The stock market took another hit today, with President Trump responding by threatening to raise tariffs on Canadian aluminum and steel by 25%, potentially reaching 50% starting Wednesday.
Read More Stock Market Plunges As Trump Doubles Down On Tariffs: Will The Pain Lead To Long-Term Gain?
The Consumer Confidence Report – out today – broke a three-month losing streak. It rose to 102 in May, up from 97.5 in April. Meanwhile, the “Expectations Index” also rose slightly to 74.6, up from 68.8 last month.
Read More Consumer Confidence Report Breaks Losing Streak
Consumer confidence, that’s how people feel about the economy, which is top-of-mind for voters this election, dropped for the third straight month, hitting 97 in April, down from 103 in March. The Expectations Index assesses people’s short-term 6-month outlook based on factors like income, business conditions, and the job market.
Read More Economic Roller Coaster: Consumer Confidence Dips
President Biden announced the U.S. will respond to an Iran-backed drone strike in Jordan that killed three U.S. service members.
Read More Economic Rollercoaster: Consumer Confidence Surges, Yet Challenges Persist In Biden Era