes or injuries connected to the defect.

The automaker said it first became aware of the issue after receiving a field report involving a 2025 Nissan Kicks with a blank display screen at startup. Although technicians initially could not duplicate the problem, diagnostic trouble codes related to the instrument cluster and communication systems were stored in the vehicle.

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Over the following months, Nissan and supplier Continental investigated additional reports involving intermittent blank or blue-screen displays. Engineers ultimately traced the issue to an integrated-circuit malfunction that can disrupt communication within the instrument cluster, causing the display to go blank.

The recall affects one of Nissan's newer U.S. models and comes as automakers continue to grapple with software-related defects that have become an increasingly common source of vehicle recalls.

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To fix the problem, dealers will update the combination meter software at no cost to owners. The repair is expected to take about 30 minutes.

Dealer notifications began May 22, while owner notification letters are scheduled to be mailed beginning July 1. Vehicle owners can contact Nissan customer service at 800-647-7261 and reference recall number PMA66.

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FOX Business has reached out to Nissan for additional comment on the matter.

McDonald’s unveils new growth strategy to win back customers

Mon, 01 Jun 2026 17:32:54 -0400

McDonald's announced on Monday that it's rolling out a new corporate strategy that aims to make its stores easier to run for franchisees.

The announcement, called "McDonald's > NEXT," focuses on increasing automation, raising standards for hospitality, leaning on social media for marketing and making its food items taste better.

It comes as the fast food giant tries to hold on to lower-income consumers who've cut back on restaurant visits amid years of elevated prices.

McDonald's CEO Chris Kempczinski outlined the new strategy in a message sent to the McDonald's System and said that it aims to "unlock our next phase of growth and productivity, by bringing in more customers more often and improving unit economics."

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"NEXT is the what. Our shared destination. You'll write the how, with your own path shaped by your market, your customers, and your crew," Kempczinski wrote.

McDonald's chief restaurant experience executive Jill McDonald said in a statement that the new strategy will make its restaurants "easier to run and more enjoyable to visit."

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The restaurant chain's last corporate strategy overhaul came in 2020 and was called "Accelerating the Arches," and focused in part on digital sales and increased marketing.

The share of U.S. customers who said the chain offers good value fell from 55% to roughly 40% between 2020 and 2024, and has largely remained there since, according to surveys from UBS Evidence Labs shared with Reuters last month.

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Kempczinski's message noted that as customers' experiences become increasingly automated, there's less opportunity for connection between guests and the crew at McDonald's franchises. He explained that with "fewer interactions, the bar for hospitality that makes people feel seen, welcomed, and valued only goes up."

"Customers also depend on us for compelling, predictable value, and even more so with unprecedented inflation," the CEO wrote. "While perceptions of our value have rebounded in most markets, it's a reminder that we need to earn, and re-earn, each and every visit."

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McDonald's shares were down more than 1% on Monday and are down more than 9% year to date.

Reuters contributed to this report.

Jensen Huang says Nvidia's new RTX Spark chip will reinvent the PC

Mon, 01 Jun 2026 17:25:53 -0400

Nvidia on Monday unveiled a new chip that will bring artificial intelligence (AI) capabilities onto laptops and desktop computers.

The new AI chip, known as RTX Spark, was built as part of a collaboration between Nvidia and Microsoft to make personal computers that are built to power AI tools.

"The PC is being reinvented," said Nvidia CEO Jensen Huang. "For 40 years, you launched apps. Click. Type. With RTX Spark and Microsoft Windows, you ask – and the PC does the work."

"RTX Spark brings everything NVIDIA has built – CUDA, RTX, our AI platform – into a single superchip. Local agents. Frontier models. Creative workflows. RTX games. All on a laptop," Huang added. "This is the new PC. The personal AI computer."

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Nvidia's new chip was developed with Taiwan's MediaTek and is set to debut this fall in laptops and compact desktops from Dell, HP, Lenovo, ASUS, Microsoft Surface and MCI.

