U.S. industrial production fell sharply in July, the Federal Reserve said Thursday, pointing to a larger-than-expected impact from Hurricane Beryl. The news is likely to add to calls for the Fed to cut its key lending rate from a two-decade high next month as its long-running campaign against inflation continues to percolate through to the broader economy.

US Industrial Production Contracts Sharply in July

The Independent

Global equities markets began the week with a steep plunge, reacting to the possibility of a coming US recession that Goldman Sachs economists pegged at 25 percent.On Monday morning, the Dow Jones Industrial Average fell 945 points, or nearly 2.5 percent, to ​​38,791.28. In simple terms, if on Friday you had $100 in a fund tracking the Dow, you would now have about $97.50. The two other major indexes, the S&P 500 and the Nasdaq Composite, were down mid-morning by roughly 3 percent and 6 percent, respectively. At the end of the session, the Dow was down 2.6 percent, sliding...

Experts are warning of a global recession. Here’s what that actually means

Business Insider

The jobless rate is rising, but that doesn't mean the US is destined for mass unemployment and a recession.

Why you shouldn't worry about the job market and a recession just yet

Reuters

WASHINGTON (Reuters) - Production at U.S. factories fell in July amid a decline in motor vehicle output and disruptions from Hurricane Beryl. Factory output dropped 0.3% last month, the Federal Reserve said on Thursday. Data for June was revised lower to show production unchanged instead of rising 0.4% as previously reported. Economists polled by Reuters had forecast factory output falling 0.2%.

Autos, Hurricane Beryl weigh on US manufacturing output in July

The Associated Press

WASHINGTON (AP) — Americans stepped up their spending at retailers last month by the most in a year and a half, easing concerns that the economy might be weakening under the pressure of higher prices and elevated interest rates. The Commerce Department reported Thursday that retail sales jumped 1%...

US shoppers sharply boosted spending at retailers in July despite higher prices

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NewsNinja

"They accidentally gave us 2 washers and a dryer when we only ordered 1 of each". Last month, Lowe’s experienced a glitch that lowered the price of its $2,300 Midea jumbo capacity refrigerator to just $169.

‘Lowe’s messed up’: Shopper says they got $2,300 fridge at Lowe’s for just $169

NBC News

Starbucks on Tuesday reported quarterly revenue that missed analysts’ expectations as both its U.S. and international cafes faced weaker demand. Shares of the company rose more than 1% in extended trading. Here is what the company reported compared to what Wall Street was expecting, based on a survey of...

Starbucks is reeling as customers go elsewhere, sales decline

Las Vegas, NV

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Bellingham Metro News

LAS VEGAS, NEVADA - A magnitude 4.4 earthquake struck areas near Las Vegas on Tuesday night, according to the United States Geological Service (USGS). The quake, which occurred at 8:06 p.m., was centered approximately 45 minutes from Las Vegas, near Indian Springs.

Magnitude 4.4 Earthquake Shakes Areas Near Las Vegas

“Our revenues have not grown as expected — and we’ve yet to fully benefit from powerful trends, like AI,” said CEO Pat Gelsinger in a memo to employees. “Our costs are too high, our margins are too low. We need bolder actions to address both — particularly given our financial results and outlook for the second half of 2024, which is tougher than previously expected.”

Intel to lay off 15,000 employees

Dow Jones rose over 500 points on Thursday as investors expressed confidence in the economy following robust retail sales and weekly job data. In the afternoon, the Dow climbed 507 points or about 1.2% to 40,515. S&P 500 popped up 1.4%, while Nasdaq increased by 2%. Suggested Reading. The Commerce...

The Dow jumps 500 points on strong retail sales and job growth

Colorado State

David Heitz

A bill quietly introduced this spring in the Colorado legislature to decriminalize the possession of drug paraphernalia obtained by harm reductionists has become law. As low-key as the legislation was introduced, the bill was signed into law without fanfare June 6. It garnered little to no media attention.

Colorado legalizes needles, pipes for meth and crack if obtained by harm reduction group

Partly reflecting a rebound by auto sales, the Commerce Department released a report on Thursday showing retail sales in the U.S. increased by much more than expected in the month of July. The Commerce Department said retail sales jumped by 1.0 percent in July after edging down by a revised...

U.S. Retail Sales Jump Much More Than Expected Amid Rebound By Auto Sales

BENTONVILLE, Ark. — Walmart's second-quarter results beat expectations, as the retailer reported strong growth in revenue and operating income. Walmart's consolidated revenue for the quarter ended July 31 increased 4.8%, to $169.3 billion. Operating income grew faster — up 8.5% — and global eCommerce increased by 21%.

Walmart posts 4.8% revenue gain in second quarter

The Guardian

ONS data shows strong performance in second quarter with the service sector helping drive growth

UK economy continues recovery from recession with GDP growth of 0.6%

Candy giant Mars' $35.9 billion offer for Kellanova is a fresh burst of energy for the mergers and acquisitions market. The Mars transaction is the largest M&A deal this year, according to Dealogic, ahead of Capital One Financial’s $35.3 billion deal to acquire Discover Financial Services, announced in February.

How the $35.9B Mars Bid for Kellanova Stacks Up Among Food and Drinks Deals

Florida State

Jacksonville Today

Republican Donald Trump has a 7-point lead over Democrat Kamala Harris among Florida voters, 49% to 42%, according to a new poll from the University of North Florida. Four percent are backing another candidate, and 6% are undecided or didn’t answer.

New Florida poll: Trump leads; support strong for abortion and recreational weed

Candy giant Mars has agreed to acquire Pop-Tarts and Pringles maker Kellanova for a total enterprise value of $35.9 billion in what would be the biggest M&A transaction this year. A deal by Mars for Kellanova, which was spun out of cereal-focused Kellogg last year, would expand the privately held...

Candy Maker Mars Buys Pop-Tarts, Pringles Maker Kellanova for Nearly $36 Billion

Total construction starts lost 19 percent in June, falling to a seasonally adjusted annual rate of $1 trillion, according to Dodge Construction Network. Much of the decline was due to a stark decline in utility/gas starts following a strong May that saw several mega-projects get underway. During the month, nonbuilding starts fell 46 percent (following a 49 percent gain in May), while nonresidential starts fell 13 percent. Residential starts rose 9 percent during the month. On a year-to-date basis through June, total construction starts were up 7 percent from the first six months of 2023. Residential starts were up 14 percent, while nonbuilding starts gained 8 percent, and nonresidential building starts rose 1 percent.

Manufacturing starts plunge 34 percent, institutional down 19 percent

The backbone of America’s economy remains solid, despite a slowing job market, elevated interest rates and still-high inflation.

Sales at stores are suddenly surging in the US economy’s latest show of strength

TechRadar

AMD’s new Ryzen 9700X and 9600X processors aren’t selling well according to a new nugget of information – though we need to be careful around drawing any conclusions too soon.As you’ll likely recall, these are the first Zen 5 (Ryzen 9000) processors to go on sale from AMD, and they hit the shelves last week. Wccftech reports that according to TechEpiphany’s figures – a source who regularly supplies stats on CPU sales from a major German retailer, MindFactory, on X – there were only a handful of Ryzen 9000 chips sold in their launch week.
🔥 CPU Retail Sales Week 32...

Report suggests AMD’s new Ryzen 9000 CPUs aren’t selling well at all – but Intel shouldn’t get too excited yet

NewsBreak

Here's Why Manufacturing Was Down in July

Multiple reports on Thursday depicted weakness in the manufacturing and industrial sectors of the economy. Manufacturing activity is often used as a measure of economic growth,...

Here's Why Manufacturing Was Down in July

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