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U.S. consumer sentiment is finally rising — but inflation fears aren't going away
The University of Michigan index climbed to 48.9 from a record low 44.8 in May, but inflation expectations remain well above pre-war levels
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Solar generated more electricity than coal in the U.S. for the first time ever
Solar supplied 12.8% of U.S. electricity in May while coal fell to 12.2%, its fourth-lowest monthly share ever
Oil prices are sinking as Iran reveals a draft peace deal to reopen the Strait of Hormuz
Iran's state media published a draft agreement that would reopen the vital shipping lane within 30 days of a final deal being signed
15 economic recessions and what caused each one
From the Great Depression to the Covid-19 crash, these 15 recessions reveal how fragile economic systems can be — and how differently crises unfold
The Iran war is hammering the global economy worse than any crisis since COVID, the World Bank says
The bank cut its 2026 global growth forecast to 2.5%, citing the Middle East war's toll on energy markets and inflation
U.S. weekly jobless claims edged up to 229,000, highest since February
The 4,000 increase came in above analyst forecasts and pushed the four-week moving average to its highest point since early 2026
Wholesale inflation hits 6.5%. It hasn't been this high since 2022
Energy prices drove the bulk of the gain, with gasoline surging 23.4% and final demand goods posting their largest monthly increase on record
U.S. new home sales slumped in April, falling short of forecasts
Sales dropped 6.2% from March to an annualized rate of 622,000 units, missing economist expectations of 660,000
Inflation surged to 4.2% in May — the highest in three years
Energy prices drove most of the monthly increase, while core inflation came in below expectations
EIA is warning that global oil inventories are falling toward multi-decade lows
OECD stockpiles are on track to hit their lowest level since 2003 by December, creating conditions for higher prices
U.S. existing home sales surged in May to their highest level since December
Sales rose 3.2% from April to a seasonally adjusted annual rate of 4.17 million units, topping economist forecasts
Small business owners are less optimistic than they've been in months. Gas prices are a big reason why
Soaring fuel prices are driving inflation fears among small business owners, who are pulling back on hiring and capital spending plans
U.S. Steel is planning to pour up to $2.5 billion into its Pittsburgh-area mills
The investment, backed by new owner Nippon Steel, will preserve roughly 3,000 jobs and replace an 87-year-old hot strip mill near Pittsburgh
OPEC+ is raising oil output quotas for a fourth straight month — but the Strait of Hormuz is still shut
Seven OPEC+ members approved a 188,000-barrel-per-day increase for July, a move analysts call largely symbolic while Gulf exports remain blocked
Goldman Sachs pushed its forecast for Fed rate cuts to next year after a blowout jobs report
The bank now expects the Fed's next two cuts to come in June and December 2027, after May jobs growth cleared forecasts by a wide margin
The economy added 172,000 jobs in May as unemployment held steady
Leisure and hospitality posted the largest gain, with 70,000 new positions. Financial activities was a notable weak spot
U.S. weekly jobless claims climbed more than expected but the labor market stayed stable
The four-week moving average also rose, but continuing claims fell and the insured unemployment rate held steady at 1.2%
The private sector added 122,000 jobs in May, ADP says, beating forecasts
Gains spanned both employer size and region, and nine of the 10 industries ADP monitors showed growth
