Back in the green – US stocks have staged a remarkable recovery, with the S&P 500 Index surging 22% since its April 8 low, rebounding from the brink of a bear market. This powerful rally has restored an estimated $9.8 trillion in market value, fueled by easing inflation and growing hopes that the Federal Reserve may soon begin cutting interest rates. (Source: CNN, as of 6/26/25)

Crude awakening – Oil prices surged nearly 4% on June 23, following US military strikes in Iran that raised fears of a broader conflict that could disrupt global energy supplies. But by the following day, prices retreated as analysts noted that Iran has, so far, held back from closing the Strait of Hormuz, a chokepoint for 20% of the world’s oil. Although experts predict that Iran is unlikely to close the Strait of Hormuz, ongoing tensions in the region could see further energy disruptions and price volatility. (Source: CBS News)

Just keep swimming – The share of American homeowners who are underwater—owing more on their mortgage than their home is worth—hit a five-year high in April, a troubling sign for the housing market. Underwater homeowners who wish to sell may end up having to cover the difference between the sale price and the outstanding mortgage balance. Lenders typically won't refinance when an owner is underwater, either, so even if mortgage rates come down, there may be little relief. (Source: The Wall Street Journal) 

Job jitters – Amid continued uncertainty, US consumer confidence unexpectedly deteriorated in June as households increasingly worried about job availability—another indication that labor-market conditions are worsening. The share of consumers who said jobs are plentiful fell to its lowest level since March 2021. (Source: Reuters)

This Barbie has a side hustle – The share of Americans working multiple jobs has climbed to between 5.3% and 5.5%, levels not seen since the early 2000s recession, as nearly 40% of millennials and Gen Zers now juggle side hustles—often out of necessity rather than passion. With 52% of side hustlers saying they do it just to make ends meet, today’s gig economy reflects a growing sense of financial insecurity, even in the absence of an official downturn. (Source: The Wall Street Journal)

More bang, more bucks – After a one-day summit in the Netherlands, NATO members have agreed to raise their defense spending to 5% of their national income in the next 10 years. That amount consists of 3.5% on traditional military needs such as troops, weapons, shells, and missiles—up sharply from the current target of 2%. It also includes another 1.5% on militarily adjacent projects such as improved roads and bridges, better emergency healthcare, better cybersecurity, and civic resilience. (Source: The New York Times)

Early isn’t always a good thing – Key Social Security trust funds could hit budget shortfalls sooner than expected: The combined Social Security trust funds for retirees and disabled Americans are projected to run short by 2034, a year earlier than previously expected. Without congressional action to boost funding, the program will only be able to cover 81% of scheduled benefits and administrative costs, raising the risk of reduced payments for millions. (Source: AP News)

Use it or lose it? – A new MIT study suggests that relying on AI tools such as ChatGPT may be dulling our brains, with AI aficionados showing the lowest levels of cognitive engagement and creativity compared to those using traditional methods. Over time, participants grew increasingly passive, copying and pasting AI-generated content rather than thinking critically or originally. The findings raise concerns that as AI becomes more embedded in daily life, it could quietly erode essential thinking skills across society. (Source: TIME) 

Teamwork makes the dream work – For the first time in 41 years, an Indian astronaut has launched into space, joining crewmates from Poland, Hungary, and the US on a two-week mission to the International Space Station. The flight is a landmark collaboration between NASA, ISRO (the Indian Space Research Organization), ESA (the European Space Agency), and SpaceX, marking a new era of global and commercial partnerships in space exploration. (Source: BBC)

Whistle while you work – Phil Crossley has set a new world record for the longest career as a football referee, clocking 58 years on the pitch and officiating over 2,000 matches across all levels of English football. Starting at just 17 years old, Crossley’s journey has taken him from local Sunday leagues to Wembley Stadium, making him a fixture in the game for more than half a century. (Source: Guinness World Records)