Bonds & Stocks
A selloff in high-flying chipmakers dragged down stocks, with Broadcom Inc.’s underwhelming outlook testing the artificial-intelligence trade that has powered the market from war-driven lows. The S&P 500 fell 0.2%. The yield on 10-year Treasuries declined three basis points to 4.46%.
Economy
The number of Americans filing for jobless aid hit their highest level in four months last week, but layoffs remain historically low despite ongoing economic uncertainty brought on by the war in Iran. U.S. applications for unemployment benefits for the week ending May 30 increased by 13,000 to 225,000.
World
Iran said there had been no recent progress in talks with the US over an interim peace deal, while fighting persisted in Lebanon despite Washington’s declaration of a ceasefire between Israel and the country.