Wednesday 18 June 2025
The Mighty Headlines
Economics: US records drop in retail sales
Business and markets: Israeli stock market hits all-time high
Foreign Affairs: China signs new deal with “The Stans”
Security and intelligence: US gets involved over Iran
Domestic politics: Downing Street says small boat crossings “deteriorating”
The Mighty Stats
FTSE = 8,834.03 (down 0.46%)
S&P 500 = 5,982.72 (down 0.84%)
Nasdaq = 19,521.09 (down 0.91%)
CAC40 = 7,683.73 (down 0.76%)
£1 = $1.34 / €1.17
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The Mighty Detail
Economics: The US recorded a drop in retail sales last month of 0.9 per cent. This was more than the 0.6 per cent that had been expected. The drop may partly be the result of US consumers buying goods earlier in the year in advance of US tariffs coming into force.
Business and markets: The Tel Aviv 35 stock index hit an all-time high yesterday. It comes as investors see the potential economic benefits to Israel of eliminating the threat posed by Iran. European markets, however, closed between 0.5 per cent and 1 per cent lower yesterday.
Foreign Affairs: As the G7 met in Canada yesterday, China’s President Xi signed a treaty with five Central Asian countries. The deal aims to deepen trade, energy and infrastructure cooperation with Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan. China last held a summit with The Stans in 2023, also when the G7 was meeting.
Security and intelligence: President Trump called for Iran’s “unconditional surrender” yesterday, stating that “we now have complete and total control” of Iranian skies. US military aircraft are reported to be mobilising to move to the Middle East.
Domestic politics: Downing Street has said that that the number of small boat crossings by migrants across the English Channel is “deteriorating”. The total number of migrants coming across the Channel has reached a little over 16,000 this year. This is 42 per cent higher than at the same point last year.
The Mighty Calendar
What’s happening today?
US Federal Reserve interest rate decision
President Macron speaks at UN conference on Palestine
Prime Minister’s Questions in UK Parliament
UK, Eurozone CPI inflation data (May)
Lookahead to tomorrow
US public holiday (Juneteenth)
Deadline for ByteDance to divest from TikTok in the US
Bank of England interest rate decision
Sir John Major gives speech on standards in public life
The Mighty Finale
🌤️Weather today
Sunny in England. High of 27C and low of 15C in London. Light cloud in Belfast and Edinburgh.
✏️Life coaching quote of the day
“People who cannot find time for recreation are obliged sooner or later to find time for illness.” – John Wannamaker, US businessman and public official
Mighty takeaway: Take time to rest amid the business of modern life.
That’s it for this Wednesday morning. Thanks for reading and we’ll see you again on Friday.
Cheerio!
The Mighty Memo team