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Uber is offering new perks for Costco lovers as it looks to expand into the suburbs. Members and non-members can now shop Costco on Uber Eats for delivery of groceries and more. AdvertisementAs Uber looks to expand its reach beyond cities, the company is forging an alliance with the veritable king of suburbia: Costco. The ride-hailing and delivery service on Wednesday announced a new partnership with the wholesale club that will bring Costco groceries and merchandise to customers via Uber Eats. This story is available exclusively to Business Insider subscribers.
Persons: , Dara Khosrowshahi Organizations: Costco, Uber, Service, CNBC, Wednesday, Business
Business Insider spoke to a former Costco employee to learn how to get the best deals at the store. She also said to check the Costco app for coupons and to split bulk items with friends and family. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThere are plenty of killer deals to find at Costco, but shopping smart is key to saving the most cash. Business Insider spoke to Tess Robison, former Costco employee, to figure out how to get the best deals at the members-only wholesale giant.
Persons: Robinson, , Tess Robison Organizations: Costco, Service, Business
Under Armour announced a broad restructuring plan on Thursday as it said sales in its largest market, North America, plunged 10% and predicted the trend will get worse throughout its current fiscal year. The athletic apparel retailer also saw profits plunge by more than 96% during its fourth fiscal quarter, compared with the year ago period. During the quarter, sales in North America dropped 10% to $772 million, worse than the $780 million that analysts had expected, according to StreetAccount. The company said it expects sales to continue to worsen in North America. Analysts had expected earnings per share of 52 cents, according to LSEG.
Persons: Armour, Kevin Plank, Stephanie Linnartz, Plank, Linnartz Organizations: CNBC, LSEG, Analysts, Marriott, Armour Locations: Manhattan , New York City, North America
Employees work in the trading room inside the Mitsubishi UFJ Trust and Banking head office in Tokyo, Japan, on Tuesday, March 19, 2024. Asia-Pacific markets opened higher Wednesday, tracking Wall Street gains overnight that saw the Nasdaq Composite index hit a fresh record closing high despite strong inflation data. The producer price index reading for April came in at 0.5%, above the 0.3% that economists polled by Dow Jones had expected. The initial market reaction was negative but stocks subsequently rose as March wholesale prices were revised down to show a 0.1% decline. Markets in South Korea and Hong Kong were shut on Wednesday for a public holiday.
Persons: Dow Jones Organizations: Mitsubishi UFJ Trust, Banking, Nasdaq Locations: Tokyo, Japan, Asia, Pacific, South Korea, Hong Kong
See more mortgage rates on Zillow Real Estate on ZillowMortgage Refinance Rates TodayMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's interest rates will affect your monthly payments. 30-Year Fixed Mortgage RatesThis week's average 30-year fixed mortgage rate was 7.09%, according to Freddie Mac. 15-Year Fixed Mortgage RatesAverage 15-year mortgage rates inched up to 6.38% this week, according to Freddie Mac data. Mortgage rates increased dramatically over the last two years, but they're expected to go down at some point this year.
Persons: Fannie Mae, you'll, Freddie Mac, it's Organizations: Zillow, Federal Reserve Locations: Chevron
The 2-year Treasury yield was last at 4.8061% after falling by over one basis point. U.S. Treasury yields were lower on Wednesday is investors considered the outlook for inflationary pressures and awaited the latest consumer price index data. The producer price index for April, which tracks wholesale prices, came in higher than expected on Tuesday. This comes ahead of the consumer price index for April which is expected to be released Wednesday. On an annual basis, inflation is anticipated to slow slightly to 3.4% from 3.5% in March.
Persons: Dow Jones, Jerome Powell Organizations: Treasury, Investors, Labor Department's Bureau of Labor Statistics, PPI, Core CPI
Asia-Pacific markets were largely higher Tuesday even as stocks on Wall Street stumbled, with the Dow Jones Industrial Average snapping an eight-day winning streak. Investors in Asia assessed India's inflation numbers. Data released Monday showed consumer price index climbed 4.83% year on year, nearly in line with the 4.8% expected by economists polled by Reuters. India's wholesale inflation reading is due to be released later in the day. Data from the Bank of Japan showed that corporate inflation was steady in April compared with a year earlier, but import prices jumped 6.4% year over year last month, most likely due to the yen's sharp declines.
Organizations: Dow Jones, Reuters, Bank of Japan Locations: Jama, New Delhi, India, Asia, Pacific
Please refresh the page if you do not see a player above at that time.] Federal Reserve Chair Jerome Powell speaks Tuesday to the annual general meeting of the Foreign Bankers' Association in Amsterdam. Policymakers remain concerned that inflation is not showing enough evidence that it is moving toward the Fed's 2% annual target. Recent data points have shown prices both at the consumer and wholesale levels running hotter than expected while consumer sentiment also has shown elevated expectations over the short term. Markets still expect the Fed to lower rates later this year, and Powell said following the FOMC meeting that he thinks it unlikely that rates will increase from here.
