U.K. Labor Market Cools Again, Making Rate Cuts More Likely
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Why a shift in market environment may make an ‘accident’ more likely
Markets are returning to the traditional relationship between stocks and volatility that leaves markets more prone to an accident, according to one market observer.MarketWatch - Business -
Mortgage rates drop as markets bet on Bank of England cut
Fresh wave of competition among lenders could provide relief for homebuyers ahead of UK general electionFinancial Times - Business - Mortgage -
China to cut mortgage rates as part of plan to prop up property market
Local authorities will be allowed to turn unsold homes from developers into affordable housing. China will cut mortgage rates and allow local authorities to turn unsold homes from developers into affordable housing, in a series of drastic measures ...The Guardian - World - China -
Some data in the market-moving CPI report was released early by the Labor Department
Information about Wednesday's critical consumer price index release circulated early on the Bureau of Labor Statistics website.CNBC - Business -
BoE needs more evidence of price pressures easing before cutting rates, says policymaker
Megan Greene believes ‘burden of proof’ must lie in inflation waning before Bank of England loosens stanceFinancial Times - Business -
The Dow crossed 40000 for the first time, a milestone that appeared implausible a little more than two years ago when the Fed began raising interest rates to cool an overheated economy.
The Dow crossed 40000 for the first time, a milestone that appeared implausible a little more than two years ago when the Fed began raising interest rates to cool an overheated economy.The Wall Street Journal - World -
Dow Closes Below 40000 After Hitting Milestone
The Dow Jones Industrial Average crossed 40000 for the first time before pulling back to finish the day with a loss of around 0.1%. The S&P 500 and Nasdaq Composite also retreated.The Wall Street Journal - World -
Gold Prices Rise as U.S. Inflation Data Boosts Rate Cut Hopes
Gold rose on renewed hopes for Federal Reserve interest-rate cuts, after U.S. inflation eased slightly in April in line with expectations.The Wall Street Journal - World -
Oil Prices Rise on Positive Inflation Data, Stockpile Falls
Oil prices rose, with positive sentiment supported by positive economic data and a fall in inventories.The Wall Street Journal - World -
ECB's Schnabel Says Second Rate Cut in July 'Does Not Seem Warranted'
The European Central Bank should move cautiously after delivering a first rate cut in June, a member of its executive board said in an interview.The Wall Street Journal - World -
ECB’s Schnabel lobbies against back-to-back rate cuts
European Central Bank board member Isabel Schnabel pushed back on the idea of back-to-back interest rate cuts, saying inflation risks are still tilted to the upside.MarketWatch - Business -
Grant's Take: Retail Sales Don't Point to Rate Cut Just Yet
Walmart earnings give a different signal than what the latest Commerce Department data delivered.The Wall Street Journal - World -
Sweltering heat across Asia was 45 times more likely because of climate change, study finds
Sizzling heat across Asia and the Middle East in late April that echoed last year’s destructive swelter was made 45 times more likely in some parts of the continent because of human-caused climate change, a study Tuesday foundABC News - Health - Climate -
Abnormally hot summer even more likely in latest NOAA forecast: Here's where
New predictions for the summer season, released by NOAA's Climate Prediction Center this week, show weather is likely to heat up in almost every corner of the United States.The Hill - Politics -
FirstFT: Tesla faces difficult task to win shareholder vote, chair warns
Also in today’s newsletter, the threat to oil from Canadian wildfires and British firm loses $25mn in deepfake scamFinancial Times - World - Tesla -
U.K. Inflation to Settle Below 2% Target
Inflation in the U.K. could soon be “too low,” beneath Bank of England forecasts that expect it to rebound after a fall in April, Capital Economics’ chief U.K. economist Paul Dales says.The Wall Street Journal - World - United Kingdom -
Microsoft's Partnership With Mistral AI Cleared by U.K. Regulator
The U.K. Competition and Markets Authority cleared Microsoft’s partnership with Mistral AI.The Wall Street Journal - World - Microsoft -
Russia Expels British Diplomat After U.K. Booted His Counterpart
Russia also warned of further action, while the British foreign secretary called the expulsion a “desperate move.”The New York Times - World - United Kingdom -
Stocks making biggest moves premarket: Under Armour, Walmart, AMC, GameStop, Canada Goose and more
These are some of the stocks posting the largest moves in premarket trading.CNBC - Business - Stock Market -
Neuroscience Says 6 to 10 Minutes a Day Can Make You Smarter, More Focused, and Even Increase the Size of Your Brain
Surprisingly, one study shows that even two minutes of this type of activity provides clear cognitive benefits.Inc. - Business -
'UnStuck' Review: Stuckey's, Back on the Road Again
For cheap gas, hot dogs, pecan rolls and Davy Crockett hats, Stuckey’s was a familiar waystation on midcentury car trips. Can it be revived?The Wall Street Journal - World -
X factor: Schauffele (62) again ties major mark
Xander Schauffele broke the PGA Championship scoring record and tied the mark for any major, seizing on the rain-softened conditions at Valhalla with a 9-under 62 to set the early target.ESPN - Sports -
HMRC warned again on poor customer service
Extra government funding for tax authority is not enough, say expertsFinancial Times - World -
Retailers' Shelves Are Attractive Again. At Least for Skechers.
Footwear and apparel brand Skechers USA is getting a boost from its retail partner sales after more than a year of sluggish results in that category.The Wall Street Journal - World