June 20, 2025
United States:
Stocks Rise on Waller’s Remarks and Mideast Hopes
A post-holiday Wall Street session saw stocks rising and short-dated Treasuries outperforming after Federal Reserve Governor Christopher Waller said rates could drop as soon as July, while concerns about a direct US involvement in the Middle East conflict eased as Donald Trump held off on a decision on whether to strike Iran.
The S&P 500 bounced after two sessions of losses. Investors also braced for a $6.5 trillion US options expiring on Friday, in a move that could free equities to swing more wildly than the subdued changes seen in recent weeks.
United Kingdom:
Plunging UK Retail Sales Deepen Concern About Broader Slowdown
A dramatic drop in UK retail sales is raising fresh questions about the sustainability of Britain’s recent growth spurt and Prime Minister Keir Starmer’s plans to use it to restore controversial benefit cuts.
The volume of goods sold online and in shops dropped 2.7% in May, the Office for National Statistics said on Friday.
Asia:
Japan’s Prices Climb by Most in Two Years Ahead of Election
Japan’s key consumer inflation measure accelerated more than expected to a fresh two-year high, as Prime Minister Shigeru Ishiba gears up for a summer election and the Bank of Japan mulls the country’s price trajectory.
Consumer prices excluding fresh food quickened for a third month to 3.7% from a year earlier in May, according to a Ministry of Internal Affairs release Friday.
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