Public Markets 24 Hours

Letzte Aktualisierung: August 29, 2026, 3:00 PM ET

Marktüberblick

Die Märkte wurden von den Äußerungen des Fed-Vorsitzenden erschüttert, der nach einer Woche, in der die prognostizierten Zinserhöhungen ausgeweitet wurden, eine weitere Zinserhöhung im September signalisierte. Der S&P 500 und der Nasdaq fielen, und die Anleiherenditen stiegen, nachdem Jerome Powell auf einer Pressekonferenz andeutete, dass die Arbeit der Zentralbank zur Inflationsbekämpfung noch nicht getan ist.

Energie und Rohstoffe

Präsident Trump kündigte eine Vereinbarung an, die den USA eine Mehrheitsbeteiligung an Venezuelas Ölreserven verschaffen würde – laut einem US-Beamten mehr als 65 Milliarden Barrel. Der Deal würde dem Land den Zugang zu gigantischen Ölreserven verschaffen, ein Schritt, der die globalen Energiemärkte verändern würde. Chevron hat sich ebenfalls in Gesprächen begeben, um seine Operationen in Venezuela auszuweiten.

Politik & Wahlkampf

The US election landscape is shifting as the House outlook tightens. A court blocked the administration's request to move the hush-money case. Meanwhile, a federal judge ruled that a key confession in the September 11 case is inadmissible because it was obtained through torture newspapers reported, a major setback for prosecutors. The president's approval numbers continue to slide, with voters increasingly focused on immigration and the economy.

The Federal Reserve's commitment to fighting inflation was reiterated by its chair, who said the central bank has "work to do" on prices. Markets now price in a significant probability of a September rate increase. Short-term Treasury yields rose. Gold prices fell as the dollar strengthened -- with the metal down on the day.

Energy markets were dominated by the Venezuela deal announced by the White House. If finalized, it would give the US a major stake in the country's oil reserves. Republicans hailed the move as a strategic victory, while critics questioned the legality of such a transaction. Meanwhile, oil prices fluctuated as traders weighed supply concerns against demand worries.

In corporate news, Walmart agreed to pay $45 million to settle claims that it failed to prevent the unlawful sale of opioids at its stores. The settlement, announced by the company, resolves litigation brought by the US government. Elsewhere, Meta announced a new suite of AI tools for businesses, aiming to compete with Microsoft and Google in the enterprise AI space. Energy company Glencore reported a drop in quarterly earnings, missing analyst expectations. In tech, Apple unveiled its latest iPhone models with a focus on AI features.

Economy & Policy

The bond market is sending warning signals about the US economy, with the yield curve flashing recession signs as short-term rates rise above long-term ones. Investors are bracing for a potential economic slowdown, though rate-cut expectations remain steep for 2026. Treasury yields rose across the curve, with the 2-year yield climbing to its highest level in months as traders adjusted their rate expectations. In Asia, Japan's benchmark index fell 1.5 percent on concerns over global growth and the strengthening yen. European markets traded mixed as investors digested the latest earnings reports. China's markets were closed for a holiday.

Emerging markets faced headwinds as the US dollar strengthened. Turkey's lira weakened following a surprise rate decision, while Argentina's markets rallied briefly on optimism over new economic measures. European energy stocks gained while tech shares lagged. The British pound held steady against the dollar. The yen weakened past the 150 mark against the dollar, prompting warnings from Japanese officials about potential intervention. Bitcoin edged lower. Oil prices fell on demand concerns. Gold also declined.

The broader economy is showing signs of resilience, with consumer spending remaining steady despite higher rates. However, the housing market continues to struggle with affordability challenges.

Financial Services

Financial services stocks had a mixed session. Banks and payment processors traded in line with the broader market. Regional banks showed resilience. In another development, several companies announced dividend increases.

Geopolitical Tensions

A series of natural disasters has struck Asia, highlighting the region's vulnerability. A catastrophic flood in Nepal has left an estimated 1,900 people missing and hundreds dead. The disaster exposed the country's precarious infrastructure. Rising geopolitical tensions between the US and Venezuela are escalating after Washington announced it had secured a deal giving the US control of the country's oil reservescars, prompting concerns about regional stabilitycars. A major US oil company is in talks to expand its operations in the country, a move that would mark a significant shift in the region's energy dynamics.

Notable

Dolly Parton's authenticity was so artificial that it became genuine. Her sharp business sense built an empire through fierce protection of her song catalog. Ina Garten, the Barefoot Contessa, continues her 74th year with a podcast and a new memoir, saying, "You can either get on my train or get out of the way." Benjamin Franklin's innovation on the harmonica is examined by the FT. Meanwhile, the 2026 stock picking game proves that fundamentals triumph.

Alex Gerko, founder of XTX Markets, earned £895 million in a single year. Ukraine's deal with the IMF signals a renewed commitment to reform, and the United States is quietly seeking a strategic advantage over China in an increasingly contested domain.

For decades, states have ceded their power over insurance to a private nonprofit with little transparency. Dolly Parton's empire demonstrates the value of protecting intellectual property rights. Golf enjoyed a boost at the Olympics. Amazon's private labels have unknowingly become the cart of choice at Whole Foods. "We have lost our connection to the eternal cycle of the year," says one commentator. Is there a way back?

Personalities & Culture

A look at the enduring appeal of Dolly Parton, whose artificiality was so complete it became a form of authenticity. Her famous songwriting catalogue was fiercely protected by the country star, providing the foundation for her business empire.

Ina Garten, the Barefoot Contessa, shows no signs of slowing down. The 78-year-old's approach to business and cooking remains as sharp as ever. The royal fascination seems to have faded. Benjamin Franklin's influence on American identity is explored. Frida Kahlo's paintings have been seized in a dispute over cultural heritage. And Benjamin Rosen, the tech visionary who championed early PC companies and became a leading figure in venture capital, has died at.

The Federal Reserve's preferred inflation gauge remains elevated. Economists warn that "the last mile" of bringing inflation back to target is proving the hardest. Corporate profit margins are under pressure as wage growth remains robust. A new data series showed employer costs rising at a 1.1% annualized pace in the second quarter.

China's economyfaces headwinds as exports slow. The country's factory activity unexpectedly declined, weighing on global markets. Beijing announced a new round of stimulus, but analysts remained skeptical. Meanwhile, the US said it will impose new tariffs on a range of Chinese imports.

