Friday's News Links

[CNBC] Stocks gain on solid jobs report, hope for China trade talks: Live updates

[Yahoo/Bloomberg] Oil Set for Weekly Loss Amid Trade War, Iran Risks, OPEC+ Moves

[CNBC] U.S. payroll growth totals 177,000 in April, topping expectations

[Yahoo/Bloomberg] No Fed Cuts Until September Despite Rising Risks, Economists Say

[AP] White House will unveil Trump’s 2026 budget, his first since returning to power

[Axios] Mortgage rates get more treacherous

[AP] Home ownership further out of reach a rising prices, high mortgage rates widen affordability gap

[Yahoo/Bloomberg] China Hints at Possible Thaw With US in Evaluating Trade Talks

[AP] China says it’s evaluating US overtures for trade talks, but tariffs remain an obstacle

[Yahoo/Bloomberg] Trump Moves to Cut Iran’s Oil Sales as Nuclear Talks Stall

[Reuters] S.Korea factory activity suffers worst slump in 2-1/2 yrs on US tariffs, PMI shows

[Reuters] Iran must 'walk away' from all uranium enrichment, Rubio says

[Reuters] Trump's Iran nuclear diplomacy needs major concessions to go beyond previous pact

[Yahoo/Bloomberg] US Urges India, Pakistan to De-Escalate Tensions

[Bloomberg] Trump Budget Seeks 23% Domestic Spending Cut, 13% Defense Hike

[AP] Trump signs executive order directing federal funding cuts to PBS and NPR

[Bloomberg] Head of the Port of LA Sees a Brewing Trade Storm

[Bloomberg] Student Loan Borrowers Face Wage Garnishment as Defaults Surge

[WSJ] What’s Driving Trump’s Trade Agenda

[WSJ] Trump to Propose Slashing $163 Billion in Government Programs in Budget Blueprint

[WSJ] Harvard’s Tax-Exempt Status to Be Revoked, Trump Says

[FT] How China is quietly diversifying from US Treasuries

[FT] Japan says US Treasury holdings could be ‘card’ in trade talks

[FT] Tett: Get ready for a corporate rush for cash

[FT] Hedge funds > private equity

[FT] Is ‘hidden leverage’ an accident waiting to happen?

Thursday Evening Links

[CNBC] Stock futures slip after Amazon and Apple post earnings, big jobs report looms: Live updates

[CNBC] Apple shares fall as Cook says ‘very difficult’ to predict tariff costs beyond June

[Axios] Trump threatens massive new China sanctions over Iranian oil

[AP] Trump threatens sanctions against buyers of Iranian oil after US-Iran nuclear talks are postponed

[Reuters] Japan's US Treasury holdings among tools for trade talks, Finance Minister Kato says

[Bloomberg] Apple Says Tariffs Will Add $900 Million in Costs This Quarter

[Bloomberg] Bank Reserves at Fed Drop to $3 Trillion, Lowest Since Jan. 1

[WSJ] Middle-Income Consumers Feel Pinched. That’s Bad for Some of America’s Best Known Brands.

[FT] A dangerous stand-off between India and Pakistan

Thursday Afternoon Links

[CNBC] Dow rises 200 points to kick off May as Microsoft, Meta rekindle AI trade: Live updates 

[Yahoo/Bloomberg] Yen Slides as Bank of Japan Pours Cold Water on Rate Hikes

[Axios] Manufacturing sector shrinks again in April as tariffs hit businesses

[Yahoo/Bloomberg] SALT talks stall as GOP mulls limiting tax break to middle class

[Yahoo/Reuters] US construction spending falls in March

[Yahoo Finance] Mortgage rates drop as bond market stabilizes

[Bloomberg] US Bonds Slide as Factory Data Spurs Pullback in Rate-Cut Bets

[Bloomberg] Summers Says Wrong to Say Markets Tell Fed It Should Cut

[Bloomberg] Large AI Projects Present $1.8 Trillion Capital Pool for Private Credit

[Bloomberg] High-Yield Munis Post Worst Month Since 2023 After Tariff Rout

[Bloomberg] Schwab Warned Thousands at Risk of Margin Calls as Volatility Soared on Trade War

[Bloomberg] How Houthi Red Sea Ship Attacks Upended Global Trade

[NYT] A Tidal Wave of Change Is Headed for the U.S. Economy

[WSJ] Why China Could Win Trump’s Trade War