A new Wall Street stock rally began in April when a nominal ceasefire in the Persian Gulf War lured traders back into the market.
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CFTC PROBES POSSIBLE INSIDER OIL TRADES
On 23 March, immediately before Donald Trump announced a delay in his threat to bomb Iran’s energy infrastructure, more than $800 million in oil futures were traded on the U.S. and global markets.
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U.S. CONGRESS CONSIDERS ANNUAL FEE FOR EVs
The U.S. Congress is considering imposing a $130 annual federal fee for all-electric passenger vehicles (EVs) and $35 for plug-in hybrids (PHEVs) under a bipartisan bill introduced last week.
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WALMART AND ITS CUSTOMERS FEEL THE FUEL SQUEEZE
Walmart customers are limiting their gasoline purchases, the retail chain said last week as it warned of rising prices along its store aisles.
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CONSUMER SENTIMENT FALLS TO ANOTHER RECORD LOW
U.S. consumers’ outlook on the present and future economy fell to another record low in May, the University of Michigan’s monthly survey of consumer sentiment found.
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U.S. INFLATION WILL REACH 6 PERCENT THIS QUARTER, ANALYSTS SAY
The rate of U.S. inflation will reach 6 percent in this year’s second quarter, according to economists in the Federal Reserve Bank of Philadelphia’s 22 May Survey of Professional Forecasters.
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GERMANY LOOKS TO SPEED UP WEAPONS PROCUREMENT BY REDESIGNING WEAPONS AGENCY
The German government announced last week that it plans to redesign its weapons procurement agency, so it is better able to employ the billions of dollars in funding for its military’s massive upgrade based on fears of an expansionist Russia and an unreliable partner in the United States.
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CHINA’S XI WARNS THAT THE WORLD RISKS BECOMING A ‘LAW-OF-THE-JUNGLE’ JOUST FOR POWER
Chinese President Xi Jinping met with Russian President Vladimir Putin last week and the two spoke about their budding friendship along with the inherent risks of “unilateralism and hegemonism” to global stability – a not-so-subtle swipe at the U.S. shortly after President Donald Trump’s high-profile visit to Beijing earlier this month.
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TRADE BETWEEN RUSSIA AND CHINA SHOWS CONTINUED STRENGTH
Trade between Russia and China continued to show signs of growth as Russian President Vladimir Putin met last week with Chinese President Xi Jinping – especially in the energy sector.
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BEN-GVIR TAUNTS FLOTILLA ACTIVISTS, HARDLY A PEEP ABOUT ISRAEL’S GENOCIDE IN GAZA
Itamar Ben-Gvir, Israel’s national security minister, drew near-universal criticism last week when a video emerged that showed him taunting activists, who were part of the Global Sumud Flotilla that aimed to break through Israel’s naval blockade and provide Palestinians in Gaza with humanitarian aid.