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The Dow Jones Industrial Average closed above 40,000 for the first time on Friday. As we say regularly on this show, the stock market is not the economy. But it can still be a good indicator of how some folks are feeling about the state of the economy. Also in this episode: Competition for small-business spending heats up, EV sales take a dip, and purchasing power for all income levels rises.

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Staying ahead is tough if you run a business — especially in this odd economic moment, where even affluent shoppers are picking low-cost alternatives. Whether you’re selling furniture, home goods or sheep’s wool, sometimes you have to adapt by targeting new markets. In this episode, three businesses doing just that. Plus, what a dip in weekly jobless claims might signal, why currency carry trades are risky, and how the bees made a comeback.

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Looking at fresh economic data, retail sales were flat and some categories of food dropped in price from March to April. That indicates both falling inflation and a consumer spending pullback — good things if you’re the Federal Reserve. We’ll dig into the consumer price index and hear from Chicago Fed President Austan Goolsbee about the stickiest part of inflation right now. Plus, more women are employed than ever. Could that change as pandemic support programs expire?

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President Joe Biden announced a slate of new tariffs on $18 billion worth of Chinese goods today, including electric vehicles, semiconductors, steel and aluminum. We’ll look at how the tariffs compare to those implemented under the Donald Trump administration and what they mean to business owners. Plus, the latest on salvage efforts in the Port of Baltimore, and a new federal rule encourages more long-distance power lines.

The next $50,000 in donations to Marketplace will be matched, thanks to a generous gift from Dr. Joe Rush of Florida. Give now and double your impact.

Americans are feeling worse about the economy. And that’s partly to do with fears about lasting inflation. According to the latest data, consumers expect inflation to rise three-tenths of a percentage point a year from now. Also in this episode: Why people are eating less fast food, how employers are helping workers with addiction recovery and what lower demand for second homes means for the general housing market.

The next $50,000 in donations to Marketplace will be matched, thanks to a generous gift from Dr. Joe Rush of Florida. Give now and double your impact.

Commerce Secretary Gina Raimondo wants to position the U.S. to become a leader in semiconductor manufacturing. After all, the U.S. invented the industry not so long ago. The Biden administration has invested $30 billion in new factories, and companies have thrown in 10 times that sum. In this episode, Raimondo tells “Marketplace” host Kai Ryssdal where she hopes U.S. chip production will be by 2030. Plus, her broadband expansion plan and how she views our trade relationship with China.

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