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Retailers' sales fell by 0.6% last month to $763.6 billion, versus the 0.2% growth recorded in June.
The S&P 500 reached new highs as inflation reports eased, reducing expectations for further Fed rate hikes. Producer Price Index data was benign, supporting a patient Fed stance and alleviating concerns about rising input costs.
Turkey reduced oil purchases from Russian ports in July and is set to cut them further in August after Ukrainian drone attacks disrupted exports from Russia's Black Sea terminals, according to traders and LSEG shipping data.
Elon Musk's SpaceX and Jeff Bezos' Blue Origin are betting on orbital computing, bringing data centers to space. Insurers that aren't looking at space as the next frontier for insurance underwriting risk missing out on a big growth story, according to Patton Kline, Marsh U.S. aviation and space practice leader.
Rebecca Babin, CIBC Private Wealth senior energy trader, said that she doesn't expect gas prices to drop much lower before election day and that the price at the pump will likely be lower than the White House would like it to be for November's midterms. Babin said that while oil prices have climbed as tensions have build back up in the Strait of Hormuz, it is China's position in the oil market that is keeping prices from growing to $100 a barrel.
Relentless heat and drought could halve this year's French maize harvest and reduce European Union production to its smallest in decades, analysts said, despite expectations that crops in Poland and Romania will hold up better.
Coherent remains a leveraged play on AI/datacenter demand but faces questions on the sustainability of that demand and potential margin expansion. The company trades at high near-term multiples, but projected explosive growth could compress valuation significantly by FY29 if trends persist. Margin improvement has been somewhat soft despite explosive top-line growth, with operating leverage and EBITDA margins below initial synergy targets despite robust revenue expansion.
Adam Farstrup, Schroders head of multi-asset for the Americas, joins 'Squawk Box' to discuss the latest market trends, state of the AI boom, how to diversify from the AI trade, and more.
Market volatility readings are in deep retreat. That could be a concern.
Airlines are getting grounded jets back into the air. The bills left by a years-long engine crisis are proving much harder to bring down.
El Salvador-based Tether, which issues the world's largest stablecoin, said KPMG U.S. had performed a "full independent audit" of its financial statements for the first time.
The relationship between bond yields and equities has turned negative again, says LPL Financial
Applied Materials forecast fails to dazzle, White House to crack down on tariff evasion, the shipping world is in chaos, and more news to start your day.
The yield on the 10-year U.S. Treasury note — the key benchmark for U.S. government borrowing — rose 2 basis points to 4.661%.
Gains on investments in companies like Anthropic are inflating earnings at some of the biggest technology companies.
