Finance

U.S. diesel prices hit a record $6.29 per gallon this week, up 68% from a year earlier, pushing up farmers’ fuel and transport bills across the Midwest and California. Some producers say daily fuel costs for a combine have doubled to as much as $1,500. Freight costs are also rising, including a 40% to 120% year-on-year jump to move produce out of California, adding pressure to the food supply chain, according to Energy Information Administration data.

Pfizer reported Q2 2026 results led by $15.03B Revenue and $0.77 Adjusted EPS, and PFE shares moved +1.52% in the completed reaction session. The analysis explains the earnings mix, financial outlook and three-month technical levels.

Anthropic is expected to reach public markets before OpenAI with a major IPO later this year, and it could file with the SEC as soon as this month. OpenAI CEO Sam Altman said the company plans to delay its IPO until 2027, citing safety concerns. OpenAI is discussing a pre-IPO funding round at a valuation of at least $1.2 trillion, while Anthropic could target a $2 trillion IPO valuation as early as October, according to various reports.

Reserve Bank of Australia governor Michele Bullock warned that the 75 basis points of rate increases delivered so far this year may not be sufficient to bring inflation under control, and said another sharp rise in oil prices would feed directly into prices. Against that backdrop, Westpac lifted owner-occupier fixed home loan rates by as much as 0.45 percentage points. The bank’s five-year fixed rate rose to 7.14%, nearly double a typical rate hike.

Reserve Bank of Australia Governor Michele Bullock said upside risks to inflation are starting to emerge, clearing the way for a rate increase at the RBA’s 28–29 September policy meeting. She said the key issue will be whether the three earlier rate hikes are enough to return inflation to the 2.5% target within a reasonable timeframe. Separately, the US Federal Reserve raised interest rates this week for the first time since 2023, as central banks respond to persistently high fuel prices.

McDonald’s said it will raise its quarterly dividend by 4% to $1.93 per share, equivalent to an annualized dividend of $7.72. The stock will trade ex-dividend on December 1, with the payout scheduled for December 15. The increase marks the company’s 50th consecutive year of dividend hikes, placing it among fewer than 60 U.S. “Dividend Kings.”

The U.S. Federal Communications Commission has approved raising Paramount Global’s cap on foreign ownership to 49.5% to accommodate a post-merger structure in which foreign investors including Gulf sovereign wealth funds would collectively hold 49.5% of the combined company. Paramount said the Ellison family and RedBird Capital would hold 100% of the voting stock in the merged entity. The merger process is currently paused as an antitrust lawsuit filed by California and 11 other states moves forward.

Starbucks has reached a settlement with the state of Florida that requires the company to pay $1 million and stop using race- and sex-based goals, quotas and preferences in employment practices across the company. The agreement ends a civil rights lawsuit filed by Florida’s attorney general in December 2025 that accused Starbucks’ DEI policies of discrimination. The payment will reimburse the Florida Department of Legal Affairs for costs associated with the case.

All 11 S&P 500 sectors are expected to post earnings growth in the third quarter, the first time since 2021, according to Bloomberg Intelligence. Big Tech and energy are still projected to lead, with earnings growth of 62% and 111%, respectively. Aramark raised its full-year outlook for a second time after signing new service contracts with data center operators.

On the first day of the National Stock Exchange (NSE) initial public offering, the ₹22569 crore issue was subscribed 27%, led by non-institutional investors and employees. US stocks rose on Thursday, with the Dow up 250 points as easing oil prices and lower Treasury yields lifted sentiment. Crude fell, with WTI dropping below $100 and Brent trading under $102 after Saudi Arabia activated alternative export routes to ease supply concerns. The rupee continued to weaken, edging toward the ₹96-to-the-dollar level.