Author: Jamie Carpenter

President says 70% duties coming as trade deals stall President Donald Trump announced Thursday that his administration will begin reinstating tariffs of up to 70% on imports from dozens of countries starting Friday, citing the slow progress of trade negotiations ahead of the July 9 deadline. Speaking to reporters at Andrews Air Force Base, Trump said the White House would send out letters to 10 to 12 countries at a time, targeting nations that have not yet finalized trade deals with the United States. The tariff levels will vary between 10% and 70%, depending on the country and the status…

Government hiring props up June job gains amid headwinds U.S. employers added 147,000 jobs in June, surpassing expectations, but nearly half of those came from government hiring, raising concerns about the strength of the private sector. The Labor Department’s report, released a day early due to the holiday, showed the unemployment rate dropped to 4.1%, largely due to a shrinking labor force. Private-sector job creation slowed to just 74,000 positions, the weakest since October 2024, while government employment surged by 73,000. Economists say the gains in state and local education are likely seasonal and could reverse in July. Federal jobs…

ISM index rises to 50.8 in June, signaling fragile growth Activity in the U.S. services sector picked up modestly in June as new orders rebounded, according to data released Thursday by the Institute for Supply Management (ISM). The nonmanufacturing PMI rose to 50.8 from 49.9 in May, slightly above economists’ expectations of 50.5. A reading above 50 indicates growth in the sector, which makes up more than two-thirds of the U.S. economy. The rise in activity suggests resilience in services demand despite continued macroeconomic uncertainty. However, the employment component of the index fell again, marking the third contraction in hiring…

Andy Jassy says generative AI will automate tasks and reshape jobs Amazon CEO Andy Jassy said artificial intelligence is already reshaping how work gets done at the company and will soon alter its workforce composition. In a recent interview with CNBC’s Jim Cramer, Jassy emphasized that AI will both eliminate routine roles and open new opportunities in advanced tech fields like robotics and machine learning. “There will be fewer people doing some of the jobs that the technology actually starts to automate,” Jassy said, noting that AI is streamlining coding, analytics, and research functions. He added that this shift makes…

Foldables, wearables and more expected at summer showcase Samsung has confirmed that its next Galaxy Unpacked event will take place on July 9 at 10AM ET, marking the company’s third major product reveal of 2025. Following earlier unveilings of the Galaxy S25 series and the Galaxy S25 Edge, this mid-year showcase is expected to highlight new foldables, smartwatches and possibly more. According to leaks and the company’s past release pattern, Samsung is poised to introduce the Galaxy Z Fold 7 and Galaxy Z Flip 7. One recent report suggests that Gemini Live—Google’s advanced AI assistant—will be deeply integrated into the…

‘Jurassic World Rebirth’ takes the actress from city life to scorpion-filled jungles Scarlett Johansson has officially joined the legendary Jurassic Park franchise — a dream nearly three decades in the making. The star of the upcoming Jurassic World Rebirth shared her excitement and behind-the-scenes stories in a recent interview on NBC’s “TODAY.” “It was a childhood dream of mine to be in this movie,” Johansson said. “I’ve been trying to get in the ‘Jurassic’ universe for three decades.” A childhood dream turned reality In Jurassic World Rebirth, Johansson plays Zora Bennett, a tough-as-nails mercenary leading a covert mission to retrieve…

Analysts see 40% upside for Google’s parent despite YTD dip Alphabet (GOOGL), the parent company of Google, remains one of the most dominant players in tech with a market cap of $2.17 trillion. Despite a 6.3% decline in stock price year to date—underperforming the Nasdaq’s 5.3% gain—analysts remain bullish on the stock’s long-term potential. Strong fundamentals, multi-segment growth, and aggressive AI investments have positioned Alphabet as a top-tier growth opportunity. A diversified growth engine with AI at the core Alphabet’s business spans several high-growth verticals. Google Search continues to be its primary revenue generator, enhanced by AI Overviews now reaching…

Trade tensions and U.S. debt worries weigh on greenback The U.S. dollar extended its losing streak Monday, hitting a near four-year low against the euro and declining across major currencies as concerns over America’s ballooning deficit and trade uncertainty continued to rattle markets. Senate Republicans are pressing forward with President Donald Trump’s sweeping tax and spending bill, despite internal divisions over its projected $3.3 trillion impact on national debt. The dollar dropped 0.63% to 0.79355 against the Swiss franc, on track for a 3.6% monthly decline. Year-to-date, the greenback has lost about 12.5% against the Swiss currency. Against the euro,…

Lower capital hits signal easing regulations under Trump America’s 22 largest banks, including JPMorgan Chase, Bank of America, and Goldman Sachs, passed the Federal Reserve’s 2025 stress test, clearing the way for potential dividend hikes and share buybacks. The test results, released Friday, show that even under a hypothetical severe recession, these institutions remain well capitalized. The Fed’s scenario simulated a sharp downturn, with unemployment soaring to 10%, GDP plunging 7.8%, and housing prices falling 33%. Despite these conditions, banks would lose over $500 billion but face a smaller hit to capital compared to previous years. The aggregate Tier 1…

Chipmaker regains title as world’s most valuable company Nvidia stock rose for the fifth straight day Friday, closing at another all-time high and solidifying its position as the world’s most valuable company. The rally comes as investors shake off concerns about China export restrictions and refocus on artificial intelligence growth. Shares of the AI chip leader have surged 66% since their 52-week low in early April, lifting Nvidia’s market capitalization to roughly $3.8 trillion—placing it ahead of Microsoft and Apple. The stock gained more than 9% this week alone. According to Wedbush Securities analyst Dan Ives, both Nvidia and Microsoft…