U.S. job growth slowsThe U.S. only
added 37,000 jobs in May, per a new ADP report, the slowest month in job growth in over two years. The S&P 500, Nasdaq, and Dow Jones hardly moved on the news, however.
Inside AI+Fortune’s Sharon Goldman was in attendance at former Google CEO Eric Schmidt’s AI+ Expo, where the former executive hosted everyone from former Secretary of State Condoleezza Rice to OpenAI to Mississippi Governor Tate Reeves. Read her insights
here.
Circle raises over $8 billionCircle Internet Group
raised $1.05 billion on Wednesday in an IPO that values the crypto firm at over $8 billion. Circle, which issues the USD coin and previously attempted an IPO in late 2021, sold 34 million shares at $31 each.
Trump blocks new foreign Harvard studentsTrump ramped up his war against Harvard University by
suspending the school from participating in the student visa program, which effectively bans foreign nationals from attending the nation’s wealthiest university.
Wise to move to the U.S.British money transfer firm Wise said that it plans to
move its primary stock market listing location to the U.S., dealing another blow to the beleaguered London stock exchange. Investors were happy, though: Its shares traded up 11% in morning trading (it also reported earnings).
ECB to cut ratesThe European Central Bank is almost guaranteed to
cut interest rates Thursday for an eighth time as Trump’s blows to global trade darken the prospects for inflation—and the economy. All analysts
surveyed by Bloomberg predicted a quarter-point cut to 2%.
Big investors ditch U.S.Big institutional investors are turning away from U.S. markets as Trump’s trade battles and the country’s escalating debt fuel worries about the future dominance of American assets, the
Financial Times reports. “We’ve been quite, quite optimistic” on Europe, said Tom Nides, a vice chair at Blackstone. “Governments are relatively stable here."
Trump bans people from 12 countriesPresident Trump signed a
broad entry ban on people from 12 countries, largely in the Middle East and Africa, and introduced travel restrictions on seven more. The ban harkens back to a controversial policy that defined the early days of his first term.
