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Details@capitalone.com Live from NPR News in Washington, I'm Dan Rowland. Investors will be looking both at home and abroad this week for reassurance about the U.S. economy, the war and its impact on inflation. NPR's Marie Aspen reports.
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More companies are releasing quarterly report cards in what's already been a blockbuster earnings season. Tech investors in particular are back to being thrilled with the AI boom and all the money being spent on it. The tech heavy Nasdaq and the broader S&P 500 ended last week at new record highs despite ongoing uncertainty about the war and the high price of oil. Investors will see how much the energy crisis has driven up prices on Tuesday when the US Government releases inflation data for April. Meanwhile, Wall street will also be monitoring President Trump's high stakes visit to China for developments on the Middle east war, the trade war and the tech war. Maria Aspen, NPR News.
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President Trump says Iran's response to the latest US Plan to end the Middle east war is totally unacceptable. Iran sent its answer to mediators in Pakistan, which is acting as an intermediary. Iran said the US proposal essentially amounts to a surrender. Meanwhile, the US ambassador to the United Nations, Mike Walsh, said on ABC's this Week the US had to take military action against Iran to stop its nuclear program.
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It's not just the United States position. We have had resolution after resolution for nearly 20 years, with the entire world agreeing that Iran cannot have a nuclear weapon, that it has to subject itself to inspections.
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In response to Trump's plan, Iran says it must have control of the Strait of Hormuz and there must also be an end to economic sanctions. Treasury Secretary Scott Bessett will visit Japan and South Korea this week before going on to China with President Trump. NPR's Anthony Kuhn has more from Seoul.
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Secretary Besant announced his trip in a post on X. Besant is expected to continue pushing Japan and South Korea to prop up their currencies in order to cut their trade surpluses with the US and maintain the dollar's dominance as the global reserve currency. In Seoul, Besant will also meet with Chinese Vice Premier He Li Feng to finalize arrangements for President Trump's summit with China's leader Xi Jinping in Busan, South Korea. Last year, Trump and Xi reached a one year truce in their trade war with the US Reducing tariffs in exchange for China purchasing more American products such as soybeans in airplanes and pausing export controls on rare earths. The two sides are expected to try to extend or renegotiate that truce. Anthony Kuhn, NPR News, Seoul.
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Six people were found dead inside of a freight rail car in Laredo, Texas, on Sunday. The railroad worker found the body's temperatures in the area were in the mid 90 degree range. This is NPR News from Washington. In Canada, supporters of a provincial boycott of American liquor say it appears to be working. As Dan Karpenschuk reports, an industry group in the United States says liquor exports to Canada are down 63% this year.
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American liquor was pulled from store shelves in most provinces in retaliation against tariffs imposed by Washington. The Distilled Spirits Council of the US Says trade frictions have led to the first decline in liquor sales in decades and cost the industry nearly 1,000 jobs. Several provinces stopped sales and imports of U.S. liquor, while others sold off the remaining inventory and donated the proceeds to charity. Others have encouraged their consumers to buy Canadian where possible. Trade czar Jameson Greer recently referred to the boycott as a trade irritant between Canada and the U.S. and he said he wants us alcohol immediately and permanently returned to all markets. But Ontario Premier Doug Ford says that won't happen without a broader trade agreement in place. For NPR News, I'm Dan Karpenschuk in Toronto.
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American Jewish leader Abraham Foxman, who served as the national director of the Anti Defamation League from 1987 until 2015, has died, the organization announced. Foxman was 86. As a child, Foxman survived the Holocaust when his parents placed him in the care of a Polish Catholic nanny who raised him until he could be reunited with his family. After World War II. However, 14 of his family members died in the Holocaust. He moved to the United States, earned a law degree and worked his entire career at the adl. Under his leadership, the ADL expanded its role as an anti bias group. I'm Dan Ronan, NPR News, in Washington.
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