Models from Acer and GIGABYTE that contain the chip are expected to follow.

Industry experts said the processor would overhaul engagement with AI, as it is designed to run autonomous AI agents locally rather than relying solely on cloud computing.

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Nvidia has dominated chips used to train AI models, and is now turning its attention to an anticipated uptick in demand for inference processors, which are chips that power AI responses to user queries and the agents built to handle routine tasks.

The move into PCs represents a bet on Nvidia's scale and AI expertise to open a large new market that has become increasingly competitive and raised concerns among investors.

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Reception for AI PCs has been mixed so far. HP reported last week the devices helped prop up quarterly sales, but Dell said earlier this year that demand had fallen short of initial expectations. Qualcomm, looking to capitalize on AI demand, has also been offering AI PCs with Microsoft.

"The RTX Spark looks to transform the traditional app-centric PC to a real useful Agentic AI personal computer which will eventually be in every home in coming years as private edge AI agents become pivotal," said Neil Shah, Counterpoint Research co-founder. "This is going to be the 'RTX Spark' moment for the personal computing segment like how iPhone, ChatGPT or DeepSeek have been."

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Nvidia stock rose about 5.5% during Monday's trading session following the news.

Reuters contributed to this report.

Anthropic files confidentially for IPO

Mon, 01 Jun 2026 15:12:30 -0400

Artificial intelligence (AI) giant Anthropic said on Monday it had confidentially filed for its U.S. initial public offering, as the AI heavyweight looks to beat archrival OpenAI to the IPO market.

The much-awaited IPO comes as Elon Musk's SpaceX is expected to launch its roadshow on June 4, with the rocket and satellite maker likely to target raising about $75 billion at a valuation of roughly $1.75 trillion.

Wall Street is betting 2026 could be a breakout year for the U.S. IPO market, underpinned by a strong pipeline of high-profile private companies and pent-up demand for new listings.

Goldman Sachs predicted earlier this year that proceeds from U.S. IPOs could vault to a record $160 billion in 2026, should the marquee names go public this year.

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Here is an overview of some of the mega IPOs expected in 2026:

AI heavyweight Anthropic revealed it had confidentially filed for a U.S. initial public offering, setting the stage for what could become a watershed moment for Wall Street's AI frenzy.

Anthropic, which operates AI chatbot Claude, last raised $65 billion at a post-money valuation of $965 billion in late May, putting it ahead of rival OpenAI.

The company said in a post on its website that the move "gives us the option to go public after the SEC completes its review. The proposed initial public offering will depend on market conditions and other factors."

Anthropic added that it hasn't set the number of shares to be offered and the share price yet.

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Elon Musk's SpaceX filed publicly for its hotly anticipated U.S. initial public offering last month, moving the firm closer to what could be the biggest stock market flotation ever.

SpaceX has accelerated its ⁠IPO timeline, with a roadshow launch targeted for June 4 and the share sale as early as June 11, Reuters reported last week, citing people familiar with the matter.

In February, SpaceX acquired Musk's artificial intelligence startup xAI in a record-setting deal, unifying his AI and space ambitions by combining the company with the maker of the Grok chatbot.

If SpaceX raises $75 billion, it would be the world's largest IPO, eclipsing oil major Saudi Aramco's 2019 listing.

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ChatGPT-maker OpenAI is preparing to confidentially file for a U.S. initial public offering and aiming for a speedy IPO, Reuters reported last month, citing a source familiar with the matter.

OpenAI is targeting going public as early as September and is working with Goldman Sachs and Morgan Stanley on a draft IPO prospectus that it plans to file with the regulators soon, Reuters reported at the time.

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The ⁠Sam Altman-led company was laying the groundwork to go public in an offering that could value it at up to $1 trillion, Reuters reported in October.

Reuters contributed to this report.

