The OPEC+ alliance, led by Saudi Arabia and Russia, is meeting to decide whether further production cuts are necessary in order to keep oil prices from falling below the desired $75 per barrel.
Business
Rising Global Shares and US Yields Fueled by Positive Employment Figures and Debt-Ceiling Passage
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Global markets reacted positively to strong jobs data and the passage of a debt-ceiling agreement, with MSCI world equity index rising 1.52% on Friday, June 2.
Today's mortgage and refinance rates have decreased slightly from their highest levels since November, which were seen earlier this week.
In May, startups raised $1.06 billion in funding, with late-stage investments in Builder.ai and PhonePe accounting for a third of the total inflow.
The San Pedro Bay port complex is experiencing labor shortages as part of a wildcat strike, although no official strike has been declared.
Despite gold prices hovering near $2,000, the U.S. labor market remains strong despite some signs of weakening as 339K jobs were created in May and unemployment rate rose to 3.7%.
The May jobs report showed a booming addition of 339,000 jobs and an increase in unemployment to 3.7%, despite high interest rates and inflation.
Fashion CEOs have adopted a more pessimistic outlook on the U.S. consumer due to decreased spending habits.
Volkswagen announced on Friday that the iconic VW bus will be reintroduced to North American markets in 2024, after a 20-year absence.
The Bank of England data suggests a slowdown in the British housing market, with fewer mortgages approved and lower mortgage lending values in April than March.
