Walmart said Wednesday that it will open five automated distribution centers for fresh food across the country, as the retailer chases efficiency and its online grocery business grows. The discounter’s new facilities are roughly 700,000 square feet on average. Chilled and frozen areas have automation that stores and retrieves perishable items, such as strawberries and frozen […]Read More
Longtime investor Bill Gross believes Elon Musk’s Tesla is behaving like a speculative play among retail investors. “Tesla acting like a meme stock — sagging fundamentals, straight up price action,” the former chief investment officer and co-founder of Pimco said in a post Tuesday afternoon on X. “But then there seems to be a new meme stock every other […]Read More
The S&P 500 climbed Wednesday to a fresh record, breaking above 5,600 for the first time, as a sharp rise in semiconductor stocks led the market higher. The broad market index jumped 1.02%, closing at 5,633.91, and notching a seventh straight day of gains. The Nasdaq Composite advanced 1.18%, also hitting an all-time high and ending at 18,647.45. It […]Read More
The U.S. Federal Reserve may start cutting interest rates before year’s end. That could make future trips abroad more expensive for the nation’s travelers. That’s due to how interest-rate policy affects the strength of the U.S. dollar. Here’s the basic idea: An environment of rising U.S. interest rates relative to those in other nations is generally “dollar positive,” said […]Read More
You’ll soon have to pay more if you want to shop at Costco. The membership-based warehouse club said Wednesday that it will increase its membership fee by $5 in the U.S. and Canada as of Sept. 1. That’s an increase to $65 from $60 for annual memberships. Its higher-tier plan, called “Executive Membership,” will increase to […]Read More
The U.S. Federal Reserve may start cutting interest rates before year’s end. That could make future trips abroad more expensive for the nation’s travelers. That’s due to how interest-rate policy affects the strength of the U.S. dollar. Here’s the basic idea: An environment of rising U.S. interest rates relative to those in other nations is generally “dollar positive,” said […]Read More
Two Democratic U.S. senatorsannounced Tuesday that they are seeking a criminal investigation of Supreme Court Justice Clarence Thomas over gifts of travel, a loan for a recreational vehicle and other benefits he received from wealthy benefactors. Sens. Sheldon Whitehouse (D-R.I.) and Ron Wyden (D.-Ore.) said they sent a letter to Attorney General Merrick Garland last […]Read More
There are surely good reasons for President Biden to resist pressure to drop out of his 2024 reelection race. They’re just not always the ones he and his team put forward. In recent days, Biden and his campaign have offered a number of justifications for why he shouldn’t cave to that pressure and pass the […]Read More
Not a worthy business partner. “Unfit” for the White House. “Con artist.” These are not the words of Democrats attacking Donald Trump, but comments from three Republicans Trump has considered to be his running mate. Sens. J.D. Vance (R-Ohio) and Marco Rubio (R-Fla.), who have been at the center of discussions inside the Trump campaign, […]Read More
The S&P 500 and Nasdaq closed at record highs on Monday as investors await key inflation data to provide further clues about whether this year’s market rally is sustainable. Earnings from some major financial giants and consumer companies are also on the docket. The broad market index ended the day up 0.1% at 5,572.85, while the Nasdaq Composite advanced […]Read More
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