Trump tariffs to reduce US deficits by $1 trillion less than previous estimate, CBO says

The US government has announced plans to conduct oil and gas auctions off the coast of California. This initiative aims to expand energy production in the region, potentially increasing revenue and job opportunities. The auctions are part of a broader strategy to manage the country's energy resources effectively.

The US dollar strengthened following the release of robust employment data, which has led to diminished expectations for a Federal Reserve interest rate cut. The positive jobs report indicates a resilient labor market, prompting investors to reassess their outlook on monetary policy.

Oil prices have declined as the United States intensifies efforts to negotiate a peace deal between Russia and Ukraine. This push for peace has led to a reduction in the risk premium associated with oil prices, causing market uncertainty. Traders are reacting to the potential implications of these negotiations on oil supply and demand.

Former President Donald Trump is contemplating an executive order aimed at preempting state-level regulations on artificial intelligence (AI). This move is seen as a response to growing concerns regarding the patchwork of state laws that could hinder AI development and innovation. Trump's consideration reflects ongoing debates about the balance between federal oversight and state autonomy in the rapidly evolving tech landscape.

The US economy added 119,000 jobs in September, according to a report from Investing.com. Despite this solid job growth, the unemployment rate rose to 4.4%, marking the highest level since 2021. This report was delayed due to a federal government shutdown, which has raised concerns about the overall stability of the labor market.

The Trump administration's energy department has undergone a reorganization focusing on fossil fuels and nuclear energy. This shift reflects a strategic prioritization of traditional energy sources amidst ongoing debates about energy policy and sustainability.

US midstream companies are rapidly expanding their natural gas liquids (NGL) export capacity due to increasing global demand. However, analysts caution that a potential processing squeeze could hinder operations before shipments reach their destinations.

Mortgage rates in the US have risen for the third consecutive week, reaching 6.26%. This increase is further straining affordability for potential homebuyers, complicating the already challenging housing market.