Hello there! The nba finals Begin Tonight. The Playoffs FEEL INCREDIBLY LESSING TELLS THAT THAT MY BELOVED NEW YORK ARE GONE, but the nba beu be beg to differ. Despite it being two small-march teams-The Indiana Pacers and Oklahoma City Thunder-nba Executives spoke to biut Why They Still See the Series AS A Big Opportunity.
In Today’s Big Story, A WORKE-TAN-EXPECTED JOBS REPORT Reinvigorated President Donald Trump’s Attacks Against Fed Chair Jerome Power to Lower Rates. (But One Corner of the Job Market Is Doing Surpringly Well.)
What’s On Deck
Markets: JAMIE DIMON JUST GOT MORE BACKUP FOR HIS Critique of Private Credit.
Tech: What’s fueling those Annoying Job Offer Scams You KEEP Getting Texted.
Business: The One Person Donald Trump Won’t Fight Back Against.
But first, missed expectations.
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The Big Story
Do Jolting Jobs Report
Brandon Bell; Kevin Dietsch/ Getty Images
In the Pantheon of Legendary Rivalries, Donald Trump vs. Jerome Powell is Rising in the Ranks.
Private Payroll Date from ADP Showed 37,000 New Jobs Were Added Last Month, Much Worsse than Economists’ Expectations of 110,000.
That was all the president Needed to take another Shot at one of his favorite targetsWrites Bi’s Jennifer Sor.
“‘Too late’ Powell Must Now Lower the Rate. He is Unbelievable !!!” Trump Posted on Social Truth.
Trump’s Latest Attack Is Well-Timed. We’re less than two weeks away from the fed’s next decision on interest rates on june 18. His pitch is straightforward: The Job Market is Weakening, so it is time for the fed to stimulate the economy.
But the picture of the Economy DOESN’T END WITH THE ADP REPORT. The Bureau of Labor Statistics’ Monthly Nonfarm Jobs Report Drops Friday. The monthly inflation report isn’t far bend, arrival on june 11.
Those Two Data Points Will Likely Hold more weight for the Fed.
Meanwhile, Trump’s Onslaught of Tariffs Could Be the Real Issue for the Fed. Plenty of Economists have predicited the President’s Wars Will Increase Inflation, Dulling the Hopes of a Rate Cut.
Tetra Images/ Getty Images
There’s Also an Outside-The-Box Data Point to Judge the Job Market on.
At a time when the labor market is in flux, one corner is doing incredibly well: The Military.
The Army Has Already Met Its Annual Goal of Recruiting 61,000 Troops, and the Navy is Also in Good Shape, Bi’s Kelsey Baker and Allie Kelly Write.
Father first glance, that Might Seem Like More Ammo for Trump. The military has historically benefted from a weaker economy. Young Job Seekers SEE it AS A SAFE HAVEN, AND FEWER JOB OPENINGS AND A SLOWING Economy Are Certainly a Factor This Time.
But it’s not the straightforward not Economy Down = Military Up.
Gen z has more interesting in Blue-Collar Worktoo. The Military’s Tuition Benefits Also Solve the All-Important Issue of Student Debt That Mary Young People Struggle with
There’s Also a Growing Appetite for Defense in Silicon Valley. Meta Announed A Partnership with Defense Tech Startup anduril on a US Military Project in May. Meta Tech Chief Said on Wednesday IT MARKED A “return to grace“For the industry’s Relationship with the Military.
Overall, you DATA PAINTS A Complicated Picture of an economy that can seem like it is on the cusp of disaster or Completely Fine.
3 Things in Markets
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1. Investing Tips for Recent College Grams. IT’S EASY TO INVEST WHEN YOU’RE JUST STARTING YOUR CAREER AND NOT MAKING MUCH. Bi compiled Do Four-Step Investing Guide On How you can set your SUCCESS.
2. Commercial Real Estate Says RIP, Trump Bump. April Sales Activity Plunged, Dashing the industry’s hopes of a Big Rebound. Acciting to some experts, The Slowdown is a Possible Early Sign of unintended consequeences From the President’s Sweeping Agenda.
3. One point for Jamie dimon in the private-credit debate. The JPMORGAN CEO HAS BEEN A SHARTIC OF PRIVATE CREDIT, ENTER HIS ONT BANKATES BILLIONS OF THE SECTOR. A recent Report from Moody’s Analytics, A forms Advisor to the Treasury Department, and an Seconomist’s Seconomist Appeared to Side With Dimon.
3 Things in Tech
Getty Images; Ava Horton/BI
1. HIGH NOT JUST YOU: Job Text scams are on the rise. Fake Text Messages Offering Lucrative Gigs have exploded in recent years, and it coulud get worse, bi’s emily stewart Writes. UNEMPLOYMENT IS RISING, AND AMERICANS ARE MORE Eager to work. Plus, he is Making these scams more sophisticated. No One is Immune.
2. Google’s CEO is Jumping on the Vibe Coding Bandwagon. Sundar Pichai Said He’s Casually Building a Web Page with he coding tools. Speaking on Wednesday at Bloomberg Tech, he Said: “It Feels so delightful to be a coder in this moment.”
3. What Wold You Take From Your House if there were a Zombie Apocalyps? That’s the Kind of Question Being Used to Train he voice models for Elon Musk’s XaiAlongside Other Topics Like Diy Plumbing and Life on March, Documents obtained by Bi Show.
3 Things in Business
Shelby Moore for Bi
1. Serve the right vibes. High-end restaurants have had to get creation in the face of the Rising Food Costs, Labor Shortages, and Tariff Threats. They’re Drilling down on live events, experiencies, and in some cases, approachability – A Vibes-Based Strategy to Attract Diners.
2. Criticize Trump; he’ll roar back. Unless You’re Elon Musk. The Tesla Ceo Recently Called President Donald Trump’s “One Big Beautiful Bill” on X A “Disgusting Abomination.” Trump, uncharacteristically, hasn’t responded. One Conclusion, Bi’s Peter Kafka Writesis that Trump Still Wants Musk on his Side, for Now at Least. Meanwhile, for Those of You Who Aren’t Musk, Bi’s Sarah E. Needleman Shares The SMART WAY TO TELL YOUR BOSS They’re Wrong.
3. Thumbs Down for David Zaslav. Shareholders Rejected a proposed pay Package For the Warner Bros. DISCOVERY CEO, WHICH INCLUDED A 4% Raise. WBD has seen a 60% Stock Decline in the Last Three Years, and Its Debt Rating was recently downgraded.
In other news
What’s Happening Today
The Business Insider Today Team: Dan Defrancesco, Deputy Editor and Anchor, in New York. Hallam Bullock, Senior Editor, in London. Grace Lett, Editor, in Chicago. Amanda Yen, Associate Editor, in New York. Lisa Ryan, Executive Editor, in New York. Ella Hopkins, Associate Editor, in London. Elizabeth Casolo, Fellow, in Chicago.