Jamie Dimon calls Coinbase CEO 'full of s--t,' vows to fight crypto-friendly bill in Congress

Mon, 01 Jun 2026 13:16:57 -0400

JPMorgan Chase Chairman and CEO Jamie Dimon issued an unfiltered, aggressive warning against a new crypto-friendly bill moving through Congress while also targeting Coinbase CEO Brian Armstrong's multimillion-dollar lobbying push.

In a wide-ranging interview with FOX Business’ Maria Bartiromo on Friday, Dimon was asked for his thoughts on the CLARITY Act, which aims to establish clear regulatory guidelines in the U.S. for digital assets and stablecoins.

Dimon then rejected Coinbase's messaging that its lobbying represents broad consumer interests, promising an all-out industry "fight" on Capitol Hill.

"We'll fight it. If we lose, we lose and we'll live," Dimon said. "But it will be fought… No one's going to bow down to this guy, OK? Or that company… And he's spending hundreds of millions of dollars… He’s full of s--t."

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"Just be fair. If he takes deposits like a bank, he should have bank rules. We have social requirements, litigation, legal liquidity requirements, capital requirements, AML requirements, financial reporting requirements, transparency requirements," he continued. "If he wants to be a bank, be a bank. That's all it is."

Dimon argued that if crypto platforms want to act like banks and take customer deposits, they must play by the exact same rules.

"And they're not FDIC-insured. We have requirements to build branches in lower-income neighborhoods… We have like 84 regulators all over us. We're just saying it should be fair and equal, period. Not that they can't do what they want to do," Dimon said. "If you want to buy cryptocurrency, be my guest. You know, I believe it's a free country, and I defend that right. But we just want it to be fair."

When asked if he’s "happy" with the legislative language of the CLARITY Act, Dimon responded: "No, because it allows them to effectively pay interest on deposits, stablecoins or something like that, without the protection that they should have… it has almost no legal protections. So no, the banks will not accept it that way."

In a statement to Fox News Digital, Coinbase chief policy officer Faryar Shirzsad said, "At the end of the day, we all share the same goal: improving the financial lives of Americans. Millions of Americans believe this includes preserving rewards programs and passing clear rules that protect consumers while keeping America at the forefront of financial innovation. It’s time for the Senate to bring the CLARITY Act to the floor."

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The CEO of America's largest bank also warned that decentralized crypto networks risk becoming a preferred pipeline for cartels and human traffickers if Washington doesn't enforce strict oversight.

"I do think it will be used for cross-border payments, small dollar payments, you know, for person-to-person [transactions]," Dimon said. "Remember, once that money's in a wallet overseas, it could be in anyone's wallet. And it goes to a third wallet, a fourth wallet. So the first one may be legitimate, [the] second one may be a sex trafficker. So, you know, it's complicated and the government needs to do it thoughtfully. If they don't do it thoughtfully… it'll be a huge problem."

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United flight returns midair after Bluetooth device name reportedly sparks security scare

Sun, 31 May 2026 18:16:02 -0400

A United Airlines flight bound for Spain returned to Newark Liberty International Airport on Saturday night after a potential security concern prompted the aircraft to turn around over the Atlantic Ocean.

United Flight 236 departed Newark en route to Palma de Mallorca, Spain, but reversed course about 90 minutes into the trip and landed back in New Jersey later that evening.

A spokesperson for United Airlines told FOX Business there were 190 passengers and 12 crew members aboard the Boeing 767 aircraft.

"United flight 236 from Newark to Palma De Mallorca, Spain safely returned to Newark to address a potential security concern," the airline said in a statement. "The flight continued to Palma De Mallorca with a new crew."

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AirLive.net reported that the incident began after flight attendants instructed passengers to disable their Bluetooth connections. Passengers later said the crew repeatedly warned that the request came from United's operations center and that the flight could not continue unless the issue was resolved.

One passenger told the outlet that crew members made several announcements regarding a potential safety concern linked to a Bluetooth device and eventually issued a final warning before the aircraft changed course.

