DNOW has agreed to merge with MRC Global in a $1.5 billion deal that was unanimously approved by both companies' boards to create a major distributor of pipe, valves, fittings and industrial supplies. The deal is expected to close in the fourth quarter. The combined entity will have about $5.3 billion in revenue, more than 350 locations worldwide and 5,100 employees. DNOW President and CEO David Cherechinsky will lead the new company, which will remain headquartered in Houston.

Wholesale inventories were estimated at $905.4 billion at the end of May, according to an advance estimate from the Census Bureau. Inventories fell 0.3% from the previous month but increased 1.4% from a year earlier. Retail inventories increased 0.3% to $806.6 billion and were 3.2% higher than in May 2024.

The personal consumption expenditures price index rose 0.1% month over month in May and 2.3% year over year. The core reading, which strips out food and energy and is the Federal Reserve's preferred inflation measure, increased 0.2% from April and 2.7% annually. Consumer spending dropped 0.1% for the month, and personal income fell 0.4%, according to the Commerce Department.

Distributors face significant profitability risks from the new tariff economy, with potential cost increases threatening to reduce peak internal profitability, writes David Bauders, CEO of SPARXiQ. Bauders identifies several pricing pitfalls, including reliance on "last price paid," frequent pricing overrides by sales teams and long-term contracts that don't adjust for inflation. He emphasizes the need for systematic pricing and the adoption of AI tools to combat these issues and maintain profitability.

Fleet operators manage vast amounts of real-time data from vehicles and drivers, which can be overwhelming but is crucial for optimizing routes. Companies like Fleet Advantage and Penske Transportation Solutions highlight the importance of identifying key data points to improve efficiency.

Rei Inamoto, founding partner of I&CO, writes that trust has become the primary currency for brand growth, surpassing traditional marketing and storytelling. Inamoto introduces "Trustnomics," which involves identifying key product moments, treating products as content, building repeatable systems and creating a trust flywheel. Examples from AXA, Penny, OpenAI and Apple illustrate the effectiveness of this approach.

Federal Reserve Governors Michelle Bowman and Christopher Waller have recently expressed openness to a July interest rate cut, diverging from the broader Federal Reserve consensus. If both dissent, it would mark a rare split among Washington-based governors, highlighting growing division over monetary policy ahead of incoming inflation and labor data.

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