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☆ Bronfman's Paramount bid could keep Shari Redstone involved at the company
▼ + stars: | 2024-08-23 | by ( Alex Sherman | ) www.cnbc.com time to read: +3 min

Edgar Bronfman Jr.'s offer for a controlling stake in Paramount Global could keep Shari Redstone close to the company, if his bid is successful. Both Bronfman's bid and Skydance's bid would also include money to buy out a percentage of Paramount Global common shareholders. At $6 billion, Bronfman's bid would give cash to about 20% of Class B holders at $16 per share. The Paramount Global special committee will determine if Bronfman's offer is a superior proposal for shareholders by Aug. 28. Spokespeople for Redstone, Bronfman, the Paramount Global special committee and Skydance all declined to comment.

Persons: Edgar Bronfman Jr, Shari Redstone, Bronfman, Sumner Redstone, Bronfman's, Skydance, Jon Miller, Skydance . Miller, —, Jason Ostheimer, Miller, Shari Redstone haven't, David Ellison Organizations: Paramount Global, Paramount, National Amusements, Skydance Media, Skydance, Redstone, Bronfman Locations: Bronfman, Miller, Redstone

☆ Delta chief operations officer departing for another company after just over a year on the job
▼ + stars: | 2024-08-23 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

Delta Air Lines ' chief operating officer is leaving at the end of the month, the company said in a securities filing on Friday. CEO Ed Bastian said in an employee memo that Chief Operations Officer Mike Spanos is taking a job at another company. Delta doesn't plan to replace Spanos, Bastian said. Instead, John Laughter, the chief of operations and president of Delta's TechOps maintenance-and-overhaul unit, and Allison Ausband, chief customer experience officer, will report to Bastian. Spanos joined Delta in May 2023 and previously held the role of CEO at Six Flags Entertainment and executive positions at PepsiCo .

Persons: Ed Bastian, Mike Spanos, Bastian, Spanos, John Laughter, Allison Ausband Organizations: Delta Air Lines, Delta, Microsoft, Six Flags Entertainment, PepsiCo Locations: Delta

☆ I spend $1,300 a year on credit-card fees to get big travel perks. Here are ones I swear by and which I won't pay for again.
▼ + stars: | 2024-08-22 | by ( Jamie Davis Smith | ) www.businessinsider.com time to read: +6 min

I'm a frequent traveler spending $1,300 a year on credit card fees to get great perks. My United℠ Explorer Card card has gotten me priority boarding but I'm not sure I want to keep it. For years, I prided myself on using no-fee credit cards that offered a small amount of cash back on purchases. But I changed my mind once I started traveling more and learning about the perks some credit cards offered. Here are my favorite travel card perks, plus a few I've enjoyed but would be OK losing.

Persons: I'm, —, I've, Taylor Rains Organizations: American Express, Service, Honors, Chase, United, United Club Locations: New Delhi, Washington, DC

The World, a luxury liner, has many descriptions, but "cruise ship" is not one of them, said resident Jim Minarik. "The only thing that's similar between the world and a cruise ship is they float on the water," he said. Minarik and his wife bought their apartment in 2020 with plans to spend one to two months a year on the ship. Source: The WorldYet money is not a big topic aboard The World, Minarik said. Wong said that while other companies have tried, The World is still the only ship of its kind.

Persons: Jim Minarik, we're, Minarik, Eddie Wong, Wong, There's, I'd Organizations: CNBC, CNBC Travel Locations: Singapore, Antarctica, French Polynesia, Easter, Amalfi Coast, Australia's Kimberley, Papua New Guinea, Solomon, South America, South Africa, Cape Town, Orange County , California, Africa's, Penola Strait

☆ Meta director who used to work for Elon Musk says companies without an internal AI tool are 'already behind the curve'
▼ + stars: | 2024-08-19 | by ( Ana Altchek | ) www.businessinsider.com time to read: +5 min

Read previewIn addition to its suite of consumer-facing AI offerings like Meta AI, Facebook's parent company also has its an internal tool for employees. She said she uses the tool "all the time for efficiency gains," — and companies that don't have their own internal AI tool are "already behind the curve." Any sizable company operating without an internal AI tool is already behind the curve. The company's internal AI tool, which is called VaultBot, answers "around 32% of all engineering questions," according to a company announcement from January. Other big tech giants are also developing internal AI tools alongside consumer-facing products.

