U.S. consumer sentiment has plunged to a new record low, as soaring gas prices and tariffs stemming from the Iran war weigh heavily on Americans' outlook. In major corporate news, a deal pushed by the current administration will see Intel manufacture chips for Apple, causing Intel's stock to surge to an all-time high. Despite the grim consumer outlook and volatile oil prices, the U.S. labor market showed resilience, with job growth beating expectations in April.

A news podcast encapsulating the most salient market news, brought to you by Finextra Pro and powered by Communify.

Open Finextra Pro now!