Dow Set to Stabilize After Dropping Over 500 Points
Your Cheddar hosts Kristen Scholer and Tim Stenovec bring you today's top financial news headlines. From a market sell-off to consumer spending, we have you covered!
Global stocks mostly steadied on Wednesday in pre-market trading, keeping major equity benchmarks on pace for monthly gains. Futures point to a higher open for the Dow after rising bond yields and pressure on the healthcare sector sent it to its biggest daily drop since May on Tuesday.
Plus, strong job prospects and a general upswing in the market in recent months have triggered a decrease in saving for many Americans. According to the Commerce Department, an increase in consumer spending in December led to a 12 year low in the U.S. household saving rate. This was the lowest saving rate since the height of the housing boom in the early 2000s.
The U.S. economy added 272,000 jobs in May, far more than expected. But that number doesn't tell the whole story. Interest rate cuts could still be on the way.
The AI boom is heating up worldwide competition, the NBA is cashing in, and short-selling is (surprise!) risky. Plus, who are this week's Usual Suspects?
A.I. Reporter at The Verge, Kylie Robison, joins Cheddar to discuss everything you need to know about artificial intelligence, from Nvidia to Musk and OpenAI.
