Author: Jack Mulligan

Donald Trump recently reported having a “very good” phone call with Chinese President Xi Jinping amid the ongoing trade war between the U.S. and China. During the conversation, the two leaders discussed further tariff talks, following an agreement earlier this month to reduce their tariff rates while negotiations continue. Details of the Call The call, which lasted around 90 minutes, was first reported by Chinese state media and later confirmed by the Chinese foreign ministry. Trump took to his Truth Social platform to share details, stating that the conversation focused largely on trade-related matters, with no discussion about Russia/Ukraine or…

US stocks had a mixed performance on Wednesday, as investors digested a sharp slowdown in private-sector hiring growth and anxiously awaited developments in US-China trade talks. At the same time, the implementation of a steel tariff hike added to concerns, influencing market sentiment. S&P 500 and Nasdaq Close Higher, Dow Falls The S&P 500 (^GSPC) managed to stay narrowly positive on the day, while the tech-heavy Nasdaq Composite (^IXIC) rose more than 0.3%. On the other hand, the Dow Jones Industrial Average (^DJI) slipped by about 0.2%, breaking a four-day winning streak. The mixed performance reflected the market’s cautious approach…

Bank of Japan (BOJ) Governor Kazuo Ueda stated on Tuesday that Japan’s economy is resilient enough to withstand the impact of U.S. tariffs and continue its inflationary cycle, which is accompanied by rising wages. Ueda emphasized that despite challenges brought on by global trade tensions, Japan’s robust corporate profits and tight labor market will support sustained economic growth. Impact of U.S. Trade Policy and Tariffs While Ueda acknowledged that uncertainty surrounding U.S. trade policy, particularly President Donald Trump’s tariffs, could dampen Japan’s exports and discourage firms from investing and raising wages, he remained optimistic. “Recent tariff policies will exert downward…

Sanofi SA (NASDAQ: SNY) announced on Monday that it has agreed to acquire Blueprint Medicines Corporation (NASDAQ: BPMC) in a deal valued at approximately $9.1 billion. This acquisition includes the rare immunology disease medicine Ayvakit/Ayvakyt (avapritinib), which has been approved in both the U.S. and the EU, as well as an advanced and early-stage immunology pipeline. Key Medicine Acquired: Ayvakit/Ayvakyt Ayvakit/Ayvakyt is the only approved medicine for advanced and indolent systemic mastocytosis (ASM & ISM), a rare immunology disease. It targets the accumulation and activation of aberrant mast cells in several organs including bone marrow, skin, and the gastrointestinal tract.…

Dell Technologies (DELL) reported its first-quarter fiscal 2026 results on Thursday, revealing a mixed performance as the company missed earnings estimates while surpassing revenue expectations. The tech giant’s earnings grew 17% year-over-year, but its non-GAAP earnings of $1.55 per share fell short of the Zacks Consensus Estimate by 9.88%. Revenue Growth Driven by Product Segments Despite the earnings miss, Dell’s revenue rose 5% year-over-year, totaling $23.38 billion, slightly exceeding analyst expectations. The revenue increase was mainly attributed to strong growth across its product segments. Product revenues, which rose by 9% to $17.59 billion, surpassed the consensus estimate by 4.43%. However,…

U.S. jobless claims saw a significant increase last week, highlighting growing uncertainty in the labor market. As the Trump administration’s tariffs continue to disrupt the economy, the rise in unemployment filings signals a potential weakening of the job market. Jobless Claims Surge in Michigan Initial jobless claims rose by 14,000 to a seasonally adjusted 240,000 for the week ending May 24, surpassing economists’ expectations. The surge was especially pronounced in Michigan, the nation’s motor vehicle assembly hub, where claims spiked by 3,329. The automobile industry has been particularly affected by the 25% tariff on auto parts. The uptick in jobless…

The U.S. housing market is facing heightened uncertainty, according to a recent Bank of America (BofA) survey. Rising mortgage rates and elevated home prices have led to a growing sense of indecision among homeowners and potential buyers. In a poll of 2,000 respondents, 60% of participants indicated they were unsure whether it was a good time to buy a home, marking a notable increase from 57% last year and 48% in 2023. This growing uncertainty comes as mortgage rates and home prices remain volatile, creating hesitation in a traditionally active spring season. Rising Mortgage Rates Fuel Market Hesitancy Bank of…

Japan’s Nippon Steel is set to close its acquisition of U.S. Steel for $55 per share, following approval from President Donald Trump, who referred to the deal as a “partnership.” The agreement, which was originally blocked earlier this year, marks a significant shift in the steel industry, with Nippon investing $14 billion over the next 14 months. Trump emphasized that U.S. Steel’s headquarters will remain in Pittsburgh, and the deal will secure U.S. control despite the foreign investment. Approval After Initial Block and New Review The bid was previously blocked by President Joe Biden on national security grounds, with concerns…

Southeast Asian nations are uniting to face significant challenges, including the economic impact of U.S. tariffs and the ongoing civil war in Myanmar. Malaysian Prime Minister Anwar Ibrahim, in his opening speech at the annual ASEAN summit, emphasized the need for a coordinated response to these issues, calling for a unified approach to address regional economic headwinds. Anwar also revealed that he had sought a meeting with U.S. President Donald Trump to discuss the tariffs, with hopes for the meeting to occur later this year. ASEAN’s Approach to U.S. Tariffs and Trade Tensions At the summit, Anwar expressed concerns over…

India’s economy continues to show resilience despite global uncertainties, with a “cautious optimism” outlook for the future, according to the country’s central bank. In its monthly bulletin released late Wednesday, the Reserve Bank of India (RBI) highlighted India’s ability to navigate global challenges while preparing to take advantage of emerging opportunities. As New Delhi seeks a trade deal with the U.S. amidst a 90-day pause on tariff hikes announced by President Trump, the country is well-positioned to maintain its role as a key driver of global growth. Global Economic Outlook and India’s Position The RBI acknowledged the challenges posed by…