A key U.S. inflation gauge slowed last month as President Donald Trump's tariffs have yet to noticeably push up prices. Spending by Americans slowed despite rising incomes, potentially an early reaction to higher prices on some imported goods.

The US Federal Reserve's preferred inflation measure cooled more than expected last month, according to government data published Friday, as President Donald Trump's "liberation day" tariffs on most countries came into effect.

Shortened trading week to feature inflation data, Nvidia earnings, political are fights brewing this summer, Musk is back at Tesla, and more news to start your day.

Despite fears that President Trump’s “liberation day” tariffs risk stoking inflation, the market by some measures doesn’t seem too concerned about the potential for a runup in consumer prices.

Recent polls show Trump’s lowest approval ratings on inflation and cost of living, highlighting growing concerns over his economic policies and tariffs.

Vice President JD Vance commended digital assets such as bitcoin as an option for people left out of traditional financing.

Official figures showed last week that British inflation had jumped to a higher-than-expected annual rate of 3.5% in April, from 2.6% in March. Taylor, however, said he was not concerned by the data as the higher inflation was "coming out of one-time tax and administered price changes.

Asian shares are trading mostly lower, as uncertainty grew about what will happen next after a U.S. court blocked many of President Donald Trump’s sweeping tariffs