IMF improves global economic growth forecast to 3.2%; new housing construction plummets in March; UnitedHealth beats earnings forecasts despite ransomware attack; Bank of America’s profit falls amid high interest rates.

A strong U.S. economy expected to pull up the rest of the globe

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News

Consumer prices rose at an annual rate of 3.4%, a small decrease from March; retail sales were flat in April, as bargain-hunting shoppers held back; Justice Department says Boeing has breached deferred prosecution agreement; IEA trims global oil demand growth forecast.

Inflation moderated slightly in April

Stocks rise; services prices push up Producer Price Index; Biden Administration announces new tariffs on certain Chinese imports; new tariffs could put pressure on prices.

Producer prices rise in April

The producer price index rose 0.5% in April; Stellantis forms joint venture with China’s Leapmotor; U.S. regulators launch probe of Waymo vehicles; Home Depot sales fall.

Inflation at the wholesale level picked up steam

Stocks close mixed; people’s spending and income expectations pick up; Kraft Heinz reportedly thinking about selling off Oscar Meyer; inflation data due this week.

Consumer inflation expectations pick up in April

Massachusetts is suing asking for workers to be classified as employees; Johnson & Johnson selling off remaining stake in consumer business; TV ‘upfronts’ begin to lure advertisers; Mercedes-Benz workers in Alabama begin unionization vote.

A strong U.S. economy expected to pull up the rest of the globe

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