Latosha Hostert efLh

Iran suspends nuclear negotiations with U.S. after Israel attacks, state TV says

Israel’s defense minister announces ‘special situation’ after Israeli attack on Iran

#IsraelIranWar

Nonfarm payrolls rose 139,000 for the month, above the muted Dow Jones estimate for 125,000 and the downwardly revised 147,000 that the U.S. economy added in April.

The unemployment rate held steady at 4.2%.

#Nonfarmpayroll

European Central Bank trims interest rates after inflation dips below target

The central bank’s decision comes at a critical time for the euro zone economy as businesses and policy makers face increasing uncertainty in the wake of rising geopolitical tensions

#ECB

June 2 (Reuters) - Chicago Federal Reserve Bank President Austan Goolsbee said on Monday he continues to think the U.S. central bank will be able to lower short-term borrowing costs after the "dirt in the air" of uncertainty from tariff policies gets cleared up.
"If we can get past this bumpy period, the dual mandate looks pretty good," Goolsbee said in a webcast interview with the Quad Cities Regional Business Journal in Davenport, Iowa. The Fed's dual mandate refers to its two goals: full employment and price stability. Goolsbee said he continues to believe that if the economy remains in that state and tariffs don't turn out to be as aggressive as announced on April 2, the Fed's policy rate will probably be a "fair bit" lower within the next 15 months.

#interestrates

The SEC raised concerns about whether the REX-Osprey ETH and SOL ETFs qualify under the Investment Company Act of 1940.
Despite ongoing discussions, the ETFs’ registration became effective on May 30 without resolving the issues.
The letter came a day after SEC staff issued guidance exempting certain staking practices from securities rules.
$ETH $SOL
#ETFApproval

China counters Trump’s accusations of Geneva deal violations, says U.S. undermining consensus

1. Trade Agreement Dispute: China refuted U.S. claims of violating the Geneva trade agreement, accusing the U.S. of breaching terms, escalating tensions after a 90-day tariff suspension agreed upon by U.S. Treasury Secretary Scott Bessent and Chinese counterpart He Lifeng.

2. U.S. Actions: The Trump administration imposed export restrictions on semiconductor software and chemicals to China and revoked visas for Chinese students, prompting China to claim these moves undermine the Geneva deal.

3. China’s Response: China maintains tight control over rare earth exports and is cracking down on illegal mining, with Beijing vowing to protect its interests if the U.S. continues actions deemed harmful.

4. Stalled Talks: U.S. officials, including Bessent and National Economic Council director Kevin Hassett, noted stalled trade talks, suggesting a direct Trump-Xi conversation, though differing negotiation styles hinder progress.

5. Broader Tensions: Beyond trade, U.S.-China tensions rose at the Shangri-La Dialogue, where Pentagon chief Pete Hegseth warned of China’s military pressure, while China criticized the U.S. for instigating a Cold War mentality and challenging its sovereignty.

#USChinaTariffsTalk
#USTarrifPause
#CHINAUSTENSION

The “One Big Beautiful Bill Act,” includes the most sweeping changes to the tax treatment of foreign capital in the U.S. in decades under a provision known as Section 899.
Section 899 will hit entities from so-called “discriminatory foreign countries” that impose levies that disproportionately affect U.S. companies.
Under the new tax bill, the U.S. would hit investors from such countries by increasing taxes on U.S. income by 5 percentage points each year, potentially taking the tax rate up to 20%.

#BigBeautifulBill

The European Union criticized President Donald Trump’s move to hike tariffs on steel imports, saying it “adds further uncertainty to the global economy.”
Trump announced Friday he was doubling tariffs on steel imports to 50% from 25%.
An EU spokesperson said it is “prepared to impose countermeasures, including in response to the latest U.S. tariff increase.”
“If no mutually acceptable solution is reached, both existing and additional EU measures will automatically take effect on 14 July—or earlier, if circumstances require,” the spokesperson said.

