Business & Markets — June 19, 2026

Goldman cuts gold forecast by $500. Goldman Sachs strategists lowered their year-end gold target to $4,900 per troy ounce from $5,400, citing new Fed Chair Kevin Warsh's hawkish stance on inflation and rates.

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Intel gains 11% on Apple chip deal. Intel shares rose 11% Friday after President Trump announced Intel will manufacture chips for Apple in the U.S. Analysts called it a concrete foundry win -- though the deal may start small.

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SpaceX shares fall 7%, erasing $600 billion. SpaceX stock fell as much as 7% after a Cursor AI deal rattled investors, wiping roughly $600 billion in market value and leaving the average post-IPO buyer nearly underwater.

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Fed Chair Warsh signals possible 2026 rate hike. Less than four weeks into the role, Chair Kevin Warsh has outlined a hawkish policy overhaul, with several FOMC members now forecasting at least one rate increase before year-end.

Quartz · Read more →

U.S. gas prices dip below $4 a gallon. The national average fell just under $4 per gallon Thursday, the first time since March, following President Trump's agreement with Iran to dilute its enriched uranium stockpile.

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