Key Points

• May Consumer Price Index Shed Light on Inflation Levels
• Trump's Arraignment Looms as Former Ally Barr Doesn't Defend Him
• George Soros’s Son, Alex, Takes Control of a $25 Billion Empire
• JPMorgan Chase Settles Lawsuit with Epstein

May Consumer Price Index Shed Light on Inflation Levels

On Monday morning, U.S. stock futures increased as the S&P 500 broke its four-week winning streak. There will be plenty of hints in the upcoming days about how the Federal Reserve will manage future rate increases in its effort to control inflation. The latest indication of how much prices are rising will be provided by the May consumer price index, which is coming on Tuesday. After a series of Fed rate hikes since last year, inflation has decreased but is still persistently high. On Wednesday, the central bank will announce its policy choice and provide new details regarding its upcoming initiatives. Traders believe that the Fed will suspend the onslaught of raises this month more likely than not as we move into the coming week.  Last month, the Fed increased its benchmark interest rate by a quarter of a percentage point.

Trump's Arraignment Looms as Former Ally Barr Doesn't Defend Him

Following the ex-president's indictment on 37 federal counts saying he kept hundreds of sensitive documents during his time in the White House and attempted to prevent their handover to U.S. officials, at least one of his erstwhile pals is refusing to defend him. In an interview with "Fox News Sunday," Bill Barr, who was Trump's attorney general at the time, described the indictments as "very damning." "If even half of it is true," added Barr, "then he's toast." He also branded it "ridiculous" to say that Trump is the victim of a witch hunt, which is what many Republicans are doing. Trump is scheduled to be charged in the case on Tuesday.

George Soros’s Son, Alex, Takes Control of a $25 Billion Empire

Philanthropist George Soros will give his 37-year-old son Alex management of his vast $25 billion enterprise. Over the years, the 92-year-old Soros has contributed billions of dollars to Democratic organizations in the United States, making him a target of right-wing and antisemitic conspiracy theories. Alex Soros claimed to be "more political" than his father in an interview with The Wall Street Journal. The younger Soros expressed concern over Donald Trump's potential ambition to win the White House back next year and said he might play a significant role in campaigns to dethrone the outgoing leader.

JPMorgan Chase Settles Lawsuit with Epstein

One of the victims of the late sexual abuser Jeffrey Epstein filed a lawsuit against JPMorgan Chase, the bank announced on Monday. The Epstein accuser claimed that JPMorgan continued to work with the financier despite red flags being raised about him and that he utilized money from his bank accounts to support sex trafficking. Along with the bank's legal actions against former executive Jes Staley, a lawsuit against JPMorgan has been filed in the US Virgin Islands. According to the bank, the parties "believe this settlement is in the best interests of all parties, especially the survivors who were the victims of Epstein's terrible abuse."