Positive noises from the White House about Iran negotiations have analysts looking ahead to a side-step many of the stagflationary surprises they had been fearing.
With tensions in the Middle East dragging on and oil prices rising higher as a result, economists had feared that inflation, paired with slowing growth, would lead to a stagnating economy with rising prices. But suggestions that a deal may be possible were enough to boost markets’ mood this morning, as Deutsche Bank’s Jim Reid noted: “The positivity saw the S&P 500 (+0.58%) hit another record yesterday, advancing for a 6th consecutive session, with futures up another +0.05% this morning …
"So even before the formal confirmation of any deal, there’s already been a strong reaction in markets.”
ONE BIG THINGWhite-collar woes
White-collar work was never meant to stick around indefinitely, ADP’s chief economist Nela Richardson recently told Fortune’s Nick Lichtenberg. While many are concerned that AI will mean the end of the office jobs they recognize today, significant labor market shifts were inevitable.
