Trump Boasts About Ramped Up Embargo on Cuba: ‘There’s No Oil, No Money, No Anything’

ADP Reports US Economy Added The Most Jobs In 16 Months In May Following a shockingly strong JOLTS report, ADP just reported a stronger than expected rise in jobs added in May. ADP says 122k jobs were added in May - better than the 120k expected - and the biggest monthly addition since January 2025 Source: Bloomberg "Hiring was more broad-based in May than we've seen in the last few years," said Dr. Nela Richardson, Chief Economist, ADP. "The labor market continues to show sustained momentum going into the summer hiring season." Small businesses added...

Inflation Fears Fade As War Drags UMich Sentiment Lower After rebounding solidly in January and February, expectations were for a modest decline in UMich Sentiment in preliminary March data and analysts were right but the 55.5 print (from 56.6 prior) was better than the 54.8 expected. Current Conditions actually improved, surprising to the upside (57.8 vs 56.6 prior vs 54.9 exp) Expectations fell more than expected (54.1 vs 56.6 prior vs 54.5 exp) Current Conditions are at their highest level since October while expectations are at their lowest since November. Source: Bloomberg Interviews for this...

U.S.-Iran Deal Doesn't Mean A Swift Return Of Oil And Gas Flows Authored by Tsvetana Paraskova via OilPrice.com, A U.S.-Iran agreement could reopen the Strait of Hormuz, but shipping and production will not immediately return to normal. More than 10 million bpd of Middle Eastern oil production has been shut in, and some fields may take months to restart fully. Iraq faces a slower recovery than Saudi Arabia or the UAE because its southern exports depend heavily on access through Basrah. The U.S.-Iran deal and the potentially imminent reopening of the Strait of Hormuz...