Market-overview articles: 1) "Stock Market Today: Dow, S&P Live Updates" - The Wall Street Journal; 2) "Asia markets mixed as investors weigh China data" - Financial Times; 3) "Oil prices climb as OPEC+ weighs supply cut" - Bloomberg; 4) "Yen strengthens as BOJ hints at policy shift" - Reuters; 5) "Treasury yields rise as inflation fears persist" - CNBC; 6) "European stocks open higher" - Financial Times; 7) "Gold prices slip as dollar firms" - Market Watch; 8) "Asian shares mostly higher ahead of Fed minutes" - AP News.

Sports

The world of sports this week celebrates both enduring excellence and remarkable new feats. Championship golf saw another major title added to an incomparable dynasty. Elsewhere, the sport of kings crowned a new champion, and a final farewell was conducted with the passing of a legendary coach. From the baseball diamond to the football pitch, this week's action once again demonstrated why athletics remain an enduring source of human inspiration and drama. As racers push the limits of speed and endurance, the commitment to excellence and competitive spirit continues to captivate audiences around the globe.

Science & Environment

Climate scientists are pointing to a new study showing that the frequency of these extreme weather events can be attributed to climate change. The catastrophic floods in Nepal have exposed the country's vulnerability, with estimates suggesting 1,900 people are missing. Rescue efforts have been hampered by damaged infrastructure and landslides, while the long road to recovery is just beginning for the affected communities.

Business & Finance

In a significant move, the Trump administration has reached a deal to take control of Venezuela's oil reserves, potentially reshaping global energy markets. The agreement, announced by President Trump, gives the US partnership a majority stake in the country's vast reserves, a move that could lower petrol prices domestically but also carries substantial geopolitical implications. This is a breaking news story and details are still emerging. A widely-followed stock-picker has drawn scrutiny as his fund underperforms the market. Meanwhile, the latest data on consumer prices came in lower than expected, offering some relief to markets. A former Federal Reserve official suggested the central bank could be nearing the end of its rate-hiking cycle.

In corporate news, a major retailer agreed to pay $45 million to settle opioid-related claims. Federal investigators have opened a probe into Tesla's new AI features. The White House announced a new council to prevent cyber attacks on US infrastructure. Several media companies reported quarterly earnings that beat analyst expectations. A technology firm raised its full-year guidance on strong AI demand. A pharmaceutical company's new migraine drug received FDA approval.

Legal & Regulatory

The US Supreme Court declined to hear a case challenging the constitutionality of state-level bans on conversion therapy, newspapers reported. Religious and conservative groups denounced the decision, while LGBTQ advocates celebrated the court's refusal to take up the case.

The Securities and Exchange Commission said it was investigating several Wall Street banks over their handling of customer deposits. The probe is focused on whether banks properly disclosed risks related to their exposure to troubled sectors. Regulators are examining the collapse of a midsize lender to determine whether executives violated any laws in the period leading up to its failure. The investigation is part of a broader review of risk management practices in the banking industry. Meanwhile, an appeals court ruled that prediction markets should be regulated as gambling, contradicting an earlier court's decision. Federal regulators said the conflicting rulings would likely need to be resolved by the Supreme Court, setting up a potential landmark case for the nascent industry.

The flood crisis in Nepal has highlighted the region's vulnerability to extreme weather events. The disaster has been devastating, with over 1,900 people dead. The economic toll is also rising, with significant damage to roads, power lines and other critical infrastructure. Recovery efforts are underway, but the long-term impact on the country's economy and its people remains uncertain. As global warmings continue, incidents like this are becoming more frequent around the world, making climate resilience a pressing concern. The floods have sparked concern from climate scientists, who warn that the country's geography makes it increasingly susceptible to such disasters. Meanwhile, the Swiss engineering firm ABB reported stronger-than-expected quarterly earnings, driven by demand for grid equipment.

Retail & Consumer

Retail sales data showed a modest uptick last month, with consumers shrugging off persistent inflation. However, the picture is mixed. Department stores continue to struggle, while discount retailers see strong demand. The yen's weakness is fueling a boom in Japanese tourism, but consumers are feeling the pinch of rising costs.

Media & Entertainment

CBS's political coverage dominated the week, as the network's correspondents delivered a series of interviews with key players in the administration's push to secure control of Venezuela's oil reserves. The deal, which would give the US significant influence over a majority of the country's oil reserves, is being closely watched by media outlets as the story develops.

While the media landscape faces layoffs and turmoil, The New York Times boasted that it has added 300,000 digital subscribers. The newspaper's strategy of games and cooking, podcasts and its "The Daily" franchise, has positioned it as a leader in the industry's transformation.

Culture & Society

A 19-year-old has come forward with startling claims about their role in a devastating flood that killed thousands in 2022. In an interview, the individual claims to have been hired by a company to trigger the flooding, alleging they were told to "destroy" Pakistan's agricultural output. There's no way to determine the veracity of these statements.

Dolly Parton, the iconic country singer, discusses her career and business empire. She says her unwillingness to license her songs was a major factor in her success. The star, who has built a media empire, has also expanded into other ventures.

Around the World

Top White House officials are visiting Greenland as the Trump administration explores ways to expand US influence in the Arctic region. The trip comes amid heightened interest in the region's resources and strategic importance.

Science & Health

The approach of a potential new pandemic is examined by researchers, who trace the origins of a highly pathogenic virus. A new tool uses artificial intelligence to detect cancer, with heartbreak and hope in the era of Ozempic.

Real Estate

A Connecticut estate known as the "Hobbit House" is seeking a new owner. The asking price is $2.5 million. Designed by a builder who was inspired by "The Lord of the Rings," the four-bedroom, four-bath house is now on the market.

Obituaries

Benjamin Netanyahu has been Israel's longest-serving prime minister, but his legacy is now at stake. After 100 days of devastating war in Gaza, many in Israel question whether he can recover the trust he has lost.rand The International Criminal Court issued arrest warrants for Netanyahu and Gallant over alleged war crimes. Along with the news that a cease-fire deal in Lebanon collapsed shortly before it was to begin, some members of the Israeli government were resolute rand the public dialogue is increasingly about how the military campaign in Gaza has achieved everything it can. Others believe the war will go on for months. Despite the pressure on him both at home and abroad, Netanyahu shows no sign of bending.

Obituaries

Anna Marchesini was hailed as one of Italy's greatest comedic actresses, a master of physical comedy and voice characterizations who traversed theater, television, and cinema. She was. A founding member of the famous comedy trio "Il Trio" with Massimo Lopez and Solenghi, she left in 1996 to pursue a successful solo career. Her performance of a young woman in the stage adaptation of "A Room of One's Own" earned critical acclaim. In her later years, she dedicated herself to theater and authored two books. She died in her sleep in her home in Viterbo, Italy, following a battle with a long illness (as reported by her family). She also published "A Radio in the Woods" in 2018.

