In October, wholesale prices experienced their most significant drop in 3½ years, signaling a potential easing of the recent inflation surge. The Producer Price Index (PPI), measuring final-demand costs for businesses, reported a 0.5% decline for the month, contrary to expectations for a 0.1% increase. This marked the most substantial monthly decline since April 2020.… Continue reading Wholesale prices fell 0.5% in October for biggest monthly drop since April 2020

Samuel Miele, a former campaign fundraiser for Rep. George Santos of New York, has pleaded guilty in a federal criminal case related to charges of impersonating a top aide to ex-House Speaker Kevin McCarthy while seeking donations for Santos. This guilty plea follows the indictment of Miele three months ago in Long Island federal court.… Continue reading Rep. George Santos former campaign fundraiser Samuel Miele pleads guilty

U.S. Treasury yields experienced a notable decline on Tuesday following the release of key inflation figures, indicating a surprising softness in price changes for the previous month. The 10-year Treasury yield dropped by almost 18 basis points to approximately 4.45%, while the 2-year Treasury yield fell over 19 basis points to under 4.9%. This inverse… Continue reading 10-year Treasury yield tumbles below 4.5% on cool October inflation report

In October, the United States experienced no change in inflation compared to the previous month, offering a glimmer of hope that the persistent surge in prices might be loosening its grip on the economy. The consumer price index (CPI), which measures a diverse array of commonly used goods and services, exhibited a 3.2% increase from… Continue reading Inflation was flat in October from the prior month, core CPI hits two-year low

The House of Representatives faces a crucial vote on a Republican-backed motion to impeach Homeland Security Secretary Alejandro Mayorkas, scheduled for Monday. This vote occurs amidst negotiations for a new budget resolution to avert a government shutdown, with only four days left until the temporary spending bill adopted in September expires. House lawmakers are set… Continue reading House to vote on whether to impeach Homeland Security Secretary Alejandro Mayorkas

The latest CNBC/NRF Retail Monitor, a collaborative effort between CNBC and the National Retail Federation (NRF), provides a fresh perspective on consumer spending ahead of the holiday season. Utilizing data from Affinity Solutions, a prominent consumer purchase insights company, the Retail Monitor is distinct from the Census Bureau’s retail sales report, relying on actual credit… Continue reading Consumer spending fell in October, according to new CNBC/NRF Retail Monitor tracking card transactions

The article reports that Vince McMahon, the chairman of TKO, the parent company of WWE, plans to sell a significant portion of his stake in the company. McMahon intends to sell 8.4 million shares, valued at about $700 million. The stock of TKO fell by 7% following this announcement, reaching approximately $78. The move has… Continue reading TKO stock falls as Vince McMahon plans to sell big chunk of his stake in WWE parent

The article reports on stock market movements, noting a rise in stocks on Friday after the S&P 500 broke an eight-day winning streak. The S&P 500 increased by 0.8%, the Nasdaq Composite rose by 1.2%, and the Dow Jones Industrial Average advanced by 0.5%. Treasury yields, which had increased the previous day after comments from… Continue reading Stocks rise Friday as yields fall, S&P 500 tries to recover from first loss in 9 days

Krispy Kreme is in discussions to expand its partnership with McDonald’s. The collaboration began more than a year ago, testing the appetite for doughnuts among Big Mac eaters in a few McDonald’s locations in Kentucky. By March, the pilot program had expanded to around 160 restaurants in Kentucky, serving as a test to gauge customer… Continue reading McDonald’s and Krispy Kreme are in talks to expand partnership

BlackRock, a major asset management firm, has taken initial steps toward the creation of an Ethereum ETF (exchange-traded fund). The registration of an iShares Ethereum Trust with Delaware’s Division of Corporations on Thursday has fueled a surge in the price of ether, which increased by 7% and surpassed $2,000 for the first time since April.… Continue reading BlackRock appears to take first steps toward an ether ETF

Nelson Peltz, an activist investor with significant control over Disney shares through Trian Fund Management, is closely monitoring Disney’s fiscal fourth-quarter earnings report. The majority of the shares under Trian’s influence belong to Ike Perlmutter, an ally of Peltz and former Marvel Entertainment boss, who has had previous clashes with Disney’s CEO Bob Iger. Trian… Continue reading Disney’s board is in focus as activist investor Nelson Peltz considers his next move

Mortgage rates experienced the most significant one-week drop in over a year, leading to a surge in mortgage demand after a month of decline. According to the Mortgage Bankers Association’s seasonally adjusted index, total mortgage application volume increased by 2.5% compared to the previous week. The average contract interest rate for 30-year fixed-rate mortgages with… Continue reading Mortgage rates plunge and demand finally inches back