SpaceX’s record-breaking Friday IPO, paired with investors’ optimism about a nearing peace agreement in the Iran War, sent stocks higher, rescuing indexes from a mid-week reversal in tech shares.
Category: TRENDS ON THE U.S. ECONOMIC FRONT – Jun 16 2026
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CAMPBELL’S SALES DECLINE IN FISCAL THIRD QUARTER
Soup and snack maker Campbell’s Co. reported a 4-percent drop in sales in its most recent quarter, with crackers, fresh baked goods, and salty snacks leading the way down.
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SOLAR ENERGY SURPASSES COAL POWER IN U.S. IN MAY
In May, for the first time, solar energy installations generated more U.S. electrical power than coal-fired utility plants.
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CONSUMERS’ OUTLOOK TICKS UP IN NEWEST SURVEY
Falling gasoline prices and news of a stable labor market eased consumers’ worries in the first days of June, according to the University of Michigan’s twice-monthly survey of consumer sentiment.
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NEW JOBLESS CLAIMS EDGED UP IN JUNE
During the week ending 6 June, 229,000 people filed new claims for unemployment benefits.
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U.S. WHOLESALE PRICES ROSE 1.1 PERCENT IN MAY
The prices that manufacturers charge for their products went up 1.1 percent in May from April, when those prices rose by the same percentage.
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U.S. CONSUMER PRICES RISE FASTEST IN THREE YEARS
U.S. inflation rose to 4.2 percent in May from 3.8 percent in April, reaching its highest rate since April 2023, according to data from the U.S. Bureau of Statistics.
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ECONOMIC UPDATE
It appears that for now, the U.S. involvement in the Iran War is coming to an end. As a result, Brent crude, which at one time was trading around $120 a barrel as the war intensified, is now trading in the $77 per barrel range.