The warnings reportedly became increasingly urgent as crew members attempted to identify the source of the device. Passengers cited by the publication said flight attendants indicated the issue had been escalated and that the aircraft could be forced to return if the matter remained unresolved.

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Air traffic control communications reviewed by AirLive.net indicated the aircraft returned to Newark after concerns arose about the name of a Bluetooth-enabled device visible to others onboard.

The outlet reported that the device's discoverable name included the word "bomb," which led to a security response and the flight's eventual return to Newark.

The flight crew ultimately decided to discontinue the trip and return to Newark rather than continue across the Atlantic with the issue unresolved, according to the report.

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After the aircraft landed safely, law enforcement officers and security personnel met the plane. Passengers were removed while authorities conducted a security inspection.

Travelers were permitted to take only limited personal items with them as they exited the aircraft, according to the report. Passengers were later rescreened before boarding a replacement flight, while the aircraft and checked luggage underwent additional security screening.

Passengers were transported around the airport while security personnel inspected the aircraft, according to the report.

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United has not publicly identified the passenger connected to the device or announced whether any charges or penalties are being considered.

FOX Business has reached out to the Port Authority of New York and New Jersey for additional information about the incident.

Costco says its gas stations set all-time volume records as consumers seek lower-priced fuel

Fri, 29 May 2026 13:31:07 -0400

Costco's gas stations saw a surge in demand in the most recent quarter as consumers sought out its low-priced gasoline, which helped the company top the market expectations for its third-quarter sales.

Costco CEO Ron Vachris noted the "backdrop of ongoing macro uncertainty" has consumers searching out affordable options given the pressure on household budgets, which helped attract members to its gas stations.

"Nowhere has this been more apparent in the third quarter than our gas business. As events in the Middle East have had a significant impact on product supply and gas prices, our focus, as always, is to be there for our members by staying in stock and offering the best value," Vachris said.

"The result was record-breaking volumes, all three four-week fiscal periods of the quarter set successive all-time company volume sales records, with the final five weeks for the quarter becoming our top five volume weeks ever," he said.

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Vachris commended the Costco team's work managing the deliveries necessary to meet demand, "which requires multiple daily gas deliveries to many locations."

Energy markets were upended by the Iran war, which sent gas prices surging above $4 a gallon around the country as global oil supplies were constrained by the closure of the Strait of Hormuz, which sent crude prices above $100 a barrel.

AMERICANS LEAN ON CREDIT CARDS AND BUY NOW, PAY LATER AS GAS PRICES EAT BIGGER SHARE OF INCOME

The latest AAA data shows the national average price for a gallon of regular gasoline was $4.39 on Friday, up about 38% from the average of $3.17 a gallon a year ago.

Vachris noted that the low-cost gasoline offered at Costco stations helped attract new members and customers into stores, driving more sales momentum for the wholesale club in the future.

GAS PRICE SURGE HITTING LOW-INCOME HOUSEHOLDS HARDEST, FED STUDY FINDS

"The high consumer price sensitivity, which fueled these record volumes, also drove many members to use our gas stations for the very first time in the third quarter. We believe this will drive even greater loyalty with these members in the future as members who use our gas stations typically spend more with us in the warehouse," he said.

Costco CFO Gary Millerchip added that Costco's volumes of gas sales allowed the company to widen its price gap with higher-cost stations, adding that the company knows "that's something that's very high on our members' minds."

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Reuters contributed to this report.

How ETFs can be effective building blocks for retirees

Fri, 29 May 2026 10:07:31 -0400

Americans who are retired or are approaching retirement and are evaluating their investment portfolios can turn to exchange-traded funds (ETFs) that may offer built-in diversification for core holdings or exposure to specific sectors.

ETFs are securities that typically track indexes and allow investors to get exposure to a number of companies included in the index. For example, an ETF that tracks the S&P 500 allows an investor to purchase a single share of the ETF that holds shares in all 500 companies in the index, making it easy to get exposure to a broad swath of companies.

