75% Of US GDP Growth In The First Quarter Was Due To AI

Israeli drone strikes against southern Lebanon have killed at least six people today and wounding at least three others. The Health Ministry has increased the overall toll since the Israeli invasion began in March to over 3,040 killed. The largest strike was against the village of Kfarsir, where an airstrike hit a house and killed […]

Consumers More Optimistic On Jobs, Financial Conditions, Stock Prices As Inflation Eases: NY Fed Survey Unlike recent extremely volatile months, consumers expectations for inflation in July barely budged as disclosed today by the latest NY Fed Survey, which showed that inflation expectations in one year fell slightly to 3.6% from 3.7% prior. Estimates for price increases in three and five years remained at 3.3% and 3%, respectively, although the 3Y inflation forecast did dip notably, if not enough to move it by a significant digit.  Gas price growth expectations rebounded partially...

COSCO Denies US Claims Its Container Ships Serve As Beijing's Global Spy Network China's state-owned shipping giant COSCO rejected a report published last week alleging that the company had concealed advanced surveillance equipment aboard its cargo ships to monitor US military communications near the coastlines of target nations, including the US. Reuters quoted COSCO on Friday as calling the allegations "totally unfounded" and false. What Reuters reported on Tuesday: The officials, who spoke on condition of anonymity to discuss the U.S. assessment of the Chinese program, said COSCO has a decades-long intelligence-collection partnership...