Data from the Bureau of Labor Statistics is expected to show the US labour market continued to expand in May, albeit against a backdrop of mounting headwinds from AI-driven disruption and the ongoing energy crisis.

The latest consensus forecast sees nonfarm payrolls rising by 85,000 last month, down from 115,000 in April. The unemployment rate is expected to remain at 4.3%, while economists anticipate the labour force participation rate (LFPR) will hold broadly steady at 61.8%.

Barclays noted that soft aggregate spending data appear difficult to reconcile with reported payroll gains of 183,000 in March and 115,000 in April. However, the discrepancy is less pronounced when compared with the three-month average pace of 48,000 jobs per month and the widely held view that the US economy is benefiting from a sustained improvement in productivity. Economists say May's employment report should provide further clarity. (LiveSquawk – Continue Reading)

World growth prospects have been hurt by the oil crisis prompted by the US-Iran war, Fitch Ratings says in its latest Global Economic Outlook (GEO). This has led to Fitch lowering its 2026 forecast for global growth by 0.2pp to 2.4%.

Forecast cuts have been widespread as higher inflation squeezes real wages, dampens consumption and raises companies’ input costs. But the impact of the oil shock on global activity is being cushioned by stronger-than-expected momentum in AI-related IT investment, supporting world trade and Asian exports.

We have lowered 2026 growth forecasts since the March GEO in the US and eurozone by 0.3pp and 0.4pp, respectively to 1.9% to 0.9%. Growth in emerging markets excluding China has been lowered by 0.2pp to 3.2% but China’s forecast has been raised by 0.3pp to 4.6% following surprisingly good data in 1Q26 and remarkable resilience in exports. We have also raised Korea’s forecast as export prospects benefit from the boom in global technology spending. (Fitch – Continue Reading)

As Beijing steps up its regulatory oversight on capital outflows, residents of mainland China are encountering greater constraints on opening offshore accounts – including outright prohibition – at mainland branches of major Hong Kong banks.

As of Monday, the Shanghai branch of the Bank of East Asia (BEA) had suspended opening Hong Kong accounts that allowed overseas investments for those on the mainland, according to an account manager at a BEA outlet in Shanghai’s Lujiazui financial district, who spoke on condition of anonymity due to company policy. (SCMP – Continue Reading)

As Apple’s Worldwide Developers Conference, WWDC 2026, approaches, the excitement is building around what Apple has in store for us this year. From Siri’s overhaul to new Apple Intelligence updates, there’s a lot to look forward to.

The annual Worldwide Developers Conference kicks off Monday at 10 a.m. PT/1 p.m. ET. For those eager to tune in, the event will be streamed live via the Apple Developer app, Apple’s website, and the Apple Developer YouTube channel. (TechCrunch – Continue Reading)

Prediction market platform Kalshi is developing a new interface for its highly engaged traders to track the company’s prediction markets, according to a source familiar with the plans.

The product, which the source compared to the “Bloomberg Terminal” for traditional equities and derivatives, is currently in alpha testing with a select group of traders on the platform and has been in development for about a month.

Some of the features of the interface, which were shown to CNBC, include tracking popular contracts by 24-hour volumes across various categories, the ability to see all trades as they’re actively placed and also to view individual contracts’ order books. Users can customize their interfaces to see event contracts related to their own portfolios and are able to manage multiple positions in varying markets at the same time. Traders also can enable an option to reduce the friction to place trades.

Kalshi declined a request to comment. (CNBC – Continue Reading)