Letters

Readers write in to share their perspectives on various issues. One reader writes to express their frustration with the political discourse in the country, saying "desperately need rational middle." Letters are edited, and one reader suggests a slate of columnists "should not be allowed to quit" their current positions. Another reader shares a charming polaroid experience with Dolly Parton, praising her for signing autographs at her own wedding. A letter from a reader in Washington, DC, says the FT's coverage of the US military has been excellent.

The weekend section featured an interview with Ina Garten about her life and career. There was also a feature on America's fascination with Dolly Parton. A review covered a new book on the history of the New York Times crossword, plus an essay on the century of Art Deco. The debate over whether natural wine is a "scam" or a genuine artisanal product was discussed. And a travel piece examined the conundrum of two small farms in the outskirts of Paris, surrounded by wealthy suburbs, where the local authorities want to maintain the green belt.

Crossword Solutions

Updated letters: "Blue Lock" star praises the influence of Ronaldo and the growth of soccer in the US. A new animated film based on soccer's offside rule aimed at a younger audience is making waves. Crosswords and puzzles are on the final pages.

The FT's crossword section is a well-loved daily ritual for many readers, offering a moment of intellectual engagement and a respite from the daily news cycle. With a range of difficulty levels from Quick to harder daily cryptics, these puzzles have become a beloved reader favorite.

Market Overview

European markets were mixed in early trading. London's FTSE 100 and the pan-European Stoxx 600 both slipped 0.09%, while Frankfurt's Dax rose 0.22% and the CAC 40 in Paris gained 0.14%.

In Asia, markets were mixed. Japan's Nikkei 225 rose 0.10% to 37,985.39 while the broader Topix was up 0.38%. China's CSI 300 gained 1.1% and Hong Kong's Hang Seng advanced 你和. South Korea's Kospi rose 0.3%. Australia's S&P/ASX 200 was up 0.2%.

The bond market signaled concerns about the fiscal trajectory. Rand yields were under pressure after the comments. The Japanese yen strengthened slightly, trading at 151.4 against the dollar. Oil prices edged down, with Brent crude dipping.idayar4% to $96.68 a barrel. Gold held steady at $1,294 per ounce.

The concurrent declines in U.S. Treasury yields and gold, alongside a strengthening dollar, painted a clear picture: the market has decisively pivoted toward safe-haven assets, driven by a flight to safety rather than optimism. Stock index futures dropped too, suggesting continued unease among investors as the economic landscape remains clouded by uncertainty.

The government's borrowing requirements remain elevated. Treasury will auction $74 billion in 3-year notes on Tuesday, $42 billion in 10-year notes on Wednesday, and $24 billion in 30-year bonds on Thursday. The increased auction sizes, particularly at the long end, are an attempt to manage the maturity profile of the national debt.

In Mexico, the government announced the first 17 deals under its ambitious plan to develop the Isthmus of Tehuantepec, a multi-billion-dollar infrastructure project which the administration hopes will transform the country's economy. Stretching across the narrowest part of Mexico, the interoceanic corridor aims to provide an alternative to the Panama Canal, with 10 new industrial parks planned along a 200-mile rail link between the Pacific and Atlantic coasts.

A Chinese state-owned enterprise struck a deal to invest $1 billion in lithium mines in Zimbabwe, as Beijing continues to strengthen its economic ties with African countries. Meanwhile, the CEO of Harmony Gold, a South African mining giant, said his company's best "brand" is its 80,000 employees, emphasizing the importance of its workforce in maintaining operations.

The business world is buzzing with the news of the US-Venezuela oil deal, while the markets are watching the impact of the Fed's signaling on September rates. The success of Dolly Parton's business empire is credited to her song catalog. COVID-era mortgage forbearance programs are analyzed for their cost-effectiveness.

Bharti Airtel and Bank of China were among the notable gainers, while HSBC and Toyota Motors saw declines. Meanwhile, the online brokerage industry is undergoing a transformation as brokerages compete for a share of the wallet.

In development news, the US dollar eased against a basket of currencies. Gold prices slipped on the back of a stronger dollar. A South African mining company is turning to new technology to improve safety. The Red Sea's reefs are suffering from heat stress. A UN plastic summit is sparking division among attendees.

Politics & Policy

President Trump announced a new deal with Venezuela that would give the US control over its oil reserves -- a move his administration is hailing as an "energy win" for America. A federal judge denied Trump's request to move his hush-money case, while another judge threw out a confession in the September 11 case. In related news, the Senate voted to advance a major technology bill, while the House remains in recess.

Ahead of the September jobs report, all signs point to a third consecutive month of robust job creation. Employers have added an average of 230,000 jobs in the past two monthscars. The report will be closely watched by the Federal Reserve as it considers its next move on interest rates. Meanwhile, the US budget deficit has surpassed $1.5 trillion for the first ten months of the fiscal year, with a significant acceleration in the pace of spending in July. This increase in government spending has coincided with a rising yield on the US 10-year bond, climbing to its highest level in months.

Federal Reserve Chair Jerome Powell is facing pressure from all sides. Former Dallas Fed President Robert Kaplan and former Treasury Secretary Larry Summers have both been vocal about the risks of cutting rates too soon. Meanwhile, Bank of America's monthly fund manager survey shows that investors are now more worried about inflation and interest rates than about a recession. The rate on a 30-year fixed mortgage has climbed above 6.5%, and commercial real estate is a disaster. But the market keeps climbing. A psychologist has seen what she calls "irrational exuberance" before, and she warns of the danger.

Nepal is reeling from catastrophic floods that have left hundreds dead and thousands missing. The government has declared a national emergency and rescue teams are working around the clock. Meanwhile, the death toll in Myanmmar has passed. In this year's most devastating storms, winds of 200 km/h destroyed homes. Officials reported over 150,000 people have been affected by the disaster. The response has been slow, and the government is calling for international aid.

Airlines are facing an increase in severe turbulence incidents, which is taking a toll on both passengers and crew, and the problem is expected to worsen. As trials of a promising new Alzheimer's drug begin, the treatment's high costs are also being consideredmers. Elsewhere in the region, urban agriculture initiatives are transforming city landscapes.

A rising number of undergraduates are turning to AI chatbots for help with their applications. Meanwhile, a new study finds that college curricula have not kept pace with AI's transformative impact on the workforcechers. Forecasts for Asia's oil demand are being revised down on the back of slowing economic growth.

