The New York Stock Exchange on April 8, 2025.<\/p>\n
Angela Weiss | Afp | Getty Images<\/p>\n
Despite the noise around tariffs and inflation fears, the U.S. economy seems to be holding its ground \u2014 for now. June\u00a0retail sales came in\u00a0stronger than expected<\/a>, and\u00a0weekly\u00a0jobless claims\u00a0dropped below forecasts<\/a>.<\/p>\n Add to that a solid start to earnings season, and you’ve got a recipe for record highs: both the S&P 500 and Nasdaq notched fresh peaks.<\/p>\n So, is the economy truly resilient in the face of the Trump administration’s shifting trade winds? Or are we simply in the eye of the storm, with August 1 \u2014 the Trump tariff deadline \u2014 looming on the horizon?<\/p>\n Remember, economic data is always a step behind. The real impact of tariffs may not show up for months, especially if businesses and consumers are stockpiling ahead of time\u00a0and\u00a0foreign exporters are cutting their prices<\/a>.<\/p>\n Even when the new tariffs hit, the effects might be muted at first as inventories clear.<\/p>\n Still, for now, investors can take comfort in the fact that markets are being lifted by fundamentals \u2014 not\u00a0just\u00a0fear or speculation.<\/p>\n And yes, to borrow a line from Starship: the U.S. economy is still built on rock-solid data\u2026 not on rock and roll.<\/p>\n \u2014 Lim Hui Jie<\/p>\n What you need to know today<\/p>\n Arbitrage versus market manipulation.<\/strong> The line between arbitrage and market manipulation has long been one of the grayest areas in financial markets \u2014 and India’s recent action against high-frequency trading giant Jane Street has brought that murky boundary into sharp focus. Experts tell us the difference<\/a> between the two.<\/p>\n S&P and Nasdaq storm to new records. <\/strong>U.S. stocks climbed Thursday<\/a> due to solid earnings and economic data, with the S&P 500<\/a> up 0.54% for a record close of 6,297.36 \u2014 its ninth this year. The tech-heavy Nasdaq Composite<\/a> advanced 0.75% for its tenth record close of 2025, ending at 20,885.65. In Asia, Australian equities notched a record high as other markets traded mixed.<\/p>\n Trump AG seeks release of Epstein’s jury transcripts. <\/strong>President\u00a0Donald Trump<\/a> said Thursday night that he had asked\u00a0Attorney General Pam Bondi<\/a>\u00a0to seek the unsealing of grand jury testimony<\/a> related to the\u00a0criminal prosecution<\/a>\u00a0of the notorious pedophile.<\/p>\n Japan inflation eases. <\/strong>Core inflation cooled to 3.3% in June, coming down from a 29-month high of 3.7% as rice inflation showed signs of easing. The increase in rice prices eased slightly, rising 100.2% year over year, compared with the\u00a0101.7% jump in May<\/a>.<\/p>\n [PRO] The U.S. consumer pushes back on recession fears.<\/strong> U.S. consumers appear to prove economic pessimists<\/a> wrong this summer as they flex their spending muscle, according to June’s retail sales report. But some alternative data suggests that the consumer is hanging in there.\u00a0<\/p>\n And finally…<\/p>\n The new fee aims to restore integrity to the U.S. immigration system, the government told CNBC.<\/p>\n Alan Schein Photography | The Image Bank | Getty Images<\/p>\n Travelers to the US must pay a new $250 \u2018visa integrity fee\u2019<\/strong>\u00a0<\/p>\n Visitors to the United States will need to pay a “visa integrity fee,” according to a provision of the Trump administration’s recently enacted\u00a0One Big Beautiful Bill Act<\/a>. \u00a0<\/p>\n The fee applies to all visitors who need\u00a0non-immigrant visas<\/a>\u00a0to enter, and cannot be waived.<\/p>\n However, travelers may also be able to get the fees reimbursed, according to the provision.<\/p>\n \u2014 Monica Pitrelli<\/p>\n