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Persons: You've, Chase, takeout, it's, you've, they've, that's, You'll, Taylor Swift, It's Organizations: Business, Chase Travel, PayPal, Chase

☆ Chicago gas prices could soar after tornado narrowly misses refinery
▼ + stars: | 2024-07-17 | by ( Chris Isidore | Matt Egan | ) edition.cnn.com time to read: +2 min

New York CNN —Gas prices could soon soar across the Chicago metropolitan area after a tornado narrowly missed a major ExxonMobil refinery outside of Chicago Monday night, knocking out power to the facility. The refinery, know as ExxonMobil’s Joliet Refinery, is located in neighboring Channahon, Illinois. The line of storms that hit the area Monday night produced 11 tornadoes in the greater Chicago area, including the one that hit Channahon, according to the National Weather Service. It will take a few days to return the Joliet refinery to normal production, assuming no damage occurred beyond the power outage, Lipow said. The the Chicago area is already at $4.07 a gallon, according to AAA, but that average price, based on Tuesday’s prices, was down 1 cent from the previous day.

Persons: John Petrakis, Andy Lipow, ”, Tom Kloza, Beryl’s, Lipow Organizations: New, New York CNN, ExxonMobil, Channahon, CNN, Lipow Oil Associates, ExxonMobil Joliet, Chicago, National Weather Service, AAA Locations: New York, Chicago, Joliet Refinery, Channahon , Illinois, Chicagoland, Whiting Indiana, Lemont Illinois, Houston, Joliet, Gulf

☆ Cramer's Lightning Round: Don't sell Match Group
▼ + stars: | 2024-07-16 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

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Persons: Palo, Linde's, you've, You've, there's, Teva, Eli Lilly, Jim Cramer's Organizations: Charitable Trust, Products, Air Products, Therapeutics, Sarepta Therapeutics, BJ's Wholesale, Costco, ., Teva, Viking Holdings, Royal Locations: Palo Alto, Linde, Royal Caribbean

☆ Why Wells Fargo shares will rise once the Fed starts cutting interest rates
▼ + stars: | 2024-07-15 | by ( Morgan Chittum | ) www.cnbc.com time to read: +2 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Jim Cramer said Wells is a portfolio stock that will rise once the Federal Reserve lowers rates, leading to a rebound in the bank's interest-based revenues. 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, Donald Trump, Morgan Stanley, Monday's, clawing, Wells, Jim, Jim Cramer's Organizations: CNBC, Dow Jones Industrial, Abbott Laboratories, Companies, Wells, Federal, Costco Wholesale, Costco Locations: Wells Fargo, Wells, U.S, Canada

☆ One likely reason Costco is hiking its membership fee
▼ + stars: | 2024-07-14 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

Retailers' profits are seeing a pinch as inflation cools — and in some categories, even reverses. For Costco, raising membership fees can offset some of that deflationary bite. The wholesale club prides itself on ultra-low markups, and membership fees help it do that. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . A fall in prices (known as deflation) can put a pinch on retailers' profits as they must offer better promotions and discounts to keep shoppers coming back.

Persons: — Organizations: Costco, Service, Business

☆ Costco is a master at building customer loyalty
▼ + stars: | 2024-07-13 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

Read previewCostco announced this week that it's raising its membership fees — and Reddit users seem indifferent. This story is available exclusively to Business Insider subscribers. Another Redditor wrote that membership prices had only gone up by $10 since they first joined 13 years ago. AdvertisementSuperfan Susan Schwartz previously told Business Insider that the retailer was "inherently modest." AdvertisementCostco also says it will refund membership fees if customers are "dissatisfied."

Persons: —, I've, aren't, Susan Schwartz Organizations: Service, Costco, Business, Gold Star

☆ Stock market today: Dow closes above 40,000 as rally breaks out beyond mega-cap tech
▼ + stars: | 2024-07-12 | by ( Max Adams | ) www.businessinsider.com time to read: +2 min

Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Investors cheered the broadening of a 2024 stock-market rally that has been largely concentrated with mega-cap tech names associated with the AI trade. Behind the rally in encouraging data that's paving the way for a rate cut in September. Consumer prices rose less than expected last month, while wholesale inflation was hotter, though only slightly and not enough to derail a coming rate cut, market pros said Friday. The rate-sensitive two-year Treasury note has dropped by about 14 basis points in a week and the 10-year bond is down over eight basis points in that time.

