Finance
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‘Any semblance of fiscal responsibility’ was abandoned two decades ago, says budget watchdog, and challenges Congress to cut deficit levels by half
The the Committee for a Responsible Federal Budget (CRFB) has blasted policymakers for abandoning “any semblance of fiscal responsibilty,” as well as disregarding loose targeting, to keep the U.S. federal budget in a balanced order. With the national debt now outgrowing the size of the U.S. economy, budget watchdog the CRFB has renewed its call
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Top U.S. oil producer declares ‘green’ light on drilling for more oil amid Iran war
A top oil and gas producer in West Texas’ booming Permian Basin declared a “green” light for the reluctant U.S. energy sector to start churning out more volumes amid the ongoing Iran war and sky-high crude prices. Midland, Texas-based Diamondback Energy—the third-largest Permian player after Exxon Mobil and Chevron—said it is adding both fracking (hydraulic
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‘You could say the ceasefire has ceased’: Iran is back on Wall Street’s radar as oil prices spike 6%
The truce between Iran and the U.S. that has been fraying over the last four weeks finally showed its first real tears on Monday. President Donald Trump said Sunday that the U.S. would help ships get out of the Strait of Hormuz in an effort he called Project Freedom, challenging Iran’s control over the waterway.
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Trump’s former AI czar says the quiet part out loud on the economy: ‘Stopping progress in AI would be equivalent to halting the US economy’
President Donald Trump has framed the current state of the U.S. economy as a “golden age,” and in some ways he’s right. The stock market is at record highs, and economic growth has chugged along adequately. And depending on who you ask, it’s all being supported by one growing industry: AI. “Polls may show that
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America is lucky it’s no longer a manufacturing powerhouse—it’s what’s protecting the U.S. economy from the worst of the oil shock, top economist says
Americans are reeling from the effects of the Iran war—now entering its ninth week—in which the chokehold on the Strait of Hormuz has effectively stopped the flow of more than 20% of the world’s energy supply and has sent countries globally scrambling to find alternatives. In the U.S., average gas prices exceed $4.45—some even touch
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BofA throws cold water on AI apocalypse panic: 60% of today’s jobs didn’t exist in 1940
The doomsday crowd may want to check its history books. As fears of an AI-driven jobs apocalypse intensify across boardrooms, union halls, and college campuses, Bank of America’s global research team is urging a reality check. In a report published April 28, BofA economists argue that the “Armageddon narrative” around artificial intelligence “sits uneasily with both
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Bitcoin breaks $80k as long-awaited CLARITY Act approaches finish line
Bitcoin crossed $80,000 on Monday morning. The cryptocurrency has now surged 19% over the past month, outperforming the S&P 500’s roughly 10% return over the same time frame. The bullish sentiment appears tied to promising developments on the CLARITY Act, a bill that would create a regulatory framework for crypto. The legislation passed the House
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Current price of oil as of May 4, 2026
As of 8:45 a.m. Eastern Time today, oil sold for $115.01 per barrel (using Brent as the benchmark, which we’ll get into momentarily). That’s $3.81 higher than yesterday morning and approximately a $55 rise over the past year. Oil price per barrel % Change Price of oil yesterday $111.20 +3.42% Price of oil 1 month
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Exclusive: Stablecoin startup Rain is worth $1.95 billion and plans to issue cards with Mastercard in a push to woo institutional customers
The buzzy stablecoin startup Rain is now working with the two largest card networks. The company announced on Monday that it was offering credit and prepaid cards with Mastercard. Rain previously only worked with Visa to issue cards. Rain also said it was working with Mastercard to explore how to settle payments with the public
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Trump’s World Liberty Financial countersues crypto billionaire Justin Sun for defamation in response to allegations of fraud
One of the Trump family’s biggest early crypto backers is now a foe. In response to claims of fraud by billionaire Justin Sun, the Trump-backed crypto firm World Liberty Financial filed a countersuit for defamation on Monday in Florida State court, claiming its former ally engaged in “a scorched-earth pressure campaign” against the crypto project