Economy
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Lutnick defends 10% baseline tariffs, say they aren't increasing prices
Inflation reached an annualized rate of 2.3% in April, below analyst expectations.
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Gas prices for Memorial Day weekend predicted to be cheapest in years
Technology company GasBuddy put out an analysis earlier this week that stated the national average price of gas will be $3.08 per gallon on May 26.
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Target reports drop in 1st quarter sales, attributes to tariffs, economy, backlash to DEI policies
Target's shares fell 3% before the opening bell Wednesday.
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Walmart vows to keep prices low as possible, as long as possible, amid tariffs, Trump's 'eat' barb
“We have always worked to keep our prices as low as possible and we won’t stop,” Walmart said.
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S&P economists say 90-day trade pact with China brings limited relief
S&P said the de-escalation "brings only temporary relief." It noted that if the world's two largest economies can't reach a broader, more permanent trade deal in the next three months, tariffs are likely to increase again, perhaps sharply.
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Walmart likely to increase prices over tariffs in coming weeks: CFO
Price increases will likely begin “towards the tail end of this month, and I certainly expect more in June,” Walmart Chief Financial Officer John David Rainey said.
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Microsoft lays off 6,000 employees
The tech company has 228,000 workers globally, about 126,000 of which are in the U.S.
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Annual inflation rate was 2.3 percent in April, federal government
The annualized and month-to-month increases were in line with analysts' forecasts, according to CNBC.
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New car prices higher in April following tariffs
The average price consumers paid for new cars rose 2.5% from March to April, which is more than double the typical 1.1% increase over those two months in recent years.
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U.S., China drop high tariffs, agree to 90-day pause
The U.S. agreed to drop its 145% tariff rate on Chinese goods down to 30%, while China agreed to lower its tariff rate on U.S. goods from 125% to 10%.
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Federal Reserve holds interest rates steady
The decision was made despite President Trump's call for lower interest rates amid tariff wars with other countries.
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S&P 500 hits longest winning streak in 20 years
The last time the S&P 500 posted nine consecutive days of gains was November of 2004.
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Kohl's CEO fired for alleged business deal with romantic partner
Ashley Buchanan was fired as Kohl's CEO after the company learned that he allegedly told the retailer to engage in a “highly unusual” business deal with his romantic partner.