Inflation Watch: U.S. CPI jumped to 4.2% in May, the highest since April 2023, with energy costs driving most of the increase and core inflation rising to 2.9%, reviving rate-hike expectations. Fed & Markets: Gold slid after the jobs data boosted “higher for longer” bets, while stocks leaned on oil easing and SpaceX’s IPO debut. Geopolitics & Energy: U.S.-Iran tensions and talks kept pressure on oil and inflation risk, with markets reacting to deal headlines. SpaceX IPO: SpaceX priced a record $75B IPO at $135 and became the backdrop for a broader AI-and-power build-out story, including how the IPO’s greenshoe option could stabilize trading. AI Power Crunch: Investors are looking at power providers as the next bottleneck for AI data centers, spotlighting grid and generation constraints. Crypto ETF Push: VanEck launched a spot BNB ETF (VBNB), arguing BNB’s real-world usage supports a crowded crypto ETF market. Banking & Consumer Stress: A Northwestern Mutual survey found 42% of adults still rely on parents for financial support, underscoring pressure on household finances. Legal/Policy: A D.C. Circuit panel upheld a $108M Venezuela arbitration award, while a major U.S. surveillance authority (FISA Section 702) is set to expire Friday, raising uncertainty for intelligence operations. Trade & Supply Chains: The House passed the DOMINANCE Act to counter China’s rare-earth processing dominance, aiming to diversify allied supply for defense and tech. Corporate M&A: DOJ cleared Paramount Skydance’s $111B Warner Bros. Discovery takeover, a major win for the deal as states weigh next steps.