Marty Cantor, CPA and economic development consultant, joined Cheddar News to discuss the landscape of the retail industry. With cornerstone department stores like Bed, Bath and Beyond and Party City filing for bankruptcy, Cantor said "people are just running out of money." He said discretionary spending is halting as the cost of other goods and services increases, ultimately impacting the bottom line of major retail giants.
Elon Musk announced two new subscription tiers for people who want the premium experience. This, as some users in some countries may have to pay a very small fee to access the platform for more. Cheddar News' senior reporter Michelle Castillo explains.
Stocks dipped Friday morning after the yield on the benchmark 10-year Treasury crossed 5% for the first time in 16 years and also following Fed Chair Jerome Powell's remarks on Thursday.
