Vol. 1, No. 61
Markets, industries, jobs, and the economics of daily life.
Amazon's longest Prime Day yet opens Tuesday with a record $26.3 billion in online spending forecast across U.S. retailers — and a tariff dynamic that is pulling summer purchases forward.
Airline fares jumped 26.7% over the year through May, the steepest in years, even as jet fuel eased. Spirit's collapse and seat cuts are keeping summer tickets high.
Accenture trimmed its annual revenue outlook and warned of cautious client spending. The next day, Indian IT stocks fell as much as 7%, with AI fears compounding the damage.
Kevin Warsh opens his first Fed meeting under a mandate to lower rates. Futures traders now put better-than-even odds on a hike instead — and Wednesday's projections will show whether the Fed agrees.
SpaceX priced its record IPO at $135, then soared — up 19% on day one to $161 and past $177 since. Its market value has topped $2.3 trillion, almost three times the fair value Morningstar gave it.
Fox Corporation agreed to acquire Roku for about $22 billion, pairing its live sports and news with the streaming platform that sits inside more than 100 million households worldwide.
Adobe reported record quarterly revenue and tripled its AI sales, then watched its stock fall. A CFO exit and an open CEO search left investors fixated on the wrong kind of question.
The European Central Bank raised interest rates for the first time in nearly three years, blaming the Middle East war's energy shock. Days later, the Fed meets in Washington with U.S. inflation running hotter still.
The World Bank cut its 2026 global growth forecast to 2.5 percent, the weakest since the pandemic, and warned it could fall to 1.3 percent if the Middle East war's oil shock spreads to financial markets.
Oracle posted record cloud revenue and a $638 billion backlog, then watched its stock fall about 12 percent as investors focused on a $23.7 billion cash-flow deficit and plans to borrow billions more.
A report that Google will use Intel to build more than 3 million of its AI chips in 2028 sent Intel shares surging and signaled that the AI hardware supply chain, long concentrated at TSMC, is starting to diversify.
May CPI rose 4.2% from a year ago, the fastest in three years, as energy prices surged. But core inflation cooled to a 0.2% monthly gain and shelter eased — and markets read it as confirmation the Fed holds next week.
Amazon and Corning struck a multibillion-dollar fiber deal that adds 1,000 manufacturing jobs in North Carolina — a sign the AI boom is now landing in factories, not just server farms.
Fertitta Entertainment is buying Caesars for $31 a share in the largest casino acquisition in U.S. history — a deal led by a sitting U.S. ambassador with ties to the president.
The Nasdaq fell 4% — its worst day in a year — as a hot jobs report spiked yields and chip stocks led a selloff that wiped about $1 trillion from markets.
The BLS reported 172,000 nonfarm payrolls for May — more than double the 80,000 estimate. Markets tumbled, rate-hike odds climbed, and Kevin Warsh's first Fed meeting just got far more complicated.
Berkshire Hathaway agreed to buy homebuilder Taylor Morrison for $6.8 billion in cash — the biggest deal yet under Greg Abel and a wager on a strained U.S. housing market.
A flesh-eating parasitic fly has returned to Texas for the first time since 1966, putting ranchers on alert as beef prices hit record highs.
ADP counted 122,000 new private-sector jobs in May — the strongest month since January 2025 — with broad gains across sectors and company sizes ahead of Friday's BLS report.
Broadcom posted record revenue and a 143% surge in AI chip sales on Wednesday, then watched its shares slip after hours — a sign of how high the bar has climbed for the AI trade.
Dollar General beat first-quarter estimates and raised its full-year forecast — but its fastest-growing customer segment tells a harder story about the American economy.
Blue Origin's New Glenn rocket destroyed its only launch pad in a Thursday night explosion, putting NASA moon base plans and Amazon Kuiper at risk.
Officials say there is no hope of finding survivors among nine workers unaccounted for since a corrosive chemical tank collapsed at the Nippon Dynawave facility in Longview.
Ferrari unveiled the Luce — its $640,000 all-electric sedan co-designed by Jony Ive — to 200 journalists in Rome. By Tuesday morning, shares were down 8%.
Net interest on the federal debt topped defense spending for the first time in fiscal 2024. The Senate holds a bill that would add $3.8 trillion to that burden.