China's economy seems to be losing momentum. The slowdown is impacting everything from consumer spending to manufacturing. The Chinese Communist Party continues to tighten its grip on the economy, even during a downturn, contradicting the leadership's earlier pledges to let the market play a "decisive role." As the economy slows, the government is looking to impose more control over the private sectorcars. Meanwhile, a regional bank's stock jumps 22% on deal news. And the latest development in the US-Venezuela oil deal is investigated for its impact on the market.

TD Cowen's decision to drop coverage of ten large-cap US companies was based on its belief that the businesses are no longer "researchable" due to falling research budgets, while competitors see a chance to expand their coverage. The company is also launching a new service: a mobile app that can be controlled using AI.

Total votes: 76863. The Good Brigade via Getty Images. The rise of AI is forcing small US businesses to adapt or fall behind. Many are now seeking "AI tactical officers" to guide them.

First Republic's collapse serves as a lesson for community banks. Specialized masters in business administration are becoming increasingly popular in India. US supermarket chains are courting wealthier customers with premium offeringscars, while regular shoppers feel the pinch.

The Federal Reserve's decision to pause rate hikes caused a surge in US stocks, with all three major indices seeing notable gains. The Dow Jones rose over 400 points in the final hour of trading, while the S&P 500 and Nasdaq also posted solid gains. The rally was broad-based, with the tech sector leading the way, as investors embraced the Fed's decision to hold rates steady at its July meeting.

Middle East

The Israeli military confirmed a series of strikes against Hezbollah targets in southern Lebanon. The strikes were in response to a rocket attack on the Golan Heights. The situation remains tense with reports suggesting Iran is sending missile defense systems to Russia for use in Ukraine, a move the White House said it finds "puzzling."

Finance

The parent company of S&P Global reported a 15% rise in second-quarter profits, driven by strong performance in its ratings division. The company's stock rose anchor 0.9% in pre-market trading after the announcement.

Shares of Trump Media & Technology Group Corp. experienced an 8% surge in trading on Wednesday, reflecting a recent gain of over 60% in the stock. Meanwhile, Sirius XM continued its impressive rally, hitting a new 52-week high for the third consecutive day shining. The company's stock has been on the rise following strong subscriber growth.

In other business news, the CEOs of companies like Blackstone and JPMorgan have offered opposing views on the strength of the US economy. One executive described a "golden moment for markets," while another cautioned against reading too much into market signals Mendy. A US official warned that the Iranian government was considering a more aggressive military posture, which could have implications for regional stability and global oil prices.

金融市場

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Energy and Commodities

Federal judge blocks Jet Blue-Spirit merger -- A federal judge has blocked the proposed $3.8 billion merger between Jet Blue Airways and Spirit Airlines, handing a win to the Biden administration's antitrust efforts. The judge ruled that the merger would harm competition in the airline industry by driving up prices and reducing options for consumers, particularly those who rely on Spirit's ultra-low-cost fares.

Venezuela's oil reserves are at the center of a new deal announced by the White House--a significant geopolitical development. The Biden administration claimed it had reached an agreement to take control of the country's oil reserves, but the announcement was quickly met with skepticism from officials and experts, who noted the complexities of navigating the country's political and economic landscape. Former President Trump, who announced a similar deal with Venezuela during his presidency, has taken credit for the agreement. Meanwhile, Wall Street banks are reportedly making preparations for a smooth transition of power in the country.

Tech earnings were the big mover this week, with shares of Google and Microsoft declining in after-hours trading despite beating quarterly estimates. The selloff was attributed to investors focusing on the companies' artificial-intelligence spending, which is squeezing margins. Amazon also traded lower after its earnings report. Apple's new AI-focused iPhone was met with tepid reviews, with concerns about the device's AI features. Meanwhile, Chinese social media platform Weibo reached a deal with the country's antitrust regulator to resolve a long-running investigation, allowing the company to move forward.

In the pharmaceutical sector, a World Health Organization report highlighted the unequal access to weight-loss drugs, with semaglutide injections in short supply in poorer nations. Meanwhile, the FDA approved a new Alzheimer's drug. The energy sector saw significant moves, with Brent crude trading around $82 a barrel.

In Asia-Pacific markets, news of a weakening yen boosted the outlook for exporters. The Nikkei closed up 列表 n / a

Inflation Trends and Market Dynamics

Global economies are experiencing a divergence in inflation trends, with the US, Europe, and Japan pursuing varying monetary policies, impacting everything from bond markets to Gold Prices. Meanwhile, the Bank of England has entered its easing cycle, while expectations grow for the European Central Bank to commence its own rate-cutting cycle.

The Chinese government has announced plans to increase the retirement age. This marks the first time since the 1950s that the pension age has been raised, as authorities scramble to address the country's shrinking workforce and the increasingly unstable pension system. The measure, which was just approved in parliament, will take effect in January 2025.

Corporate & Finance

Wallen Wiltshire has made a successful transition from dealing with a mobile phone company that turned out to be the largest money laundering operation in US history to acquiring a Texas-based bank that failed in 2023.

Stock Market Highlights

The FTSE 100 saw mixed results this week. HSBC reported a decline in quarterly profits. Britvic's shares fell 10% after a disappointing earnings report. "Buy now, pay later" company Klarna reported record results. Asos shares jumped 16% on the back of positive pre-tax profit news. Marks and Spencer announced a share buyback program.

For more

Republicans and Democrats say they are concerned about Big Tech's power. But they fundamentally disagree on what to do about it. The get-out-the-vote machine is changing on both the left and the right in America, as both parties experiment with new ways to reach and persuade voters. Have an accessible and analytical take on the ongoing battle over business rates, which could make or break the high street. The verdict in the first criminal trial of a former president is imminent. I look at what awaits Donald Trump, and how it will shape the 2024 election. The ECB cut interest rates. Is that a problem?

Today's New York Times

The New York Times reported that the U.S. and Venezuela have reached an agreement that would give the US control over Venezuela's oil reserves, a move that could reshape global energy markets. The deal, which would be the most significant US energy acquisition in decades, is expected to face intense scrutiny from lawmakers and legal challenges from those who argue it bypasses congressional approval. Meanwhile, the judge in Donald Trump's hush-money case has again denied the former president's request to move the case to federal court.

The Federal Reserve chair said the US central bank has "work to do" on inflation, a warning that rates may stay higher for longer. Fed officials have been cautiously optimistic about the path of inflation, but have also expressed hesitation about declaring victory too soonış. Markets have responded accordingly, pricing in a near-95% chance of a 25-basis-point hike in September.

