Consumer economy: Jobs miss, oil relief, USPS stamp hike, airline fuel costs, inflation expectations, Toyota plant, Ford recall, Alberta pipeline, Big Tech power bills
Key Questions
How did U.S. job growth perform in June?
U.S. job growth cooled significantly to only 57,000 in June. This slowdown raised concerns about the broader economic outlook.
What is happening with USPS stamp prices?
The Forever stamp price will rise to 82 cents starting Sunday. This marks the sixth increase in five years for first-class mail.
Why are airline fuel costs increasing?
Airline fuel costs rose by $3 billion in May due to higher oil prices. This adds pressure on carriers and potentially ticket prices.
What are near-term inflation expectations according to the NY Fed?
Near-term inflation expectations rose to 3.7 percent in the latest NY Fed survey. Consumers are showing growing concern about price increases.
What major investment is Toyota making in Texas?
Toyota plans a $3.6 billion plant in Texas and will shift Tacoma production from Mexico. The move aims to expand U.S. manufacturing capacity.
What caused the Big Tech power bill increases?
Big Tech data centers are driving up power bills at Rust Belt factories. Surging AI demand is projected to push U.S. power use to record highs in 2026-2027.
What is the expected back-to-school spending this year?
Back-to-school spending is projected to reach $922 per household, up 47 percent. This reflects higher costs for supplies and electronics.
How did oil prices react to sanctions on Iran?
Oil prices jumped after the U.S. revoked a general license for Iranian oil sales. The move reinstated sanctions following tanker attacks.
US job growth cooled to 57K in June. OPEC+ keeps oil below $72, gas below $4/gal. USPS Forever stamp to 82 cents Sunday (sixth hike in 5 years). Airline fuel costs up $3B in May. Near-term inflation expectations rise to 3.7% (NY Fed). Toyota to build $3.6B Texas plant, shift Tacoma production from Mexico. Ford recalls over 110,000 US vehicles. Alberta and Ontario propose pipeline to carry western Canada oil east, affecting US energy security. Big Tech data centers driving up power bills at Rust Belt factories. US power use to beat record highs in 2026-2027 as AI use surges (EIA). Back-to-school spending expected $922, up 47%. Trump Accounts launched. Fed's Waller says inflation risks tilted to upside. ACA enrollment drops after subsidies expired. Meta faces $1.4 trillion penalty.