THE WEEKLY STEEP
Why did the cloud get canceled?
Because it totally ghosted my sunny picnic plans. 🌤️🙄
WHAT’S BREWING
Global
🇮🇳 India’s Q4 GDP Grows 7.4%, Fastest Among Major Economies: Strong construction and services output drive better-than-expected growth in January-March 2025. Read more
🇰🇷 South Korea Votes June 3: After President Yoon’s impeachment, a snap election pits progressive Lee Jae-myung against conservative Kim Moon-soo. Markets watch for shifts in policy, tech, and stability. Read more
🚀 Ax-4 Launch June 8: India’s Shubhanshu Shukla heads to the ISS, the first Indian astronaut to do so, alongside crewmates from the U.S., Poland, and Hungary for a 14-day, 60-experiment mission. Read more
U.S.
Elon Musk Wraps Up Tenure in Trump Administration: after driving bold reforms and pushing for leaner, tech-driven governance. With $175B in claimed savings and lasting influence across agencies, his short stint leaves a disruptive mark on Washington. Read more
Tourism Downturn: Oxford Economics sees an 8.7% drop in visitors to the U.S. this year, with losses near $12.5B. Vegas is down 7%, NYC faces steep declines, and casino giants like WYNN and MGM feel the hit. Read more
Housing Snapshot: Payments Rise, Sales Slide: Median U.S. mortgage payment hit $2,860 in April, just shy of a record high, up 3.6% YoY as rates and prices climb. Meanwhile, pending home sales fell 6.3%, with declines across all regions except a modest Midwest gain. Read more
Spelling Bee 100: Indian Americans have now won 29 of the last 36 titles as the Bee marks its centennial. All eyes on Faizan Zaki and Aishwarya Kallakuri to keep the streak alive. Read more
South Asia
Operation Shield India: nationwide civil defense drill begins May 31, with Punjab’s session on June 3. The exercise, postponed from May 29, tests wartime readiness amid rising tensions after Operation Sindoor. Read more
South Asia: Shifting Power, Rising Tensions: Bangladesh bans the Awami League, fueling unrest after Sheikh Hasina’s ouster. Nepal deepens ties with China through new BRI agreements, though implementation faces delays. Sri Lanka grapples with IMF reforms and public discontent. Regional cooperation faces growing strain amid political shifts.
MONEY MOVES
Market Snapshot: Retail Struggles, Tech Shines: $GAP ( ▲ 2.3% ) warned of up to $300M in tariff hits despite a Q1 beat. $BBY ( ▼ 0.35% ) sees flat sales and lower profits, while $AEO ( ▲ 1.78% ) dropped 8% after a surprise loss and pulled guidance. $ULTA ( ▲ 0.08% ) surged 9% on strong fragrance sales; $COST ( ▲ 0.55% ) posted +7.9% comps despite trade risks. $NVDA ( ▼ 1.12% ) rose 4.8% on strong AI demand, offsetting a $4.5B China hit.
Tariff Tensions Jolt Markets: The TACO (Tariffs and China Outlook) trade is back in play as courts reinstate Trump-era duties. Trade talks with China, Japan, India, and the EU continue but progress is slow. Companies report $34B in trade war losses, global equities saw $9.5B in outflows, and Japan stocks faced a record $12B pullback, while $19.3B flowed into bonds. All eyes now on Trump’s next move. Read more
ELF x Rhode: $ELF ( ▼ 1.96% ) led by Indian American CEO Tarang Amin, is acquiring Hailey Bieber’s skincare brand Rhode for $1B. Co-formulated by Dr. Dhaval Bhanusali, it’s a win for innovation, representation, and beauty. India proud, skincare elevated.
Crypto, Compliance & Cross-Border Strategy: The Bitcoin Conference 2025 served more than just price buzz, it brought real policy shifts, big institutional moves, and cross-border tax talk Indian American investors can’t ignore. Here’s what matters for your portfolio, your paperwork, and your next chai-fueled crypto convo Let’s get into it
Please note: this section includes real-time market data via Stockwits. Not financial advice. Consult a professional before investing.
