US Politics & Business News
Shares of Micron Technology and Sandisk fell sharply Wednesday as investors rotated out of the broader semiconductor sector amid growing concerns over valuations. Micron dropped 8%, Sandisk slumped 10%, and Western Digital fell 7% as memory stocks pulled back alongside the Nasdaq composite index. The selloff was fueled in part by concerns over additional manufacturing…
The U.S. Department of the Treasury issued a formal announcement on July 1, 2026, outlining the investment lineup for the newly established Trump Accounts. At launch, all contributions to Trump Accounts will be automatically invested in the State Street SPDR Portfolio S&P 500 ETF, ticker SPYM, a low-cost exchange-traded fund. The SPYM fund tracks the…
Europe is pushing to narrow its record trade deficit with China by October, but a historic heat wave is driving unprecedented demand for Chinese-made air conditioners. The European Union and China released a rare joint statement on Monday, aimed at rebalancing trade between the two economies and improving market access for both sides. European trade…
Meta Platforms is reportedly developing a cloud infrastructure business to sell AI computing power, sending rival neocloud stocks sharply lower on Wednesday. CoreWeave (CRWV) shares plunged nearly 14%, closing at $85.69, after Bloomberg reported Meta is building a business to sell excess AI computing capacity to outside customers. Trading volume in CoreWeave surged to roughly…
General Mills (GIS) is pushing aggressively into high-protein foods and premium pet products as it faces one of the toughest consumer spending environments in recent memory. The company has described the current backdrop as “characterized by historically low consumer sentiment, heightened uncertainty and significant volatility,” driven by cumulative inflation and reduced government food assistance. Middle-…
The June nonfarm payrolls report, due Thursday, may come in stronger than Wall Street expects, with the FIFA World Cup providing a significant lift to hiring numbers. Goldman Sachs economists say private data from Homebase, a small business payroll firm, points to a World Cup-related boost of roughly 40,000 jobs last month. The Dow Jones…
Business founders aged 50 and above are nearly twice as likely to succeed as those who launch companies in their 30s, challenging long-held assumptions about entrepreneurship. More older workers are turning to self-employment as a direct response to age discrimination, using decades of experience and industry knowledge to build competitive businesses. The trend has been…
Wall Street is watching Federal Reserve Chair Kevin Warsh closely, as his policy decisions increasingly shape the outlook for equity markets heading deeper into 2026. Warsh’s first post-meeting press conference rattled risk assets, sending a clear signal that his tenure at the Fed will not be a quiet one for investors. Strategist Warren Pies captured…
Private sector hiring came in below forecasts last month, with companies adding just 98,000 jobs in June, according to ADP’s latest payrolls report. The figure represents a decline from the 122,000 jobs added in May and fell short of the Dow Jones consensus estimate of 110,000 positions for the month. Nearly half of all new…
LeBron James has told the Los Angeles Lakers the franchise can move on without him, as he intends to play elsewhere for the 2026-27 NBA season. The bombshell news came via Klutch Sports CEO Rich Paul, who informed ESPN’s Shams Charania of James’s decision to leave Los Angeles. The Golden State Warriors have emerged as…