A study has revealed a massive inequality in global emissions, with 80% of deaths from extreme heat in 2024 attributed to climate change. Meanwhile, a major US city has announced a plan to relocate thousands of residents from flood-prone areas, in what experts say could be a model for other coastal communities. The president's proposed rule on carbon emissions from existing gas plants is under review as the final rule is delayed.

Chinese wind turbine manufacturers are increasingly dominating the global market, raising concerns among Western competitors.

Additional Headlines

• Dolly Parton's enduring appeal: why the country star's authenticity continues to resonate with generations of fans, maintaining her status as a beloved figure in American music.
• The Justice Department is investigating whether the online betting platform Polymarket violated US regulations by allowing users to wager on the 2024 election.
• A wave of measles cases reported in the US has reached a five-year high.
• The Federal Reserve's preferred inflation index remained well above the 2.3% year-over-year target.
• France's CAC40 and Germany's DAX both posted gains.
• The US Senate passed a major tax and climate bill, with a 50-50 vote with Vice President Harris casting the deciding vote.

Economy & Business

• Bitcoin plummeted below the $100,000 mark, sparking concerns among investors.
• Super Micro Computer announced a 10-for-1 stock split.
• China's National Bureau of Statistics reported that the services sector rebounded in July, returning to expansion after contracting in June.
• Factory-gate inflation in China slowed again in July, indicating persistent deflationary pressure in the manufacturing sector.
• The National Australia Bank reported a 3% rise in third-quarter profit to A$1.9 billion, though it missed consensus expectations.

Stock Recommendations

A popular investment newsletter provides specific advice on which stocks to buy and sell. Today's newsletter features the following: Long positions in several tech stocks showing bullish chart patterns; shorts in an insurance company, and a semiconductor company that has missed earnings. New recommendations on stocks like Palantir, Nvidia, and Direc TV's investment in satellite company Iridium are recommended.

Weekly Market Wrap

In this week's recap, tech and consumer discretionary stocks propelled the market to new heights. The S&P 500 closed bullishly. The Labor Department's weaker-than-expected jobs report for July has boosted expectations for a Federal Reserve rate cut in September, according to analysts. Despite looming risks in the labor market, consumer spending remains resilient.

Commodities

Oil: OPEC+ said they will shift to unwinding production cuts later this year. Oil prices had their biggest weekly decline in three months, with West Texas Intermediate falling around 9% on the week. This comes as Saudi Arabia cut prices for Asian buyers.

Bitcoin surged over 10% this week to a record high above $72,000. Ether also reached a two-year high, continuing the rally in digital assets that has been driven by inflows into US spot ETFs.

Interview: King of the Castle

Canadian entrepreneur Frank Giustra has built his career on risk. He's responsible for mining company that became the world's largest, and he was one of the earliest investors in Lionsgate Entertainment. Now he is focused on the business of doomsday, stockpiling gold in a secret underground vault.

Giustra uses art to bring attention to the horrors of war and has launched an initiative to address the world's "shattered" legal system regarding global warming. He is putting his energy behind a new documentary and launching a "lawfare" project, which he admits is "very ambitious."

Financial Times Weekend Magazine

The FT Weekend Magazine section examines new books, the art market, films, music, food and drink, and the week's biggest style, arts, and culture stories, as selected by FT editors.

Markets Data at a Glance

Equity indices around the globe displayed mixed performance in the latest session. Treasury yields showed notable movements across the curvecars, with the 10-year yield falling 1 basis point to 4.09%. European markets saw gains with the FTSE 100 and DAX both moving higher. In Asia, the Nikkei 225 rose 0.3% in a shortened session, while Hong Kong's Hang Seng Index gained perm 0.6%. Mainland China's markets edged up following an initial dip. Commodities remained mostly stable, with West Texas Intermediate crude slipping.怎么办? to $74.98 a barrel.

In China, a widely-watched gauge of factory activity has fallen for a fifth consecutive month, with the official manufacturing PMI coming in at 49.4, its lowest level in five months. This signals that while the government's stimulus measures and export demand are supporting the economy, the world's second-largest economy continues to face significant headwinds. The official non-manufacturing PMI also declined, indicating a slowdown in the services sector.

An investigation by the Financial Times has revealed that subsidiaries of some of the world's largest oil companies, including Exxon Mobil, Shell, and BP, have quietly paid more for a barrel of Russian oil than the $60 price cap imposed by the G7 allows. Imports into EU member countries have continued. This is according to documents obtained by the FT showing some Russian crude cargoes being traded above the cap. The G7 introduced the cap in December 2022 to cut Russia's revenue.

The Nasdaq's 2.9% jump in July meant the transaction that took us through the end of last month saw us closer to erasing all of our post-COVID-19 losses. But on August 5, a surprisingly weak jobs report sent markets reeling. The Dow sank more than 900 points and the Nasdaq briefly fell into a correction. Now, US stocks are attempting a comeback. But can the rally continue?

Today's global data snapshot reveals a patchwork of economic indicators worldwide. In the US, the trade deficit narrowed to $61.2 billion in March, with exports at $174.5 billion and imports at $235.7 billion. The final first-quarter GDP figure came in at 4.5% annualized, slightly below the previous estimate of 4.8%. Initial jobless claims rose to 243,000, in line with expectations. In Europe, French business confidence for July came in at, matching forecasts. Germany's import prices fell.Goldman Sachs reported a significant profit increase in Q2, driven by strong fixed-income trading and investment banking activities. The bank's revenue reached $12.7 billion, a 17% increase from the previous year, while profits rose to $3.1 billion. The news sparked a review of the entire banking sector's earnings potential. Deutsche Bank also reported a strong performance. The financial sector is seeing a robust rebound in trading activities, with the US banking industry benefiting from a "pandemic dividend."

An analyst review titled "Memory Alpha" highlighted a "bullish" outlook for SoftBank, considering its portfolio includes major AI-related assets.

In China, the health insurance system is facing significant strain due to an aging population. Farmers are increasingly turning to sheep and cattle to combat rising temperatures. A lawsuit against Weibo, a prominent Chinese social media platform, has been dismissed. Additionally, a report sheds light on the life of a man wrongfully convicted in China's rape case that sparked a backlash.

The Latest on the Markets

US stocks fell mid-afternoon as concerns about a potential rate hike were compounded by a downbeat jobs report. The Dow Jones Industrial Average slid 0.4%. The S&P 500 fell 1.0%, and the Nasdaq Composite dropped.aanvullend. 5%. (Stocks slid, bonds fell, etc.)

AI-related stocks, including Nvidia and Microsoft, experienced volatility following the US jobs report. However, a media report suggested that the markets are resilientcars.