Persons: —, Alex Heath, Mark Zuckerberg's, Heath, Esther Crawford, that’s, Esther Crawford ✨, Crawford, Kaz Nejatian, EY, PwC, Banks, Goldman Sachs Organizations: Service, Business, Elon, Twitter, Meta, KPMG, McKinsey, QuantumBlack, JPMorgan, OpenAI, Bain & Company Locations: Meta

The virus is classified into two distinct groups: clade I and clade II. Clade II was responsible for the 2022 outbreak, which has led to around 100,000 cases worldwide. Clade I is more transmissible than clade II and capable of being more severe, so infectious disease experts are concerned about further international spread. How does this version of mpox spread? Historically, mpox lesions have tended to appear on the face, chest, palms of the hands and the soles of the feet.

Persons: ”, Anne Rimoin, that’s, Stuart Isaacs, Isaacs, there’s, Rimoin, Marc Siegel, Amira Albert Roess, “ It’s Organizations: Democratic, Health, University of California, Los Angeles Fielding School of Public Health, University of Pennsylvania, George Washington School of Medicine, Health Sciences, ”, Department of Health, Human Service, George Mason University Locations: Mpox, Democratic Republic of Congo, Sweden, Africa, Pakistan, Los, Congo, U.S, DRC

☆ NBCUniversal is pinning Peacock's streaming success on its $2.45 billion per year NBA deal
▼ + stars: | 2024-08-15 | by ( Alex Sherman | In Alex-Sherman | ) www.cnbc.com time to read: +7 min

On Jan. 13, NBCUniversal's subscription streaming service Peacock showed its first-ever exclusive NFL playoff game — a 26-7 victory by the eventual Super Bowl-winning Kansas City Chiefs over the Miami Dolphins. For NBCUniversal, obtaining NBA rights helps guarantee sustainability in a fight for eyeballs against streaming behemoths such as Netflix , Amazon Prime Video and Disney +. Beginning with the 2025-26 season, Peacock will have about 50 exclusive national regular-season and postseason NBA games, including national Monday night games and doubleheaders. Having exclusive NBA games is really important for that mission." Discovery decided not to compete with NBCUniversal for NBA rights once the price tag ballooned past $2 billion per year.

Persons: Angela Weiss, Rick Cordella, Peacock, Patrick Mahomes, Kansas City Chiefs Jamie Squire, Cordella, NBCU, they've, David Berson, Jessica Reif Ehrlich, Ehrlich, NBCUniversal, Adam Silver Organizations: NBA, AFP, Getty, Comcast, NBC Sports, Disney, NFL, eventual, Kansas City Chiefs, Miami Dolphins, Nielsen, Research, Peacock, Premier League, WWE, IndyCar, Recreation, Sports, Media, Netflix, Amazon Prime, Paramount, CBS Sports, Skydance Media, Warner Bros . Discovery, Bank of America, NBC, Warner Bros, Discovery, TNT, ABC, ESPN, Hollywood, CNBC Locations: New York, U.S, Peacock

☆ Dip buyers vindicated as CPI report revives economic 'soft landing' scenario
▼ + stars: | 2024-08-14 | by ( Bob Pisani | ) www.cnbc.com time to read: +3 min

This is the second day in a row that stocks have reacted with relief to an inflation report. The S & P 500 is now back to where it was just before the disappointing jobs report on Aug. 2. The S & P technology sector ETF (XLK) is also back to levels before the jobs report. The Cboe Volatility Index (VIX) has collapsed to 17 — also where it was just before the jobs report. Despite the growth scare that followed the jobs report, there are no signs of an imminent recession.

Persons: — Organizations: Federal, Treasury, Bloomberg News, Tech, Nvidia, Atlanta Fed Locations: Treasurys

☆ Harris and Walz to take bus tour through Pennsylvania ahead of Democratic convention
▼ + stars: | 2024-08-14 | by ( Eva Mckend | Piper Hudspethblackburn | ) edition.cnn.com time to read: +2 min

Tim Walz, will roll through Pennsylvania on a bus tour Sunday, dropping in on the crucial battleground state just days before the Democratic National Convention in Chicago. The pair’s first rally shortly after Walz was announced as Harris’ running mate was in Philadelphia, the commonwealth’s largest city, and they embarked on a dayslong tour of battleground states shortly after. Sunday’s tour, which is scheduled to begin in Pittsburgh, will mark the first time that Harris, Walz and their respective spouses – second gentleman Doug Emhoff and Minnesota first lady Gwen Walz – will appear on the campaign trail together. The campaign has 36 coordinated offices and 300 staffers in Pennsylvania, which Harris has already visited seven times this year. Seven battleground states have been the focus of more than $212 million in ad spending over that stretch, with Pennsylvania accounting for $70.6 million of that total.

