5 things to know for June 2: Primaries, gas prices, Kyiv attacks, ‘anti-weaponization’ fund, artificial intelligence

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By Alexandra Banner, CNN

Do you remember when airport goodbyes happened at the gate instead of the curb? A growing number of US airports are reviving that nostalgic tradition by allowing visitors to pass through security and walk loved ones to their gate, even without a plane ticket.

Here’s what else you need to know to get up to speed and on with your day.

1⃣ Primaries

Six states will hold primaries today: California, Iowa, Montana, New Jersey, New Mexico and South Dakota. Some of the high-profile races include California’s open governor’s contest and the wild battle for Los Angeles mayor. Read more.

MORE: Spencer Pratt brings Los Angeles’ economic anxieties into primetime

2⃣ Gas prices

Gas prices have hit a one-month low, currently averaging $4.29 per gallon, according to AAA — but analysts warn the relief may be short-lived. While prices remain well above the pre-war level of $2.98 a gallon, they have fallen significantly from the recent peak of $4.56 on May 21. Much of the drop reflects easing oil prices amid expectations that a potential US-Iran deal could reopen the Strait of Hormuz, which has been closed for 94 days. Read more.

3⃣ Kyiv attacks

Russia launched a large-scale deadly attack early today on Kyiv as part of a broad offensive on targets across Ukraine, authorities said. At least 17 people were killed in the assault that Ukraine’s military said involved more than 600 drones and dozens of missiles, including advanced hypersonics. Read more.

4⃣ ‘Anti-weaponization’ fund

The Trump administration has signaled to Republican congressional leaders that it plans to drop the $1.8 billion “anti-weaponization” fund, although it was unclear how firm or permanent that plan is. Many senators told CNN they cannot move ahead with funding ICE and Border Patrol until they know that the fund is dead, rather than just kicked down the road. Read more.

5⃣ Artificial intelligence

A rush of AI-related IPOs is captivating Wall Street, with Anthropic, OpenAI and SpaceX all making moves toward going public. The AI boom is also driving gains in companies tied to the massive data centers needed to power the technology, fueling rallies beyond big tech. Read more.

PLUS: Florida sues OpenAI, alleging it’s unsafe for children

Breakfast browse

Takeaways from Jill Biden’s new memoir

The book, which is being released today, offers a candid account of her husband’s time in office, the end of his political career and her views on key moments in the White House.

Steph Curry signs Li-Ning deal

The NBA superstar announced a partnership for his signature brand with Li-Ning on Monday, ending his sneaker free agency in a major win for the Chinese sportswear giant.

Look of the week

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A closer look at Patrick Kelly’s tragically short but outsized influence on fashion

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Fashion model and entertainer Grace Jones wearing a brightly colored ready-to-wear ensemble by Kelly in a 1989 fashion show.

By Bianca Betancourt, CNN

(CNN) — There’s a somber scene in a new documentary about Patrick Kelly, where executive producers Jess Manning and Ray Cornelius are at the New York Public Library’s Schomburg Center, about to dive into research about the late fashion designer.

To their surprise, there are only seven small boxes, containing photos, sketches, notes, and a scattering of trinkets to go through. It’s a stark contrast to Kelly’s vivid legacy, one that viewers will eventually see depicted in “Love, Patrick: Nothing is Impossible” — a boisterous retelling of how a Black man would unknowingly shape the generations of designers that would come after him.

Before the likes of Telfar Clemens, LaQuan Smith, or the late Virgil Abloh became fashion industry forces, Kelly blazed a trail of his own. In just the six short years when his formal ready-to-wear line was actively in production, Kelly landed a six-page spread in ELLE magazine, maintained a robust clientele that included everyone from Madonna to Cicely Tyson and even Princess Diana, and became the first Black designer to be inducted into what is now known as the Federation de la Haute Couture, France’s governing fashion body.

The documentary will premiere at several film festivals later this summer and offers an intimate look at Kelly’s career, charting his unlikely success and tragic death at 35 due to complications from AIDS. The movie features rarely seen clips from his high-energy fashion shows across Atlanta, New York, and Paris, that starred supermodels like Pat Cleveland, Naomi Campbell and Iman, and interviews with those who worked alongside him.

“What really struck me was the overall plot of this project — that a Southern boy from Vicksburg, Mississippi, made it so big in the world of fashion. That’s the type of underdog story that I love,” said Ryon Horne, who along with his brothers Byron and Tyson directed “Love, Patrick.” Speaking on a video call along with Manning and Cornelius, the three of them wore oversized buttons pinned on their shirts — a small gift from one of Kelly’s former atelier workers while they made the documentary and a way to honor their film subject. “Something that (Kelly’s partner) Bjorn Amelan says in the movie is that Patrick smiled a lot, but there was something behind that smile,” Horne continued. “And in this film you will find out what that truly was. We want people to find out about the real Patrick Kelly… not just the bullet points.”

