US Futures Rise Amid Trade Talks; Senate to Vote on Tax Bill
Equity futures climb as the US progresses in trade negotiations with key allies including Canada and Japan. The Senate is set for a marathon of voting as President Trump's July 4 deadline looms. The ECB forum kicks off in Sintra, Portugal with major central bank chiefs scheduled to speak throughout the week. Rabobank's Jane Foley and Matt Gertken of BCA Research discuss the risk of mounting US deficit. 'Bloomberg Brief' delivers the market news, data and analysis you need to set your agenda. (Source: Bloomberg)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
31 minutes ago
- Yahoo
Joor's Solution to Fashion's Need for Speed is a Digital Trade Show
In today's retail relay, growth hinges on handing buyers the baton of evergreen bestsellers and fresh-drop stock primed to ship at the speed of style. After all, McKinsey reported last November, one-third of consumers now expect same-day delivery to keep pace with their fashion fix. In response to these evolving demands, Joor developed a first-of-its-kind digital show to unite fashion brands with inventory available to sell (ATS) now. The fashion apparel sector's wholesale management ecosystem is calling it the Ready-To-Ship Style digital event, as developed to address the evolving needs of the industry's retail landscape. More from Sourcing Journal FedEx Faces $170M in Tariff Headwinds as US Cracks Down on De Minimis China Port Volumes Hit Record Highs on US Tariff Truce Footwear Firms Rejiggering Supply Chains Will See Long-Term Benefits 'Brands are seeking efficient ways to sell through existing inventory, while retailers require the agility to place orders closer to delivery, minimizing risk by reacting to trends and real-time product performance,' said Amanda McCormick Bacal, senior vice president of marketing at Joor. 'By focusing on available-to-sell inventory, this groundbreaking digital experience provides access to products before prices are impacted by upcoming tariffs, as well as a showcase for evergreen styles which have become increasingly vital to retailers' assortments.' The digital trade show, hosted on Joor Passport, features 145 brands—including Mother Denim, Juicy Couture and Farm Rio—all with ATS inventory. Participating players can showcase brand bestsellers, evergreen pieces and carryover styles to 'maximize visibility of current stock,' Joor said, 'and drive sales ahead of the upcoming tariff changes.' Retailers looking to address these evolving market needs quickly, meanwhile, can now source styles in stock and ready to ship rather than placing orders to be delivered six months later. Joor's exclusive transaction data revealed several 'seismic shifts' within the luxury wholesale fashion industry over the past five years. Retailers are increasingly placing orders on shorter lead times, the data found, and placing smaller initial orders to save more of the company's buying budget for in-season purchases. In fact, per the New York-based platform, the average time from a wholesale order being placed to the product shipping has fallen 66 percent—from a high of 253 days in 2019 to just 86 days in 2024. In addition, evergreen styles continue to signify the climbing importance of such core items' driving overall sales volumes—growing from 37 percent of gross merchandise value (GMV) on Joor in 2019 to 47 percent in 2024. 'The fact that nearly half of total transaction volume is now dedicated to evergreen products demonstrates brands continued focus on maximizing best sellers and retailers' continued desire to invest in proven commercial winners,' Joor said. Looming tariffs seriously influence the wholesale fashion market's need for speed as well. Joor's tariff survey from April confirmed that 85 percent of brands anticipate increasing prices because of global tariffs, creating an urgency for retailers to order and receive goods in advance of these price hikes. The Joor Ready-To-Ship Style passport show runs until August 18.
Forbes
34 minutes ago
- Forbes
Musk-Trump Feud Reignites As Billionaire Attacks Spending Bill Backers
The feud between President Donald Trump and his former ally, Elon Musk, was reignited once again on Tuesday after the world's richest person said he'll back primary challenges against GOP lawmakers voting for the president's signature spending bill, prompting Trump to retaliate by threatening to scrap government subsidies for Musk's firms. Elon Musk looks on during a news conference with US President Donald Trump in the Oval Office of the ... More White House in Washington. AFP via Getty Images Musk attacked the spending bill in a series of post on X on Monday night and early Tuesday morning, saying: 'Every member of Congress who campaigned on reducing government spending,' and backed the mega bill 'will lose their primary next year if it is the last thing I do on this Earth.' The billionaire then tweeted, 'If this insane spending bill passes, the America Party will be formed the next day,' as he bashed what he described as the 'Democrat-Republican uniparty.' Musk later said that anyone who votes for the legislation after campaigning 'on the PROMISE of REDUCING SPENDING' will see their face on a poster of Pinocchio with the caption 'LIAR' followed by the text 'Voted to increase America's Debt by $5,000,000,000,000.' The X owner reshared the results of an unscientific poll he conducted on the platform last month during his public blow-up with the president and wrote 'VOX POPULI VOX DEI 80% voted for a new party.' Earlier on Monday, Musk had attacked the GOP and the spending bill, tweeting: 'It is obvious with the insane spending of this bill, which increases the debt ceiling by a record FIVE TRILLION DOLLARS that we live in a one-party country – the PORKY PIG PARTY!!' This is a developing story.
Washington Post
37 minutes ago
- Washington Post
Iowa's civil rights protections no longer include gender identity as new law takes effect
DES MOINES, Iowa — Iowa became the first state to remove gender identity from its civil rights code under a law that took effect Tuesday, meaning transgender and nonbinary residents are no longer protected from discrimination in their job, housing and other aspects of life. The law also explicitly defines female and male based on reproductive organs at birth and removes the ability for people to change the sex designation on their birth certificate.
