Federal Reserve Vice Chair Philip Jefferson emphasized inflation as the main factor in determining monetary policy. He highlighted that economic growth and a stable labor market have been observed. Jefferson indicated that upcoming adjustments to policy should rely on data trends and the evolving economic outlook. Concerns about artificial intelligence displacing workers were also mentioned in his remarks.
The Tamil Nadu government has set stock limits on essential commodities like rice and pulses to combat price inflation. Wholesalers can stock a maximum of 2,000 metric tonnes of rice, while retailers are restricted to eight tonnes. Miller stock is limited to one month's production capacity, ensuring regular supply. Importers are prohibited from holding stock longer than 45 days post customs clearance, promoting quick turnover.
Nvidia is poised for a critical quarterly earnings report amidst controversies and leadership changes. Investors are wary as Anthropic prepares for a significant initial public offering, valued at up to $1.4 trillion. The overall market sentiment towards AI stocks could shift based on these developments next week. Retail sales data will also provide insight into consumer health and inflation pressures.
Ahmedabad's District Child Protection Unit has requested police to restrict Diljit Dosanjh's song performances at his concert. This request follows similar actions taken by authorities in Madhya Pradesh concerning his recent concert. Concerns include the glorification of alcohol consumption, drugs, and weapons in his songs. The unit also highlighted health risks posed by loud sounds and flashing lights impacting children.
Robinhood Markets has filed an appeal with the US Supreme Court concerning a class action lawsuit brought forth by investors. The lawsuit claims the company misled investors ahead of its IPO in July 2021 by not revealing how reduced trading volumes would affect their investments. After initially dismissing the case, the 9th Circuit Court of Appeals has reopened it, with Supreme Court deliberations expected by late June.
According to Goldman Sachs, the S&P 500 index may reach 8,700 points within the next year, despite a decline in tech shares after the midterm elections in the US. They foresee a notable deceleration in global earnings growth by 2027, mainly in the US. Nevertheless, Goldman remains optimistic about equity valuations, indicating good returns are possible, and they have revised ratings for different regions while bracing for increased volatility.
The three leaders may meet during the Asia-Pacific Economic Cooperation summit. This unprecedented summit is expected to focus on nuclear arms discussions and regional tensions. While no significant agreements are anticipated, the meeting symbolises their ongoing diplomatic engagements.
Two oil tankers exploded and caught fire in the Strait of Hormuz after striking naval mines. The Iranian Revolutionary Guard Corps reported the vessels had turned off their radar and positioning systems. This incident raises tensions involving Iran, the United States, and Israel in the strategic waterway. The IRGC also claimed responsibility for targeting a US radar installation in Bahrain.
On November 13, 2026, a major communications outage resulted in the grounding of all flights in the United States. Passengers at various airports faced significant delays as they sought alternative travel options. Many frustrated travelers formed long lines at rental car counters to escape the chaos. As Thanksgiving approached, travel disruptions intensified due to high demand for air travel.