Persons: Jerome Powell, Powell, Read Organizations: Foreign Bankers ' Association in, Market, CNBC, YouTube Locations: Foreign Bankers ' Association in Amsterdam
"I expect that inflation will move back down on a monthly basis to levels that were more like the lower readings we were having last year," he told attendees at a banking conference. So we're just going to have to see where the inflation data fall out." The index, a proxy for wholesale prices, accelerated 2.2% on an annual basis, the highest reading in a year. "This will be the most important read of the month [excluding nonfarm payrolls] as inflation continues to defy expectations," said Dan North, senior economist at Allianz Trade North America. Even if the report comes in around consensus expectations, it will be "inadequate progress for the Fed to consider a cut until September," he added.
Persons: Frederic J, Brown, Dow Jones, Jerome Powell, we're, Dan North Organizations: AFP, Getty, Federal Reserve, Labor Department's Bureau of Labor Statistics, Allianz Trade North, Fed Locations: Rosemead , California, Amsterdam, Allianz Trade North America
Treasury yields dip as investors await key inflation data
  + stars: | 2024-05-14 | by ( Sophie Kiderlin | In | ) www.cnbc.com   time to read: +1 min
ET, the yield on the 10-year Treasury was down by less than one basis point to 4.4747%. The 2-year Treasury yield was last at 4.8400% after falling by over one basis point. U.S. Treasury yields fell slightly on Tuesday as investors awaited fresh inflation data and looked to remarks from Federal Reserve policymakers. Investors looked to fresh key economic data and comments from Federal Reserve officials, scanning them for hints about the path ahead for monetary policy. This is the first of two key inflation reports slated for the week, with the consumer price index for April being expected Wednesday.
Persons: Dow Jones, Jerome Powell Organizations: Treasury, Federal Reserve, Investors, PPI, Dow, CPI
Wholesale prices rose 0.5% in April, more than expected
  + stars: | 2024-05-14 | by ( Jeff Cox | ) www.cnbc.com   time to read: +3 min
Wholesale prices jumped more than expected in April, putting up another potential roadblock to interest rate cuts anytime soon. Stripping out volatile food and energy prices, core PPI also increased 0.5% compared to the 0.2% Dow Jones estimate. On a year-over-year basis, wholesale inflation rose 2.2%, also the highest in a year. Core PPI inflation was at 2.4%, the biggest annual move since August 2023. Services prices boosted the wholesale inflation reading, rising 0.6% and accounting for about three-quarters of the headline gain, while the final demand goods index increased 0.4%.
Persons: Dow Jones, Chris Larkin, Morgan Stanley Organizations: Labor Department's Bureau of Labor Statistics, PPI, Reuters . Stock, BLS, Federal Reserve, Commerce, York
Major indexes were slightly higher after the data as investors assessed the impact on rate cut outlooks. April's producer price index data beat estimates, gaining 0.5% for the month against 0.3% consensus estimates. The PPI data comes a day before Wednesday's consumer price index and will give investors a broader frame of reference. If CPI data is equally hot, the stuttering stock rally could face even more negative consequences. The 10-year Treasury briefly topped 4.5% after the PPI data before slipping by about one basis point to 4.465.
Persons: Jerome Powell, , Chris Zaccarelli, Keith Gill Organizations: Service, PPI, Independent, Federal, GameStop, AMC, Treasury, Here's
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. The Club stock is trading around $328 per share Tuesday, so it's hardly been a steep pullback thus far. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Tuesday's, Jerome Powell, James Saccaro, Stanley Black, Decker, Jim Cramer's, Don Allan, Jim, Eaton, We'll Organizations: CNBC, Bank of, GE Healthcare, Eaton Corp, Nvidia, Costco, Walmart, Target, Amazon, Jim Cramer's Charitable Locations: Amsterdam, U.S, China, Europe, America
CNN —Wholesale inflation picked up in April to its highest rate in a year, as price hikes continue to weigh on American businesses and hamstring the Federal Reserve’s plans to cut interest rates. While higher energy costs (up 2% in April) pushed goods prices higher, services inflation is what drove the overall PPI higher. Even when excluding the volatile components of food and energy, “core” PPI accelerated instead of slowing as economists had anticipated. The core index was up 2.4% for the 12 months ended in April — the highest annual rate since August of last year. March’s core PPI was revised down to show that prices fell 0.1% from March and rose 2.1% annually.
