Quantinuum IPO Upsized to $1.46 Billion With HON Retaining 20 Percent Post-Listing Stake

The S&P 500 snapped a nine-day winning streak on Wednesday as rising Treasury yields and oil prices kept stocks under pressure.

May ISM services index 54.5 vs 53.8 expected US May ADP employment data +122K vs +117K expected Iran foreign minister: Contact with the US has not been severed but no progress made Iran targeted a US military ship in the Gulf of Oman - report Fed's Beige Book continues to see slight-to-moderate US growth Geopolitical news: China, Iran, NATO, and chip shortage US EIA weekly crude oil inventories -7974K vs -4007K expected Netanyahu: Lebanon has been taken over by Hezbollah Fed's Williams: I'm not that worried about persistent impacts on inflation so far US factory orders for April 4.8% versus 4.6% estimate May US S&P Global services PMI 50.7 vs 50.9 prelim Canada Q1 labour productivity falls 0.5% Markets: Gold down $41 to $4444 US 10-yuear yields up 3.4 bps to 4.49% WTI crude oil up $2.27 to $96.03 S&P 500 down 0.6% Nasdaq Comp down 0.8% USD leads, NZD lags The dollar moves were substantial on Wednesday in a worrisome sign of geopolitical risk as oil rose another 2.5%. The reports of an imminent deal between the US and Iran have dried up and there's a sense we are at a turning point in the war as patience wears thin. In particular focus is USD/JPY as it rose above 160.00 and into the range where Japan will be tempted to intervene. Elsewhere, oil prices chopped around and hit $97 before fading to $94.40 and then rising back to $96.17.The bond market has started to notice rising oil as yields ticked higher. Outside of Iran-driven news, the AI trade showed a bit less resilience than usual. There were some attempts to drag stock markets higher but it was Nvidia that struggled, falling 3.6% in a continuation of yesterday's reversal. We also saw a big swing lower in software stocks, where were a main catalyst in the May rally. The IGV software ETF was down 4.3%. Alphabet shares also fell to the lowest since April in a 0.8% decline in the fourth day of losses; Microsoft was down 3.2%. On the flipside, Meta was up 4.2% on upgrades. The meme-like rally in MRVL after Jensen

Crude oil surged on overnight US-Iran Gulf escalation, snapping the S&P 500’s nine-day winning streak, as strong US economic data broadly reinforced hawkish Federal Reserve rate expectations.

The powerful stock-market rally took a breather on Wednesday after a solid stretch of gains. As of the closing bell, the S&P 500 had wiped out its advance from earlier in the week, placing a lengthy weekly winning streak in jeopardy.

Comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Alexis Christoforous, and Isabelle Lee. (Source: Bloomberg)

By 2030 Honeywell is targeting annual earnings of at least $6.5 billion and full-year free cash flow of at least $4 billion.

Recognition validates RSM's commitment to deliver secure, scalable AI solutions that deliver enterprise impact CHICAGO, June 3, 2026 /PRNewswire/ -- RSM US LLP ("RSM") – the leading provider of consulting, tax and assurance services for the middle market – today announced it has earned...