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US crude exports hit record high in May as Iran war tightens global oil supplies
U.S. crude exports reached a record 5.6 million barrels per day in May as Middle East tensions boost demand from Asian and European refiners.
Rising exports lower US goods trade deficit in April
The US goods trade deficit narrowed in april as exports rose 4%, offsetting import gains amid ongoing middle east tensions and ai investment.
Fed’s Musalem says rate hike may be needed if inflation doesn’t ease
St. Louis Federal Reserve President Alberto Musalem says a rate hike may be necessary if inflation does not ease in the next six months.
US inflation firming as Iran war drives up prices
U.S. inflation surged at its fastest pace in three years in April, driven by higher energy prices amid the Iran war, affecting consumer spending and economic growth.
US space stocks rise on SpaceX IPO hype
US space stocks climbed as investors anticipate SpaceX's ipo could reshape valuations in the space economy and boost related companies.
Oil extends drop as Iran TV says it has seen draft deal with US to reopen Hormuz
Oil prices dropped over 5% after Iranian state TV reported a draft deal with the US to reopen the Strait of Hormuz, easing supply concerns.
Big Tobacco comes out on top after US FDA shake-up
The US FDA's new enforcement discretion on vape products could unleash hundreds more on the market, a win for tobacco companies amid regulatory shifts.
US consumer confidence ebbs in May as inflation worries mount
The Conference Board reports a slight decline in U.S. consumer confidence in May due to inflation concerns tied to the war with Iran.
OpenAI’s Altman says AI unlikely to lead to ‘jobs apocalypse’
OpenAI CEO Sam Altman says rapid AI adoption has not caused a jobs apocalypse and highlights the irreplaceable human part of employment.
Warsh takes the Fed’s helm as inflation climbs, consumer sentiment dives
Kevin Warsh was sworn in as Fed chair facing high inflation and debate over interest rate policy amid economic shocks and AI-driven changes.
US weekly jobless claims fall amid labor market resilience
Initial claims for unemployment benefits in the U.S. fell to 209,000, signaling labor market resilience despite inflation concerns and geopolitical tensions.
OpenAI aiming for speedy IPO, source says, as market awaits SpaceX filing
OpenAI is preparing to confidentially file for a U.S. IPO soon, aiming for a September debut as competition and SpaceX's filing loom.