Persons: Price Organizations: CNN, of Labor Statistics, PPI
Tuesday’s wholesale inflation data, which jumped to its highest rate in a year, certainly wasn’t a source of comfort. “I wouldn’t call it hot, I would call it sort of mixed,” Powell said Tuesday, referring to the new wholesale inflation data. Federal Reserve Chair Jerome Powell (center) spoke Tuesday at an event hosted by the Foreign Bankers' Association alongside European Central Bank Governing Council member Klaas Knot. Another troubling sign for US central bankers is consumers’ belief that inflation will move higher in the year ahead, according to two surveys Fed officials monitor closely. That can lead to higher prices.
Persons: Jerome Powell, Powell, Price, ” Powell, , Klaas, Michelle Bowman Organizations: New, New York CNN, Foreign Bankers ’ Association, European Central Bank Governing, Federal, Foreign Bankers, Association alongside European Central Bank Governing, Foreign Bankers Amsterdam, Locations: New York
Washington CNN —For the second time in less than a week, President Joe Biden falsely claimed Tuesday that the inflation rate was 9% when he began his presidency. The year-over-year inflation rate in January 2021, the month of his inauguration, was about 1.4%. The Biden-era inflation rate did peak at about 9.1% – but that peak occurred in June 2022, after Biden had been president for more than 16 months. The March 2024 inflation rate, the most recent available rate at the time Biden made these comments, was about 3.5%, up from about 3.2% the month prior. Separate Producer Price Index data that was released on Tuesday showed the highest wholesale inflation rate in a year.
Persons: Joe Biden, Biden, Donald Trump, ” Biden, , it’s, Biden’s, Trump Organizations: Washington CNN —, CNN, Yahoo Finance, Biden, White Locations: Ukraine
Stock futures were little changed as Wall Street braced for April's consumer price index. Futures tied to the Dow Jones Industrial Average added 17 points, while S&P 500 futures and Nasdaq 100 futures hovered near the flatline. The Dow Jones Industrial Average gained 0.32%. Economists polled by Dow Jones expect the consumer price index to show a 0.4% monthly gain, or a 0.3% increase excluding food and energy. Tuesday's producer price index for April contributed to that narrative, showing a 0.5% gain in wholesale prices, above the 0.3% estimate from Dow Jones.
Persons: Nextracker, Dow Jones, Tom Lee Organizations: New York Stock Exchange, Stock, Dow Jones, Nasdaq, Dow Jones Industrial, Investors, Federal, Dow, Fundstrat Global, Cisco Systems Locations: New York City
As of the most recent March data, the average reservation wage for Americans with a college degree rose to a survey-high of $99,081, up from $97,270 in March 2023 and $81,758 in March 2020. It means that not as many Americans are landing new jobs that pay in the six-figure range. The average reservation wage for people without a degree was $68,390, up from $59,683 in March 2023 and $48,778 in March 2020. The average reservation wage among all respondents was $81,822, up from $75,811 and $61,377 in March 2020. AdvertisementAre you struggling to find a six-figure job?
Persons: , it's Organizations: Service, York Fed's Survey, Consumer, Business, Bureau of Labor Statistics, of Labor Statistics, New, New York Fed Locations: York, New York
ET, the yield on the 10-year Treasury was down by nearly 2 basis points at 4.485%. The 2-year Treasury yield was last at 4.844% after falling by more than 2 basis points. U.S. Treasury yields fell slightly Monday as investors looked to key inflation data and comments from Federal Reserve officials slated for the week. Investors awaited key economic data due this week, including April's consumer price index, which is expected Wednesday and will provide fresh insights into whether consumer inflation is easing or sticky. April's producer price index, which tracks inflation on a wholesale level, is also due this week.
Persons: Dow Jones Organizations: Treasury, U.S, Federal Reserve, University of Michigan Survey
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. There was largely an "absence of news" last week, Jim Cramer noted, and yet stocks were still able to advance. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Stocks, Jim, OpenAI, Vimal Kapur, Jim Cramer's Organizations: CNBC, Dow Jones Industrial, Nasdaq, Apple, Bloomberg News, Developers Conference, Honeywell International, Club, Honeywell, AAPL
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street.
