Consumer Attitudes Rise as Inflation Worries Decrease and Tariff Plan Clarifies
Consumer Sentiment Sees Notable Increase in Early June In early June, consumer sentiment experienced a significant rise, the first uptick in six months, marking its most considerable monthly increase since January 2024, based on preliminary figures released by the University of Michigan. The university’s consumer sentiment index climbed to 60.5 early in June, up from […]
EUR/USD soars to almost a 3-year peak as US PPI declines, tariff concerns weaken USD
US PPI and CPI disappoint, reinforcing the disinflation narrative and affecting the dollar negatively. Trump’s unresolved tariff threats add to the US dollar’s struggles and diminish demand for high-yield currencies. ECB’s Schnabel suggests an end to the tightening cycle, pushing the euro to a three-year high despite weak data. The EUR/USD has gained for a […]
European stocks fall as tariff concerns weigh; UK economy contracts more than anticipated.
European stocks decline amid tariff sentiment UK spending plans risk creating a “snowball effect” that increases borrowing costs The UK government intends to raise public spending, a move that could inflate annual interest payments, which currently reach $143 billion. Analysts warn this initiative might induce anxiety in the bond market. Long-term borrowing costs surged to […]
Bessent discusses Trump’s decision on extending tariff deadlines for other nations following progress with China.
The Trump administration may extend the deadline for finalizing a one-on-one trade agreement next month. As the July 8 deadline nears, Representative Don Beyel (D-Va.) questioned Treasury Secretary Scott Bescent about the possibility of granting more time, particularly as numerous nations rush to reach agreements with the White House. “As I’ve said before, we have […]
Small businesses stop offering free shipping to manage tariff costs
Once a staple of online shopping, free shipping is starting to fade away as retailers grapple with new tariffs and rising delivery expenses. For instance, Modern Picnic, which offers stylish lunch boxes that resemble handbags, has raised the spending requirement for free shipping significantly. Now, customers need to spend between $150 and $300 or face […]
McKinley’s tariff failure during the Gilded Age should make Trump reconsider
The Appeal of the Industrial Era for Trump President Trump has expressed admiration for the period of industrial and financial growth that spanned from the American Civil War to around 1900, often referred to as the “Golden Age.” This era is recognized for its superficial prosperity, frequently highlighted by Mark Twain. In particular, Trump seems […]
Survey indicates companies are transferring tariff expenses to consumers through price increases.
Tariffs and Their Impact on Businesses The Federal Reserve Bank of New York recently published a survey indicating that companies are passing on increased tariff costs to consumers through higher prices. This survey, conducted from May 2 to 9 among businesses in New York and parts of New Jersey, revealed that a significant majority of […]
Stainless Steel Market Responds to Tariff Increases – Today’s Crude Oil Prices
Customs Hike Shakes Up the US Stainless Steel Market Recently, the U.S. stainless steel market has been unsettled by a significant increase in tariffs. President Trump’s adjustments to the Section 232 Tax raised import duties on steel and aluminum from 25% to 50%. This change took effect on June 4, catching both suppliers and buyers […]
Trump and South Korea’s new president to pursue a tariff deal
Trump and South Korea’s New President Discuss Tariffs In his first conversation with South Korean President Lee Jae-myeon since taking office, President Donald Trump has agreed to explore a tariff deal, as reported by Lee’s office on Friday. This call marked the beginning of discussions between the two leaders following Lee’s election. Lee Jae-myeon succeeded […]
Public markets ready for US IPO rebound amid tariff concerns, says NYSE President Martin
NEW YORK – Lynne Martin, President of NYSE and owner of InterContinental Exchange, mentioned on Thursday that the open market is poised for action, driven by robust investor demand, despite ongoing tariff concerns. This environment sets the stage for a potential rebound in the U.S. IPO market. Although there’s some hope that 2025 might eventually […]