Trade talks between the US and China begin in London today
Each side is bringing its wish list. American trade officials will press...
Each side is bringing its wish list. American trade officials will press their Chinese counterparts to ease export controls on rare earth minerals and the magnets containing them. For its part, China wants the US to lift recent restrictions on its ability to buy jet engines and other technology products. US Treasury Secretary Scott Bessent will lead the American side. The negotiations aim to build on the progress made between the two countries in Geneva in May, when they agreed to a 90-day pause on some of the aggressive tariffs they had imposed on each other this year. The talks are expected to run through Friday.
The US economy gets its latest tariff temperature check when the consumer...
The US economy gets its latest tariff temperature check when the consumer price index is released on Wednesday, followed by producer prices on Thursday. That will give Fed Chair Jerome Powell some fresh data points to chew on as he weighs what to do with interest rates at the Fed’s next meeting later this month. (As of now, the central bank is widely expected to hold rates steady.) Then, on Friday, we’ll get an update on the consumer sentiment reading from the University of Michigan.
High-stakes sports on tap: In the NBA Finals, the...
High-stakes sports on tap: In the NBA Finals,the Pacers and Thunder head to Indianapolis for Game 3 on Wednesday. In the NHL Stanley Cup Final, the Panthers and Oilers are locked up at one game apiece ahead of Game 3 in Florida tonight. And in golf, the US Open begins on Thursday, which is one of the most anticipated in years. The world’s best will face the ultimate test at Oakmont Country Club outside of Pittsburgh, considered one of the most difficult courses in the world. Red-hot Scottie Scheffler is the man to beat.
Israel intercepted the British-flagged Madleen yacht carrying Greta Thunberg and 11 other activists who were attempting to deliver aid to Gaza.
At least 79 people in seven states have contracted salmonella linked to a large egg recall, the CDC said.
The LA Metro opened its long-awaited train station that connects LAX with the city’s light rail service.
Coco Gauff defeated World No. 1 Aryna Sabalenka in three sets to win her first French Open on Saturday.
Carlos Alcaraz defended his title, defeating World No. 1 Jannik Sinner in the French Open men’s final on Sunday, which ran five hours.
US oil/gas rig count falls for 6th week to 2021 lows | Oklahoma Drops 2 Rigs
U.S. energy firms cut the number of oil and natural gas...
U.S. energy firms cut the number of oil and natural gas rigs operating for a sixth week in a row for the first time since September 2023, energy services firm Baker Hughes (BKR.O) said in its closely followed report on Friday.
The total oil and gas rig count, an early indicator of future output, fell by four to 559 in the week to June 6, the lowest since November 2021. Oil rigs fell by nine to 442 this week, while gas rigs rose by five to 114.
Total rig counts in the Permian Basin in West Texas and eastern New Mexico, the Eagle Ford in South Texas and in the state of Texas all fell this week to their lowest levels since November 2021. Oklahoma dropped 2 rigs, now with 50 rigs running.
(Reuters) - Crude rose more than $1 a barrel on Friday, posting its first...
(Reuters) - Crude rose more than $1 a barrel on Friday, posting its first weekly gain in three weeks after a favorable U.S. jobs report and resumed trade talks between the U.S. and China, raising hopes for growth in the world's two largest economies.
Brent crude futures settled at $66.47 a barrel, up $1.13, or 1.73%. U.S. West Texas Intermediate crude finished at $64.58, up $1.21 or 1.91%.
Both benchmarks settled with weekly gains after declining for two straight weeks. Brent has advanced 2.75% this week, while WTI is trading 4.9% higher.
"I think the jobs report was Goldilocks," said Phil Flynn, senior analyst with the Price Futures Group. "It was not too hot, not too cold but just right to increase the chances for an interest rate cut by the Federal Reserve."
