Abbott Laboratories is opening its factory back up in Michigan.  Baby Formula shortages might be coming to an end.  China might be getting close to signing the biggest trade deal.  Finally, Joe Biden is canceling his trip to Saudi Arabia but two delegations are going to the United States on June 15.  There is a chance they might be speaking to Joe Biden.  

Starbucks has set up a 1 million fund to help cover the Starbucks workers who go on strike to unionize.  IRS to get more people hired so that they can audit people who are considered high net worth individuals.  The biggest job cuts in the tech sector since December of 2020 recently happened.  Microsoft lowered its guidance for the upcoming quarter due to exchange rates according to the company.  Finally, OPEC+ is looking to increase their production of oil and there is a chance that Joe Biden will go to Saudi Arabia in order to talk to OPEC+ about oil production.  

The Streaming war is now hitting hits phase two according to CNBC.  According to Foxconn things are not as bad for Apple when it comes to making their products.  $700 million dollars worth of aid was sent to Ukraine.  What is in this most recent aid package?  Finally, the job market remains hot.  However, Jamie Dimon says that there are storm clouds ahead and he is not sure what type of storm is coming for the market.  

Biden speaks with Powell on how to control inflation, Yellen talks about how she was wrong about inflation from a year ago and there are talks about Build Back Better again.  Americans are delaying their retirement due to inflation.  Finally, Russia and the EU are having news about Oil.  The EU is cutting supplies from Russia and Russia says they will find someone else to buy their oil.  

Google to back India ShareCaht in $300 million funding.  People and businesses are packing up and leaving Hong Kong for Singapore.  The War with Russia and Ukraine is causing Insurance to go up while at the same time it's changing the oil markets.  Finally, there are talks of a Recession on Wall Street.

Reckitt is trying to tighten its grip on the U.S. baby formula market.  Reckitt is trying to take the number one spot in the U.S. since Abbott had to shut down production.  SEC is looking into Elon Musk because he apparently filled out the wrong paperwork when he decided to buy out Twitter.  In reality, it just seems like his plans changed and he had to fill out different paperwork each time.  Car sales might be in the decline on Memorial Day weekend, and gas prices are causing people to stay home this weekend.  Finally, the Fed believes that inflation could be slowing down and Goldman Sachs believes that it will top soon.  Goldman Sachs also believes that once it tops, the stock market will go higher based on past trends.  

Carl Icahn loses proxy fight with McDonalds.  Carl Icahn claimed that the company was not taking care of its agreement in social justice even though Icahn did not attend the proxy vote.  Broadcom to buy VMware for $61 billion dollars.  U.S. retailer earnings show chasm among shoppers as inflation surges.  U.S. labor market is hot, but declining profits cast a shadow over the economy and Microsoft is being more cautious when it comes to hiring new talent.  

According to the Commerce Department, U.S core capital goods orders growth slows in April.  SpaceX Starlink has reported that they now have 400,000 subscribers globally and it expects it to continue to grow this year.  Hedge Fund Elliot Chases Oil and Gas Deals, Wall Street is paying attention.  Finally, both Ukraine’s foreign minister and Saudi finance minister are both saying that their will be a food crisis in the MENA (Middle East and North Africa) region, and potentially the wider world.  

Yesterday the market took a dive with reports that have caused Wall Street to start to question the market.  It is being reported that we are now in a bear market.  Snap Chat reported earnings yesterday and their stock fell about 40% while other social media platforms took a hit on Wall Street as well.  Ford has agreed to pay 19.2 million dollars on false advertising for their cars.  Finally, food shortage is still happening as its being reported right now that some governments are hoarding food, India will not be exporting as much sugar this year as it did last year.

Best Buy just reported earnings and they were not as bad as Wall Street was expecting.  Mcdonald's and Starbucks are officially pulling out of Russia.  JPMorgan rallied 6% on interest outlook despite Wall Street questioning if JPMorgan is able to make money or not going forward.  Finally, an analysis believes that the World Economy has a buffer even with a recession.  Even though China is still having their lockdowns.  Is this wishful thinking or are they right?