Everything from clothing to household items are getting more expensive each day. The world of fast fashion has complicated clothing production by outsourcing around the world to whoever can sew them the cheapest. And now you, the consumer, are paying the price with rising costs. American Giant is about keeping things simple and close to home. They aren't affected by tariffs because their products never leave the U.S.
So when you buy from American Giant, you're taking a stand for hardworking people, local communities, and quality clothes. American Giant directly supports American manufacturers and ensures you aren't footing that tariff bill.
Hey, if you're listening to this, I will assume you're at least interested in money, understanding the economy and finances as well. And some of us now want to get the next generation interested as well.
So check out Million Bazillion, Marketplace's award-winning kids podcast that breaks down money to help dollars make more sense. Tune into Million Bazillion wherever you find your favorite podcasts. A whole new season is out now. Million Bazillion is presented in partnership with Greenlight, the debit card and money app for kids and teens. Greenlight helps kids and teens learn to earn, save, spend wisely, and invest. When you sign up for a Greenlight account at greenlight.com slash million.
We're watching money shifting in financial markets following Israel's attack on Iran's nuclear operations.
I'm David Brancaccio in Los Angeles with Israeli raids on Iranian military and nuclear research targets and Iran's attempts at retaliation. Money is flowing out of stocks. In early trading, the Dow is down 577 points, 1.4%. The S&P is down 0.8%. The Nasdaq is down 0.9%. Iran is the seventh largest oil producer in the world and crude is up 7.5% to $73 a barrel, the highest since January.
Normally during open hostilities, U.S. government bonds are seen as a safe haven and rise, but not this morning. Bonds are down, pushing, for instance, the 10-year interest rate higher to 4.39 percent for a number of reasons. Christopher Lowe is chief economist at FHN Financial in New York.
The first and most important is the budget. And obviously, there's a lot of sentiment in the bond market that the deficit and funding needs are already too big. Second thing is the fact that, you know, the U.S. is
a staunch ally of Israel. And so there might be worry about blowback risk. And then the third is the inflationary implications of one of the biggest oil producers in the world being involved in a military conflict.
One other thing is if you're trying to do the math on whether the U.S. government will have to borrow more or less next year, you have to factor in the revenue that comes in from tariffs. But tariff policy, shall we say, is up in the air. Yeah, that's right. It puts calculating the budget on hold. It puts Fed policy. There's a meeting next week on hold. It also makes the budget process more difficult because lawmakers don't know if that revenue will be there.
Christopher Lowe, Chief Economist, FHN Financial.
LGBTQ pride parades and festivals are set for this weekend in spots across the U.S., including Dallas, Boston, Indianapolis, and Sacramento. These could look a bit different this year after a broad pullback in corporate sponsorship as companies impose smaller diversity, equity, and inclusion budgets and react to political pressure from Republicans. Marketplace's Savannah Peters has more. This year, longtime corporate sponsors of Pride St. Louis committed historically low dollar amounts.
Or, in the case of beer company Anheuser-Busch, stepped away altogether. It simply was they didn't see value in the relationship anymore, and that's a quote. That's Pride St. Louis president Marty Zuniga. Anheuser-Busch didn't respond to a request for comment. Zuniga says Pride St. Louis is accounting for a $150,000 shortfall. We've been a free event for 45 years, and we are now charging $10 a ticket.
As corporate sponsors retreat, LGBTQ marketing expert Joanna Schwartz says pride organizers are leaning on their communities. Prides are becoming a little more homegrown. She says local fundraising can narrow but not close the corporate gap.
That's true for Seattle Pride. It shaved a $350,000 shortfall down to $120,000 with a grassroots campaign. President Ramon Myers says the community wanted stronger vetting of sponsors anyway. They wanted to make sure that the corporations that are partnering with us really do care about us as human beings.
Myers says this year's event will be short a few bells and whistles, but in this anti-LGBTQ political environment, one line item organizers won't touch is security. I'm Savannah Peters for Marketplace.
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Find out more at investpr.org slash podcast. This Marketplace podcast is supported by Greenlight. As a listener of Marketplace, you're likely already building smart money habits for you and your family, trying to instill important lessons on saving and spending and the economy overall and the younger folks in your life. But what about the older generation? Your parents, grandparents, aunts and uncles? As they age, they may need more support in managing their finances too.
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There's been a rise in drug overdoses among people who didn't think they were using opioids. Experts say this is in part because makers of street drugs sometimes add the opioid fentanyl into other drugs, like narcotic cocaine.
a blending typically not disclosed to users. In Nashville, when overdoses rose among tourists who came to party, the city worked to get antidote drugs into downtown bars and music venues there, but some businesses were slow to participate. WLRN's Catherine Sweeney reports. Acme Feed and Seed is a hotspot for both locals and tourists within the entertainment district in Nashville.
Named for the old farm supply store that used to occupy the space, the venue fills up for country music performances, like this one. Lauren Morales is a co-owner. My parents started it in 1986 here in Nashville. I started as a
pouring teas and lemonades, and now I'm running the company. Morales has seen Nashville change from a small town for aspiring musicians to a destination for bachelorette parties and boys' weekends.
And now it's a hotspot for opioid overdoses. Obviously, there is a link between partying and having fun and the potential for a mistake. She'd heard of a citywide initiative to provide Narcan and overdose response training for entertainment venues.
When we saw there was a way that we could safely participate in the solution, I mean, immediately we wanted to. Sergeant Mike Hotz oversees the police department's opioid unit, and he says the people overdosing in the district typically aren't addicted to opioids.
They think they're buying cocaine or other stimulants, but it's fentanyl, or laced with fentanyl. There are unscrupulous drug dealers selling powdered substances on the street. The city got a million-dollar donation of overdose kits from the charity arm of Gibson Guitars, but...
It was a slow start, Haught says. I'm not joking when I say this. I had 0% success. Business owners said they were afraid of getting sued for giving patrons a medication if something went wrong. The city's nightlife office helped convince businesses that having Narcan on site is the right move.
The city's nightlife director, yes, that's an actual job, says Nashville's reputation as a safe destination is important. Here's Benton McDonough. A lot of our revenue comes in from visitors and allows us to provide a lot of services that otherwise we would not be able to provide. Now, he says, there are nearly 100 overdose kits available in the entertainment district.
And about a dozen have been deployed to help save lives. In Nashville, I'm Katherine Sweeney for Marketplace. And in Los Angeles, I'm David Brancaccio. You're listening to the Marketplace Morning Report from APM American Public Media. Hey there, it's Bridget, co-host of Million Resilient, a podcast that answers your kids' big questions about money. There's a lot of talk about tariffs lately. So how do you explain such a complex topic to kids?
Of course. A tariff is an extra charge or tax that countries put on goods that are made somewhere else, like in another country. It also goes by the name of duty. Duty. Join us as we break down that extra tax governments add on stuff that comes from other countries. Listen to Million Bazillion wherever you get your podcasts.