BREAKING: Iran says the Strait of Hormuz will remain closed long-term for both the US and Israel.
US oil prices have officially marked their highest close since June 2022.
US oil prices have officially marked their highest close since June 2022.
BREAKING: SpaceX has boosted its target IPO valuation to above $2 trillion, per Bloomberg.
This would make SpaceX bigger than all but 5 companies in the S&P 500.
This would make SpaceX bigger than all but 5 companies in the S&P 500.
US household exposure to the stock market has never been higher:
Equities now make up 25.63% of total US household net worth, the highest since data began in the 1940s.
This surpasses the 2000 Dot-Com Bubble peak of 19.56% and the 1968 high of 22.01%.
The percentage has almost TRIPLED since the 2008 Financial Crisis low of 8.77%.
This means a significant correction in stocks could trigger a sharp pullback in spending, particularly among higher-income households who drive a significant part of consumption.
Consumer expenditures currently represent ~69% of US GDP, near an all-time high.
The US economy has never been more dependent on stock market performance.
Equities now make up 25.63% of total US household net worth, the highest since data began in the 1940s.
This surpasses the 2000 Dot-Com Bubble peak of 19.56% and the 1968 high of 22.01%.
The percentage has almost TRIPLED since the 2008 Financial Crisis low of 8.77%.
This means a significant correction in stocks could trigger a sharp pullback in spending, particularly among higher-income households who drive a significant part of consumption.
Consumer expenditures currently represent ~69% of US GDP, near an all-time high.
The US economy has never been more dependent on stock market performance.
BREAKING: The US will likely target more bridges in Iran after conducting their first strike on an Iranian bridge today just hours after President Trump threatened to bomb the country "back to the Stone Ages," per Axios.
Details include:
1. Trump has said the US could conduct such attacks to "punish" the Iranian government if it won't cut a deal
2. US defense officials claim the strike on the bridge was conducted for military purposes to prevent the IRC from moving weapons across the bridge
3. The Iranian mission to the UN said that the attack on the bridge was part of a series of US and Israeli strikes against civilian targets in Iran
4. Iran's Foreign Minister says "striking civilian structures, 'including unfinished bridges,' would not convince Iranians to surrender"
The Iran War appears to be escalating again.
Details include:
1. Trump has said the US could conduct such attacks to "punish" the Iranian government if it won't cut a deal
2. US defense officials claim the strike on the bridge was conducted for military purposes to prevent the IRC from moving weapons across the bridge
3. The Iranian mission to the UN said that the attack on the bridge was part of a series of US and Israeli strikes against civilian targets in Iran
4. Iran's Foreign Minister says "striking civilian structures, 'including unfinished bridges,' would not convince Iranians to surrender"
The Iran War appears to be escalating again.
US government job openings are falling:
Government job openings dropped -51,000 in February, to 701,000, the 2nd-lowest since December 2020.
Since the 2022 peak, available vacancies in the government have dropped -524,000 and are now in-line with the pre-pandemic levels.
Furthermore, federal government job openings fell -3,000, to 89,000, the 2nd-lowest since the 2020 pandemic low.
This is also in-line with the lows recorded in 2017 and 2018.
Meanwhile, the government hiring rate stood at 1.4%, one of the lowest levels since mid-2020 and matching the 2016 and 2017 lows.
Government hiring is frozen.
Government job openings dropped -51,000 in February, to 701,000, the 2nd-lowest since December 2020.
Since the 2022 peak, available vacancies in the government have dropped -524,000 and are now in-line with the pre-pandemic levels.
Furthermore, federal government job openings fell -3,000, to 89,000, the 2nd-lowest since the 2020 pandemic low.
This is also in-line with the lows recorded in 2017 and 2018.
Meanwhile, the government hiring rate stood at 1.4%, one of the lowest levels since mid-2020 and matching the 2016 and 2017 lows.
Government hiring is frozen.
Forward-looking data points to a further increase in US unemployment:
The gap between consumers saying jobs are "plentiful" versus "hard to find" is down to just 5.8 points in March, the lowest since the 2020 pandemic.
This comes as just 27.3% of consumers say jobs are “plentiful," down from ~55.0% in 2022.
At the same time, 21.5% say jobs are "hard to find," up from ~10.0% over the same period.
Historically, this measure has been one of the most reliable leading indicators of rising unemployment.
Furthermore, current levels in this indicator have only been seen prior to or during a US recession since the 1990s.
The job market is set for even more weakness.
The gap between consumers saying jobs are "plentiful" versus "hard to find" is down to just 5.8 points in March, the lowest since the 2020 pandemic.
