The US trade deficit widened in April to the largest since October 2022 on a surge in imports of goods including motor vehicles, computers and industrial supplies.
In less than a week, a series of reports has changed the outlook for the timing and magnitude of future Fed rate cuts, sending mortgage rates into a five-day tailspin.
The Australian sharemarket is tipped to open lower following a retreat on Wall Street overnight, with ASX 200 futures slipping -1.1% to 7,759 points early.
Biden redacts justification for altering definition of 'recession' | WND wnd.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wnd.com Daily Mail and Mail on Sunday newspapers.