Innovator ETFs CEO on Buffer ETF BALT
Innovator ETFs CEO, Co-Founder, and Innovator Capital Management CEO, Co-Founder Bruce Bond explains the Innovator Defined Wealth Shield ETF (ticker: BALT). (Source: Bloomberg)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
an hour ago
- Bloomberg
How the Israel-Iran War Could Reshape the Economic Landscape
The Middle East Institute's Karen Young breaks down the dynamics between Israel and Iran and how extended conflict will economically affect other countries in the Middle East. Young believes that although Iran is 'weakened,' it still has the ability to 'lash out." Former US Treasury Secretary Lawrence H. Summers explains why the war has had little effect on global markets. (Source: Bloomberg)
Yahoo
2 hours ago
- Yahoo
Charting the Global Economy: Consumer Spending Weakens in US
(Bloomberg) -- US consumers are growing tired, according to fresh data that showed cutbacks in spending on big-ticket goods and services, extending a first-quarter demand slowdown. Philadelphia Transit System Votes to Cut Service by 45%, Hike Fares US Renters Face Storm of Rising Costs Squeezed by Crowds, the Roads of Central Park Are Being Reimagined Sprawl Is Still Not the Answer Mapping the Architectural History of New York's Chinatown Inflation-adjusted consumer spending dropped last month by the most since January. Americans also stepped back from the housing market as new-home sales slid by the most in three years. At the same time, Federal Reserve policymakers indicated they're in little rush to lower interest rates. In the euro area, business activity barely grew amid lingering uncertainty related to US tariffs and geopolitics. Meantime, profits at Chinese industrial firms sagged as the country battles deflationary forces. Here are some of the charts that appeared on Bloomberg this week on the latest developments in the global economy, markets and geopolitics: US Consumer spending declined in May by the most since the start of the year, indicating elevated uncertainty around the Trump administration's economic policies is increasingly weighing on the outlook for growth. The latest figures suggest sluggish household demand, especially for services, extended into May after the weakest quarter for personal consumption since the onset of the pandemic. A flurry of Federal Reserve officials this week made clear they'll need a few more months to gain confidence that tariff-driven price hikes won't raise inflation in a persistent way. Fed Governors Christopher Waller and Michelle Bowman captured attention in the past week when they signaled they'd be open to lowering rates as soon as the Fed's July 29-30 meeting if inflation remains contained. New-home sales fell 13.7% in May, the most in almost three years, as rampant incentives from builders fell short of alleviating affordability constraints. The latest results show homebuilders are sitting on rising inventories amid mounting economic challenges, including mortgage rates stuck near 7%, higher materials costs due to tariffs and a slowing labor market. Europe German companies are the most upbeat about the economy in more than two years as an imminent boost to public spending outweighs concerns over US tariffs and wars in the Middle East and Ukraine. The euro area's private sector barely grew in June, remaining in limbo as erratic US trade policy and geopolitical conflicts leave companies in the dark on what's next. Surging grocery bills are threatening to slow the pace of the Bank of England's interest-rate cuts by raising the risk that inflation will stay elevated even as the UK economy shows signs of sputtering. The prices of staples including butter, beef and chocolate in May were up nearly 20% from a year earlier, contributing to the biggest annual jump in overall food prices since February 2024. Asia China's industrial firms saw their profits drop the most since October, illustrating weakness in an economy strained by higher US tariffs and lingering deflationary pressure. Industrial profits fell 9.1% in May from a year earlier. The deterioration bodes ill for business confidence and could make companies more reluctant to invest and hire. Apartment rents in Tokyo are rising at the fastest pace in 30 years in the latest sign for the Bank of Japan that the nation's inflation trend is spreading deeper through the economy. Rents in the capital climbed 1.3% from a year earlier in April and May for the largest gains since 1994, according to the Ministry of Internal Affairs. Emerging Markets Mexico's central bank again cut its benchmark interest rate by half a percentage point but it opened the door to smaller cuts going forward as policymakers worry the economy will continue to suffer headwinds after barely avoiding tipping into recession earlier this year. World In addition to Mexico's policy decision, central bankers in Paraguay, Morocco, Hungary, Thailand, Czech Republic, Guatemala, and Colombia all kept interest rates unchanged. --With assistance from Irina Anghel, Matthew Boesler, John Liu, Catarina Saraiva, Michael Sasso, Zoe Schneeweiss, Mark Schroers, Fran Wang, Alexander Weber and Erica Yokoyama. America's Top Consumer-Sentiment Economist Is Worried How to Steal a House Inside Gap's Last-Ditch, Tariff-Addled Turnaround Push Luxury Counterfeiters Keep Outsmarting the Makers of $10,000 Handbags Apple Test-Drives Big-Screen Movie Strategy With F1 ©2025 Bloomberg L.P.
Yahoo
2 hours ago
- Yahoo
Senate Unveils New Trump Tax Draft With Plans to Vote Soon
(Bloomberg) -- Senate Republicans unveiled a new version of their $4.2 trillion tax cut package, moving closer to a vote as they near a July 4 deadline set by President Donald Trump. Philadelphia Transit System Votes to Cut Service by 45%, Hike Fares US Renters Face Storm of Rising Costs Squeezed by Crowds, the Roads of Central Park Are Being Reimagined Sprawl Is Still Not the Answer Mapping the Architectural History of New York's Chinatown The new draft reflects compromises among warring factions of the Senate GOP which has been divided over how much to cut safety-net programs such as Medicaid and how rapidly to phase out of renewable energy tax credits enacted under the Biden administration. A tentative deal with House Republicans to increase the state and local tax deduction is included. The bill would raise the SALT deduction cap from $10,000 to $40,000 for five years before snapping back to the $10,000 level. The new cap applies to 2025 and rises 1% in subsequent years. Republicans plan to start voting on the tax bill Saturday with final votes coming as soon as early Sunday. Party leaders plan to bring House members back to Washington early next week for what they hope will be final approval of the measure in time for Trump's Independence Day deadline. It is not yet clear if the 50 Senate Republicans needed to pass the bill are all on board. The bill can be further altered on the Senate floor to secure the votes if needed. The House could make more changes if Speaker Mike Johnson has trouble corralling votes for the measure. To win over moderate Republicans, the bill would create a new $25 billion rural hospital fund aimed at helping some Medicaid providers avoid cuts. Republican Senator Susan Collins of Maine, however, had demanded a $100 billion fund. Moderate Republicans also won a delay from 2031 to 2032 for when a new 3.5% cap on state Medicaid provider taxes takes effect. The provider tax is a gimmick by which states boost their federal Medicaid reimbursement rates and many states have come to rely on the practice. Another change in the measure is that a tax credit for hydrogen production wouldn't be phased out until 2028 for projects that begin construction before then. Previous version ended the credit after 2025. The measure would avert a US payment default as soon as August by raising the debt ceiling by $5 trillion. --With assistance from Ari Natter and Mike Dorning. (Updates with details of bill starting in third paragraph) America's Top Consumer-Sentiment Economist Is Worried How to Steal a House Inside Gap's Last-Ditch, Tariff-Addled Turnaround Push Luxury Counterfeiters Keep Outsmarting the Makers of $10,000 Handbags Apple Test-Drives Big-Screen Movie Strategy With F1 ©2025 Bloomberg L.P.
