Up and Adam

Economic data shows a robust US manufacturing sector and resilient consumer spending, while geopolitical tensions in the Middle East have driven oil prices higher.

Key Takeaways

• 1.The ISM Manufacturing PMI reached a four-year high of 54.0 in May, indicating sustained expansion despite persistent input cost pressures.
• 2.Oil prices surged as internal power struggles in Iran and tensions with Israel threatened to delay diplomatic negotiations.
• 3.US consumer spending remains resilient, evidenced by strong restaurant bookings and AMC's best May attendance since 2019.

Table of Contents

• Previous Close
• Future
• Powell Highlights Concerns Around Fed Independence—An Unusual Step For A Former Chair
• Amid Apparent Power Struggle, Iran’s Rhetoric Turns More Hawkish—Pushing Oil Prices Higher
• As Consumers Keep Spending, AMC Signals Best May For Movie Attendance Since 2019
• Potential Breakthroughs In Cancer Drugs Mark The Latest Milestones In Pharma Innovation
• ISM’s Manufacturing PMI Rises To Four-Year High While Providing The Latest Evidence Of Cost Pressures
• Disclosures

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