Draft Of US-Iran Agreement Reportedly Reached, But Trump Still Pressing Nuclear Issue, As Iran President Says 'Won't Back Down'

California Has Gay-Certification Program To Tap Into $633 Million For "LGBT" Businesses Authored by Christopher F. Rufo & Austen Hufford via City Journal, Americans are used to handouts for favored groups. Affirmative action in university admissions, corporate “diversity” initiatives, and minority-owned contracting requirements direct opportunities, resources, and contracts to supposedly “oppressed” groups, such as women, Native Americans, blacks, and Hispanics. In California, state Democrats have embraced another kind of favoritism: contracts for state-certified gay-owned businesses. The scheme operates through the California Public Utilities Commission (CPUC), which regulates privately owned utility companies. California utilities...

As Stocks Hit Record Highs, Americans' Consumer Confidence Collapses To Record Low With the "mini war" still ongoing (albeit with a 'ceasefire' in place), expectations were for UMich consumer sentiment to continue languishing at record lows in final May data released this morning. And it did, with the headline sentiment - along with both Current Conditions and Expectations - all plunging to record lows... Source: Bloomberg Yep... Americans have never been more miserable... Black Friday, meh; 9/11, nothingburger; GFC, fleshwound... “The cost of living continues to be a first-order concern, with 57% of consumers spontaneously...

US Gasoline Inventories Plunging On Surging Exports, Resilient Demand Prompt Brent/WTI crude nearby futures increased by 5/7% week-over-week to $105/101 as flows through the Strait of Hormuz remained very low and on limited signs of progress on a US-Iran deal. Meanwhile, as global oil inventories collapse at a record pace yet sliding Chinese demand and strategic releases from Beijing keep crude prices relatively stable, Goldman writes that the US gasoline market has become very tight, with inventories drawing at a rapid average pace of 0.7mb/d since April 1st to 5% below their...