The U.S. trade deficit widened in May, fueled by a drop in exports that could heighten concerns over weak overseas demand and a strong U.S. dollar.
The growing parallels between 2015 and 1998 in global market forces—soaring U.S. dollar, plummeting oil prices, rising equities, rising volatility and flattening U.S. yield curve—are startling.

Going For a Record

Let the excessive extrapolation and analysis of the vague transcriptions from a month-old meeting of ivory tower academic economists begin!
Retail gasoline prices have hit their high for the year, but the news is not all bad. Despite the fact that AAA says prices have risen 17 cents a gallon, hitting $265 per gallon, prices are a lot lower than a year ago--and taking into consideration the fact that crude oil prices have soared, it could have been a lot worse.
EIA reports total U.S. net imports of energy declined in 2013 to their lowest level in more than two decades.
Wal-Mart Stores Inc., the world’s largest retailer, cut its annual profit forecast for the second time since August as the uneven economic recovery and increased competition from dollar stores hurt sales. The shares fell.
China's imports have surged in recent years from OPEC nations such as Saudi Arabia, Iraq and the United Arab Emirates, according to Chinese customs data. The U.S. is still No. 1 in crude imports from the entire world.
Stockpiles of the biggest crops will decline for a third year as drought parches fields across three continents, raising food-import costs already forecast by the United Nations to reach a near-record $1.24 trillion.
Speculators slashed wagers on higher agricultural prices by the most in eight weeks, missing out on this year’s biggest rally as parched fields from South America to Europe curbed expectations for record harvests.