This comes as just 27.3% of consumers say jobs are “plentiful," down from ~55.0% in 2022.
At the same time, 21.5% say jobs are "hard to find," up from ~10.0% over the same period.
Historically, this measure has been one of the most reliable leading indicators of rising unemployment.
Furthermore, current levels in this indicator have only been seen prior to or during a US recession since the 1990s.
The job market is set for even more weakness.
BREAKING: 50% of Iran's missile launchers and thousands of attack drones remain intact and in Iran's arsenal despite daily US-Israeli strikes, per CNN.
US intelligence also shows a "large percentage" of Iran’s coastal defense cruise missiles intact, allowing them to keep the Strait of Hormuz closed.
US intelligence also shows a "large percentage" of Iran’s coastal defense cruise missiles intact, allowing them to keep the Strait of Hormuz closed.
PRESIDENT TRUMP JUST NOW:
"With a little more time, we can easily open the Hormuz Strait, take the oil, and make a fortune. It would be a ‘gusher’ for the world."
It's going to be an eventful weekend.
"With a little more time, we can easily open the Hormuz Strait, take the oil, and make a fortune. It would be a ‘gusher’ for the world."
It's going to be an eventful weekend.
BREAKING: The US economy adds 178,000 jobs in March, crushing expectations of 65,000.
The unemployment rate fell to 4.3%, below expectations of 4.4%.
This marks the biggest monthly job addition since March 2025.
A much stronger than expect jobs report amid the Iran War.
The unemployment rate fell to 4.3%, below expectations of 4.4%.
This marks the biggest monthly job addition since March 2025.
A much stronger than expect jobs report amid the Iran War.
America is waking up to some major news this morning:
At 10:41 PM ET last night, President Trump said that the US will begin targeting Iran's "bridges next, then power plants."
And now, President Trump has announced that the US can "easily open the Straight of Hormuz, take the oil, and make a fortune."
This all comes just 3 days before his "pause" of US strikes on Iranian power plants is set to expire.
He also said that this can all be done with "a little more time."
In other words, the war will continue for now and the critical energy infrastructure that has been spared so far is the next target.
April is going to be a highly eventful month.
At 10:41 PM ET last night, President Trump said that the US will begin targeting Iran's "bridges next, then power plants."
And now, President Trump has announced that the US can "easily open the Straight of Hormuz, take the oil, and make a fortune."
This all comes just 3 days before his "pause" of US strikes on Iranian power plants is set to expire.
He also said that this can all be done with "a little more time."
In other words, the war will continue for now and the critical energy infrastructure that has been spared so far is the next target.
April is going to be a highly eventful month.
BREAKING: Iranian state TV says a "valuable reward" will be paid to anyone who captures the pilots of the US F-15E which Iran claims to have just shot down.
BREAKING: Iran has shot down a US fighter jet according to a source familiar with the incident, and a search and rescue effort is underway to locate two crew, per Axios.
Details include:
1. This would be the first time since the beginning of the Iran War that a US jet was downed by Iran
2. Iranian state media published pictures and videos that allegedly show parts of the downed plane and one of the ejection seats
3. Pictures suggest that the downed plane was an F-15E
4. Iran is offing a "valuable reward" for anyone who can capture the downed pilots
This is a major escalation if true.
Details include:
1. This would be the first time since the beginning of the Iran War that a US jet was downed by Iran
2. Iranian state media published pictures and videos that allegedly show parts of the downed plane and one of the ejection seats
3. Pictures suggest that the downed plane was an F-15E
4. Iran is offing a "valuable reward" for anyone who can capture the downed pilots
This is a major escalation if true.
BREAKING: A US C-130 and two UH-60 Black Hawk helicopters are currently flying at low altitude over Iran in what is being reported as a "search and rescue" mission for downed F-15E pilots.
BREAKING: US job growth in February has been revised down from an initially reported -92,000 jobs to a total loss of -133,000 jobs.
This marks the biggest monthly US job loss since December 2020.
This marks the biggest monthly US job loss since December 2020.
BREAKING: The Wall Street Journal confirms that a “search-and-rescue operation” is under way for the crew of a US fighter jet that “went down over Iran,” the first known loss of a jet inside the country since the Iran War began.
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TRUMP: REMEMBER WHEN I GAVE IRAN TEN DAYS TO MAKE A DEAL OR OPEN UP THE HORMUZ STRAIT. TIME IS RUNNING OUT - 48 HOURS BEFORE ALL HELL WILL REIGN DOWN ON THEM.