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Warsh for Fed Board squeaks through Senate 51-45, Fed Chair vote on deck for Wednesday
Kevin Warsh squeaked through the Senate 51-45 on Tuesday to claim a seat on the Federal Reserve (Fed) Board of Governors, with the separate vote to confirm him as Fed Chair scheduled for Wednesday and Jerome Powell's term as chair wrapping up on Friday.Fxstreet
Tue, May 12
Copper: Prices hold near records despite Iran risks – Commerzbank
Commerzbank’s Thu Lan Nguyen notes Copper prices are trading close to January’s intraday record despite renewed Iran–US tensions and higher Oil prices. Markets currently anticipate limited economic fallout as long as a Hormuz reopening deal is reached, but prolonged disruption could hurt growth.
Fxstreet
Tue, May 12
United States Oil output reaches unprecedented levels: What does this mean for markets?
The Energy Information Administration (EIA) released the Monthly Energy Review on Tuesday. The report showed that the US hit a record energy production in 2025, recording a 3.4% increase from the previous record set in 2024.
Fxstreet
Tue, May 12
ADP Employment Change 4-week average increases to 33K
Private-sector hiring in the US has added extra momentum in late April. According to the NER Pulse, the weekly companion to the ADP National Employment Report, companies added an average of 33K jobs per week in the four weeks ending April 25.Fxstreet
Tue, May 12
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US Stocks Tumble as Nasdaq Drops Over 4%; Micron Plunges Over 12% on Fears Slowing AI Data Center Expansion Will Dent Infrastructure Demand
Nasdaq Drops Over 5%, Philadelphia Semiconductor Index Plunges 12% as Chip and AI Infrastructure Stocks Are Sold Off; Micron Falls 17%, Nvidia Drops 9%
Today’s Market Recap: Nasdaq Falls Over 5%, AI Stocks Plunge as Nvidia Drops Over 9%, Micron Falls Over 17%, SanDisk Drops Over 22%
US October Nonfarm Payrolls Preview: Can Employment Rebound? US Stocks, Dollar and Gold Face Key Test
Oil Price Forecast: Brent Falls Below $100 to Two-Month Low as Democratic Win Sparks Truce Hopes, Risks Retesting $80
