Kyle Grillot

The article provides an analysis of the US Consumer Price Index (CPI) report for May. It references a shopper at a grocery store in Dayton, Ohio, as an example of consumer activity.

High gasoline prices at $4.50 per gallon are forcing consumers to reduce discretionary spending, including fewer nights out and increased budget constraints. The article examines the economic impact of elevated fuel costs on consumer behavior and household finances.

US crude inventories have dropped by the most on record due to a surge in exports, amid the ongoing US-Iran war. The country is facing pressure to meet global demand as a top crude exporter. Oil traders are hedging against uncertain outcomes tied to US inventories.

Goldman Sachs predicts the Federal Reserve will delay interest rate cuts until December or March due to inflation concerns. This forecast suggests a cautious approach by the Fed amidst economic uncertainty. The decision is anticipated to impact the economy and financial markets.

The US and Iran are considering a fresh proposal to end their war, which has been ongoing for nearly three months. Oil traders are watching the situation closely as it affects global demand and US inventories. The conflict is putting pressure on the top crude exporter to meet demand.

GE Vernova's shares rose due to strong orders and a surge in power demand. The company is manufacturing gas turbines at a data center in Abilene, Texas.

A Stargate AI data center is under construction in Lordstown, Ohio, as part of a collaboration between SoftBank, OpenAI Inc., and Oracle Corp. The project involves repurposing a former auto plant to manufacture data center equipment. The initiative focuses on testing an advanced data center design.