Persons: Jim Cramer, it's, OpenAI, Mira Murati, Jensen Huang, We're, Jim's, Estee, Jim, Jim Cramer's Organizations: CNBC, Microsoft, Nvidia, Dover Corp, Clean Energy, Sustainability Technologies, Club, Vision, Bloomberg, Apple Vision, U.S, Jim Cramer's Charitable Locations: Illinois, Dover, U.S, China, Estee Lauder
Open to allIt's unclear why the NRF rejected Shein's membership application, but according to one of the people familiar, someone with sway is strongly against the company's admittance. The NRF's board has a leadership team and an executive committee. An NRF membership application form that can be found online states: "Companies principally engaged in retailing are eligible for membership in the Federation." Two of the board members said they weren't aware of any instances where the NRF denied a retailer membership. "I don't think they are in the business of turning anyone down," one of the board members told CNBC.
Persons: Scott Olson, Matthew Shay, Courtney Reagan, CNBC Steve Dennis, Neiman, Sears, Dennis, Shein, John Furner, Bob Eddy, Mike George, Brian Cornell, Tony Spring, wasn't, Wang Ying, Ashley Sanchez, Joscelin Flores, Allen J, They've, Temu, it's Organizations: Getty, National Retail Federation, CNBC, Neiman Marcus, New York Stock Exchange, Shay, Walmart U.S, BJ's Wholesale, Qurate, QVC, Federation, Brands, Publicis Groupe, Coresight, Xinhua News Agency, Forum, World Retail, Los Angeles Times, Chinese Communist Party Locations: Whitestown , Indiana, New York City, America, U.S, New York, United States, Hamburg, Germany, Los Angeles, Paris, Davos, Switzerland, Las Vegas, Shoptalk, Fontana, Ontario Mills, Ontario
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEntrepreneur talks building $400 thousand wholesale cheesemonger businessHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.
Persons: Brian Sullivan, Organizations: CNBC
Read previewA Tennessee woman racked up over 11 million views on her TikTok video, which showed her surprising her husband with a birthday party at Costco. It ends with a birthday party in the food court: guests are gathered around a Costco birthday cake, and a clown is even shown making balloon animals. The woman invited around 30 family and friends to her husband's surprise 27th birthday party on May 5 at Costco, she told People magazine. But this isn't the only Costco fan to throw a birthday party at the store; several other Costco birthday party TikToks have gone viral recently. AdvertisementIt can be a cheap alternative for a birthday partyLast year, a TikToker went viral for her budget-friendly Costco birthday.
Persons: , it's, Clint, TikToks, Madison Stimmel, @katscollections, commenter, wouldn't, Madison Stimmel's TikTok, Stimmel Organizations: Service, Costco, Business, Fort Oglethorpe, Costco ., Kansas City Costco Locations: Ringgold , Georgia, Costco . Madison, Manhattan
All three major U.S. stock indexes closed higher for the week, led by the Dow Jones Industrial Average . The Nasdaq Composite added 1.14% while the S & P 500 advanced 1.85% in a relatively quiet week of economic updates. Within the portfolio, Disney and Wynn Resorts released quarterly numbers; we took issue with the stock reaction to both reports. It also raises the stakes around major economic releases, such as next week's consumer inflation report. In the week ahead, earnings season continues — headlined by Walmart on Thursday — and inflation data will dominate the economic calendar.
Persons: We've, Jim Cramer, Dow Jones, we'll, We'll, Stanley Black, Decker, Jack, JACK, Arcutis, Spero, JD.com, Armour, Jim Cramer's, Jim, Carlo Allegri Organizations: Dow Jones, Nasdaq, Disney, Wynn Resorts, Procter, Procter & Gamble, Walmart, CPI, PPI, Club, Home Depot, Biotech Corporation, Music Entertainment, Central Puerto S.A, TeraWulf Inc, Paysafe Group Holdings, QuickLogic Corporation, Kopin Corp, Royalty Corp, Agilysys Inc, Crop Solutions Corp, Inovio Biomedical, Intercorp Financial, Lithium, Argentina ) Corp, Sea, Sony Group Corporation, SONY, Holding, HudBay Minerals, Autolus Therapeutics, Game Technology, Nu Holdings, Dragonfly Energy Holdings Corp, Bakkt Holdings, Prestige Consumer Healthcare, SilverCrest Metals, Inc, Mining Corp, Acurx Pharmaceuticals, Cresco Labs, Dole plc, DOLE, Arcos Dorados Holdings, ARCO, Cisco Systems, Grab Holdings, Copa Holdings S.A, Technologies, Iris Energy, KORE Group, Super, Spero Therapeutics, ZTO, Baidu, Deere & Company, NICE, Lightspeed Commerce, Ship Lease, Canada Goose Holdings, Drainage Systems, Consolidated Water Co, Outlook Therapeutics, Despegar.com, Corp, DXC Technology Company, Flowers Foods, Bruker Corporation, WYNN, CNBC, Foods Locations: Procter &, Central, Cayman, Lithium Americas, Argentina, Manhattan, New York City
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