* CDC says vaccinated Americans can go maskless in most settings
* Fighting in Gaza intensifies as Israeli ground forces launch attacks
* Fed governor Christopher Waller predicts inflation surge will be temporary
* Colonial pipeline paid roughly $5 million to ransomware attackers
* US Producer Price Index rose sharply in April
* US jobless claims continued to slide last week, dropping to new pandemic low:
The US Consumer Price Index surged in April, topping estimates by a wide margin. The question is whether this is the start of an inflationary wave or just the latest run of noise?
* Deadly conflict continues between Israel and Palestinian militants in Gaza
* Colonial Pipeline restarts operations after ransomware attack closed system
* GOP Senate Leader: ‘good chance’ of deal with Biden on infrastructure
* US budget deficit jumps to record $1.9 trillion in first seven months of fiscal year
* Tesla CEO Elon Musk: car maker stops accepting bitcoin for car purchases
* Atlanta Fed business inflation expectations continue to rise in May
* How long does ‘transitory’ inflation last?
* US consumer inflation surged in April — 4.2% annual rate is highest since 2008:
As trend-watching goes, there was only way to cast your gaze today: down. The selling wave left almost no place to hide in risk assets. The catalyst, at least, is no mystery, or so it appears: higher inflation.
It’s been a year of trading places for performance outliers in the US equity sector space. The formerly high-flying tech sector is now the laggard while energy stocks continue to hold the lead, based on a set of ETFs through May 11.
* Israel-Palestine conflict continues to escalate, sparking fear of new war
* Today’s US inflation report for April is expected to show sharp increase
* Signs of panic buying of gas along East Coast after pipeline shuts down
* Major US fuel pipeline moving closer to reopening
* US detentions at border rose to highest in two decades in April
* UK economy fell 1.5% in the first quarter but rebounded in March
* Small business optimism rose in April but report trouble hiring workers
* US job openings soared in March, but hiring remained relatively subdued:
The world is awash in efforts to model a theoretical value for the stock market – the CAPE ratio, for example. But while the equities hog much of the attention on this front, similar analytics for the world’s most important interest rate are no less valuable.
* Republicans set to remove Liz Cheney from House leadership position today
* Israel unleashes airstrikes on Gaza for second day
* US ship fired warning shots at Iranian boats in another encounter in Persian Gulf
* China’s factory gate prices rose at fastest rate in over three years in April
* Will progressive groups derail a second term for Fed Chair Powell?
* China’s population grows at slowest pace in decades
* Pipeline shutdown triggers worries that gasoline prices may surge
* Gasoline price mostly steady as key fuel pipeline in US remains offline:
Rallies broke out across nearly all the major asset classes last week, based on a set of exchange traded funds. The lone exception: US real estate investment trusts (REITs), which posted the only setback for the trading week through Friday, May 7.
* Major US fuel pipeline closed for third day after cybersecurity attack
* Consumers feeling pinch of higher prices for goods and services
* Weak jobs report creates challenges for Biden’s policy agenda
* GOP set for week of fierce leadership battles in House
* Cryptocurrency industry hires lobbyists as regulations loom
* US dollar’s share of world’s foreign reserves fell for fifth straight year in 2020
* US payrolls post sharply weaker-than-expected gain for April
* US dollar dropped to lowest level in more than two months on Friday:
