McDonald’s global sales fell for the first time in nearly four years as inflation-weary customers looked for cheaper options. The amount of food and drink sold at restaurants open for at least a year fell 1% compared with Q2 last year though the company’s stock rose nearly 4% because the “results were better than feared,” one analyst told Bloomberg.

McDonald’s quarterly sales decline

NBC News

McDonald's $5 "Meal Deal" appears to be bringing back bargain-hungry customers amid broadly higher post-pandemic food prices. The fast-food giant reported profit and sales Monday that missed analysts' expectations. acknowledging an industry-wide slowdown as consumers eat at home more often and trade down to cheaper items. And while McDonald's reputation...

McDonald's says $5 value meal sales are hot as consumers feel 'pinch' of inflation

McDonald’s Boost Consumer ETFs, Healthcare Funds Rise. The Consumer Discretionary Select Sector SPDR Fund (XLY) rose 1.8%, benefiting from its 4.4% holding in McDonald’s shares, as well as its 17% allocation to Tesla stock, which jumped more than 5% on a bullish analyst call. The Global X Dow 30 Covered Call ETF (DJIA), with a 4.1% McDonald’s holding, increased 0.2%.

XLY Rises on Tesla, McDonalds

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NewsByJoshua

Here’s a story that’s making waves in the retail world: Conn's HomePlus, a well-known discount furniture chain, has just filed for Chapter 11 bankruptcy. And the news isn’t just about numbers—it’s about real people and places, so let’s dive into what’s happening.

Another retail giant has just filed for Chapter 11 bankruptcy and is shutting down several stores.

NewsNinja

For more than 160 years, Macy's has been much more than a department store. It's a cornerstone of American shopping, with generations eager to buy everything from back-to-school clothes to holiday gifts. But now it is a surprise that the store has been forced to close, leaving millions to wonder how such a powerful and fast-moving brand could be defeated. Macy's, the US retail giant, now faces a difficult future. Signs of trouble have been showing for several years, including declining traffic, aging stores, and an inability to keep up with a fast-paced retail environment. However, experts say the real story is corporate mismanagement, intense competition, and a lack of innovation.

The Fall of Macy's: Inside the Collapse of America's Largest Merchant

Wisconsin State

Fond Du Lac, WI

Mercury Marine is laying off around 1,700 hourly employees in Fond du Lac, according to a spokesperson. The company is hitting the brakes with “short-term layoffs,” which will see workers lose eight weeks of work, split into two-week chunks. This move has certainly caught many by surprise.

A Wisconsin company is laying off thousands of workers

Camden, NJ

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Cornelius, NC

Morristown Minute

CAMDEN, N.J. – Lisa Smith, 61, of Cornelius, North Carolina, has admitted to her role in a fraudulent scheme involving over $3.5 million in Paycheck Protection Program (PPP) loans. U.S. Attorney Philip R. Sellinger announced today that Smith pleaded guilty before U.S. District Judge Karen M. Williams in Camden federal court on July 17, 2024, to a charge of bank fraud conspiracy.

Woman Pleads Guilty to $3.5M COVID Relief Scam

Aurora, CO

David Heitz

Aurora’s pallet shelters for people experiencing homelessness, which only allow a maximum 30-day stay, have been cycling the same individuals in and out, city staff told council members Thursday. Many return to street encampments when their time in the pallet shelter runs out, Jessica Prosser, homeless services director for the city, said. Then, the city sweeps the encampment again, and they get to come back to the shelter for another 30 days, Prosser explained. This process can repeat multiple times.

Aurora pallet shelters a revolving door for homeless

Illinois State

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Chicago, IL

Foodie in Chicago

Every year, new laws that were passed the prior year go into effect on July 1. In 2024, a number of new laws will begin this Monday. Among them include higher wages for tipped employees, a gas tax increase, and driver's licenses for undocumented immigrants.

New Laws July 1: Driver's Licenses for Undocumented Migrants, Raises for Tipped Workers, and More

Fortune

Warren Rotax, 67, stacks a freshly milled board of tongue and groove pine June 19, 2024 at Clifford Lumber in Hinesburg, Vermont. Clifford Lumber was established in 1929 by Harold Clifford and is now run by his grandson, Lynn Gardner, and his son, Peter Gardner. (Photo by Robert Nickelsberg/Getty Images)

Lumber prices are plunging. Blame the record drop in U.S. housing affordability and a post-pandemic double bubble ‘hangover’

New York Post

There may be trouble looming on the horizon for the U.S. stock market, according to BCA Research.

In a note to clients last week, BCA Research chief global strategist Peter Berezin warned that, contrary to popular belief, the economy will fall into a recession either this year or in early 2025. 

Should that happen, the S&P 500 could tumble to 3,750, which marks a 30% drop from current levels.

Stock market could drop 5% or more before end of 2024: Wall Street analyst warns

Berezin’s prediction hinges on the belief that the labor market will slow notably in coming months, which will weigh heavily on consumer spending...

US headed for a deep recession in near future as stocks could fall 30%, analyst warns

Denver, CO

A dangerous drug that is being mixed into fentanyl is causing those who inject it to develop a rash of sores that resembles a case of flesh-eating bacteria. People experiencing homelessness around Denver can sometimes be seen with these bloody, weeping wounds. I recently mentioned this phenomenon to a fentanyl user who told me about the xylazine connection.

Denver homeless people suffer sores as xylazine enters fentanyl supply

Consumer sentiment moved lower again in July, despite improving expectations on inflation. Survey data showed lower-income earners are starting to feel worse about economic conditions, while sentiment remains elevated for higher earners. However, consumer sentiment stands to improve for everyone if gas prices stay low and the Federal Reserve follows...

US Consumer Sentiment Declines As Low Earners Become More Concerned

Tupelo, MS

Mississippi News Group

Traci D. Franklin, a 52-year-old resident of Tupelo, was arrested by the Tupelo Police Department on June 28, 2024, following the issuance of a Lee County Circuit Court Capias Warrant.

Tupelo police make arrest on woman for not returning rental property to Best Way

Virginia State

Cheryl E Preston

Virginia fans of The Bold and the Beautiful, if you were watching earlier this week when Tom Star (Clint Howard died), you know that Li Finnegan (Naomi Matsuda) did not honor her Hippocratic Oath as a physician to "do no harm".

The Bold and the Beautiful shocker: Dr. Li Finnegan broke her Hippocratic Oath by watching Tom die

Spoilers from Soaps.com reveal that during the week of July 29 to August 8, on The Bold and the Beautiful, Luna Nozawa (Lisa Yamada) will lash out at Katie Logan Spencer for making accusations against her mom Poppy Nozawa ( Romy Park).

The Bold and the Beautiful Spoilers: Luna finds something shocking in Poppy's old apartment

Neil Rozenbaum has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Chipotle Mexican Grill. The Motley Fool has a disclosure policy. Neil is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.

Is Chipotle Stock a Buy After the Post-Stock-Split Drop?

Washington State

The news this week that Jeff Bezos plans to sell more Amazon stock is another reminder of the tech mogul’s move away from Washington state — and the debate over its capital gains tax. A new regulatory filing shows that the Amazon founder plans to sell 25 million...

Jeff Bezos keeps selling Amazon stock after announcing his move out of Washington state

California State

The HD Post

CALIFORNIA – Plaintiffs, in a case against Wells Fargo alleging that the bank knowingly took part in a marketing scam, asked the court, July 8, not to grant a motion for summary judgment.

Class action lawsuit says Wells Fargo customers lost over $160 Million

Shortly before 3 AM, people in the Chicago area may have felt their houses shake as a 3.4-magnitude earthquake occurred about 60 miles west of the city. (CHICAGO) The United States Geological Survey (USGS) reported a 3.4-magnitude earthquake around Somonauk, IL. Somonauk is in DeKalb and LaSalle Counties, 64 miles west of Chicago.

Did You Feel the Earthquake?

NewsBreak

McDonald’s sales slipped. That may mean lower-income consumers feel pinched.

This is a busy week for corporate quarterly reports. We’ll be hearing from Microsoft, Procter & Gamble, Meta, Exxon Mobil and a bunch of other big...

McDonald’s sales slipped. That may mean lower-income consumers feel pinched.

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