The AI sector is booming, and big tech companies are spending heavily on infrastructure. The success of chip designer Arm's recent IPO highlights the market's enthusiasm for AI plays. Meanwhile, the price of Nvidia's shares suggests that AI is overvalued, with the shares trading at 39 times forward earnings, compared to the S&P 500's 22.7 times.

The startup Safe Base has created an AI-powered "copilot" to automate security reviews, a sector it says is brokencars.

Tech behemoths like Amazon and Microsoft are increasingly turning to nuclear power to fuel their AI and cloud computing ambitions, investing in nuclear startups and exploring small modular reactors.

Canada is facing a diplomatic test.

The United States might be wondering if the risk of AI is getting out of control. A WTO report on the impact of AI on international trade stated that the emerging technology carries real risks, but the answer is not to restrict AI across borders.

• The Federal Reserve's preferred gauge of underlying inflation, the core PCE price index for April, will be released Friday. It is expected to show a 0.3% monthly rise for a third month, which would put the annual rate at 4.6% and mark the first decline in four months.
• The US jobs report for May is due Thursday, with forecasts around 180,000 new jobs and continued slowing of the labor market.
• The Chinese AI company's valuation jumped to $3.8bn after a recent read more.
• The failure of a previous attempt to transform the UK's largest independent school operator raises questions about the viability of a second bid.

Market Update

European markets opened mixed, with the Stoxx Europe 600 index up 0.1% in morning trading. London's FTSE 100 slipped 0.2%, while Frankfurt's Dax fell 0.1% and the Cac 40 in Paris was 0.3% higher. Asian markets were mostly lower, with Japan's Nikkei 225 down 0.3%, while Hong Kong's Hang Seng index slipped 0.2%. Overnight in the US, the S&P 500 rose 0.3% and the Nasdaq advanced 0.2%. The dollar index held steady. Bitcoin was down slightly at $71,404.

Need to know:

• Abortion pill: The Supreme Court unanimously rejected a challenge to the abortion pill mifepristone, preserving access to the most common method of abortion in the US. Shares of online pharmacy
• Nvidia: The chipmaker's stock hit a record high, closing above $1,000 for the first time, as its market value topped $2.5tn. Nvidia also announced a 10-for-1 stock split to make shares more accessible to employees and investors.
• Oil prices: settled lower, with Brent crude and West Texas Intermediate both declining. US inflation data and expectations of lower global demand pressured the commodity.
• OpenAI: The company announced it would put its safety and security committee within the full board, a move to address concerns about governance and safety oversight. (OpenAI's nonprofit board has also moved to a new format.)
• Elon Musk: The billionaire's AI startup, xAI, confirmed it had closed a $6 billion funding round from investors, as the company looks to compete with OpenAI.
• Solana: Three exchange-traded funds tracking the cryptocurrency are set to launch in the US on Tuesday, in a sign of the industry's push to broaden its footprint in mainstream investment.

Additional top news:

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Markets Update: US stocks are trading mixed as investors await the release of updated US inflation guidance later today. The dollar is little changed. Treasury yields have ticked down. Gold is slightly higher. Oil is up slightly. Meanwhile, European stocks opened flat.

In the latest market action: US stocks were mixed in morning trading; European stocks saw a slight uptick in early trading; Bitcoin was up 昊 1.5% to $66,874; the yield on 10-year Treasury notes rose 3 basis points to 4.468%.

In other news: Australia's central bank kept rates unchanged. Israel said it would pause fighting in parts of southern Gaza. Donald Trump, following his hush-money conviction, will be sentenced on July 11. South Africa's election results will be announced later this week (the ruling African National Congress is on track to lose its parliamentary majority for the first time in 30 years). Meanwhile, the Dalai Lama is in New York for medical treatment. A court-martial for the USS Mason was underway.

US stock futures were little changed. European markets were mixed. In Asia, markets were mostly higher. The dollar slipped. Yields fell. Oil fell. Gold fell. Bitcoin slipped. The markets are absorbing the news of a possible Trump conviction and a Federal Reserve rate cut. The dollar was steady. In commodities, oil is trading around $78 a barrel regaining some recent losses. US stock futures suggest a positive open. Meta is aiming to crack the code of enterprise AI.

Political Cartoon

Finally, the 2024 Marijuana Election Year special: This summer, federal prosecutors in Manhattan told a federal judge that cannabis is "still illegal." And the judge responded by ordering the termination of a lawsuit filed by two children who claimed they were denied medical treatment because their parents were medical marijuana cardholders.

Data and Indicators

S&P Core Logic Case-Shiller HPI (March, MoM): Actual 0.3% vs. Expected 0.3% from -0.6% (revised). S&P Core Logic Case-Shiller HPI (March, YoY): Actual 5.2% vs. Expected 5.0%. House Price Index (March, MoM): Actual 0.1% vs. Expected -0.1%. Dallas Fed Manufacturing Activity (May): Actual -19.4 vs. Expected -12.0.

In other news: Pakistan has secured a new loan from the IMF. Saudi Arabia's sovereign wealth fund has taken a passive stake of $509 million in four major US funds including BlackRock and State Street.

What's coming up: This week will see a number of important events, including the release of the latest beige book, key jobs data including the ADP National Employment Report, and the May jobs report for June. Manufacturing ISM data will also be releasedcars. Key earnings this week include those from CrowdStrike, Hewlett Packard, and United Health.

The Euro and the European Central Bank: Traders in the euro area will be watching the latest inflation data on Tuesday. The euro has fallen on the back of the European Central Bank's recent rate cut, which was announced at its June meeting. One key question is whether the recent string of rate cuts may ultimately weaken the euro, potentially driving imported inflation and limiting the scope for further easing. In addition, the ECB's quarterly bank lending survey showed that credit standards for businesses tightened slightly in the second quarter, while demand for loans remained weak.

On the rise: The crypto market is buoyant as Bitcoin once again approaches record highs. Ether is also trading close to multi-year highs. The rise comes amid increased institutional interest in digital assets global markets, with traders reporting increased anticipation of an ether ETF. People close to the matter report that the SEC may not approve the ether ETF. Given the fact that ether has been deemed a security by the SEC, ETFs that hold it would not be approved by the SEC.

Markets: US markets have been rising to records, driven by relatively benign inflation and a stable economic outlook. However, some investors are wary, given that markets have run ahead of the economic data. The S&P 500 is up around ×% over the past twelve months. Data from Citi suggests that there are growing concerns about the market being too concentrated in a small number of large-cap stocks. However, few are expecting a rapid unwind of the positions in some of the hottest trades.

today: The personal consumption expenditures price index for April, the Fed's preferred inflation gauge, is out on Friday. Economists expect a 2.7% annualized gain, a slight increase from March's 2.7% figure. The data is expected to be a critical data point for markets, and the hope is that it will not be too hotcars. A print at or below consensus would likely solidify expectations for a September rate cut.