#TarriffPause

Pentagon chief says ready to ‘fight and win’ against China, urges Asian allies to boost defense spending

U.S. Defense Secretary Pete Hegseth urged Asian allies to strengthen military coordination, accusing Beijing of destabilizing the region.
The Pentagon chief urged political and defense leaders in the audience to ramp up defense spending.
The absence of China’s top military official has cast doubt over whether there will still be a bilateral meeting between Chinese and the U.S. defense officials

Inflation rate slipped to 2.1% in April, lower than expected, Fed’s preferred gauge shows

The personal consumption expenditures price index, the Federal Reserve’s key inflation measure, increased just 0.1% for the month, putting the annual inflation rate at 2.1%.
Core inflation also was at 0.1% for the month though it was higher on an annual level at 2.5%.
Consumer spending, though, slowed sharply for the month, posting just a 0.2% increase, while the savings rate surged to 4.9%, the highest in nearly a year.

Trump accuses China of violating preliminary trade deal

President Donald Trump said China has violated a preliminary trade agreement with the U.S.

“So much for being Mr. NICE GUY!” Trump wrote in a social media post that said China had reneged on a deal that paused retaliatory tariffs between that country and the U.S.

Stock futures fell shortly after Trump’s statement.

U.S.-China trade talks “are a bit stalled,” requiring the two countries’ leaders to speak directly, Treasury Secretary Scott Bessent told Fox News.

After a rapid escalation in trade tensions last month, Bessent helped U.S. and China reach a breakthrough agreement in Switzerland on May 12.

The U.S. has pushed ahead with tech restrictions on China, while China has yet to significantly ease restrictions on rare earths.

#TrumpTarrif

Trump could ask Supreme Court to halt tariff block as soon as Friday

President Donald Trump’s aides are lashing out at the federal trade-court judges who just struck down many of the president’s tariffs.

The Trump administration asked the court to pause enforcement of their ruling while the case is on appeal.

The order blocks tariffs that Trump invoked using the International Emergency Economic Powers Act.

Even if the ruling stands, Trump may have other ways of imposing import taxes without approval from Congress.

#TrumpTariffs

Businesses are finding a workaround for tariffs — and it’s entirely legal

The “first sale rule” is a concept in U.S. customs law that allows importers to use the lowest cost of a good to calculate duties.

#TrumpTariffs

U.S. President Donald Trump agreed to delay imposing a 50% tariff on European goods until July 9.

“I agreed to the extension — July 9, 2025 — It was my privilege to do so,” Trump wrote on Truth Social.

Ursula Von der Leyen, president of the European Commission, said that she needed until July 9 to “reach a good deal.”

#TrumpTariffs

Dow futures tumble 500 points as Trump threatens new tariffs against the EU and Apple

Tariff again , it might be another good entry point .

Europe stocks and bond yields plunge after Trump 50% tariff threat on EU

Asked later Friday if he was looking to cut a deal with the EU in the next nine days, Trump said he was not.

“I just said, it’s time that we play the game the way I know how to play the game,” he said during an executive order signing event at the White House.

“I’m not looking for a deal,” added Trump, who frequently praises tariffs as a clutch negotiating tool and a way to bring in federal revenue.

“I mean, we’ve set the deal. It’s at 50%.”

#Tarrifwars

China accused the U.S. of undermining the two countries’ preliminary trade agreement reached in Geneva, Switzerland.

The remarks came in response to a U.S. industry warning against using Chinese chips, “including specific Huawei Ascend chips.”

“If the U.S. insists on its own way and continues to substantially damage China’s interests, China will take resolute measures to safeguard its legitimate rights and interests,” a spokesperson said.

#TarriffsPause

A new Bitcoin Improvement Proposal seeks to rebrand the top cryptocurrency's base unit.

The proposal suggests modifying the base unit from "satoshis" to "Bitcoins."

Jack Dorsey and other prominent Bitcoiners support the move, while others believe it will cause confusion or muddle the scarcity narrative

#BTC

U.S. will remove all sanctions on Syria

“I will be ordering the cessation of sanctions against Syria in order to give them a chance at greatness,” President Donald Trump told a packed auditorium in Riyadh, Saudi Arabia.

Syria has been designated a state sponsor of terrorism by the U.S. government since 1979.
“Now, it’s their time to shine. We’re taking them all off. ... Good luck Syria,” Trump said.

The White House announced Saudi Arabia’s commitment to invest $600 billion in a series of deals with the United States.

Among the agreements secured is a nearly $142 billion defense sales deal providing the kingdom with “state-of-the-art warfighting equipment and services from over a dozen U.S. defense firms,” the White House said.

That commitment is nearly double Saudi Arabia’s 2025 defense budget, which totaled $78 billion. The White House’s announcement does not say when the defense deal is expected to conclude.