President Trump said Tuesday that Republicans would hold a midterm convention for "the first time ever" in September in Dallas.
Why it matters: National party conventions are typically held only during presidential election years, making a midterm gathering an unusual effort to rally supporters and shape the party's message ahead of the midterms.
U.S. stock investors brushed off any concerns from the Iran war to send major indexes to their best quarter since 2020.
The big picture: Stocks rebounded after a bruising first quarter.
In the second quarter, the S&P 500 index rose nearly 15%, the Nasdaq Composite jumped more than 21%, and the Dow Jones Industrial Average increased nearly 13%.
It's been just over a year since Japan's Nippon Steel bought U.S. Steel, after agreeing to invest $11 billion into the Pittsburgh-based icon by the end of 2028.
Thus far, almost all of that money remains a promise.
America's labor market held steady in May: Employers are hiring cautiously, workers aren't switching jobs as often, and layoffs remain muted.
Why it matters: Employers are hiring less aggressively, but they are not doing the type of widespread layoffs that typically precede a broader downturn.
Taken together, new job openings data offers little evidence that the labor market is reigniting or cooling in ways that would be troublesome for the Federal Reserve.
On the surface, Monday's Supreme Court ruling that keeps Lisa Cook in place as a Federal Reserve governor for now was a win for believers that the central bank works best when insulated from the day-to-day control of the president. The details aren't so clear.
The big picture: The court punted on several key questions that will determine how much ability President Trump and his successors have to fire Fed governors.
Moreover, the decision was closer than many court watchers anticipated, with four of six conservative justices dissenting.
Comcast's split has been a long time coming. And the streaming era made it impossible to put the move off much longer.
Why it matters: Comcast's two core businesses — connectivity and entertainment — have become less synergistic, making it hard for investors to value the company as a whole.
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As businesses grow, company and employee spending can become increasingly complex to manage and affect agility and decision-making.
The Supreme Court this term gave President Trump powers over the federal government that no modern president has held. But it blocked his administration on two of the biggest issues for markets: the Fed and tariffs.
Why it matters: Its rulings hand the president firmer command of the federal bureaucracy, signaling to businesses that regulatory policy will be less stable — and more political — with every election.
But the cases preserve limits around the Fed and emergency tariff powers, where investors feared political interference could unsettle markets.
Today's AI buildout resembles earlier technological revolutions and capital booms that ended in painful busts.
That's the new warning from the Bank for International Settlements, a top forum known as the "central bank for central banks."
Why it matters: The technological revolutions that transform the economy have a long history of attracting more investment than what near-term returns justify.
The risk is that AI follows the same pattern at a moment when the global economy is unusually reliant on a single investment boom to keep the expansion on track.
