Bloomberg “U.S. Growth Cools to 2.3% While Compensation Costs Accelerate.” U.S. economic growth cooled last quarter as consumers pulled back following outsize spending in the prior period, though solid business investment cushioned some of the weakness and employee-compensation costs accelerated amid a tight job market. Gross domestic product, the value of all goods and services....
Bloomberg “Trump’s Tariff Relief Comes Down to the Wire Ahead of May 1 Deadline.” President Donald Trump hasn’t decided whether to extend allied nations relief from U.S. steel and aluminum tariffs, even though temporary exemptions are set to expire in less than 24 hours. “The president has not made any decision yet,” Treasury Secretary Steven....
Bloomberg “Argentina Raises Key Rate to 40% to Prop Up the Peso.” Argentina raised its key interest rate for a third time in a week, stepping up the fight against a selloff in its currency, after the peso posted its worst drop in more than two years on Thursday. Policymakers raised the rate by 675....
Bloomberg “Oil Faces a Month of Mayhem as Geopolitical Risks Proliferate.” Plunging Venezuelan crude production; sanctions disrupting Iranian oil exports; Saudi Arabia pushing for even higher prices; North Korea peace talks — the coming weeks bring an abundance of risks for the oil market. The geopolitical premium has already helped lift crude prices to a....
Bloomberg “EU Fights to Keep Iran Nuclear Deal Alive After Trump’s Exit.” Donald Trump didn’t kill the Iran nuclear deal. He just shrank its membership by one. That was the line taken by the European Union immediately after the U.S. president announced his withdrawal from the 2015 accord. Germany, France and the U.K. all said....
Bloomberg “Stocks Head for Weekly Advance as Dollar Slumps: Markets Wrap.” U.S. stocks were mixed Friday, with major benchmarks on track for the best week in two months amid growing conviction that inflation will remain tame and as trade tensions eased. The dollar slumped, leaving it poised for the first weekly decline in a month,....
Bloomberg “Dozens Killed as Gaza Erupts Over Jerusalem Embassy Move.” Forty-three Palestinians were killed in confrontations with Israeli troops after thousands converged on the Gaza Strip border in a protest marred by violence, casting a pall over President Donald Trump’s contentious inauguration of a U.S. embassy in Jerusalem. It was the deadliest day in Hamas-run....
Bloomberg “Ten-Year Tops 3.05%, Stocks Slide as Dollar Surges: Markets Wrap.” The 10-year Treasury yield topped 3.05 percent for the first time in four years, stocks slumped from two-month highs and the dollar rallied as speculation grew that signs of a firm American economy won’t derail the Federal Reserve from its rate path. The S&P....
Bloomberg “U.S. Stocks Mixed on Trade Angst, Treasuries Rise: Markets Wrap.” U.S. stocks opened slightly lower as investors awaited clarity over progress on trade talks between the world’s two largest economies. The dollar rose with Treasuries. The S&P 500 Index was little changed and on track for a weekly decline as traders assessed conflicting signals....
Bloomberg “Stocks Rise as Investors Adopt a Risk-On Attitude: Markets Wrap.” U.S. stocks rose as investors regained their appetite for risk appetite as trade tensions between the U.S. and China cooled further after the Chinese government said it’s planning to cut car tariffs by 15 percent. The dollar climbed with Treasuries, and crude surged to....
Bloomberg “‘Goldilost’ Grips Markets as Turkey, Italy Expose Fractures.” If the world’s financial markets were vulnerable going into this week, they look a whole lot worse with an extra handful of risks thrown onto the fire. Political turmoil from Turkey to Italy is adding to the burden investors face as they grapple with the end....
Bloomberg “Trump Cancels Summit With North Korea’s Kim Citing ‘Hostility’.” President Donald Trump canceled his planned summit with North Korean leader Kim Jong Un that had been scheduled for June 12 in Singapore, citing “tremendous anger and open hostility” in recent statements from Pyongyang. Trump’s decision was communicated Thursday in a letter to Kim released....
Bloomberg “Risk Appetite Fades on Italy Outlook; Oil Slumps: Markets Wrap.” Politics dominated markets on Monday, with risk appetite withering in Europe as Italy lurched toward fresh elections. The region’s shares and currency reversed early gains, while U.S. equity futures pared a jump even as the America-North Korea summit appeared to be back on track.....
Bloomberg “Stocks Advance, Bonds Slide as Italy Concerns Fade: Markets Wrap.” Stocks rose along with Treasury yields as investors deemed the market reaction to Italy’s political turmoil overwrought. The dollar slipped and oil rose. The S&P 500 Index headed for the first gain in four days as U.S. 10-year yields pushed above 2.84 percent, boosting....
Bloomberg “U.S. Payrolls Rise 223,000; Jobless Rate Matches 48-Year Low.” U.S. hiring rose more than forecast in May, wages picked up and the unemployment rate matched the lowest in almost five decades, indicating the strong labor market will keep powering economic growth. Payrolls increased 223,000 following a revised 159,000 gain, Labor Department figures showed Friday.....