Americans are still spending, but they're spending smart
CNN
In this Jekyll and Hyde economy, Dr. Jekyll is winning this week. (Hint. He's the good guy.)
July's retail sales data from the Census Bureau added to a picture emerging of an American consumer still spending even amid biting inflation and lousy sentiment. July retail sales were unchanged from June, but retail sales excluding autos and gasoline rose a healthy 0.7%.
"In one line: If you're looking for recession, you won't find it here," wrote Ian Shepherdson of Pantheon Macroeconomics in a note to clients. "The July retail sales report made it clear that the U.S. consumer is rather more willing to spend than you might expect if you spend much time wallowing in the misery of the recession-obsessed media," he said.
Thanksgiving dinner will cost less this year than last but will still be 19% higher than before the pandemic, according to the American Farm Bureau Federation’s annual Thanksgiving survey out Wednesday.
Comcast is planning to spin off most of its cable television networks, including MSNBC and CNBC, into a separate publicly traded company, according to executives with knowledge of the plan.
Conspiracy theorist Alex Jones has sued a court-appointed bankruptcy trustee and the families of some of the Sandy Hook victims in an attempt to stop the sale of his media empire Infowars to the satirical news outlet The Onion.
The cat’s out of the bag: Jaguar has unveiled a new logo that emphasizes its posh pronunciation as it transitions into a “new era” that emphasizes its all-electric vehicle lineup.
Markets sold off Tuesday as geopolitical tensions escalated between Ukraine and Russia.
Protesters opposed to Tesla’s expansion of its plant near Berlin were holding out in trees Tuesday as German police sought to clear their forested camp.
Jersey Mike’s Subs is selling a significant stake to private equity giant Blackstone, ending its nearly seven-decade run as an independently owned business that transformed into a major competitor against well-entrenched competitors like Subway.
Walmart’s business is surging. Customers making more than $100,000 a year are fueling the growth.
The president-elect’s plan to deport millions of undocumented immigrations may backfire, driving up the cost of homebuying even further.
In the first quarter of this year, the price of bitcoin broke records in the wake of approval by the Securities and Exchange Commission for the first exchange-traded spot bitcoin funds. The cryptocurrency topped $70,000 in March, according to coinmarketcap.com.
Donald Trump is returning to the White House without many of the guardrails of his first term.