Other types of ETFs may focus on providing investors with yield from dividends or bonds, classifications of companies like growth or value-oriented firms, specific sectors of the economy. Some may be actively managed to maximize returns, which typically entails higher expense ratios, while many ETFs are passively managed, which can involve lower expenses.

Retirees considering investing in ETFs will want to consider their risk tolerance, along with the diversification of a given ETF, its expense ratios, trading volumes and liquidity, as well as other factors like tax efficiency as they weigh an investment.

WHAT ARE ACTIVE ETFS AND HOW ARE THEY RESHAPING HOW AMERICANS INVEST?

"In retirement, simplicity and discipline often matter more than complexity and ETFs can help deliver both when used thoughtfully," Carole Okigbo, global head of ETF capital markets and broker and index relations at Vanguard, told FOX Business.

"Retirees should start with their goals, including how much income they need, their time horizon, and their comfort level with market swings. ETFs can be very effective building blocks, but it's important to focus on total return, not just yield, and ensure each investment plays a clear role in supporting long-term retirement income needs," Okigbo added.

US ETF ASSETS UNDER MANAGEMENT TO MORE THAN DOUBLE TO $25T BY 2030, CITIGROUP SAYS

Inga Rachwald, senior investment strategist at Schwab Asset Management, told FOX Business that "the selection of highly liquid ETFs would be of high importance to a retiree so that they have the ease of accessing their money when needed."

"Many ETFs track broad asset classes or indices so you get the benefit of diversification. Potential tax efficiency is another likely important component for retirees," Rachwald added.

IS BUYING A SINGLE INDEX ETF SMARTER THAN PICKING INDIVIDUAL STOCKS?

Schwab's Rachwald cited several examples of ETFs offered by her firm, such as SCHD provides dividend income and focuses on companies that grow their dividends.

"SCHZ could serve as the core of a fixed income portfolio, providing high quality income with intermediate duration exposure. SCCR is an alternative to SCHZ if investors would like to source an active strategy in the high-quality, intermediate duration core bond space," Rachwald said.

"SCHI would similarly provide some incremental yield coming from investment grade corporates who have bolstered balance sheets through the economic cycle," she added.

Vanguard's Okigbo noted similarly that her firm's ETF offerings include broad market ETFs as well as bond ETFs that can serve as core components of a retirement portfolio.

"Many retirees benefit from starting with low-cost, broadly-diversified ETFs like Vanguard Total Stock Market (VTI) and Vanguard Core Bond (VCRB) and building from there," Okigbo said.

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This 'lazy' ETF could be the single easiest way to invest your money

Wed, 27 May 2026 17:17:56 -0400

As a parent, one thing I often try to emphasize to my kids is the importance of hard work. Study a little bit for a test, and you might walk away with a 95. Study harder, and you could score 100 instead.

I'm also no stranger to hard work. There's a reason I spend 40 or more hours a week at my desk as a freelance writer when I could probably get away with working less. I'm a big fan of the payoff.

But when it comes to investing, I happen to think it's OK to be a little lazy.

While some investors spend hours each week poring over their portfolios and choosing stocks to meet their long-term and retirement savings goals, others may prefer a more hands-off approach. And I think it's totally fine to find a lazy person's ETF, or exchange-traded fund, that you can put money into regularly and call it a day.

ETFS VS MUTUAL FUNDS IN 2026: WHICH IS RIGHT FOR YOUR PORTFOLIO?

There's one ETF in particular that I'm a fan of for this approach. And if your goal is to grow your money without having to put in a lot of effort, you may want to add it to your portfolio.

The Vanguard Total Stock Market ETF is ideal for lazy investing because it offers broad market exposure in a single fund. As the name implies, when you buy shares of the Vanguard Total Stock Market ETF, you're effectively investing in thousands of U.S. companies across a range of industries and market caps.

The latter point is important. Exposure to large-, mid- and small-cap stocks is crucial because each category plays a different role in a diversified portfolio.