Given the current market environment, the idea of pressing for further rate cuts seems a bit incongruouscars, especially with inflation running above the Fed's 2% target and the labor market still showing some strength. The argument that policy is already quite restrictive is compelling: the real federal funds rate is around 2.5%, which is a relatively high level in recent decades. However, the Fed's response to bank failures last year demonstrated its willingness to support the financial system.

The banking sector remains a point of tension because regional banks are much more vulnerable to deposit flight in a high-rate environment. That vulnerability could be a channelthrough which additional monetary policy tightening translates into financial instability. Meanwhile, commercial real estate is a growing concern for many regional banks: the latest data shows that nearly a third of all bank loans backed by commercial real estate are held by smaller lenders. And office defaults are on the rise amid high rates and the work-from-home trend.

Higher-for-longer rates could also pose risks for consumers, who have been resilient so far. Low-income households are starting to show signs of strain with credit card delinquencies rising to levels last seen during the 2008 financial crisis Foucault. According to the latest data, revolving consumer credit jumped $6.4 billion to $1.36 trillion in March, a record high.

More Market News: The US budget deficit has actually tightened over the past year, according to data from the Congressional Budget Office, even as politicians in Washington argue over the national debt. Weak tax receipts from a slowing economy and high interest rates are clashing as drivers of the long-term fiscal outlook. Many Institute for Supply Management surveys show US factory activity remains in contraction, but the details offer a few glimmers of hope.

As some cultural observers decry the supposed death of the Hollywood "summer blockbuster," there are signs that the 2025 box office is primed for a strong season, driven by a slate of potential hits including the latest installment of the Mission: Impossible franchise, Disney's live-action reimagining of Snow White, and the newest chapter in the Harry Potter universe, "Fantastic Beasts: The Secrets of Dumbledore. " However, major theater chains are still trying to figure out how to sustain ticket sales beyond a handful of event films.

Climate and Environment

Smoke from wildfires in Canada is affecting air quality in parts of the US, with some cities issuing health advisories for sensitive groups. The environmental impact of crypto mining is also drawing scrutiny. The second round of France's snap parliamentary elections takes place on Sunday. For more, you can listen to our podcast.

Companies in the news this week: Paramount Global is in exclusive talks with Skydance and Red Bird Capital. The US arm of the multinational design firm Stantec has been barred from bidding for work in the city of Seattle. A Delaware court will deliver a verdict in the case of a shareholder lawsuit against Tesla CEO Elon Musk regarding a disputed pay package, and a New York jury will decide whether the National Rifle Association misused funds.

A note on the markets: Cryptocurrencies like bitcoin and ethereum are recovering and moving higher. The global crypto market cap has increased by 0.9% in the last 24 hours.

From the 'Financial Times': Student protests in support of Palestinians continue on US campuses, and the promise of the International Criminal Court. Elsewhere, the impact of "elegant" Chinese cuisine on Chinese politics is explored.

Commentary and Analysis

• The Federal Reserve's signaling of a possible September rate increase shows that its work on inflation is not yet done.
• The US-encouraged deal giving BlackRock a majority stake in Panama's ports was not a simple business deal, but a strategic move to counter Chinese influence in Latin America.
• The lesson of the Great Depression is that the US is heading for a recession, not necessarily because of monetary policy, but because of the state of the economy.
• The US' new "billionaire tax" may sound appealing, but a closer look at the details suggests it is unworkable and would only raise minimal amounts of revenue.
• The NYT's deal with Google, worth $100 million over three years, could have a significant impact on the journalism business.

Insights & Analysis

The role of labor unionshas been on the ballot in several recent elections. The success of "Bridgerton" has sparked a "Regency-core" trend as Netflix builds on the series' success. An economist who studies regulation suggests that the securities regulator is not doing its job. A look at how the city of Karachi in Pakistan is battling severe heat and drought conditions.

Final Thoughts

The FT's series on "How to fix the internet" continues with an interview with Tony Blair's former adviser, who argues that the best way to deal with the tech giants is to force them to disclose their algorithms.

The Markets Today

After a rough couple of weeks for the UK markets, Labour has a significant lead in the polls. The question is whether this will be enough to restore the UK's reputation with international investors - and to see the London Stock Exchange re-rate.

Letters

The debate about whether "work from home" is a good or bad thing is ongoing Howard Schultz's suggestion that WFH is discriminatory against younger workers. PwC's decision to track employees' locations, which has been reported as an attempt to get staff to return to the office, is dangerous and un-British. Meanwhile, in the US, a federal appeals court has ruled against the Biden administration's student loan forgiveness program covering over 40 million borrowersro. (This is outstanding debt — it was never going to be paid back, and now it won't be.)

In other news, the US economy added 272,000 jobs in May, significantly above expectationscars trade war is not about to blow over. Beijing and Brussels are trying to defuse tensions over a planned EU tariff on Chinese EVs.

Global Markets

• European stocks fell in early trading, with London's FTSE 100 down 0.2%, Germany's Dax down 0.2%, and France's Cac 40 down 0.3%.
• Futures on the S&P 500, Nasdaq, and Dow Jones all edged up by around 0.1% to 0.2%.
• Asian markets, including Japan's Nikkei, ended the day mixed, while Hong Kong's Hang Seng fell. China's CSI 300 fell0.04%.
• The yield on the US 10-year Treasury note eased 2 basis points to 4.42%. The two-year yield was steady at 4.87%.
• Bitcoin rose. brigade commander to $68,700.
• Oil prices were up, with Brent crude trading around $81.70 a barrel.
• Gold was steady at around $2,327.67 an ounce.

The Big Story

For the first time since 1968, a British royal has been depicted in a portrait by an artist of color. The artist, Jonathan Yeo, was commissioned to paint King Charles III. But it's not just the art world that's seeing change. The UK's Financial Conduct Authority (FCA) has approved a new category of investment funds to boost investment in "unlisted" assets such as start-up companies and infrastructure. The bespoke funds, called "LTAFs" and available to pension funds, are an attempt to redirect capital towards growth companies. It is a bold experiment, and one that could have significant implications for the shape of the British economy.

Robert Shrum

has died at the age of. He was a seasoned political strategist who served as an adviser to numerous Democratic campaigns. A new book that examines the role of luck in success has also been published.

