Pinterest cut nearly 15% of the company's workforce and reduced office space in January as it pushes more resources into AI.
Despite new GLP-1 drugs and Medicare coverage, most employers aren't covering them for weight loss due to high costs. Many are exploring alternative support methods for employees.
Federal Reserve officials showed divergent views on interest rates at their June meeting, with some anticipating easing conditions allowing for lower rates and others expecting elevated inflation necessitating hikes. The committee ultimately voted to maintain the current rate range.
Oil prices surged to $74/barrel for WTI and $78 for Brent after President Trump declared the Iran ceasefire agreement over. Treasury yields rose as inflation worries grew, impacting cyclical stocks negatively. AI stocks, particularly Nvidia, rebounded on news of potential chip sales to China, though past reports have not materialized.
Rivian announced plans to raise capital by selling ~75 million shares, surprising investors and causing the stock to drop. The author argues this is a necessary move for manufacturing and believes the dilution is minor, presenting a potential buying opportunity.
Jim Cramer's CNBC Investing Club recap: Stocks fell amid Iran tensions, impacting airlines and banks. Broadcom shares rose on Apple partnership details. Old Dominion Freight Line upgrade viewed positively for FedEx Freight. Cramer urged discipline and avoiding greed.
New research from George Mason University's Mercatus Center warns that delaying Social Security reform could negatively impact the bond market and the broader U.S. economy. With the Old-Age and Survivors Insurance trust fund projected to deplete in Q4 2032, inaction may lead to increased borrowing, higher interest rates, and a potential fiscal crisis.
