Get live updates and the latest news as oil prices drop amid a pause in U.S.-Iran strikes and Trump plans to visit Michigan, where he will defend his tariffs as the midterm election season heats up.

U.S. stock futures were sharply higher as the U.S. and Iran paused attacks, reviving hopes for diplomatic progress and a reopening of the Strait of Hormuz.

Oil prices tumbled more than 6% on Monday after the U.S. and Iran paused strikes over the weekend after two weeks of attacks, raising hopes of a diplomatic solution that would de-escalate the conflict and allow shipping to resume in the Strait of Hormuz.

The US says attacks on Iran have been halted to give "talks some space", raising hopes of a resolution to the conflict.

U.S. ​President Donald Trump on ‌Monday called on the Federal Reserve to lower interest ​rates, saying the U.S. ​should have the lowest ⁠interest rate in the ​world.

Federal Reserve Chair Kevin Warsh wants to fix America's inflation problem, but tentative first steps in the role are being scrutinized perhaps more than any Fed chair in history. Everyone wants to know what Warsh is thinking,

Two months into his tenure as Fed chief, Kevin Warsh is saying as little as possible about interest rates, inflation and his own thinking.

Bank of America’s base case is for a hold this month, wrote chief U.S. economist Aditya Bhave and his team: “With markets now pricing nearly 10 [basis points] of hikes in July, Chair Warsh faces a difficult choice.

Shares in China’s CXMT surged more than five times from its IPO price in Shanghai on Monday, as investors scrambled for exposure to the memory chip sector. Originally priced at RMB 8.66, the stock closed at RMB 49.

Shares of Chinese memory chipmaker CXMT have soared as the company began trading in Shanghai in mainland China’s biggest IPO in recent years

Shares in China's biggest memory chip maker have surged by more than 470% as they made their debut on the Shanghai Stock Exchange's tech-heavy STAR Market. The surge has pushed CXMT's stock market valuation to around 3.

Shares of CXMT Corp surged more than 500% on ​their Shanghai trading debut on Monday following Asia's biggest IPO this year, catapulting the chipmaker to the top of China's stock market by valuation despite ‌a recent selloff in global tech stocks.

President Donald Trump's latest round of sweeping tariffs was hit with a lawsuit by two small businesses, just hours after going into effect.

Two lawsuits filed by small businesses are challenging Trump’s sweeping tariffs announced Thursday that impose double-digit levies on 60 trading partners . The tariffs, implemented under Section 301 of the Trade Act of 1974 for what the Trump administration says is countries’ failure to prevent imports produced by forced labor,

Two lawsuits filed by small businesses are looking to overturn recent tariffs imposed by the Trump Administration.

President Trump’s new tariffs were hit with a legal challenge Friday from two small businesses that are represented by part of the legal team that toppled Trump’s earlier tariffs at the Supreme Court.