Persons: Kamala Harris, Tim Walz, It’s, Harris, Walz, –, Doug Emhoff, Gwen Walz –, Donald Trump, ’, Trump, Joe Biden, Biden, Kayla Tausche, David Wright Organizations: CNN, Minnesota Gov, Democratic National Convention, Pennsylvania, Electoral, Keystone State, Democratic, Republicans Locations: Pennsylvania, Chicago, Philadelphia, Pittsburgh, Minnesota, Milwaukee, Wisconsin, Michigan, Wilkes, Barre , Pennsylvania, Butler, Pittsburgh . Pennsylvania

☆ 'Cheap' and 'under-owned': CIO makes the case for UK stocks despite U.S. bounce back
▼ + stars: | 2024-08-14 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +3 min

U.K. stocks are looking particularly attractive after a fresh bout of market volatility, according to the chief investment officer of financial firm Wren Sterling. It is in this context that Wren Sterling's Rory McPherson believes British stocks look "cheap" and "under-owned." When asked whether investors should consider U.K. stocks as part of a shift away from U.S. tech companies, McPherson replied, "Well, we think so. I mean you look at the market like the U.K., it's on 12 times earnings, its cheap, its under-owned. Analysts have recently turned bullish on U.K. stocks, which had been unpopular for years.

Persons: Wren Sterling, Wren, Rory McPherson, McPherson, CNBC's, " McPherson Organizations: Global, U.S, Analysts, BlackRock Investment, BlackRock, Labour Party, CNBC, Bank of, Bank of England Locations: U.S

An Arkansas police officer who was caught on video beating a handcuffed inmate in the back of a patrol car has been fired and his case has been referred to prosecutors, the police chief said. Jonesboro Police Chief Rick Elliott fired Joseph Harris on Friday, a day after he was caught on his patrol car video elbowing and punching the handcuffed man and then slamming the car door on his head after the man choked himself with a seatbelt. He was apprehended by Harris and was being returned to the county jail when the assault occurred, Elliott said. I will gather the facts after the fact.”Coram is being detained at the Craighead County Jail on an escape charge and is wanted for extradition to Mississippi, a jail official said. Harris is a defendant in an ongoing lawsuit filed in June over a man who died in the Craighead County Jail this year.

Persons: Rick Elliott, Joseph Harris, Elliott, Billy Lee Coram, Harris, Coram, hadn’t, Coram “, ”, “, ” Harris, Sonia Hagood, Hagood, Cody Brooks, I’m, Harold Copenhaver, “ I’m, ” Elliott Organizations: Jonesboro Police, YouTube, NAACP Locations: Arkansas, Greene, Craighead, Mississippi

An amendment that would enshrine abortion access in Missouri's constitution will appear on the state's general election ballot, Missouri Secretary of State Jay Ashcroft's office announced Tuesday. Ashcroft, a Republican, deemed that the petitions to qualify the initiative for the ballot had the sufficient number of signatures. The ballot would also protect abortion rights up until fetal viability, around the 24th week of pregnancy, except to protect the life or health of the mother. Amendments that would protect or expand abortion rights will also appear on the ballot in seven other states this fall. Organizers in Arkansas, Montana and Nebraska have also submitted signatures for similar ballot measures.

Persons: State Jay Ashcroft's, Ashcroft, Rachel Sweet, Roe, Wade Organizations: State, Republican, U.S, Supreme, Voters Locations: Missouri, Arkansas , Montana, Nebraska, California , Michigan , Ohio, Vermont

Trump’s allies are also publicly making their pitch for him to refocus his attention on the race. “You’ve always got to be assessing the state of the race, and I would like to see more offense from the Trump campaign. On a swing of battleground states last week, Harris and her new running mate were greeted by a groundswell of supporters at each stop. "This was a TRUMP idea — She has no ideas, she can only steal from me," Trump wrote on Truth Social. In an appearance on Real America’s Voice last week, Trump’s political director, James Blair, made the case that it is a state-by-state race.

