Argentine President Mille announced that he would sign a decree to partially privatize Argentina's national electric power company.

The top 10% of US income earners account for nearly half of consumer economic growth, highlighting growing imbalances. The continued rise in the share of wealthy consumers in US consumer spending highlights the imbalance in economic performance, while slowing hiring and cautious attitudes among other income groups are fueling concerns about a slowdown. Moody's Analytics Chief Economist Mark Zandi said that in the second quarter, consumers in the top 10% of the income distribution accounted for 49.2% of total consumer spending, up from 48.5% in the first quarter and the highest level since 1989. These data help explain why the economy has avoided a recession and maintained growth despite a sharp decline in hiring, rising debt delinquencies, and stubborn inflation weighing on many households. Preliminary revisions to the nonfarm payrolls benchmark released last week indicate that monthly job creation in the 12 months ending in March averaged only about half the previously reported rate. Some economists worry that the current trend of a minority of Americans supporting the economic expansion through a growing share of consumer spending could undermine the foundations of growth, especially as other risks intensify.

WTI crude oil rose 1.5% during the day to $63.71 per barrel, as investors focused on supply risks from Russia and the Middle East.

Grain Prices Rise, Boosted by a Weaker Dollar: A weaker dollar and the likelihood of a Federal Reserve rate cut tomorrow are boosting grain futures on the Chicago Board of Trade. "I think it's optimism about rate cuts and a lower dollar," said Phil Flynn of Price Futures Group. He added that other factors include lower yields due to weather in U.S. growing regions and the possibility of a trade deal with China, hinted at by President Trump on his Truth Social account this week. Corn futures on the Chicago Board of Trade led the gains, rising 1.4%; wheat futures rose 1.3%, and soybean futures rose 0.5%. Meanwhile, the U.S. dollar index fell 0.6%.

Spot platinum just broke through the $1,390.00/ounce mark and was last trading at $1,389.75/ounce, down 0.57% on the day. The main Nymex platinum futures contract was last trading at $1,406.6/ounce, down 0.75% on the day.

[The main contracts of domestic futures night trading closed with mixed gains and losses] The main contracts of domestic futures night trading closed with mixed gains and losses, low-sulfur fuel oil and fuel oil rose by more than 1%, rapeseed oil, cotton yarn and asphalt rose slightly; in terms of decline, iron ore, hot-rolled coil, rebar and soybean oil fell slightly.