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Bank of New York Mellon has initiated talks with Northern Trust for a potential merger, as reported by WSJ, signaling major shifts in the banking sector.
Read MoreBank of New York Mellon Eyes Merger with Northern Trust, Reports WSJ
Asia-Pacific markets largely rose after China kept its benchmark loan rates steady at 3.0% for 1-year and 3.5% for 5-year LPR, signaling stability.
Read MoreAsia-Pacific Markets Rise as China Maintains Steady Rates
The Federal Reserve now expects its key inflation gauge to hit 3.1% in 2025, a rise from prior forecasts, signaling potential economic challenges ahead.
Read MoreFed Forecasts Inflation Gauge Above 3% for 2025, Higher Than Expected
The Federal Reserve keeps rates at 4.25%-4.5%, citing higher inflation and slower growth. Powell signals a cautious approach, ready to wait for clarity.
Read MoreFed Signals Stagflation Fears: Powell Says Central Bank Ready to Wait on Rates
Retail sales fell 0.9% in May, worse than expected, as consumers cut back amid falling gas sales and growing economic uncertainty, reports CNBC.
Read MoreRetail Sales Drop 0.9% in May, Signaling Consumer Caution - CNBC
Homebuilder sentiment drops to near pandemic lows due to high mortgage rates, tariff worries, and consumer uncertainty, signaling economic challenges ahead.
Read MoreHomebuilder Sentiment Nears Pandemic Low Amid Economic Uncertainty