Persons: Donald Trump, Kamala Harris, Trump, ”, ” Trump's, “, Harris, Joe Biden's, Brian Kemp, Kevin McCarthy, “ You’ve, ” McCarthy, Tim Sheehy, Dan Eberhart, —, Biden, ” Trump, outpacing Harris, ” Karoline Leavitt, Trump’s, Walz, David Lee, Chris Grant, James Blair Organizations: Republican, Trump, NBC News, Fox News, Montana, Democrat, ”, Mar, Biden, ABC, Harris, Privately, CNBC, Democratic, “, Labor, MAGA Inc, Politico, Real America’s Voice Locations: Georgia, Bozeman, Asheville , North Carolina, Pennsylvania, Florida, Las Vegas, Arizona, Michigan , Wisconsin , Nevada, North Carolina

A judge ruled Monday against independent presidential candidate Robert F. Kennedy Jr.’s effort to appear on New York's general election ballot this fall. New York Supreme Court Justice Christina Ryba invalidated Kennedy's nominating petition and directed the Board of Elections not to place Kennedy's name on the official ballot. Supreme Court is a trial-level court in New York state. We will appeal and we will win.”A Democratic-aligned group, Clear Choice Action, sued Kennedy over the New York address he claimed as his residence on ballot access petition forms. The Democratic National Committee said after the ruling that Kennedy was a "deeply troubled, reckless, and dangerous man."

Persons: Robert F, Kennedy Jr, Christina Ryba, ” Kennedy, ”, Kennedy, Cheryl Hines Organizations: . New, NBC, New, Democratic National Committee Locations: ., New York, “, York, California, Town, Bedford, Croton, Pennsylvania

New York residency is especially important to Mr. Kennedy because his running mate, Nicole Shanahan, lists California as her home. Mr. Kennedy, 70, an environmental lawyer, spends most of his time at a home in Los Angeles that he shares with his wife, the actress Cheryl Hines. “New York has been his residence continuously since 1964, and Mr. Kennedy has deep ties to it,” Mr. Savino said in the statement. Mr. Kennedy revealed the bear-dumping in a video he posted on social media just before a critical New Yorker profile that included the same anecdote was published. After the bear story became public — resulting in a barrage of public criticism and mockery — Mr. Kennedy sought to fire back, placing a post on X.com on Tuesday, attacking the “mainstream media.”“The more you smear me,” Mr. Kennedy wrote, “the more I’ll keep speaking.”

Persons: Robert F, Kennedy Jr, Kennedy, —, Kennedy’s, William F, Savino, “, ”, Paul Rossi, Christina L, Lis Smith, Donald J, Biden, Trump, Kamala Harris, Nicole Shanahan, Cheryl Hines, ” Mr, Barbara Moss, Ms, Moss, David Michaelis, Nancy Steiner, Steiner, Michaelis, Moss’s, Bobby, Mr Organizations: Clear Choice, Democrat, Constitution, Democratic National Committee, Democratic Party, Democratic, Trump, Mr, New, New York Post, Westchester, Yorker Locations: York, Albany, N.Y, New York, Manhattan, U.S, Michigan, North Carolina, Hawaii , New Jersey, North Carolina . New York, California, Los Angeles, Katonah, New York City, Westchester County, “, Central Park, X.com

☆ How Elon Musk has turned X into a pro-Trump machine
▼ + stars: | 2024-08-13 | by ( Clare Duffy | ) edition.cnn.com time to read: +9 min

But now Musk, who is not only the owner but also the most followed user on X, has shifted to more direct campaigning for former President Donald Trump. Musk announced his official endorsement for Trump in a post last month that received 2.3 million likes. Weeks after it was posted, the video is not labeled with a “community note,” X’s community fact-checking feature that Musk used as justification for slashing the company’s trust and safety team. In a letter, the secretaries urged Musk to “immediately implement changes” on the X platform. But on Monday night, Musk offered to take a role in the potential future Trump’s administration helping to rein in government spending.