Large-cap companies are typically well-established businesses with a proven model. Some may be poised for steady growth, while others may have a long history of paying and increasing dividends. These companies can offer the benefit of consistency and may hold up better during periods of market volatility.

WHAT ARE ACTIVE ETFS AND HOW ARE THEY RESHAPING HOW AMERICANS INVEST?

Mid-cap stocks, meanwhile, are usually companies that are still growing but have reasonably established businesses. They can offer a nice balance between stability and growth potential.

Finally, small-cap stocks tend to be less established companies. That can be a mixed bag. Small-cap stocks can carry more risk, but they also offer a lot of growth potential.

A portfolio of only small-cap stocks can be risky. But a portfolio that also includes mid- and large-cap stocks provides balance.

With the Vanguard Total Stock Market ETF, you don't have to rack your brain trying to come up with the ideal allocation across large-, mid- and small-cap stocks. The fund itself does it for you. And if you stick with it for the long haul, you're likely to come away with strong returns.

A BEGINNER-FRIENDLY ETF PORTFOLIO THAT REQUIRES ALMOST NO MAINTENANCE AND DELIVERS LONG-TERM RESULTS

Over the past 10 years, the Vanguard Total Stock Market ETF has generated a roughly 295% return. And the cost of this super-easy strategy is a mere 0.03% expense ratio, which is pocket change compared to the average 0.72% expense ratio found across similar funds.

You might think investing in the Vanguard Total Stock Market ETF is taking the easy way out. Well, it is. And if your goal as an investor is to beat the market, then this isn't the way to do it.

But if you're happy with the idea of having your portfolio mimic the broad market's returns, there's nothing wrong with bypassing the stress of choosing stocks individually and falling back on a broad market ETF instead. And there's perhaps no fund that better fits that bill than the Vanguard Total Stock Market ETF, especially if your goal is to combine simplicity with the safeguards that come with having a diversified portfolio.

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Maurie Backman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

BP ousts chairman over ‘serious’ governance concerns as shares tumble

Tue, 26 May 2026 11:29:22 -0400

BP abruptly removed Chairman Albert Manifold on Tuesday, citing "serious concerns" tied to governance, oversight and conduct issues, sending shares lower and deepening uncertainty at the oil giant.

The company said Manifold, who had served as chairman for just eight months, was removed effective immediately after the board unanimously concluded he should no longer remain in the role.

"This follows serious concerns raised to the board related to important governance standards, oversight and conduct," BP said in a statement, without providing additional details.

The surprise ouster rattled investors. BP shares plunged nearly 10% in London trading and were briefly halted before recovering some losses. The broader European energy sector was down less than 1%.

HIGH ENERGY PRICES RISK KEEPING INFLATION ABOVE 2% TARGET, CONCERNING FED POLICYMAKERS

The shake-up lands at a critical moment for BP, which has struggled with investor confidence, lagging stock performance and questions about its long-term strategy.

Manifold was brought in last October to help oversee BP’s pivot back toward oil and gas production after years of aggressive climate-focused messaging and renewable energy investments that frustrated some shareholders.

The former CRH chief executive, who had no prior energy industry experience, had support from activist hedge fund Elliott Management, which has built a roughly 5% stake in BP and pushed for stronger financial performance.

Manifold also helped install current CEO Meg O’Neill, the former Woodside Energy chief, as BP’s fifth CEO since 2020.

BP has been plagued by executive instability in recent years. Former CEO Bernard Looney was fired in 2023 after admitting he misled the board about relationships with colleagues. His successor, Murray Auchincloss, exited abruptly in December.

The repeated management upheaval has fueled persistent speculation that BP could eventually become a takeover target or face pressure to break itself apart.

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The latest boardroom drama also comes as major oil companies increasingly prioritize shareholder returns and fossil fuel production over costly green-energy expansion plans amid pressure from investors demanding higher profits and stronger stock performance.

Reuters contributed to this report.