As the week comes to a close, here’s a look at the top economic stories that shaped the week.

Dr. Copper’s Price Surge Suggests A Booming Economy

The price of copper, often considered a barometer for the U.S. economy, has surged by nearly 50% over the past year, reaching a four-year high. This surge is indicative of a booming economy, with industrial stocks already reflecting this trend.

Analysts believe that the price of copper is a faster and more accurate indicator of the U.S. economy’s health than traditional economic data. Freeport-McMoRan Inc. (NYSE:FCX) and the Global X Copper Miners ETF are among the industrial stocks that have already benefited from this trend.

Read the full article here.

Nikki Haley Warns As US Debt Nears $40 Trillion

With the U.S. national debt on the brink of reaching $40 trillion, former U.S. Ambassador Nikki Haley has criticized politicians for ignoring this financial threat. The national debt currently stands at over $39.93 trillion, and the country is expected to cross the $40 trillion mark within the next two weeks.

Haley’s warning highlights the potential financial crisis that could affect younger Americans. The U.S. Debt Clock indicates that the country is nearing the $40 trillion threshold, a situation that Haley believes could leave an entire generation in financial ruin.

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Wall Street Celebrates Despite Job Losses

Despite a loss of 23,000 nonfarm payrolls in July, the American economy experienced its best week since April. This unexpected turn of events is attributed to the Federal Reserve’s change in course, which was initially anticipated to be an upward shift.

The reversal in the payroll count led to a widespread market upswing, challenging the notion that a shrinking job market would negatively impact the economy.

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Trump’s Tariffs Fail To Drive Manufacturing Boom

Despite President Donald Trump‘s emphasis on reshoring manufacturing through tariffs, the manufacturing revival was not due to these tariffs. The ISM Manufacturing PMI surged to 55.6 in July from 53.3 in June, marking its highest reading since May 2022.

All five components directly contributing to the headline index moved into expansion territory, with production reaching 58.5, its highest reading since November 2021. This growth was not attributed to tariffs but rather to other factors.

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Trump Administration Invests $2 Billion To Reduce China’s Mineral Dominance

The Trump administration has pledged over $2 billion to battery and critical-minerals companies to reduce U.S. reliance on Chinese suppliers. This move is part of a larger government lending initiative aimed at bolstering the U.S. manufacturing sector.

The Defense Department will provide California-based battery maker Sila Nanotechnologies with $1.4 billion. This investment is expected to strengthen the U.S. manufacturing sector and reduce its dependence on China for critical minerals.

Read the full article here.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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