US Existing Home Sales Unexpectedly Jumped In May, Inventories Surge

US, Iran Agree To Meet For Talks In Pakistan Friday As Both Declare 'Victory'; Saudi East-West Pipeline Hit By Drone Summary:  The Hegseth/Caine presser as expected declared 'victory' in Iran while Gen. Caine emphasized the ceasefire is a "pause" but US forces remain "ready to resume combat." Hegseth says "military will be hanging around in Iran, won't go anywhere, and will make sure Iran complies. Pentagon is trying to put a bow on Operation Epic Fury. US, Iran agree to meet for first direct talks in Islamabad Friday, Pakistan PM Sharif announces. Iran meanwhile...

China Curbs US Investment In Tech Companies After Meta Acquisition Of Manus Following earlier news that China has blacklisted 7 EU defense and aerospace firms over their dealings with Taiwan, Bloomberg reports that China plans to restrict top technology firms, including leading AI startups, from accepting US capital without government approval.  Chinese regulators, including the National Development and Reform Commission, have recently instructed several private technology firms to reject U.S. investment in funding rounds unless explicitly approved, ​the report said. The commission - a powerful state planning agency with broad policy-making powers -...

Dry Van Spot Rates Highest Since 2022 As Spring Tightens Capacity Submitted by FreightWaves, The freight market momentum is building at a rapid clip. National dry van spot rates — tracked via the SONAR National Truckload Index, the 7-day moving average of booked rates including fuel — have broken out to a new cycle high of $2.89 per mile. This represents the strongest level since 2022 and confirms the market’s shift toward carriers is gaining real traction. Even more telling: rates jumped $0.12 per mile in the past week alone. That’s a sharp...