Economic & Market Watch

In the News

Economy

• U.S. initial jobless claims were 217,000 for the third week of July, continuing a steady decline for the month.
• U.S. durable goods orders, which can signal strength and confidence in the manufacturing sector, fell 9.3% in June.

Markets

• West Texas Intermediate crude oil futures trended above $66/barrel, as the U.S. and the European Union agreed on a trade deal where the EU is expected to buy $750 billion in U.S. energy.
• Shares in some dominant North American airlines fell amid dismal earnings reports, with American Airlines shares declining 9.6% and Southwest shares dropping over 11%.

Current Events

• The U.S. and EU have agreed to a trade deal that sets a baseline tariff of 15% on most European goods in addition to requiring European investment in the American energy sector.
• President Trump and U.K. Prime Minister Keir Starmer have begun a series of talks in Scotland expected to focus on tariff negotiations and the conflicts in Ukraine and Gaza.

Meet the Team

CFC's economic research team—John Suter, Sam Kem and Antony Davies—share their expert, yet easily digestible, perspective on what you need to know.

Have feedback about the podcast? A topic you'd like the EMW team to cover? Get in touch at economicresearch@nrucfc.coop.

Source: U.S. Energy Information Administration, Trading Economics