Magic Software reports Q1 revenue beat, EPS miss

Brits are feeling a bit more optimistic about the economy after a rough patch, according to a new retail industry report. The mood lifted in May thanks to stronger-than-expected economic growth early this year and signs that trade conditions might be improving—likely a relief after the uncertainty sparked by Trump-era tariffs.

What This Mean: This isn’t just about abstract numbers—when people feel better about spending, it can ripple through businesses, jobs, and even political stability. After years of Brexit hangovers and trade jitters, even a modest uptick in confidence could signal the U.K. is finally shaking off some of its economic gloom.

Former President Donald Trump is floating the idea of returning mortgage giants Fannie Mae and Freddie Mac to public ownership, suggesting he's seriously weighing the move if he wins another term. These government-sponsored entities, which back nearly half of U.S. mortgages, have been in federal conservatorship since the 2008 financial crisis. Trump’s comments hint at a potential shake-up in the housing finance system, though details remain vague.

What This Mean: This isn’t just inside baseball for Wall Street—Fannie and Freddie play a massive role in whether everyday Americans can get a mortgage. If Trump pushes to privatize them again, it could mean big changes for homebuyers, lenders, and the broader housing market. But given how politically thorny this issue has been for years, don’t expect a simple or quick resolution.