Persons: Elon Musk, Donald Trump, Musk, He’s, Hunter, Trump, YOU, Trump’s, “, Elon, ” Trump, Kamala Harris, doesn’t, ” Wendy Weiser, Brennan, Harris, ”, ” Weiser, Kamala, …, White supremacists, X, Musk’s, chatbot, Harris ’, ” Lara Cohen, informercial, he’s, ” Musk, “ I’d Organizations: New, New York CNN, Elon, Twitter, Biden, White, Trump, CNN, Fake News, Fake News Media, Center, “, Brennan Center for Justice, NYU Law School, Democratic, Street Locations: New York, United Kingdom

☆ Investors are missing gains by passing on the market's least-loved stocks, investing legend Rob Arnott says
▼ + stars: | 2024-08-13 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

A portfolio of stocks booted from indexes would make an investor 74 times wealthier between 1991 and 2023, the research said. Authors Rob Arnott and Forrest Henslee announced the creation of NIXT, a fund that tracks deletions. The firm's founder and investing legend Rob Arnott and vice president Forrest Henslee wrote that stocks dropped by an index outperform for at least five years with remarkable persistence. After being deleted from an index, nixed stocks can outdo the market by an average of 5% a year. When an index decides to remove an asset, it's essentially creating excessive selling momentum, Arnott wrote.

Persons: Stocks, Rob Arnott, Forrest Henslee, —, Arnott, That's Organizations: Research Affiliates, Service, Nasdaq, Research

☆ Arizona and Missouri Will Vote on Abortion in November
▼ + stars: | 2024-08-13 | by ( Matthew Cullen | ) www.nytimes.com time to read: +1 min

Arizona voters will decide on Election Day whether to establish a right to abortion in the state Constitution. The ballot measure is a major victory for Democrats, who have used the issue of abortion to energize their voters. “Poll numbers for abortion rights are higher than poll numbers for Kamala Harris,” my colleague Kate Zernike, who covers abortion, told me. “In Arizona, Democrats think this ballot measure can really help them draw more voters.”A similar question will appear on the ballot in Missouri, state officials there said today. If voters pass the measure, Missouri would become the first state where voters overturned a near-total ban, radically reshaping access for millions of residents.

Persons: Roe, Wade, Kamala Harris, ”, Kate Zernike, “, Kate, Harris Organizations: Democrats Locations: Arizona, Missouri

☆ Why Ukraine attacked Russia and other questions about Kyiv’s incursion
▼ + stars: | 2024-08-13 | by ( Ivana Kottasová | ) edition.cnn.com time to read: +7 min

CNN —A week into Ukraine’s surprise cross-border incursion into Russia, it’s becoming increasingly clear that Moscow does not have the situation under control. The incursion – the first time foreign troops entered Russian territory since World War II – is a major embarrassment for the Kremlin. The first reports of Ukrainian troops crossing into Russia’s Kurs region, just north of the Ukrainian border, started to emerge late last Tuesday. By Monday, Kyiv claimed to have control over some 1,000 square kilometers (386 square miles) of Russian territory. Analysts are not expecting Ukraine to attempt to advance much further into Russian territory.

Persons: it’s, Vladimir Putin, Putin, Volodymyr Zelensky, ”, “, Alexei Smirnov, Smirnov, Wagner, Yevgeny Prigozhin, Roman Pilipey, Biden, wasn’t, John Kirby Organizations: CNN, Kremlin ., Kyiv, Ukrainian, Ukraine, Kremlin, West, Getty, White House National Security Communications, Russia, European Union Locations: Russia, Moscow, Russia’s, Ukrainian, Kyiv, Ukraine, Kursk, “ Russia, Crimea, Belgorod, Bryansk, Sumy, AFP, Germany

☆ George Clooney has some choice words for Quentin Tarantino, who said he doesn’t think Clooney is a movie star
▼ + stars: | 2024-08-13 | by ( Alli Rosenbloom | ) edition.cnn.com time to read: +3 min

CNN —George Clooney has a profanity-laced bone to pick with director Quentin Tarantino. He gave me s—t,” Clooney added. Tarantino and Bamigboye were discussing who Tarantino considered to be a movie star, with actors like Julia Roberts, Leonardo DiCaprio, Charlize Theron and Denzel Washington, among others, named as people who fit the bill. (From left) Quentin Tarantino and George Clooney on the set of 'From Dusk Till Dawn.' “But no, look, we’re really lucky we got to work with these great directors,” Clooney said.

