U.S. stock investors brushed off any concerns from the Iran war to send major indexes to their best quarter since 2020.
The big picture: Stocks rebounded after a bruising first quarter.
In the second quarter, the S&P 500 index rose nearly 15%, the Nasdaq Composite jumped more than 21%, and the Dow Jones Industrial Average increased nearly 13%.
It's been just over a year since Japan's Nippon Steel bought U.S. Steel, after agreeing to invest $11 billion into the Pittsburgh-based icon by the end of 2028.
Thus far, almost all of that money remains a promise.
Anthropic is releasing Claude Sonnet 5, a lower-priced model designed to bring more agentic AI capabilities to everyday users without the same cyber-risk profile as its most powerful systems.
Why it matters: The company says Sonnet 5 can handle autonomous tasks — including browser use, planning, coding and knowledge work — while posing fewer dangerous cyber risks than its Opus and Mythos models.
Pinterest has hired Snap Inc. and Fox Corp. communications veteran Julie Henderson as its new vice president and chief communications officer, executives told Axios.
Why it matters: She is one of several new senior leaders CEO Bill Ready has hired to help usher in a new phase of growth in the AI era.
Comcast's split has been a long time coming. And the streaming era made it impossible to put the move off much longer.
Why it matters: Comcast's two core businesses — connectivity and entertainment — have become less synergistic, making it hard for investors to value the company as a whole.
OverDrive, parent company of digital reading app Libby, has named former ViacomCBS Digital CEO Marc DeBevoise as its new chief executive to power its next phase of growth.
Why it matters: OverDrive is already one of the largest content marketplaces in the world, but DeBevoise thinks the business has ample room to expand if it applies a consumer growth playbook to its enterprise business.
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As businesses grow, company and employee spending can become increasingly complex to manage and affect agility and decision-making.
A pricey new deal to sponsor the Golden State Warriors' jersey patch could help IREN — a little-known Australia-based cloud provider — increase its reach.
Why it matters: The deal reflects a mutual courtship between an AI infrastructure provider and a sports franchise eager to tie itself to the Bay Area's booming AI economy.
The Supreme Court this term gave President Trump powers over the federal government that no modern president has held. But it blocked his administration on two of the biggest issues for markets: the Fed and tariffs.
Why it matters: Its rulings hand the president firmer command of the federal bureaucracy, signaling to businesses that regulatory policy will be less stable — and more political — with every election.
But the cases preserve limits around the Fed and emergency tariff powers, where investors feared political interference could unsettle markets.
Data: Instacart; Note: Analysis determines the potato chip brand with the largest gap between its share of orders in each state and its national share from June 30-July 6, 2025; Data from select retailers removed from certain states as legally required; Map: Sami Sparber/Axios
America's food loyalties run deep — right down to the chips at your Independence Day BBQ.
State of play: New Instacart data shows the most uniquely popular potato chip brands by state, based on last year's July Fourth orders.
As he tries to hammer out a peace deal with Iran, President Trump has a dovish adviser in Vice President Vance perched on one figurative shoulder — and a hawkish Secretary of State Marco Rubio on the other.
Why it matters: The success of the talks — and therefore the health of global oil markets — greatly depends on how well Trump deploys each man to balance competing interests in Iran, Israel and Lebanon.
