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Wholesale prices fell in June for the first time in 10 months largely due to lower gas prices, but it's unclear if the recent slowdown in inflation will persist in light of renewed hostilities between the U.S. and Iran.
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China reports lowest GDP growth in more than 3 years Financial TimesChina's Economy Grows at Slowest Pace in Years The New York TimesChina economic growth falls sharply, missing target BBCChina misses growth target for first time since Covid as Iran turmoil roils global trade CNNChina posts slowest quarterly growth since 2022 as investment slumps, fanning stimulus calls CNBC
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Trump administration scales back immigration crackdown after ICE shootings The Washington PostTrump says ICE should resume traffic stops after his own administration suspended them CNNTrump blasts DHS decision to pause immigration traffic stops PoliticoFatal ICE shootings spur a halt in vehicle stops and thousands hit by diarrhea bug: Morning Rundown NBC News
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The United States reinstated its blockade on Iranian ports in the Strait of Hormuz and shipping slowed to a crawl amid the renewed warfare in the critical waterway.
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Asian stocks gain on drop in US inflation rate ReutersBig Banks' Profits Surge in Red-Hot Quarter WSJStocks gain on softer inflation, bank results while oil rises on US-Iran hostilities Yahoo FinanceAsian shares rise after rally on Wall Street as data show US inflation slowing 10TVA Mar
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That second-quarter growth came below Beijing's full-year growth target range of 4.5% to 5%, the least ambitious goal in decades.
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JPMorgan blew past earnings expectations for the second quarter, as CEO Jamie Dimon said markets are booming.
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