Weekly Economic Report 6.12.26

Well, Elon Musk is the world’s first trillionaire and President Trump says that an agreement will be signed with Iran on Sunday. SpaceX traded almost 20% higher at the close on Friday, confirming strong demand for AI opportunities. Oil prices slipped under $85 for WTI, just $1.50 off the low point since the war in Iran started. Good news on AI and energy is essential to a continued strong economy in the second half of 2026 – as the umph from the big refunds generated by the One Big Beautiful Bill and the onset of tariff refunds, at $22 billion in May, will already be in the rear-view mirror – and the potential shift in the House to Democrat control for 2027 will limit non-AI corporate optimism (maybe AI too!)

EU06-12-2026.pdf

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