Cheddar News checks in to see what's on The Day Ahead, which will include earnings from Lowe's, Dick's Sporting Goods, BJ's and AutoZone along with new home sales data. In addition, Microsoft's Build 2023 Developer Conference is slated to kick off for software engineers and web developers.
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Big Business This Week: Big Blue gets bigger, without the blues
IBM is up 20% this year, thanks to AI consulting. Plus: UnitedHealthCare, Boeing, FedEx, Apple, Nissan, Dick's, Burberry, and HBO (Max). Whew!
Walmart warns “higher prices are inevitable”
Walmart, which became the nation’s largest retailer by making low prices a priority, has found itself in a place it’s rarely been: Warning customers that prices will rise for goods ranging from bananas to car seats.
U.S.–China Trade Truce: What It Means and What Comes Next
Chris Beauchamp, Chief Market Analyst at IG International, joins J.D. Durkin to give analysis on the recent trade truce between the U.S. and China. Watch!
Microsoft lays off about 3% of its staff on ‘day with a lot of tears’
Microsoft began laying off about 6,000 workers Tuesday, nearly 3% of its entire workforce and its largest job cuts in more than two years.
British banking analyst jailed in Saudi Arabia for 10 years over ‘unknown tweet’
A British Bank of America analyst has been jailed for 10 years in Saudi Arabia apparently over a since-deleted social media post.
More than 1,000 Starbucks baristas go on strike to protest new dress code
More than 1,000 Starbucks baristas at 75 U.S. stores have gone on strike since Sunday, protesting the coffee giant’s new dress code.
Go Inside Coinbase's $2.9B Deribit Acquisition: A Strategic Move as It Joins the S&P 500
Shan Aggarwal, VP of Corporate and Business Development at Coinbase, discusses the company's acquisitio of Deribit as it heads into the S&P 500. Watch!
McDonald’s plans to hire 375,000 U.S. workers this summer
McDonald’s says it plans to hire up to 375,000 U.S. restaurant employees this summer as part of its biggest hiring push in years.
US businesses that rely on Chinese imports express relief and anxiety
American businesses that rely on Chinese goods are reacting with muted relief after the U.S. and China agreed to pause their exorbitant tariffs on each other’s products for 90 days. Many companies delayed or canceled orders after President Donald Trump last month put a 145% tariff on items made in China. Importers still face relatively high tariffs, however, as well as uncertainty over what will happen in the coming weeks and months. The temporary truce was announced as retailers and their suppliers are looking to finalize their plans and orders for the holiday shopping season. They’re concerned a mad scramble to get goods onto ships will lead to bottlenecks and increased shipping costs.
