Ship Traffic Through Hormuz Chokepoint Continues As Normalization Efforts Remain "Fragile"

ADP Employment Report Signals Biggest Job Additions In 15 Months In April With non-farm payrolls looming, we get another glimpse at the labor market today from the ADP Employment Report which shows the US economy added 109k jobs in April (a slight disappointment relative to +120k exp). That is the tenth straight month of job additions and strongest monthly addition since January 2025... Source: Bloomberg Under the hood, Goods-producing jobs rose 15,000 while Service-providing jobs rose 94,000. "Small and large employers are hiring, but we're seeing softness in the middle," said Dr. Nela Richardson Chief Economist,...

Trump Greenlights Saudi Nuclear Deal, Uranium Enrichment In The Kingdom Possible President Trump has formally approved a landmark 30-year civil nuclear cooperation agreement with Saudi Arabia that could be worth tens of billions of dollars and put American companies at the center of the kingdom's nuclear buildout, according to the Wall Street Journal. The accord is expected to be signed Wednesday by US Energy Secretary Chris Wright and Saudi Energy Minister Prince Abdulaziz bin Salman, then head to Congress for a 90-day review. Lawmakers could block it through a joint resolution,...