🏛University of Michigan May Consumer Survey Report shows US 🇺🇸 Consumer Confidence Index drops to six-month low at 67.4.

The report also reveals rising consumer inflation expectations for the next year.

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🇺🇸 President Biden's $7.5 billion investment in electric vehicle charging has only produced 7 stations in two years, Washington Post reports.

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🇺🇸 US to impose 100% tax on 🇨🇳Chinese electric vehicles imported into the country - Financial Times

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🇨🇳 Chinese Stocks now trading at 9-month highs

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📣 OpenAI has been showing some of its customers a new multimodal AI model that can both talk to you and recognize objects - The Information

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🇺🇸 President Biden's $7.5 billion investment in electric vehicle charging has only produced 7 stations in two years, Washington Post reports.

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Income tax in European 💶 countries

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🇷🇺 Russia finds vast oil and gas reserves in British Antarctic territory

The discovery is estimated at 511 BILLION barrels of oil – about 10x the North Sea’s entire 50-year output.

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🇺🇸U.S. ECONOMIC DATA THIS WEEK:

PPI INFLATION (TUES.)
CPI INFLATION (WED.)
RETAIL SALES (WED.)
NY FED MANUFACTURING INDEX (WED.)
JOBLESS CLAIMS (THURS.)
PHILLY FED MANUFACTURING INDEX (THURS.)
BUILDING PERMITS (THURS.)
HOUSING STARTS (THURS.)
INDUSTRIAL PRODUCTION (THURS.)

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🇺🇸 Donald Trump promises major tax cuts for all Americans if elected president. 

"Instead of a Biden tax hike, I'll give you a Trump middle class, lower class, business class, big tax cut. You're gonna have the biggest tax cut.".

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🇷🇺 Russian firms purchased $4 billion worth of weapons from India and paid in 🇮🇳 Indian rupees, reflecting a move towards de-dollarization.

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🇺🇸 58% of Americans say that they disapprove of President Biden's handling of the economy, according to a Financial Times poll.

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📣 HSBC expects Fed to cut interest rates once this year

HSBC: The Fed's forecast for interest rate cuts this year is revised from 75bp (3 times) to 25bp (1 time).

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🚨🚨🚨 Gamestop, $GME, short sellers have lost $1 billion in the first hour of trading today - CNBC

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BREAKING: 🚨 Thousands of users are reporting that E-Trade is down just as Gamestop, $GME, rises over 100%.

Many users have been unable to log into their accounts since the stock market opened.

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✈️ Emirates airline reports a RECORD profit of $4.6 billion

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🇯🇵 SoftBank Vision Fund posts first annual gain in 3 years, up $4.6 billion

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