Welcome to Markets Desk, your midday read on the stories moving money and markets.
The dollar is catching a bid today after a string of better-than-expected economic data out of the United States. Weekly jobless claims dropped to a ten-week low, June retail sales came in as expected, and the Philadelphia Fed's business outlook survey jumped sharply, signaling that the domestic economy still has some real momentum under it despite months of policy uncertainty.
That policy uncertainty ties directly into our next story. EY-Parthenon is out with a striking analysis warning that fully decoupling from China would cost the United States, the Eurozone, and the United Kingdom a combined twenty-three point six trillion dollars over the next twenty-five years. Economists are calling the effort, as currently framed by the Trump administration, not just expensive but in some respects fundamentally unrealistic.
And on the IPO front, MarketWatch is drawing a pointed historical comparison around SpaceX, noting that close to half of all major initial public offerings fall below their offering price and stay there for years. The piece points to Meta's post-IPO slide as a cautionary parallel, arguing that SpaceX trading below one hundred thirty-five dollars is less a red flag and more a familiar pattern for transformational companies finding their floor.
That's the tape. Markets Desk, signing off the floor.
