#us-economy

#us-economy

The Trump administration warns of complete disaster for the U.S. economy if its reciprocal tariffs are struck down, showing great concern over an upcoming court ruling.

The number of operating US oil and gas rigs held flat at 539 last week, hovering near four-year lows and down 47 rigs in the last 12 months.

Researchers at Pantheon Macroeconomics found that AI-related spending accounted for a 0.5 percentage point difference in annualized GDP growth for the first half of the year.

"U.S. producer prices surged 0.9% m/m in July, far exceeding expectations of 0.2% and marking the largest monthly gain since June 2022. On an annual basis, PPI rose 3.3%, up from 2.4% in June, while core PPI jumped to 3.7% from 2.6%. The data shattered forecasts across the board, underscoring the inflationary impact of recent tariff policy and justifying Fed caution regarding rate cuts," George Vessey of Convera told clients this morning.

"Descriptive evidence shows that goods categories heavily exposed to imports have indeed experienced sizable price increases since the beginning of this year, relative to their prior trends."

Higher U.S. tariffs against a host of trade partners went into effect on Thursday, raising concern over economic activity and demand for crude oil.

The U.S. economy is experiencing a noticeable slowdown in mid-2025, with sluggish domestic demand growth and muted job gains, highlighting significant economic challenges ahead.

Palantir's revenues soared nearly 50% to almost $1 billion and net income increased 144%, boosting investor confidence in AI’s role in tech growth and job reduction.

Today's GDP reading was stronger than expected, but much like the first quarter data-which showed a modest decline in economic activity-the details really matter. Put simply, the first quarter wasn't as bad as the headline figure implied, and this quarter isn't quite as strong as implied in the data.

"They got the 15% rate because they were willing to provide this innovative financing mechanism," he told Bloomberg TV on Wednesday, when asked if other countries could get a similar rate.

U.S. President Donald Trump signed the GENIUS Act to create a regulatory regime for U.S.-dollar-pegged cryptocurrencies, facilitating their use for payments and money transfer.

Diane Brady highlights how the U.S. economy remains resilient despite the ongoing tariff wars. Market reactions indicate mixed sentiments about future leadership, like fears surrounding President Trump's potential actions against Federal Reserve Chair Jerome Powell.

Trump's tariffs, the highest since the 1930s, have resulted in $64 billion in new revenue for the U.S. in the second quarter, a $47 billion increase over the previous year.

Gelsinger emphasized that while American companies are making significant breakthroughs in technology, the challenge lies in scaling these innovations, which requires patient, long-term capital typically unavailable from traditional financing.

Donald Trump announced a new trade pact with Indonesia to avoid a 32% tariff, resulting in a commitment for $19.5 billion in purchases of US goods.