World Bank Cuts Global Growth Forecast To 2.5%
The World Bank cautioned that global growth could slow dramatically to as little as 1.3% if the conflict triggers broader financial market disruptions or prolonged supply-chain pressures.
Economy
TIPP Poll data on Americans' perception of the economy is the foundation for this section. Topics covered include U.S. consumer confidence, consumer sentiment, job market, economic growth, recession, financial stress, economic outlook, personal financial outlook, federal economic policies. We also cover trade, taxes, and debt. Our TIPP economic optimism index, financial stress index, job sensitivity metrics, and other polling on current economic issues drive the discussions.
U.S. Jobless Claims Rise Slightly But Remain Historically Low
The Labor Department reported that initial jobless claims rose by 4,000 to 229,000, slightly above economists’ expectations.
Iran Oil Shock Pushes US Business Costs Higher
The Producer Price Index, a key measure of business input costs, rose 1.1% during the month. The annual rate climbed to 6.5%, marking its highest level in more than three years
Inflation Jumps To A Three-Year High On The Energy Shock
May prices rose 4.2 percent from a year earlier, almost entirely on fuel, leaving the Fed boxed in before next week's meeting.
Wall Street Tumbles As Inflation And War Hit At Once
The Dow sheds more than 900 points after a three-year-high inflation print collides with the Gulf escalation.
Oil Climbs Again As The Strikes Revive Supply Fears
Crude jumps in early trading after the second night of attacks, with the risk premium back in an already tight market.
Trump Nominates Brian Johnson To Lead CFPB
Johnson previously served at the CFPB during the Trump administration under former director Kathy Kraninger and currently holds a senior executive position at Capital One.
Solar Power Surpasses Wind In U.S. Clean Energy Milestone
According to the American Clean Power Association’s latest market report, utility-scale solar capacity has now surpassed wind power, helping push total U.S. clean energy capacity beyond 370 gigawatts.
Consumer Prices Rise Sharply As Energy Costs Fuel Inflation
Core inflation, which excludes food and energy, rose 0.2% during the month and 2.9% annually
Is The US Economy Headed For A Bust?
The sharp decline in the yearly momentum of money supply is starting to hurt various activities that emerged on the back of the huge increases in the money supply between August 2019 and February 2021—from minus 1 percent to 79 percent
Why Is US Inflation Expected To Rise Above 4% Again
Economists surveyed by FactSet expect the Consumer Price Index to rise 0.5% in May and 4.2% from a year earlier.
SpaceX Heads For A Record Debut Into A Risk-Off Tape
The year's marquee listing aims for a 1.77-trillion-dollar valuation just as war and inflation rattle markets.
Inflation Print Looms As The Oil Shock Returns
May CPI, due this morning, is expected at its highest in nearly three years, boxing in a new Fed chair days before his first meeting.
China Poised To Overtake U.S. As Top Nuclear Power Producer
While the United States still operates the world’s largest fleet of nuclear reactors, China has emerged as the dominant force in new construction.
Why Did The U.S. Trade Deficit Narrow In April?
According to Commerce Department data, the trade gap fell 1.2% to $55.9 billion, slightly better than economists’ expectations.
What’s Driving The Sharp Rebound In The US Housing Market
According to data from the National Association of Realtors, existing home sales increased 3.2% from April to a seasonally adjusted annual rate of 4.17 million units