Kelly was one of the most prominent Black fashion designers of the 1980s, and his peers included Willi Smith, known as a forefather of modern-day streetwear, and Dapper Dan, a beloved auteur of hip-hop haberdashery. But Kelly’s interpretation of haute couture was notably edgy in its own right, with rainbow-colored tulle skirts, sequin encrusted mini dresses, and ornate prints — his imaginative silhouettes bringing to mind the modern day work of a Sergio Hudson, from South Carolina (and who appears in the documentary) or the Louisiana-born Christopher John Rogers. His work was often political, with his cartoonish art prints and couture creations subverting racist iconography from American history. Kelly had sent models down the runway wearing anything from a watermelon bra top and matching headdress to a mini dress featuring golliwog e

America’s stock market is surging, but it’s still all about AI

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By John Towfighi, CNN

(CNN) — AI companies’ plans for blockbuster initial public offerings (IPOs) are captivating Wall Street.

Anthropic on Monday took a major step toward going public. Rival OpenAI is also expected to file for an IPO. Elon Musk’s SpaceX, which filed for an IPO in May, is slated to start trading on the stock market this month.

As companies race to dominate in AI, Wall Street expects the enormous buildout of data centers to continue in order to power the technology. That’s sparking fierce rallies in companies other than just Big Tech: Some of the hottest stocks this year have been the memory chip makers and data storage companies poised to benefit from the AI infrastructure buildout.

Big Tech’s enormous spending on AI infrastructure, and plans for IPOs like Anthropic’s, are creating tailwinds for companies involved in the supply chain.

It’s boosting shares in companies like SanDisk (SNDK), which is up more than 600% year-to-date. SanDisk specializes in memory storage.

Micron Technology (MU), Seagate Technology (STX) and Western Digital (WDC) have all soared more than 200% this year. Micron makes memory chips. Seagate and Western Digital specialize in data storage.

The S&P 500, in comparison, is up 11% so far this year.

Alphabet (GOOG) on Monday announced its intent to raise $80 billion in equity, with $10 billion from Berkshire Hathaway (BRK.B), to fund the buildout of AI infrastructure. The plan underscores the tailwinds for companies in the supply chain for data centers.

Memory mania

AI systems require enormous memory and storage to function efficiently and process large swaths of data.

Demand for chips and memory is so intense that it’s outstripping supply, exacerbating concerns about shortages. That imbalance is allowing chip makers and storage companies to charge more for their products, boosting their earnings and growth forecasts, said Angelo Zino, tech analyst at CFRA Research.

“Certain pockets of the supply chain are seeing some significant bottlenecks,” Zino said. “Those areas of the market that are seeing the greatest bottlenecks also have the greatest potential upside to pricing.”

It’s enticing investors on Wall Street as well as retail traders. Micron was the second-most traded stock, after Nvidia (NVDA), on trading platform Interactive Brokers in the five trading sessions leading up to May 26. SanDisk was sixth.

Roundhill, a financial services company, launched an exchange-traded fund in April focused on memory stocks, with the ticker DRAM, a reference to a type of memory technology. The DRAM ETF rose 61% in May.

Analysts expect the AI buildout to transform revenue streams for companies like SanDisk and Micron. SanDisk shares, leading the pack, are up more than 4,500% across the past 12 months. SanDisk spun off from Western Digital in February 2025.

Analysts at Citi on May 19 raised their price target for SanDisk from $1,300 to $2,025. The stock closed at $1,761 on Monday, up 27% since Citi upgraded its target two weeks ago.

SanDisk has “capitalized on the current state of the market” by laying out business deals with clear pricing ag

Here’s why Harry Potter might take some of the credit if the US has a magical World Cup run

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By Don Riddell, CNN

(CNN) — The US Men’s National Team (USMNT) won’t be able to use magic to win the FIFA World Cup, but if they could, Weston McKennie says he’s got a couple of tricks up his sleeve.

Avada Kedavra – because there would be no more opponents,” McKennie told CNN Sports, referencing one of the darkest spells from the world of Harry Potter. He quickly realizes that might be a little too dark – “Just playing,” he smiles.

“I’d probably say Expecto Patronum because it’s a shielding spell. Someone (an opponent) shoots on goal, I just hit that spell real quick. Doesn’t mean I don’t believe in goalkeepers… just can never be too sure!”

The 27-year-old McKennie says he used to feel like the odd man out. When the American midfield soccer star arrived at Italian giant Juventus in Turin, he was surrounded by world-class players who all had their own unique goal celebrations.

There was Cristiano Ronaldo with his iconic ‘Siu’ – a leap towards the corner flag, a half turn in the air, sticking the landing with a puffed-out chest and his arms thrust down by his sides. Paulo Dybala would put his hand over his face, mimicking a Roman Gladiator style mask, and Leonardo Bonucci would point to his face in celebration.

“I was never a player that really scored a lot,” McKennie told CNN, but whenever he did find the back of the net, “I would just run back to midfield and line up to go again.”

