Unusual Whales

The Californian economy has overtaken Japan's to become the fourth-largest in the world by gross domestic product

California’s economy has surpassed that of Japan, making the state the world’s fourth largest economy, according to newly released data. Governor Gavin Newsom highlighted figures from the International Monetary Fund (IMF) and the U.S. Bureau of Economic Analysis showing California’s gross domestic product (GDP) reached $4.

US existing home sales in March were the weakest since the Great Financial Crisis

The housing market just experienced its weakest March since the global financial crisis, dragged down by elevated borrowing costs and declining consumer confidence in the broader economy. Sales of previously owned homes fell to an annualized pace of 4 million units last month — the lowest March level since 2009 — marking

People inside the Trump White House are alerting Wall Street execs they are nearing an agreement in principle on trade with India

President Donald Trump said Thursday that trade talks between the U.S. and China are in progress, disputing Beijing’s claim that no discussions have taken place to ease the ongoing trade war. “They had a meeting this morning,” Trump told reporters, without specifying who participated. “It doesn’t matter

China Commerce Ministry: there have not been economic and trade negotiations between China and the US

President Donald Trump said Thursday that trade talks between the U.S. and China are in progress, disputing Beijing’s claim that no discussions have taken place to ease the ongoing trade war. “They had a meeting this morning,” Trump told reporters, without specifying who participated. “It doesn’t matter

42% of mortgage refinance applications are being denied — the highest rejection rate in at least 12 years

Household Debt Rises to $18.04 Trillion in Q4 2024 Total household debt in the U.S. increased by $93 billion (0.5%) in the fourth quarter of 2024, reaching $18.04 trillion, according to the latest report from the New York Federal Reserve’s Consumer Credit Panel. The report

U.S. Companies are declaring bankruptcy at the fastest pace in 15 years

Large U.S. companies filed for bankruptcy at the fastest pace in 15 years during the first quarter of 2025, according to S&P Global Market Intelligence. A total of 188 large corporate bankruptcies were recorded through March—marking the highest number since 254 were filed in the first

Factories in China have begun slowing production and furloughing some workers due to tariffs

Factories across China are scaling back production and placing workers on leave as U.S. tariffs—now at 145% on most Chinese imports—dampen demand from American buyers. This downturn has led to order cancellations for products ranging from jeans to home appliances, prompting some factories to reduce shifts or

Trump reportedly considering increasing taxes on Americans who make over $1 million a year

The White House has been reviewing proposals aimed at encouraging more Americans to marry and have children, as part of an initiative pushed by outside groups concerned with the country’s declining birth rate. Among the ideas presented to White House advisers is a $5,000 “baby bonus” to be

Canadian Prime Minister Carney says "decades old relationship with the US is dead"

During a phone call last month between U.S. President Donald Trump and Prime Minister Mark Carney, Trump once again raised the idea of Canada becoming the 51st U.S. state—a point that contradicts Carney’s later public remarks, according to sources who spoke to Radio-Canada. Two sources with

Klaus Schwab under investigation for financial misconduct days after stepping down as World Economic Forum Chairman

In a statement confirming a Wall Street Journal report, the World Economic Forum (WEF) said its board of trustees "unanimously supported the Audit and Risk Committee's decision to initiate an independent investigation following a whistleblower letter containing allegations against former Chairman Klaus Schwab." Schwab has denied

Elon Musk says he will spend less time with DOGE and much more time with Tesla

Tesla CEO Elon Musk opened his company’s earnings call on Tuesday by announcing that his involvement with President Donald Trump’s Department of Government Efficiency (DOGE) will decrease “significantly” starting in May. Musk—whose company has seen its stock drop over 40% this year—said he would continue supporting

Intel INTC is cutting 20% of its workforce, or 20,000 people

Intel is reportedly preparing to announce plans this week to cut over 20% of its workforce, aiming to streamline operations and reduce bureaucratic inefficiencies, Bloomberg News reported Tuesday, citing a source familiar with the matter. The layoffs are part of a broader push to reestablish an engineering-driven culture at the

57% of Americans oppose Trump’s tariffs

A new Reuters/Ipsos poll shows that most Americans are expecting higher prices on everyday goods following President Donald Trump’s decision to implement sweeping new tariffs on imports from much of the world. The three-day survey, which concluded on Sunday, found that 73% of respondents believe prices will rise

