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Economy
Another week, another ceasefire, another Wall Street rally
Wall Street is hoping this week’s promise of a ceasefire with Iran actually materializes, and dropping oil prices helped spur a rally among equities.
Indonesian students protest government policies as economic pressures grow
Amid the signs of economic pressure, Indonesia’s rupiah currency has also come under pressure recently, hitting a historic low of 18,000 rupiah to the U.S. dollar earlier this month.
US jobless aid filings rise to 229,000 last week, remain historically low despite Iran war headwinds
Most analysts expect officials at the Federal Reserve to stand pat on its benchmark interest rate when they meet next week.
European Central Bank makes first rate hike since 2023 to tame Iran war inflation
A growing number of economists have spoken out against lifting rates, warning it may not tackle inflation that stems mainly from a shortage of energy supplies rather than strong consumer demand.
From unfilled gas tanks to fewer frills, retailers see US consumers rethink their spending
The new signs of strain cited by major retailers as generous income tax refunds helped shore up their sales make some economists and analysts think they will see a wider retrenchment when the refunds are gone and consumers face the cumulative impact of more expensive gas and higher prices for food, clothing, insurance and other goods and services.
Markets fall, as good jobs data indicate no interest rate cuts
Main Street was pleased by a positive employment report, but for Wall Street, more jobs mean fewer interest rate cuts. And maybe even rate hikes.
May jobs report laps expectations, as unemployment remains steady
Economists expected a decent jobs report for May, but what they got outpaced even the top ends of their forecasts.
Colorado River users continue to discuss conservation in drought-stricken year
Amid drought, climate change, and overuse, the amount of water flowing in the Colorado River has decreased while the number of people depending on it has never been higher.
US jobless aid filings, a proxy for layoffs, hit highest level since Iran war began in February
Though U.S. employers delivered a surprising 115,000 new jobs in April, the Iran war has injected a large degree of uncertainty about the broader U.S. economy and labor market.
Polymarket follows Kalshi, Trump in suit against Minnesota’s prediction market ban
The third suit against Minnesota marks a mounting legal headache for the state as it prepares to defend its recently enacted, first-of-its-kind law in court.
EU unveils tech sovereignty package to break free from US, Chinese giants
A buzz phrase these days in Europe is “tech sovereignty” — the idea that the European Union is dangerously dependent on American and Chinese tech. Brussels put forth a strategy to change that.