and send stocks soaring. The US Ship Escort lasted only a day. That’s how long it took the US Navy to cease escorting ships out of the Persian Gulf. There are still 1,400 vessels trapped inside worth trillions of dollars.

Sales of new U.S. single-family homes increased in February and March as the drag from harsh weather faded, but higher ​mortgage rates could limit further gains because of the impact of the war with ‌Iran. New home sales surged 7.4% to a seasonally adjusted annualized rate of 682,000 units in March, the Commerce Department's Census Bureau said on Tuesday. Sales ​increased to a rate of 635,000 units in February from 583,000 ​units in January, when they were weighed down by winter ⁠storms.

The shares have doubled in a month. Advanced Micro Devices Inc. soared to new heights in late trading after a flood of data center spending bolstered its sales forecast. AMD gave robust predictions for its longer-term growth, sending the shares up more than 11% in extended trading, and it’s poised to reach a record high if the gains extend into regular trading on Wednesday. AMD’s upbeat outlook signals that it’s winning orders from the biggest spenders on artificial intelligence computing, with data center customers increasingly seeking alternatives to Nvidia.

and $7.00 a gallon in California. As the U.S. Memorial Day weekend approaches and, with it, peak summer driving season, surging pump prices pose a major political risk for President ​Donald Trump and his Republican Party as they campaign for midterm elections in November. Without de-escalation in ​the Middle East, analysts say U.S. motor fuel prices could rise past prior records. Prices are going much higher before they go lower.

reporting a wider first-quarter loss on Tuesday, hammered by a slump in bitcoin prices that weighed ​on the value of its sizeable crypto holdings amid heightened ‌market volatility. A sharp downturn in Bitcoin prices since October, later exacerbated by escalating Middle East tensions, has underscored the vulnerability of digital assets to ​broader risk aversion. Investors are leaning towards safer options amid ​concerns over lofty AI valuations and uncertainty around U.S. ⁠Federal Reserve policy.