PLAY BY PLAY
IPL: Rohit lit up the Eliminator with a vintage 81 (off 50), Bairstow brought the fireworks (47 off 22), and Hardik finished the party (38* off 14) as MI piled on 228/5. Gujarat’s Sai Sudharsan hit back with a gutsy 80, but Bumrah & Co. iced it in the final overs. Next Up:
🏏 June 1: Qualifier 2: MI vs Punjab Kings
🏆 June 3: Final showdown vs RCB
Soccer: Champions League Final: PSG faces Inter Milan on Saturday, May 31 at 3 PM ET, live from Munich. Watch it in the U.S. on CBS, Paramount+, TUDN, Univisión, or ViX.
Tennis: Tommy Paul survives another five-setter. Coco, Pegula, and Keys roll on. Djokovic, Sinner, and Alcaraz advance. Night match drama brews. Weekend brings stacked matchups and clay chaos.
Golf: Ben Griffin took the Charles Schwab Challenge, marking his first win of the season. The $20M Memorial Tournament kicked off May 29 at Muirfield Village, with Scheffler, McIlroy, and Schauffele in the field, final round tees off Sunday, June 1.
F1: Lando Norris took the F1 win, and Kush Maini 🇮🇳 made history as the first Indian to win an F2 race at Monaco. Next up: Spain, with the title race tighter than ever.
NBA: The Knicks keep the dream alive with a big Game 5 win, Game 6 heads to Indy, series at 3-2. Thunder soar into the Finals after a dominant run.
Aditya Mittal Joins Celtics Bid: ArcelorMittal CEO Aditya Mittal is investing $1B in the $6.1B Boston Celtics sale, becoming the second-largest stakeholder. The deal marks a historic NBA ownership move, pending league approval. Read more
RAISING ROOTS
Loving Our Parents, Our Way
“Log kya kahenge?” hits different when we’re caring for aging parents.
This week, we’re talking elder care, not as a burden, but as a conversation.
Support, dignity, and showing up with love and boundaries. Read the full piece here
LIVING WELL
Your Summer Sunglasses Swagger, Fully Activated
The mirrored ones you wore to the sangeet? Iconic. The tortoiseshell pair that makes you look like you have TSA PreCheck? Still elite. You’ve got the taste. Let’s match the vibe… See the picks
We’ve Always Been Moving, Now We’re Running the Show
This week, we’re spotlighting the health wins, mental resets, and family group chat flexes that running brings. Whether you’re chasing a 5K or just your peace of mind, this one’s for you… and oh, June 4th is Global Running day. Lace up, let’s go
COSMIC CHAI
Your Weekly Horoscope (May 30 - June 6)
Saturn enters Aries for the first time since the ’90s and it’s bringing structure to the chaos. This week isn’t about riding the vibe, it’s about steering it. With the Sun, Mercury, and Jupiter all in Gemini, there’s movement, momentum, and more than a few plot twists. But clarity only comes when you slow down and get honest. The sky’s shifting, meet it with intention. Read full horoscope here
🌱 Earth Signs: Steady, strategic, and quietly leveling up. Solid wins come from consistency, not speed. Build what lasts and say no to what drains.
💧 Water Signs: Reflective, open-hearted, and emotionally attuned. This week offers healing, insight, and the chance to choose softness without losing strength.
🔥 Fire Signs: Bold, expressive, and ready for something new. Big energy is your default, but it’s your restraint that unlocks real power.
💨 Air Signs: Inspired, expressive, and fully in your element. Ideas flow fast, your job is to ground them in something real.
Cosmic Dates to Know
June 2: A quiet spark turns into something real. Bold ideas begin to move
June 4: Hearts soften, walls lower. Clarity comes through connection
June 6: Love, art, and instinct align. It’s a breakthrough in bloom
EDITOR'S PICK
The IPL Finals 🏆
The IPL 2025 Final hits Tuesday morning and yes, it’s worth planning your day around. Chai? Brewing. Squad? Rallying. Snacks? Handheld and spicy. It’s more than a cricket match, it’s the kind of weekday moment that deserves fuzzy socks, a soft playlist, and a side of goosebumps as India honors its Armed Forces. Set your OOO, turn on Do Not Disturb, and let the Tuesday morning drama begin. Finals watch party inspo? Howzzat
📺 Where to stream, we got you
UPCOMING WEEK (MAY 30 - June 6)
May 31-June 1: Outside Festival, Denver; music, films & gear for outdoor lovers
June 3: IPL Finals; Click here for finals watch party inspo.
June 5-8: CMA Fest, Nashville; country’s biggest party
June 6-8: Governors Ball, NYC; multi-genre music fest
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