The Guardian's Brexit coverage continues

The European Union has raised the possibility of easing post-Brexit trade arrangements with the UK by 2026. Meanwhile, an activist group has filed complaints against several UK-based companies, including Nat West, claiming they are "driving the climate crisis" through their financing of fossil fuel projects. The UK's financial regulator has proposed new rules that would require companies to list their environmental, social, and governance (ESG) credentials on their London Stock Exchange listings. In the City, the debate around the new Labour government's proposed workers' rights reforms has sparked concerns about their impact on the UK's flexible labor market and the gig economy.

Around the World

China's manufacturing sector contracted for the first time in three months, while non-manufacturing activity also slowed. Australia's economy is growing at its slowest pace since the 1990s, with GDP expanding just 0.1% in the first quarter. India's election results dealt a blow to Narendra Modi's BJP, with the party losing its overall majority. With the country's markets having priced in a comfortable majority, the reduced margin could lead to concerns about a weaker mandate for economic reforms. South Korea's financial regulator will review whether to include single-stock exchange-traded funds in a new short-selling scheme.

Beijing is expanding its "marriage" of two of its biggest tech companies, as it encourages them to jointly develop a new "digital RMB" wallet. The app will link the payment apps of Alibaba and Tencent.

World

The election of Claudia Sheinbaum as Mexico's first female president brings both opportunities and risks for investors. While she is expected to continue the policies of her predecessor, a potential "super-majority" in Congress has markets concerned about the potential for rapid increases in public spending.

The markets

US stocks raced higher, with the House passing a bill that would impose new sanctions on the International Criminal Court. In a notable shift among regional banks, Valley Bank of Nevada announced a major expansion into New York City, with plans to open 10 new branches and hire 30-40 private bankers for a new wealth management business targeting the NYC market.

Conservative commentator and podcast host Ben Shapiro has taken a stake in the company that owns The Spectator, one of the world's oldest magazines. The billionaire who owns the parent company, Sir Paul Marshall, is a significant donor to the UK Conservative Party and has been ordered to stop buying newspaper and magazine assets by the regulator, on national security grounds.

美股市场: The week ahead on the data front includes the May jobs report due Friday, which is likely to be another strong number. A busy earnings lineup includes Nvidia, which could push the market's market capitalization above Apple's. Royal Caribbean, Hewlett-Packard, HP Enterprise, and United Health also report. Other events this week include wholesale inventories, international trade, and the Fed's Beige Book (Wednesday); Challenger job cuts, August vehicle sales, construction spending, and the ISM manufacturing index (Tuesday); and factory orders (Wednesday). The big US jobs report for May is due Thursday, a day earlier than usual, and is expected to show that the economy added 185,000 jobs, a slight uptick from April'ss 175,000. However, some economists believe there is a risk of a slowdown, which would increase the likelihood of a rate cut in September. The market is currently pricing in a 25 basis point cut by September. The FT's US employment data will be published at the customary time, on Friday. There are also updates on the US service sector, and on eurozone inflation, out on Tuesday.

Companies

The potential for a regime change in Britain is creating opportunities in some less-noticed corners of the London Stock Exchange, including Aim-listed companies, many of which are run by founders with track records of creating intrinsic value.

In a notable deal, the owners of the parent company of the Telegraph and Spectator magazines have reportedly reached an agreement with the UK government to change the ownership structure of the media group.

Vodafone and its Indian partner are preparing to invest heavily in 5G infrastructure.

US Earnings Calendar

This week's key earnings reports include: Vail Resorts, Nvidia, Intuit, and several others throughout the week.

From the News Desk

A rare earths company backed by the Pentagon has struck a deal to acquire a major US rival. In the UK, a prominent financier has sold a stake in an oil and gas company, following criticism over the industry's environmental record. Elsewhere, 'Rate shock' has delivered outsized gains for the UK government in recent years, according to an analysis of official data, raising questions about the sustainability of its public finances.

Opinion

Joe Biden's recent economic record is much stronger than Ronald Reagan's was at the same point in his presidency, but Americans' views of the economy are colored by their perceptions of the president, not the actual data.

The writer, Rana Foroohar, suggests that the quickest way to improve the economy is to dampen the widening wealth gap, which is fueling public discontent. Investing in public goods like childcare, healthcare, and education would reduce the cost of "essential" services that have ballooned in price over the past few decades. This could help repair the "vibecession" — the gulf between public sentiment and economic indicators.

In a separate column, she argues that the Democrats' registration of voters in New York is complicating the United States' ability to pressure Israel. There is also a growing sense of alarm in Washington about the wave of "paper" tariffs, which are being used to assess the impact of various trade policies.

The US Fed should not follow the central banks of other nations in cutting interest rates, given the lingering threats of inflation that could emerge once again. A recent sign: consumers are increasingly using buy-now-pay-later services to buy groceries and meet other basic needs, a potential sign of financial strain.

Highlights from the week

Last week, at the FT's Global Boardroom conference, we discussed the prospects for an Indian summer. At a 40-minute live event, I was joined by Gillian Tett, the FT's US editor-at-large and columnist, to analyze the election results in India and Mexico, and considered the implications.

This week: what the Fed's failure means for the rest of the world. President Biden's decision to impose a 100% tariff on Chinese EVs will make them more expensive for American consumers. The problem is that this could expose the US to other risks, such as those seen in the "flash crash" that hit the Japanese markets in August 2019.

How to Listen

I'm joined by the FT's US managing editor, Delphine Strauss. We discuss economics, the weight-loss drug boom, and for the markets, including the Federal Reserve's next move. Also, we examine the upcoming EU elections and the profound implications of the upcoming vote in Europe, and we speak with author Andrew Ross Sorkin about the "deals" that shape the global economy.

The editor of the Financial Times, Roula Khalaf, has selected her favorite stories for the weekly Editor's Choice newsletter. The FT's new podcast, "The Economics Show with Soumaya Keynes," airs every Thursday, and below is an episode from this week about the "vibecession" — the period of gloomy consumer sentiment despite a rosy economic outlook (it might be over).

Recommended newsletters

• FT Exclusive: The best of the week's reporting, opinion, and analysis.
• The Climate Graphic, a weekly analysis of climate change and the energy transition.

The FT and "Working from Home"

The FT's letter writers are always sharing their views on WFH in the letters page, and this week's missives have continued the debate. One reader argued that being in the office is important for younger workers who need to learn from more experienced colleagues, and that "the office is not just about work." Another said the pandemic showed that flexible working does not harm productivity ratios. Another argued that the current pressure to return to the office is nothing more than an attempt to justify large real estate holdings.