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U.S. stock indexes surged about 3 percent Monday after fears eased of a trade war with China. The two major trading partners reportedly are negotiating to improve U.S. access to Chinese markets.

Tim Padgett is the Americas editor for Miami NPR affiliate WLRN, covering Latin America, the Caribbean and their key relationship with South Florida.

Ben Swasey is a senior editor on NPR's Washington Desk.

But U.S. shoppers spent more prudently in August and retail sales grew a tepid 0.6% from July, after extra federal jobless benefits expired and families faced a confusing back-to-school season.

More than 1 in 4 U.S. workers have lost their jobs since coronavirus shutdowns began. Last week, an additional 2.1 million people filed for unemployment benefits.

As of Wednesday, the average cost of a gallon of regular fuel is now $4.305, according to AAA. Both ride-share companies say they're adding surcharges to deal with the spike in gas prices in the U.S.

Astronomical summer officially arrives in the Northern Hemisphere — amidst a heat wave — at 4:51 p.m. ET. It's the earliest start to the season since 1796, thanks to quirks in the calendar.

Annual inflation hit 3.5% in June, down from May's more than three-year high — but the resumption of the conflict with Iran threaten to push up inflation as energy costs once again spike.

Carrie Kahn is NPR's International Correspondent based in Mexico City, Mexico.

After the Dow shed 4.6 percent on Monday, Japan's Nikkei and Hong Kong's Hang Seng both dipped by about 5 percent. European shares were also down sharply in early trading.