Persons: Dow, Russell, —, Stocks Organizations: Service, Dow Jones, Investors, Reserve, Nvidia Locations: Here's

☆ Unexpected bad news for inflation: Wholesale prices rose in June
▼ + stars: | 2024-07-12 | by ( Alicia Wallace | ) edition.cnn.com time to read: +2 min

CNN —Wholesale price inflation unexpectedly accelerated in June to its highest rate since March 2023. That’s an unwelcome development for the US economy one day after the government announced that consumer prices declined on a monthly basis for the first time in four years. On a monthly basis, prices rose 0.2% after holding flat in May. Economists had expected that prices would increase 0.1% on a monthly basis and hold steady at 2.2% annually. Prices dropped on a monthly basis for the first time since May 2020, and annual inflation slowed to 3%, its slowest rate since June 2023.

Persons: That’s, Price, ” Clark Bellin, Bellin Organizations: CNN —, of Labor Statistics, PPI, Federal Reserve

☆ Wholesale prices rose 0.2% in June, slightly hotter than expected
▼ + stars: | 2024-07-12 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

A measure of wholesale prices rose more than expected in June as Wall Street assesses when the Federal Reserve will feel comfortable cutting interest rates. The producer price index rose 0.2% last month, the Labor Department's Bureau of Labor Statistics reported on Friday. The PPI is a gauge of prices that producers can get for their goods and services in the open market. Friday's report comes shortly after the June consumer price index came in cooler than expected on Thursday. The Fed's preferred inflation reading is the personal consumption expenditure price index.

Persons: Dow Jones Organizations: Port, Federal, Labor Department's Bureau of Labor Statistics, PPI, Traders Locations: Port of Los Angeles, San Pedro , California

☆ Stock market today: Indexes edge higher as traders digest fresh inflation data and bank earnings
▼ + stars: | 2024-07-12 | by ( Max Adams | ) www.businessinsider.com time to read: +2 min

US stocks edged higher on Friday after a rough prior session as traders digested new data and earnings. Banks including JPMorgan and Citi kicked off second-quarter earnings season. AdvertisementUS stocks were slightly higher on Friday as new inflation data dropped and big US banks kicked off second-quarter earnings season. Even with Friday's strong PPI, we still believe a September rate cut is in play," Clark Bellin, president and CIO of Bellwether Wealth, said. AdvertisementMeanwhile, big US banks opened up the second-quarter earnings season.

Persons: —, Clark Bellin, Wells Organizations: JPMorgan, Citi, Service, Federal Reserve, Bellwether Locations: Wells Fargo

☆ Buying the dip on a cheap stock? Don't do it 'just because the price has gone down,' says investing chief
▼ + stars: | 2024-07-12 | by ( Ryan Ermey | ) www.cnbc.com time to read: +6 min

"Buying because the stock price has gone down without knowing some of the underlying issues or without understanding some of the underlying activities, could be problematic," says Clark Bellin, president and chief investment officer at Bellwether Wealth. After all, a stock could take major losses and then soar to new heights à la Apple. But what about that same markdown in the price of that company's stock? You'll just have to figure some things out before you buy, says Sam Stovall, chief investment strategist at CFRA. Rather than scrambling to do research, he says, keep a watchlist of stocks you'd be interested in buying at the right price.

Persons: Clark Bellin, Sam Stovall, Bellin, Charles Rotblut, Stovall, It's, Raife Giovinazzo, Giovinazzo Organizations: Blockbuster, Nike, American Association of, Fuller, Thaler Asset Management, Nasdaq, Yahoo Finance, CNBC

☆ Stocks making the biggest moves midday: Delta Air Lines, SoundHound AI, WD-40, Tesla and more
▼ + stars: | 2024-07-11 | by ( Sean Conlon | ) www.cnbc.com time to read: +4 min

Check out the companies making headlines in midday trading: Delta Air Lines — The stock fell almost 5% after the airline issued a sales growth forecast for the third quarter that came in below expectations. The company also reported an almost 30% decrease in net income for the second quarter compared to a year ago. Shares of major airline stocks American Airlines and United Airlines also fell around 4.7% and 3.7%, respectively, following the results. WD-40 reported total net sales of $155 million in the fiscal third quarter, up 9% from the year-ago period. Semiconductor names — Investors took a few chips off the table on Thursday, selling high-flying semiconductor stocks.

