Marketplace All-in-One

California voters will decide this November whether to impose a one-time wealth tax on the state's richest residents, setting up what could become one of the most expensive ballot measure fights in state history. Proposition 40 would levy a one-time 5% tax on the total wealth — not just income, but stock holdings, real estate, yachts, and other assets — of roughly 200 of California's richest residents. We’ll dig in. Also: a stopgap funding bill and Treasury term premiums.

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Marketplace Morning Report is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

Stories covered in this episode:

Why term premiums on U.S. Treasurys have been rising
California voters weigh $100 billion wealth tax to offset Medicaid cuts

Seven states are set to hold primary elections this week. Polls open today in Washington, Kansas, Virginia, Missouri, and Michigan. This morning, we'll dig into where exactly dollars are flowing, as well as their sources. Then, Maryland was hit hard by the Trump administration's DOGE cuts. It lost close to 25,000 federal jobs last year. So, to help out their neighbors, some Marylanders have formed a kind of club whose goal is to redistribute money.

Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter.

Marketplace Morning Report is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

Stories featured in this episode:

Would you join a club where the goal is to redistribute money?

Last month, President Xi Jinping spoke at an AI conference in Shanghai, China. There he promoted AI accessibility for the world, touting China’s adoption of open-weighted models.

After OpenAI’s rogue model incident in which a training model hacked into the company HuggingFace and stole confidential information, the discussion over whether models should be open or closed has intensified.

“Marketplace Tech” host Meghan McCarty Carion spoke with Adam Segal at the Council of Foreign Relations about China’s soft power play in the global AI arms race.

Permian Basin oil companies are reporting strong quarterly earnings, as the Iran war keeps prices up and supply restricted. West Texas, formerly in a slump, has seen an uptick in hiring and new rigs. But oil companies are moving cautiously — they want to avoid a bust after the boom. Also in this episode, more caution: Small businesses carefully weigh workforce expansion, the U.S. invests billions to prop up the Japanese yen, and a Colorado peach farmer preps for a water shortage.

Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter.

Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

Read the stories in today’s episode:

Why did the U.S. just spend billions to prop up the Japanese yen?
What the bond market is trying to tell us
How small- and medium-sized firms are navigating this labor market moment
Becoming a freelance court reporter helped this mom find herself
High oil prices lift all boats in the Permian Basin, but companies remain cautious
Peaches pay the bills for Western Colorado farmers, but drought makes their future uncertain

Japan's yen is up against the dollar this morning. Over the weekend, President Donald Trump confirmed that the U.S. Treasury Department bought up yen, boosting its value. Japan has been struggling with the low value of its currency. The purchase could help the U.S. though, too. We'll explain. Then, Trump also said over the weekend that the U.S. would back down from fresh attacks on Iran. What's that mean for oil prices?

Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter.

Marketplace Morning Report is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.