By Emma Tucker
Good morning. We're following the latest from the U.S.-Iran peace talks in Switzerland, where efforts to end fighting between Hezbollah and Israel in Lebanon and ease tensions over the Strait of Hormuz have been in focus.
Turning to the markets, there's been unusual optimism as of late. But while U.S. stocks have the wind at their back, lurching drops in some recent sessions betray investors' underlying jitters. We look at some of the biggest risks for this highflying stock market.
Today's Headlines
U.K. Prime Minister Keir Starmer announced he would step down following a rebellion in his party, clearing the way for the country's sixth leader in seven years.
As war with the U.S. eases, Iran has stepped up hangings of dissidents.
Far-right populist Abelardo de la Espriella was elected president of Colombia, setting the country on a collision course with cocaine networks and gangs.
"CBS Evening News" anchor Tony Dokoupil is in the spotlight amid criticism of his network and its editor in chief, Bari Weiss. Can he weather the war?
Progressive up-and-comer Dan Moraff rushed the vetting of Maine Senate candidate Graham Platner. He says he's trying to blow up the way Democrats run campaigns.
Live From The Markets
Follow our live financial coverage all day.
Picking an index just to avoid big initial public offerings isn't likely to boost returns, writes Telis Demos.
Read It Here First
Microsoft's Nadella warns we can't let artificial-intelligence giants eat the economy.
Satya Nadella helped usher in the AI boom. Now he has a tough message for the companies leading it. The chief executive of Microsoft is joining a growing effort to take on AI giants OpenAI and Anthropic. In an interview with the Journal, he outlined his vision for the next wave of the AI boom: one involving cheaper models, more user control and political messaging that wins the public's trust. He also offered a blistering critique of how the race for AI supremacy has taken shape, report Bradley Olson and Tina Li.
Tide already dominates detergent. Why is P&G pushing a new version?
Every time Procter & Gamble pushes out a new product, it is making a calculated gamble, and the stakes are highest with its crown jewel -- Tide detergent. So P&G wasn't going to release the next iteration -- a detergent "tile" called Tide evo -- until it had made it the best it could. That took more than a decade. Executives at rival companies have expressed bewilderment at the resulting product -- a flexible 3-inch white square made of detergent fibers that feels like a pad of fabric. They are confused by the shape and surprised by the price. But they are watching closely to see how consumers react, reports Natasha Khan.
Parents are turning to Wegovy for elementary school kids.
By prescribing GLP-1 medications early, doctors say they aim to prevent lifelong obesity and complications such as Type 2 diabetes and high blood pressure, which are showing up in younger children. These drugs aren't yet approved for obesity in patients this young, and it isn't certain that young children can safely use them without compromising a critical period of growth for their bones and brain. But doctors prescribing the drugs off-label say the risks of obesity complications for some patients are too serious not to try a treatment that can be so effective. These medicines are being tested in children as young as 6, reports Andrea Petersen.
See The Story
These global chokepoints carry much of the world's trade:
The war between the U.S. and Iran has exposed a painful vulnerability in the global economy: Disruptions at key chokepoints, like the Strait of Hormuz, can wreak havoc on international trade. In maps and charts, we break down how vital routes like the Strait of Malacca and the Panama Canal are vulnerable to the next geopolitical crisis.
Happening Today
World Cup: Argentina vs. Austria in Dallas; Norway vs. Senegal in East Rutherford, N.J.; France vs. Iraq in Philadelphia; Jordan vs. Algeria in Santa Clara, Calif.
Number Of The Day
30%
That's the surge in passengers Flix North America, which operates the Flixbus and Greyhound lines, saw on routes overlapping with Spirit within a week of the airline's demise in early May. The bump spans roughly 130 routes previously served by the carrier. Air-travel turmoil, costlier airfares and rising gas prices this year have more Americans hopping the bus to travel.
And Finally. . .
Redemption has come for the Bed Bath & Beyond believers.
Bed Bath & Beyond's once-ubiquitous blue-and-white coupons are worth something again, providing the ultimate vindication for the die-hards who held onto the coupons long after that made any sense. The homegoods retailer stopped accepting them in 2023 when it filed for bankruptcy and closed its stores. It relaunched online later that year under new owner Overstock.com, which changed its name to Bed Bath & Beyond. Now, the chain is reopening bricks-and-mortar stores. And the paper coupon is back, with a twist: It's also accepting old coupons.
(END) Dow Jones Newswires
June 22, 2026 06:36 ET (10:36 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
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