Agriculture Secretary Brooke Rollins says Americans should see further relief in grocery prices as egg prices fall, beef costs decline and the Trump administration pushes to lower food prices. Whole Foods announced Wednesday that it is recalling certain products and prepared foods containing fresh jalapeno peppers supplied by Coast Citrus Distributors due to possible salmonella … Read more
Pakistan’s foreign minister has said three of its citizens were killed and one more wounded in a Houthi militia attack on a commercial ship in the Red Sea. The deaths would mark the first fatalities in the Red Sea since the Yemen-based and Iran-backed Houthis declared a blockade of the Bab al-Mandeb Strait on July … Read more
Cheryl Casone discusses the July CPI inflation report, which was in line with expectations. It highlighted a drop in energy and gasoline prices as stock futures rise and the Labor Department releases new economic data. Social Security beneficiaries are still expected to see a larger cost-of-living adjustment (COLA) in 2027 than this year, although it … Read more
A quick trip to your local supermarket may be about to end. Supermarkets, both small and large, are closing across the country as chains eliminate underperforming stores. In an earnings call last year, grocery giant Kroger said it would reduce its store count by 60 locations over the next 18 months, citing slow sales. The … Read more
What Happened: AI infrastructure stocks rose Wednesday after spectacular results from AI server hardware maker Supermicro (SMCI) and neocloud providers CoreWeave (CRWV) and Nebius Group (NBIS). IA hosting pairs Applied Digital (APLD) and IREN (IREN) rose. Other areas of the AI infrastructure trade also gained, including optical products maker Lumentum (LITE). Complex memory and storage … Read more
AI was supposed to destroy jobs. Where is the slaughter? The Guardian These 10 ‘AI-proof’ jobs require ‘uniquely human’ skills, report says – you need to ‘react in real time’ CNBCAI is making these jobs ‘irreplaceable’ even as hiring rates fall 24% ForbesAI is cutting graduate jobs. These are the skills young people will need … Read more
The International Energy Agency (IEA) on Wednesday slashed its forecast for global oil demand this year, with supplies still limited by the disruption of shipping through the Strait of Hormuz and high prices deterring buyers. Demand is expected to fall by 1.6 million barrels per day, compared with the forecast drop of one million barrels … Read more
Jill Hall, US equity strategist at BofA, explains why the Russell 2000 is the best-performing benchmark. Bank of America (BofA) is launching a $250 billion initiative to finance a broad buildout of American infrastructure, including data centers, semiconductor facilities, power generation and transportation projects. The banking giant announced Wednesday that its Critical Infrastructure Financing Initiative … Read more
By Lucia Mutikani WASHINGTON, Aug 12 (Reuters) – U.S. consumer prices likely rose moderately in July, which could further dampen financial market expectations that the Federal Reserve will raise interest rates this year. Wednesday’s Consumer Price Index report from the Labor Department would come on the heels of last week’s news of surprise job losses … Read more
AI cloud provider CoreWeave (CRWV) reported its second-quarter earnings after the bell on Tuesday, narrowing its losses per share and meeting revenue expectations for the quarter. Shares rose more than 8% following the announcement. “CoreWeave reached a major inflection point this quarter as our scale began to translate into increased operating leverage,” CEO Michael Intrator … Read more