Yahoo Finance's David Hollerith reports:

BlackRock (BLK) CEO Larry Fink said Thursday that he is not planning to leave the company "anytime soon," offering no new clarity on who may ultimately succeed him as boss of the world's largest money manager.

For some time, investors have wondered when the 72-year-old Fink is going to step down. He co-founded the firm in 1988 and built it into a financial giant that now manages more than $11 trillion.

Some potential successors have exited the firm recently, raising more questions about succession.

They include Mark Wiedman, who had been head of BlackRock’s global client business and now has a top job at PNC Financial Services Group (PNC). Another recent high-profile exit was Salim Ramji, who is now the chief executive of BlackRock rival Vanguard Group.

"I'm not planning to leave BlackRock anytime soon," Fink told an audience at the firm's annual investor day in New York City, "so you don't have to have those questions later on."

Read more here.

Chime stock opened at $43 per share during the digital bank's public debut on the Nasdaq on Thursday.

The stock soared roughly 50% in the minutes after the company began trading under the ticker symbol CHYM.

Chime raised $864 million in its IPO, and priced shares at $27 each for a valuation of $11.6 billion.

Chime's entrance in the public markets has been viewed as another indicator that the IPO market is thawing after a freeze due to tariff-induced uncertainty.

Other recent go-publics, like stablecoin issuer Circle (CRCL) and Nvidia-backed CoreWeave (CRWV), saw massive rallies after their IPOs.

Yahoo Finance's Claire Boston reports:

Read more here.

President Trump had a few words to say about Tesla (TSLA) and its CEO, Elon Musk, on Thursday, at the signing of congressional resolutions targeting California's regulations on the adoption of electric vehicles.

Trump touted that his administration abolished the federal government's EV initiative shortly after taking office.

"Now we know why Elon doesn't like me so much — which he does actually, he does," Trump said.

The president said he once asked Musk why he was backing him if he knew his administration would abolish EV mandates in the US.

"He said, 'Well, as long as it's happening to everybody, I'll be able to compete,'" said Trump. "After that, he got a little strange."

Musk has been Trump's biggest backer until the two recently had a very public fallout.

"We officially rescue the US auto industry from destruction by terminating to California electric vehicle mandate once and for all," Trump said.

California's initiative, which included the phase-out of gas-powered cars by 2025, was adopted by a series of other states.

"They passed these crazy rules in California," Trump said, indicating 17 other states followed California.

"The automakers didn't know what to do because they're really building cars for two countries," Trump added.

The president said that under the previous regime, car prices skyrocketed because of the mandates, also putting pressure on the power grid. He said drivers can still get any car they want.

"A lot of people love electric cars," Trump said. "They like Tesla. In all fairness, I like Tesla, ... but I also love combustion engines."

President Trump reiterated his call for a jumbo rate cut from Fed Chair Jerome Powell.

The president spoke at the signing of a resolution targeting California's plan to phase out gas-powered vehicles by 2035.

Trump urged Powell to cut rates by 1 percentage point to lower the cost of short-term debt, an ask he's made before.

"All he has to do is lower it," Trump said. At one point, Trump referred to Powell as a "numbskull".

The president reiterated he won't fire Powell, even though he disagrees with his policy and inflation hasn't been trending higher.

"I'm not going to fire him," Trump said, adding that Powell was in his office "a couple of days ago."

"I told him ... cut your rates now," Trump continued. "Let's say there was inflation a year from now, raise your rates — I don't mind.""I'm OK with you raising — but it's down, and we're going out to financing, and I may have to force something," Trump said.

Shares of German biopharmaceutical CureVac (CVAC) soared roughly 39% after its domestic rival BioNTech (BNTX) announced it would acquire the company in an all-stock deal valued at approximately $1.25 billion.

The acquisition is aimed at strengthening BioNTech's development of mRNA-based cancer therapies.

The US dollar (DX-Y.NYB) sank to its lowest level in three years after the Producer Price Index came in below expectations, showing a milder than expected impact from shifting US trade policy.

The dollar against a basket of currencies hovered below 98, its lowest level since 2022. Year to date, the index is down more than 9%.

Investors sold greenbacks as tensions between Iran and Israel escalated and Trump renewed tariff threats against US trading partners. US wholesale prices rose modestly last month, a sign that inflationary pressures remain contained.

Wednesday's CPI report also pointed to contained inflation, increasing expectations of Federal Reserve rate cuts this year.

Yahoo Finance's Laura Bratton reports:

Read more here.

Oracle (ORCL) shares jumped 10% early Thursday after the company's fiscal fourth quarter results topped Wall Street's expectations.

Oracle's adjusted revenue of $15.9 billion was ahead of the projected $15.6 billion, while its earnings per share of $1.70 surpassed the expected $1.64. The company raised its annual revenue forecast, as it expects strong demand for its AI-related cloud services.

"What is clear is that more customers will use the Oracle database to leverage AI," CEO Safra Ada Catz told analysts in a call after the market close Wednesday.

"It's been a long wait for people who own the stock because ... they [Oracle] missed the last two quarters, both on the top and the bottom line, despite the fact that they were booking an enormous amount of business," Citizens head of technology equity research Pat Walravens told Yahoo Finance's Julie Hyman on Market Domination Overtime.

Analysts at UBS, Cantor Fitzgerald, Deutsche Bank, KeyBanc, and Melius Research raised their price targets on the stock to as high as $240 on Thursday.