Persons: CNN — George Clooney, Quentin Tarantino, “ Quentin, ” Clooney, Wolfs, Brad Pitt, Clooney, Tarantino, “, ”, Pitt –, –, Baz Bamigboye, Bamigboye, Julia Roberts, Leonardo DiCaprio, Charlize Theron, Denzel Washington, George Clooney, it’s, ” Clooney –, Noah Baumbach, he’s, We’re, Ella, Alexander, Amal Clooney, Pitt, we’re Organizations: CNN, GQ, Cannes Film, Films, Miramax Locations: Hollywood

☆ The 10 best companies that hire, promote and train high school graduates: 'It's a launchpad for your career'
▼ + stars: | 2024-08-13 | by ( Alex Koller | ) www.cnbc.com time to read: +3 min

U.S. high school graduates looking for entry-level work might consider starting out at a company appearing on a new ranking from the American Opportunity Index. Released earlier this month, the list named 50 large companies as the best places for people with a high school diploma to launch their careers. The index scored companies based on three metrics: how likely they are to hire entry-level employees, promote them from within and set them up to land better-paying jobs when they leave. "We didn't see a whole lot out there for the 40% of high school graduates who aren't going off to post-secondary education immediately — most of whom have to find some sort of work," he continues. Rather than survey the companies, the index analyzed the career paths of around 5 million workers from 2018 until 2022 to make its assessment.

Persons: who've, Rajiv Chandrasekaran, aren't, Chandrasekaran Organizations: American, Schultz, Foundation, American Opportunity, Glass Institute, Harvard Business School, Walgreens, Financial Services, Gap Inc, Goodyear Tire, Starbucks Retailers, CNBC

☆ King Charles banknotes sell for 12 times their value as collectors scramble for early editions
▼ + stars: | 2024-08-13 | by ( Angelica Chiara Yazbeck | ) edition.cnn.com time to read: +3 min

London CNN —A record-breaking series of auctions of King Charles III banknotes has raised £914,127 ($1.2 million) for 10 UK charities, according to the Bank of England. The banknotes, auctioned by Spink & Sons over the summer, sold for 11.7 times their face value of £78,430 ($100,318), as collectors snapped up some of the first versions of the new cash to roll off the printing presses. The runaway success of the auctions highlights the value that collectors attach to banknotes with especially low serial numbers, which denote that they are among the first to be printed. “Lucky numbers” also attracted high bids, according to Spink & Sons. Two £5 notes with serial numbers ending in 88 and 888 were auctioned for £2,200 ($2,800) and £2,400 ($3,100).

Persons: King Charles III, King Charles, BOE, Queen Elizabeth II, ”, Gregory Edmund, ” Edmund, Sarah John, Winston Churchill, Queen Elizabeth, Churchill, London — Organizations: London CNN, Bank of England, Spink & Sons, Spink, CNN, WWF, Trussell, British Locations: United Kingdom, BOE, British, London

☆ I gave up my dream of being a doctor at a local hospital just one year out of medical school. That decision cost me close to half a million dollars, but it was worth it.
▼ + stars: | 2024-08-13 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +6 min

Medical school was fun but gruelingChoo (right) graduated from medical school in 2021. Faith ChooThe first two years of medical school felt like high school all over again. AdvertisementBack then, our seniors in medical school would warn us about life after graduation. They would tell us about the terrible working hours that came with being on call, like having to work for two days straight without rest. AdvertisementThe thought of leaving first crossed my mind after I clocked 19 consecutive days of work in the hospital.

Persons: —, Faith Choo, they've, Choo, they're Organizations: Service, Business Locations: Singapore

☆ Stock market today: Indexes climb as producer inflation comes in cool
▼ + stars: | 2024-08-13 | by ( Max Adams | ) www.businessinsider.com time to read: +4 min

Stocks were higher on Tuesday after PPI showed wholesale inflation was less than expected in July. Investors are now bracing for the consumer inflation reading due out on Wednesday. AdvertisementUS stocks were up on Tuesday after the producer price index for July showed wholesale inflation rose less than expected. Data from the Bureau of Labor Statistics showed that producer prices increased 0.1% last month compared to estimates of 0.2%. The cooler-than-expected reading should boost optimism for consumer prices to show a decline in inflation when the consumer price index is released on Wednesday.

Persons: —, Chris Zaccarelli, Laxman Narasimhan, Brian Niccol, Elon Musk Organizations: PPI, Investors, Service, Bureau of Labor Statistics, Federal Reserve, Fed, Depot, Bank of America, Starbucks, Trump Media, Elon

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