🔵 Here are the key takeaways from President Donald Trump's "lavender carpet" visit to Saudi Arabia yesterday:
✔️ Economic Deals and Investments: Trump secured a $600 billion investment commitment from Saudi Arabia into the U.S. economy, focusing on sectors like AI, energy, infrastructure, and defense. This included a $142 billion arms deal, described as the largest defense cooperation agreement in U.S. history, covering air and missile defense, maritime security, and more. Additional deals involved U.S. companies like Google, Oracle, and Boeing, with Saudi investments in AI data centers and energy infrastructure. ✔️Lifting Sanctions on Syria: Trump announced the lifting of U.S. sanctions on Syria, in place since 1979, to support the country’s reconstruction under its new leadership following the fall of Bashar al-Assad. This decision was made at the request of Saudi Crown Prince MBS and was celebrated in Syria as a step toward economic recovery. Trump also planned a brief meeting with Syria’s new president, Ahmed al-Sharaa, in Riyadh.
🚨 BREAKING NEWS: US CPI for June just came in at -0.1% MoM below expectations of 0.1% MoM
US CPI for June just came in at +3% YoY below expectations of +3.4% YoY Core CPI inflation fell to 3.3%, below expectations of 3.4%. This marks the 39th consecutive month with inflation at or above 3%. It's also the 3rd straight month with declining CPI inflation. Looks like a September rate cut is coming. Source: Jesse Cohen
