Wealthion Macro Bites 6-5

The May 2026 jobs report released today showed U.S. employers added 172,000 jobs, far exceeding the 85,000 gain projected by economists. The unemployment rate held steady at 4.3% and included upward revisions for previous months—adding 93,000 more jobs to March and April than originally estimated. 

Indonesia announced the full range of products to be covered by its new export regime which centralizes exports of key natural resources through a state-owned channel managed by PT Danantara Sumberdaya Indonesia (DSI). The policy, aimed at curbing under-invoicing and boosting state revenue, will cover Palm Oil (crude palm oil, refined, bleached, and deodorized palm oil, olein and palm oil mill effluents); Coal (anthracite, bituminous coal, agglomerated/non-agglomerated lignite, and peat) and Ferroalloys (ferronickel, ferro-silico-manganese, and products containing more than 2% carbon by weight).

In a transition phase which will run from 6/1 to 12/31, Indonesian exporters can continue shipping as usual but must electronically submit transaction reports to newly established DSI. On 1/1/27, the entire export process will be taken over by DSI, which will handle everything from contracts to shipping and payments.

Chinese battery behemoth Contemporary Amperex Technology forecast energy storage will account for 50% of global sales by 2030 (up from 25% in ’26 and just 2% in ’21). CATL was formed in ’11 to manufacture EV lithium-ion batteries (75% of ’26 sales). Unlike the automobile industry, energy storage has not faced European requirements on local sourcing of components, so CATL already operates manufacturing plants in Germany and Hungary and is building a 3rd plant in Spain. Post-Gulf war price increases for lithium, copper, and aluminum pose challenges to battery manufacturers, but CATL Dir. of Energy Storage Europe Kevin Tang, logically observed, “Once we have more renewable energy, we need more energy storage.”

Mozambique President Daniel Chapo signed a new mining law mandating a minimum (free-carried and non-dilutable) 15% state ownership by the National Mining Company in all mining projects across the value chain and prohibiting export of unprocessed or semi‑processed minerals unless companies receive specific ministerial authorization tied to approved plans for eventual local beneficiation. A June 3 government notice said the law will reinforce Mozambique’s management of its mineral wealth “in defense of the national interest.”

Euro Stoxx 50 +0.25%, S&P futures -0.45% and Nasdaq futures -1.0%. DXY dollar index -0.2%, spot gold little changed and spot silver -1.4%.

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