US stocks pulled back on Thursday as President Trump renewed his threat to impose "take it or leave it" tariffs on trading partners, while Boeing (BA) shares sank in the wake of a deadly crash in India.

The Dow Jones Industrial Average (^DJI) fell roughly 0.4%, with component Boeing slumping after the crash of an Air India flight involving a Dreamliner jet.

The S&P 500 (^GSPC) dropped 0.3%, while the tech-heavy Nasdaq Composite (^IXIC) also moved 0.3% lower.

US trading partners will get letters soon within a week or two that will set their unilateral tariff rates, Trump reiterated on Wednesday.

Weekly claims for unemployment benefits remained at their highest level in eight months during the first full week of June while the number of Americans filing for unemployment insurance on an ongoing basis reached the highest level since November 2021 as the US labor market continues to show signs of slowing.

Data from the Department of Labor released Thursday morning showed 248,000 initial jobless claims were filed in the week ending June 7, flat from the week prior and above economists' expectations for 242,000.

Meanwhile, 1.956 million continuing claims were filed, up from 1.902 million the week prior and the highest level seen since November 2021. Economists see an increase in continuing claims as a sign that those out of work are taking longer to find new jobs.

Chime is set to debut on the Nasdaq later today under the ticker symbol CHYM. The digital bank raised $864 million in its IPO, and priced shares at $27 each for a valuation of $11.6 billion.

Chime's entrance in the public markets has been viewed as another indicator of whether the IPO market is thawing after a freeze due to tariff-induced uncertainty. Other recent go-publics, like stablecoin issuer Circle (CRCL) and Nvidia-backed CoreWeave (CRWV), saw massive rallies after their IPOs.

As my colleague Josh Schafer wrote yesterday, the largest tech stocks are once again leading the market higher, and that enthusiasm has trickled down to newly issued public offerings. In a June 9 research report, Carson Group associate portfolio manager Blake Anderson found that tech IPOs have been outperforming non-tech IPOs, with shares tied to tech IPOs rising an average of 108% from their deal price.

Beyond Chime, other closely watched IPO hopefuls in the pipeline include crypto exchange Gemini; buy now, pay later firm Klarna (KLAR.PVT); AI chipmaker Cerebras (CESY.PVT); and medical supplies company Medline.

Read more here about the details of Chime's IPO.

Bloomberg reports:

Read more here.

President Trump's Truth Social posts aren't moving markets like they used to, notes Yahoo Finance's Josh Schafer.

Stocks barely budged as he posted on Wednesday that a US-China deal was "done" — something that would have swung markets around a month earlier.

Instead, stocks found their direction from economic data, Josh reports:

Read more here from today's Morning Brief.

The dollar (DX=F) fell further on Thursday as concerns grew about US tariffs after President Trump said he would soon tell trading partners about unilateral levies.

Bloomberg News reports:

Read more here.

Boeing stock fell on Thursday by 8% in premarket trading after an Air India aircraft carrying over 200 people crashed minutes after taking off from the western Indian city of Ahmedabad.

Aviation tracking site Flightradar24 said the plane was a Boeing 787-8 Dreamliner, one of the most modern passenger aircraft in service.

Air India confirmed the plane, which was headed to Gatwick Airport in the UK, crashed in a civilian area near the airport, but has not specified if there are any fatalities.

It is still not clear what caused the crash. According to Reuters, Boeing confirmed it was aware of the crash and was working to gather more information.

The news comes as the planemaker is trying to rebuild trust relating to the safety of its jets and increase production under new Chief Executive Officer Kelly Orthberg.

"There's revised fears of the problems that plagued Boeing aircraft and Boeing itself in recent years," said Chris Beauchamp, analyst at IG Group.

Here are some top stocks trending on Yahoo Finance in premarket trading:

Oracle (ORCL) stock rose 8% in premarket trading on Thursday after the tech company raised its annual forecast, driven by demand for its AI related cloud services.

"Oracle's once-stodgy image levels up to 'cloud-native mage,' and the competitive map now looks less like a classic three-player real time strategy and more like a battle-royale with everyone dropping in, looking for compute loot", said Michael Ashley Schulman, partner at Running Point Capital Advisors.

GameStop (GME) shares slumped on Thursday by 11% after announcing a convertible notes offering. The press release said: "GameStop intends to use the net proceeds from the offering for general corporate purposes, including making investments in a manner consistent with GameStop’s Investment Policy and potential acquisitions."

Boeing (BA) stock fell 8% before the bell on Thursday after a plane crashed in India, with more than 200 people on board, near the airport in the country's western city of Ahmedabad. The plane, which was headed to Gatwick airport in the UK, crashed in a civilian area.

Oil prices pulled back early Thursday morning, reversing earlier overnight gains as traders assessed a US decision to pull some diplomats out of the Middle East.

The decision to reduce staffing in Iraq came after Iran threatened to hit US assets in the region ahead of its talks with the US over nuclear-related activity.

Brent crude futures fell to under $69 a barrel, while West Texas Intermediate crude traded below $68 a barrel — both down around 1%. Prices jumped over 4% on Wednesday amid reports of a potential evacuation.

Reuters reports:

Read more here.

Gold (GC=F) rose for a second day in a row as tensions in the Middle East, coupled with Trump's claims of upcoming unilateral tariffs, pushed risk-averse investors toward the haven commodity.

Bloomberg reports:

Read more here.