Rio Times Global Economy Briefing
The Big Three
The streak broke. The S&P 500 fell 0.74% to 7,553.68, snapping nine straight winning sessions as the Dow shed 620 points and oil spiked on renewed US-Iran strikes.
Oil headed back toward $100. WTI rose 2.41% to $96.02 and Brent to $97.81 after the two sides traded heavy fire overnight, reviving the inflation channel that pins the Fed.
The economy stayed hot. ADP added 122K jobs, beating consensus, while ISM Services rose to 54.5 with new orders surging to 57.3 — resilience that argues against rate cuts.
