US inflation likely edged up slightly in May, offering limited insight into tariff impacts. Jerome Powell will testify on Capitol Hill, reiterating the Fed’s cautious approach amid uncertainty about trade policy’s economic effects. While rate cuts remain possible, officials seek more clarity. The report will also provide insights into household spending, personal income, and consumer confidence.
Global Market Today: Asian stocks slip on AI woes, oil extends drop
Asian stocks dipped, mirroring a global tech sell-off fueled by concerns that the AI rally has overheated. Investors are questioning sky-high valuations amid rising costs