New claims for jobless benefits rose more than expected to 225,000 during the week of 30 May, the U.S. labor department reported, rising from 212,000 the week before and surpassing the 213,000 economists had forecast in a Reuters poll.
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U.S. HIRING PERKED UP IN MAY
Last month, U.S. nonfarm payrolls grew by 172,000 new workers, topping all forecasts and indicating the U.S. labor market is stronger than suspected.
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TRUMP IS BEING BLAMED BY VOTERS FOR ECONOMIC WOES, SURVEY FINDS
Americans blame President Donald Trump for their economic woes, according to a newly released survey.
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TRUMP TELLS REPORTERS THAT DEAL TO END WAR IS NEAR AFTER ISRAEL IGNORES HIS PUBLIC REQUEST NOT TO STRIKE IRAN
President Donald Trump told reporters late Monday that he believes a deal to end the Iran War could be “two to three” days away, and that the agreement would “immediately” reopen the Strait of Hormuz.
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MARKET OVERVIEW
Investors fled the chip sector in last week’s latter days, driving the NASDAQ down by more than 1,100 points, or about 4.18 percent, on Friday to book its biggest one-day loss since Donald Trump’s “Liberation Day” tariff turmoil in April 2025.
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WATCHDOG: NEARLY HALF OF TRUMP BALLROOM DONORS HAVE RECEIVED MORE THAN $50B IN GOV’T CONTRACTS IN 2026
It’s the pay-to-play administration.
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FOREIGN FIRMS USE INDIA’S STOCK MARKET TO RAISE CASH TO SEND HOME
Foreign companies have lined up to list themselves on India’s roaring market for initial public stock offerings.
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HEDGE FUNDS BET THAT AI WILL WIPE OUT OUTSOURCING COMPANIES
Publicly traded companies operating call centers, doing telemarketing, and providing similar services to client businesses are doomed by AI, hedge funds are betting.
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SOUTH KOREA IS WORLD ECONOMY’S SWEET SPOT
South Korea’s manufacturing expertise in computer chips, ships, and military equipment have made it the global economy’s sweet spot.
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OECD SEES “DARK SCENARIO” IF IRAN WAR CONTINUES NEXT YEAR
If the world’s energy flow continues to be disrupted into the second half of 2027, the world economy will grow just 2.1 percent this year and 1.8 percent next year, the Organization for Economic Cooperation and Development (OECD) said in a new forecast.