The CEO of Menzies Aviation, the world's largest airport services company, warned Monday that jet fuel prices are likely to stay elevated for several more months, even with the news of a US-Iran deal. "I'm pretty confident that they will remain high for a number of months," CEO Philipp Joeinig said to Bloomberg, referencing jet fuel prices. "It will be challenging from a cost perspective, from an inflation perspective."
A reopening of the Strait of Hormuz that was announced by President Donald Trump drove up shares of the companies most affected by higher oil prices. Shares of United Airlines jumped 3%, while shares of Delta Air Lines gained 1.5%. Shares of Royal Caribbean Group and Carnival Corporation rose more than 4% and 3%, respectively.
Vice President JD Vance said Monday that he expects the U.S.-Iran deal will open the Strait of Hormuz without a toll system for the long term.
“Our expectation is that the strait is going to be opened in a toll-free way for the long term, and that’s the sort of thing that we’re going to figure out in these technical negotiations,” Vance told CNBC in an interview
Factory activity in the New York area slowed more than expected for June, the regional Federal Reserve reported Monday. The New York Fed’s Empire State Manufacturing Index slipped to 5.7 for the month, a decrease of nearly 14 points from May and below the Dow Jones consensus estimate for 13.9. The index represents the percentage difference between companies reporting growth and contraction.
New orders and shipments both saw sharp declines, while the prices index remained elevated and the employment measure edged higher.
Traws Pharma shares slid 17% in premarket trading after the UK Medicines and Healthcare Products Regulatory Agency (MHRA) postponed a mid-stage clinical trial for its influenza treatment candidate, tivoxavir marboxil. The delay follows a previous U.S. FDA clinical hold due to safety concerns involving mutagenicity, a chemical’s potential to cause genetic mutations. Human challenge studies, which expose participants to viruses under controlled conditions, were central to the trial. Traws Pharma is now focusing on alternative drug candidates without mutagenicity risks. Investors face increased uncertainty over the drug’s development timeline amid these regulatory challenges from both the UK and U.S. authorities.
Brand Engagement Network Inc. has been selected for inclusion in the Russell 3000® and Russell 2000 Indexes, effective June 26, 2026. This annual index reconstitution ranks U.S. stocks by market capitalization, adding BEN to indexes tracking the largest 3,000 and 2,000 companies. BEN provides secure AI solutions for regulated sectors such as healthcare and finance, focusing on privacy and compliance. The Russell indexes cover approximately 98% of the investable U.S. equity market and benchmark around $12.2 trillion in assets, making inclusion a key milestone. CEO Tyler Luck highlighted the enhanced visibility this brings the company within the investment community, while emphasizing continued focus on delivering AI-powered engagement solutions for customers and shareholders.
Michigan’s average gas price edged up to about $4.18 per gallon on Monday, according to AAA, marking a slight increase from last week’s $4.15 but remaining below last month’s $4.88. Prices remain significantly above last year’s $3.09 average. In Lansing-East Lansing, gas prices showed mixed signals, rising to $4.14 from $3.94 last week despite previous reports of declines. Marquette reported the lowest state average at around $4.00, while Ann Arbor and Metro Detroit stayed at the high end, near $4.26. The national average was lower at $4.07, trending down as summer travel started. Michigan prices remain more than $1 higher than a year ago, reflecting ongoing regional cost pressures.
UK stocks edged higher on Monday, supported by improved global risk sentiment following a preliminary peace agreement between the United States and Iran. The news led to a fall in oil prices, which often react to geopolitical tensions in the Middle East. The easing of conflict concerns boosted investor confidence in risk assets, contributing to the positive market movement in the UK.
Gold rose after the US and Iran announced an interim deal to end hostilities and reopen the Strait of Hormuz, easing global inflation fears and potentially tempering expectations for interest-rate hikes.
Bullion jumped as much as 2.7% to above $4,330 an ounce after US President Donald Trump said on social media that "The Deal with the Islamic Republic of Iran is now complete." Iran's deputy foreign minister confirmed the agreement, which will be signed on Friday in Switzerland. The precious metal had fallen 2.5% last week.
Inflation worries kept investors cautious even as bonds and stocks rallied on Monday after a US-Iran interim deal eased nerves, with market participants warning that the conflict's economic fallout remains unresolved, according to Bloomberg reports.
The MSCI Asia Pacific Index climbed as much as 3.2%, while Brent crude, 10-Year Treasury yields, and the dollar declined. Yet, strategists at KCM Trade, Pepperstone Group Ltd., and Stifel Nicolaus said the agreement is more likely to create a short-term trading opportunity than mark the start of a longer-term rally.
Stock futures are rising early Monday (June 15, 2026) to kick off the holiday-shortened trading week after President Donald Trump announced that an agreement had been reached to end the war between the U.S. and Iran. Trump said late Sunday on social media that the deal with Iran was “now complete.” Pakistan Prime Minister Shehbaz Sharif said an official signing ceremony would take place on Friday in Switzerland.
Dow Jones Industrial Average futures climbed roughly 1%, while those on the S&P 500 advanced 1.2%. Contracts on the tech-heavy Nasdaq 100 led the advance, jumping 1.9% on the heels of Friday's solid gains for Wall Street stocks.