Author: Money Mechanics

(Image credit: Getty Images)Unless you have been avoiding the news lately, you have likely heard about the hantavirus outbreak now affecting several countries, including the U.S. The virus originated on the Dutch MV Hondius cruise line, which departed from Argentina on April 1.While the spread of the virus is sparking panic and fear that it could be the start of a COVID-like pandemic or even worse, the good news is that the World Health Organization, the U.S. Centers for Disease Control and Prevention, and infectious disease doctors don’t think that’s likely at this point.The CDC has classified the outbreak as…

(Image credit: Getty Images)Oil briefly spiked back above $100 Monday after President Donald Trump rejected a peace proposal from Iran as “totally unacceptable” on Sunday, but all three main U.S. equity indexes held on for modest gains amid a solid earnings season and more signs of strength for the market’s major trend.”I would say the ceasefire is on massive life support… when the doctor walks in and says, ‘Sir, your loved one has approximately a 1% chance of living’,” Trump said to White House reporters today about the state of play in the Middle East.The front-month West Texas Intermediate crude…

Bitcoin (BTC-USD) opened at $82,164.43 on Monday, the strongest opening price since January 31. As of 7:16 a.m. ET, the price of bitcoin shifted lower to $80,971.89. Ethereum (ETH-USD) opened at $2,369.40 on Monday, the highest opening price since April 27. The price of ethereum moved lower this morning and was $2,331.11 as of 7:16 a.m. ET. The markets are all processing the latest news out of the Middle East this morning. President Trump emphatically rejected Iran’s latest response to a peace proposal, calling it “TOTALLY UNACCEPTABLE!” in a Truth Social post yesterday. So far this morning, we’ve seen the price…

In-brief analysis May 11, 2026 Total energy production in the United States increased to a new record of 107 quadrillion British thermal units (quads) in 2025, a 3.4% increase from the previous record set in 2024, according to new data in our Monthly Energy Review. Total production was driven by record-high production in natural gas, crude oil, natural gas plant liquids (NGPLs), and renewables. This was the fourth consecutive year in which the United States set a record for total energy production. Dry natural gas production grew more than 4% from 2024 to a record-high…

Central Park Tower, center, along Billionaire’s Row in New York, US, on Friday, May 1, 2026. Michael Nagle | Bloomberg | Getty ImagesHigh-end real estate sales in Manhattan increased in the past month, according to new data, despite New York Mayor Zohran Mamdani’s proposed pied-à-terre tax that brokers warn could cause a wealth flight.There were 133 contracts signed for apartments priced at $4 million or more between April 14 and May 10, according to Olshan Realty. That compares with 130 during the same period last year. The total dollar volume increased by 10% to $1.12 billion, Olshan said.Sales at the…

Five-year-old European military drone startup Helsing is reportedly close to raising a new $1.2 billion round at about an $18 billion valuation. The round is expected to be led by Dragoneer and co-led by existing Helsing investor Lightspeed, the Financial Times reported. Helsing last raised just under a year ago, in June 2025, in a deal that was led by billionaire Spotify founder Daniel Ek. That was a €600 million investment at an estimated €12 billion valuation ($14 billion USD). So this new round is a step-up. While Helsing isn’t the only European unicorn defense tech, it is by far the…

(World Oil) – The reputation of the Strait of Hormuz as a reliable artery for global energy trade may be permanently damaged by its prolonged closure, International Energy Agency Executive Director Fatih Birol said. Even if movement is restored, “the vase has been broken. You can’t glue it back together,” Birol said, warning that the disruption has undermined confidence in what was once one of the world’s most critical oil and gas choke points. “If it was once closed, it can be closed again.” Speaking to reporters in Vienna, ahead of a meeting with Haitham Al Ghais, secretary general of the…

Plan ahead to make sure your confidence will last the rest of your life.gettyThere is little evidence of a widespread retirement crisis among current retirees, according to EBRI’s 2026 Retirement Confidence Survey. This conclusion comes in spite of differing predictions from various pundits for a few decades. For example, the survey reports that two in three retirees say they’re living the lifestyle they envisioned, and three in four say they can spend amounts they want within reason. In addition, almost three in four retirees (73%) report being very confident or somewhat confident in having enough money in retirement. These statistics…

Sales of existing homes inched up in April, driven by modest gains in affordability that managed to outweigh market uncertainty stemming from the ongoing conflict in the Middle East. Existing-home sales rose 0.2% last month from March to a seasonally adjusted annual rate of 4.02 million, but remained unchanged year over year, the National Association of Realtors® reported Monday.Month-over-month, sales of previously owned homes accelerated in the Midwest and the South, were flat in the Northeast, and declined in the West. Compared to last April, sales rose in the South, were stagnant in the West, and fell in both the Northeast and Midwest.Condominiums…

Our FRED graph above shows that unemployment is almost always doing one of two things: (1) declining slowly during expansions or (2) rising rapidly during recessions. Friedman (1964, 1993) compared this behavior to playing a musical instrument, describing it as a “plucking model” of unemployment. Over the past 3 years, however, the unemployment rate has done something it almost never does: It has risen slowly from a low level, but there has been no sharp rise accompanied by a recession. Our non-FRED graph below* illustrates how unusual this behavior is. The jagged red line is the US civilian unemployment rate.…