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Elaine KurtenbachThe Diplomat |
Walmart, Target, Home Depot and Lowe's report earnings this week after the steepest drop in U.S. retail spending in more than a year.
Strong demand for electronics, EVs and machinery helped China's July exports beat forecasts despite slower growth.
Risk on!
Iran attacked two oil refineries in Kuwait and a key natural gas facility in Qatar that can supply one-fifth of the world’s liquified natural gas.
Global markets also took a beating, with Japan’s benchmark Nikkei 225 index plunging more than 5% and markets across Europe losing between 2% and 3%.
“A significantly smaller team, using the tools we’re building, can do more and do it better,” the Block CEO said.
“We believe we need more balance, less hysteria and hype,” said Philip Schellekens, the UNDP's chief economist for the Asia Pacific.
Exports to the United States fell 16%, but that was less than half the 34.5% drop seen in May.
Washington and Beijing have signed a trade agreement that will make it easier for American firms to obtain magnets and rare earth minerals from China.
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