Brent crude prices saw a late-day surge due to short-covering as investors reacted to escalating U.S.-Iran tensions over nuclear weapon development. Despite this, both Brent and WTI futures experienced weekly gains, with traders betting on higher prices amidst concerns over potential supply disruptions in the Strait of Hormuz.
Gold prices surged over 1% as weaker U.S. GDP data and President Trump's announcement of new global tariffs fueled investor uncertainty. Despite a Supreme Court ruling against his previous tariffs, analysts predict continued volatility, supporting gold's safe-haven appeal. Economic slowdown and persistent inflation further bolster demand for the precious metal.
Europe's STOXX 600 reached a record high, boosted by the U.S. Supreme Court's decision to strike down President Trump's tariffs. Investors welcomed the ruling, which eased trade uncertainty, while strong corporate earnings and a rebound in manufacturing also contributed to market gains. Luxury and banking sectors saw significant increases.
The US dollar saw a dip on Friday. This followed a Supreme Court decision against President Trump's tariffs. US economic growth slowed last quarter. Inflation, however, showed a rise. The dollar index weakened against other currencies. Sterling and the Japanese yen also saw movements. Market expectations for Federal Reserve rate cuts were slightly impacted.
The ability of federal safety regulators to oversee airplane maintenance at United Airlines has been hindered by inadequate staffing, high employee turnover and the improper use of virtual inspections instead of on-site reviews in some cases, according to a government watchdog audit released Friday.
Heartland Human Care Services plans to lay off more than 140 workers as it prepares to close several Chicago sites that temporarily house children who come to the U.S. without adults, according to the state.
Illinois Gov. JB Pritzker said, "I think we're down to the question of whether theyre going to build in Arlington Heights or theyre going to build something in the state of Indiana."
The nations highest court struck down some of U.S. President Donald Trumps most sweeping tariffs on Friday, in a 6-3 decision that he overstepped his authority when using an emergency powers law to justify new taxes on goods from nearly every country in the world.
All truckers and bus drivers will have to take their commercial drivers license tests in English as the Trump administration expands its aggressive campaign to improve safety in the industry.