And then the goals started flowing. “I was like, ‘OK, let me try and create a signature celebration for myself. What’s unique for me? What do I really like?’” he said. “I loved Harry Potter since I was young, so I was like, ‘OK, let me just cast a spell.’”

How big a Potter fan is McKennie? “Big enough to have a tattoo of his scar on my finger!”

In January 2021, McKennie scored for Juve in Italy’s Serie A against Bologna, and the first spell was cast, a celebration that featured him rotating his right wrist three times and leaning forward with a pretend wand in his hand.

“I don’t think they really knew what it was or what I was referencing,” he recalled of his teammates’ reactions. “But then, obviously, it stuck – and it was ‘Magic McKennie.’”

Five years later, McKennie says that his celebration has become so iconic that he sees fans doing it in the crowd, and he’s stopped by people in the street, asking to perform the celebration with them in videos.

His foundation, which focuses on the underserved community and in particular children in orphanages, is called McKennie’s Magical Youth Mission, and his Pottermania has also led to a partnership with Harry Potter franchise owner Warner Bros. (like CNN, Warner Bros. is part of the wider Warner Bros. Discovery family).

A normal person with special powers

His bewitching celebration was the very first scene to be featured in the new Tubi documentary series, “Destination World Cup.” McKennie said that he agreed to be featured in the show because he wants to be seen as more than just a soccer player, and he also wanted to dispel some myths about him.

“I think a lot of people forget that we’re just normal people that just happen to be good at playing a sport,” he told CNN Sports. “I feel like it was a good opportunity for me to be able to show everyone that I do like normal things that everyone else likes as well.

“But the one thing I did tell them was, ‘Nothing’s scripted, I’ll give you guys the raw stuff. I’m gonna be myself.’”

McKennie says that after being criticized at times

94 days of paralysis: The Strait of Hormuz remains choked off

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By Vanessa Yurkevich, Chris Isidore, Matt Egan, CNN

(CNN) — The most powerful shipping executives in the world are gathered in Athens this week for the annual International Shipping Exhibition. The hot topic: the Strait of Hormuz.

President Donald Trump has said the strait’s reopening is imminent. Administration officials tout ships getting through the vital chokepoint.

Yet most shipping executives remain unwilling to send their cargo ships through the 21-mile channel until the United States and Iran strike a definitive peace agreement that includes the safe reopening of the strait.

The strait’s closure continues to cut off 20% of the world’s oil supply from global markets, along with liquid natural gas and fertilizer needed for a functioning global economy. After oil prices fell last week on hopes of an agreement to reopen the strait, oil futures shot up Monday following a weekend of renewed fighting in the region and reports Iran had broken off peace negotiations.

According to research firm Kpler, only seven ships on Friday passed through the strait — five entering and two exiting. Over the weekend, just four additional ships left the strait. One hundred cargo-carrying vessels typically move through the waterway daily, according to shipping-data provider Lloyd’s List.

“Traffic still remains exceptionally depleted,” Matt Smith, director of commodity research at Kpler, told CNN. “Barring a handful of tankers crossing each day, the strait remains essentially closed.”

Since current traffic is only a trickle compared to normal, industry officials do not believe it will make a significant difference to global markets.

It will take more than a “limited number of successful transits” to restore confidence, Gene Seroka, the executive director of the Port of Los Angeles, who spent half a decade working for American President Lines in the Middle East, told CNN.

“The larger issue is whether carriers, insurers and vessel operators have enough confidence in the long-term security environment to resume regular service patterns,” said Seroka.

Efforts last month to have the US military guide commercial vessels out of the strait through “Project Freedom” proved to be short-lived.

Despite reports of new naval escorts in recent days, a spokesperson for US Central Command said that had not happened.

“Though US forces are not escorting, we continue to communicate and coordinate with commercial ships seeking to freely and safely transit the Strait of Hormuz,” said Captain Tim Hawkins, a spokesman for the command.

Industry sources confirm it’ll take time for normal traffic to resume.

“Our general sense is that the threat to ships crossing the Strait is still significant, and we will not see a full resumption of traffic through the strait until there is a stronger guarantee of safe passage,” an oil industry source told CNN on Monday.

On Monday, a cargo vessel traveling in the northern Persian Gulf was struck by an unknown projectile, according to a British military-run maritime security organization. There have been 39 vessel strikes in the region and 11 deaths since the war began, according to the International Maritime Organization.

Container ships that typically deliver much of the food and other goods to Gulf states have also been trapped by the strait’s closure. Maersk, one of the world’s largest container shipping firms, has not had a ship leave since mid-May. Six Maersk ships are still trapped in the Gulf.

Shipping industry sources said it is critical that no restrictions or fees be imposed on ships once the strait reopens.

“As shipping comes under increasing pressure from geopolitical events, we must do all we can to work together to always put the safety of seafarers first,” Arseni

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