The richest half of American families owns about 97.5% of national wealth, while the bottom half held 2.5%

As of the end of 2024, the wealthiest 50% of American households controlled roughly 97.5% of the nation’s total wealth, while the bottom 50% held just 2.5%, according to the latest data from the Federal Reserve. The lower half of households saw a modest increase in their

Goldman Sachs, GS, says to brace for a bigger stock drawdown, wider credit spreads and recession

The United States could face a recession as a result of the fallout from a global trade war, though the economic pain would be felt broadly — including in the eurozone, albeit to a lesser degree, French central bank governor François Villeroy de Galhau said Wednesday. Speaking at the Atlantic Council

Scott Bessent: "America first does not mean America alone"

U.S. Treasury Secretary Scott Bessent continued the Trump administration’s outreach efforts with a more conciliatory tone toward America’s trade partners. “‘America First’ does not mean America alone. On the contrary, it calls for deeper cooperation and mutual respect among our trade partners,” Bessent said during remarks at

White House considers slashing China tariffs to de-escalate trade war

The Trump administration is open to reducing tariffs on Chinese imports depending on the outcome of discussions with Beijing, according to a source familiar with the matter. The source emphasized that any changes would not be made unilaterally. The comments came in response to a Wall Street Journal report suggesting

Trump has said that tariffs on China will come down and he won't play hardball

U.S. President Donald Trump said tariffs on Chinese imports will be reduced “substantially” from the current 145% rate. “It won’t be that high, not going to be that high,” Trump said during a press conference in the Oval Office on Tuesday. He added that he believes a trade

RFK Jr to create a new 'disease registry' that will track Americans with autism

The National Institutes of Health is assembling private medical records from a range of federal and commercial sources to support a new autism research effort spearheaded by Health and Human Services Secretary Robert F. Kennedy Jr., NIH Director Dr. Jay Bhattacharya announced Monday. This data aggregation will provide external researchers

The FDA has officially announced they will be banning artificial dyes in the food supply by the end of 2026

The United States will ban eight widely used artificial food dyes in an effort to help Americans “know what’s in their food,” Health Secretary Robert F. Kennedy Jr. announced on Tuesday. Officials said two of the dyes—both petroleum-based synthetics—will be phased out in the coming weeks, with

OpenAI said it would be interested in purchasing Google's, $GOOGL, chrome internet browser

OpenAI would be interested in acquiring Google’s Chrome browser if antitrust regulators succeed in forcing Alphabet (GOOGL.O) to divest the popular web browser as part of broader efforts to restore competition in online search, an OpenAI executive testified Tuesday during Google’s antitrust trial in Washington. Nick Turley,

The Trump Administration has been mulling ways to get more Americans married and having kids — including a $5,000 “baby bonus” for every new mom after delivery

The Trump administration is exploring ways to encourage more Americans to marry and have children — including a potential $5,000 “baby bonus” for new mothers after childbirth, according to a report. White House officials have recently been brainstorming solutions to address the country’s declining birth and marriage rates, aiming

US Dollar is now used in nearly 50% of global payments, the highest level in more than 12 years

The U.S. dollar hovered near multi-year lows against the euro and Swiss franc on Tuesday, as President Donald Trump's intensified criticism of the Federal Reserve stirred concerns over the central bank’s independence. Analysts noted the dollar remained particularly vulnerable amid rising apprehension over the Trump administration’

Expect a ‘severe’ market reaction if Trump tries to fire Powell, says Evercore ISI’s Krishna Guha

U.S. stock markets dropped again on Monday as President Donald Trump escalated his attacks on Federal Reserve Chair Jerome Powell, whom he labeled “a major loser” for not cutting interest rates. “There can be a slowing of the economy unless Mr. Too Late, a major loser, lowers interest rates,

DHL will now suspend consumer shipments ‘from any origin’ that are over $800 because of a tariff-induced backlog at US customs

The global logistics firm DHL has announced it will stop shipping packages valued over $800 to U.S. consumers, citing new, stricter U.S. customs rules. The company pointed to the 10% tariffs imposed by the Trump administration in early April, which it says have triggered increased customs scrutiny for