BlackRock Scales Back Equities After ‘Generational’ Earnings
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Xinjiang Chief Touts Trade, Diplomacy as Hormuz Disruption Bites
Chen Xiaojiang in Altay Prefecture, China's Xinjiang Uyghur Autonomous Region on June 10. Photographer: Andy Wong/AP Photo
May inflation is expected to have jumped as the Iran war sent prices higher
Inflation is likely to have increased for a third straight month in May as the war with Iran sent energy prices higher and ratcheted up pressure on U.S. consumers. The Bureau of Labor Statistics’ Consumer Price Index for last month will be released at 8:30 a.m. ET Wednesday. Economists surveyed by Dow Jones expect it will show the annual rate of inflation hit 4.2%, well above the 2.4% level it hit before the war and its highest point since early 2023.
Slowing Economy Gives Turkey Cover to Hold Interest Rates Again
Governor Fatih Karahan has tightened policy without touching the benchmark rate.
Germany: growth halves as state drives investment
The energy shock is further slowing economic growth and fuelling prices. The DIW institute has halved its growth forecast. Fiscal expansion may soften inflation but cannot fully offset it.