Trump Secures $600 Billion in Investments From Saudi Arabia; US Inflation Slows to Lowest Level Since 2021

President Donald Trump secured a $600 billion commitment from Saudi Arabia on Tuesday to invest in the United States after the oil power accorded him a gala welcome at the start of a tour of Gulf states. The U.S. agreed to sell Saudi Arabia an arms package worth nearly $142 billion, according to a White House fact sheet that called it "the largest defense cooperation agreement" Washington has ever done.

The U.S. annual inflation rate eased to its lowest level in more than four years, as President Donald Trump’s tariffs started stretching throughout the U.S. economy. According to the Bureau of Labor Statistics (BLS), the annual inflation rate declined to 2.3 percent in April, from 2.4 percent in March. This represented the third consecutive monthly slowdown and the lowest reading since February 2021.

UnitedHealth Group on Tuesday suspended its 2025 forecast, just weeks after lowering its outlook, and announced the surprise exit of CEO Andrew Witty, sending its shares down 8 percent premarket. Stephen Hemsley, who served as CEO from 2006–2017, will take over from Witty. The announcement also pulled down shares of other health insurers such as Humana, CVS, and Elevance between 1 percent and 3 percent.