Persons: QuantumScape, Conagra, Lantheus, Tesla, Horton, —, Alex Harring, Samantha Subin, Yun Li, Lisa Kailai Han, Pia Singh, Tanaya Macheel, Darla Mercado Organizations: Delta Air Lines, American Airlines and United Airlines, Costco, Peugeot, Opel, Vauxhall, Lantheus Holdings, Medicare, Services, PepsiCo, Revenue, Bloomberg News, Bloomberg, Industries, Builders, Semiconductor, —, VanEck Semiconductor, Nvidia Locations: U.S, Canada, Europe

Bank of America, meanwhile, raised its price target on Costco after the company announced an increase to its membership fees. Analyst James Heaney assumed coverage of Roblox with a hold rating — down from a buy — and $42 price target, which implies a 5.9% potential increase. Rakers' new target price suggests the stock — which is up 24.8% this year — could gain another 11.4%. Analyst Robert Ohmes upped his price target by $88 to $962 on Costco, suggesting shares could gain 8.8%. Its price target of $385 implies upside of 26.2% from Wednesday's close.

Persons: Jefferies, Roblox, downgrades, James Heaney, Heaney, RBLX, — Pia Singh, Wells, Aaron Rakers, Rakers, Wamsi Mohan, Mohan, There's, Robert Ohmes, Ohmes, Fred Imbert Organizations: CNBC, Spotify Technology, Bank of America, Costco, Silo AI, Silo, AMD, Apple, of America, Apple's, Conference, U.S, Apple Vision, America, Jefferies, Spotify Locations: Wells Fargo, Europe, North America, Nod.ai, U.S, China, India, Canada, Wednesday's

☆ Costco price increase: Is the $130 Executive Membership still worth the money?
▼ + stars: | 2024-07-11 | by ( Nicolas Vega | ) www.cnbc.com time to read: +1 min

Costco is increasing the price of admission to its warehouse stores for the first time since 2017. Beginning Sept. 1 the members-only chain will raise the price of its $60 Gold Star membership to $65. Its premium $120 Executive Membership will now cost $10 more. And if you're already a Gold Star member, should you upgrade to the $130 tier? On paper, the pricier Executive Membership sounds like a great deal.

Persons: Coke Organizations: Costco, Star

☆ Stocks making the biggest moves premarket: Delta Air Lines, Costco Wholesale, Pfizer and more
▼ + stars: | 2024-07-11 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Delta Air Lines — Shares tumbled 9% after the airline issued a lower-than-expected sales growth forecast in the current quarter. Net income also fell 30% in the second quarter despite revenue reaching record highs. Costco Wholesale — Costco shares added nearly 3% after the wholesale club raised its membership fee for the first time since 2017 . Alcoa — The aluminum producer's shares rose 2.7% after releasing preliminary second-quarter results that came in stronger than expectations. MicroStrategy – MicroStrategy shares rose more than 4% after the bitcoin development company announced a 10-for-1 stock split .

Persons: Morgan Stanley, Jefferies, MicroStrategy, —, Jesse Pound, Tanaya Macheel, Michelle Fox, Alex Harring, Hakyung Kim, Sarah Min Organizations: Delta Air Lines, Costco Wholesale, Costco, Pfizer, PepsiCo —, Pepsi, Semiconductor, Darden, Jefferies, Alcoa, FactSet, FactSet . Revenue, Spotify Locations: U.S, Canada, FactSet .

☆ Costco Raises Membership Fees for First Time in 7 Years
▼ + stars: | 2024-07-11 | by ( Hank Sanders | ) www.nytimes.com time to read: +1 min

Costco is increasing its annual fee for members by more than 8 percent in the United States and Canada, the first increase in seven years, the company announced on Wednesday. Beginning Sept. 1, the fee for customers who shop at Costco Wholesale stores will increase by $5 to $65 annually for the basic Gold Star Membership and by $10 to $130 annually for customers with the Executive Membership. “The fee increases will impact about 52 million paid memberships, a little over half of which are Executive,” a spokesman for Costco, the Washington State-based membership wholesale retail store, said in a statement. “As a reminder, we last raised our membership fees in the U.S. and Canada in June 2017.”The announcement did not specify whether people who purchase annual memberships before Sept. 1 will see a charge for the difference or if they can enjoy the lower price until they pay for a second year in 2025. Costco did not immediately respond to requests for comment on Thursday.

Persons: ” Organizations: Costco, Costco Wholesale, Washington State Locations: United States, Canada, U.S

☆ The Nasdaq looks ugly, giving many stocks in the broader market their time in the sun
▼ + stars: | 2024-07-11 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

However, most stocks were up with about 6 to 1 advancers to decliners on the New York Stock Exchange. The reverse happened Thursday as those stocks became a source of funds to buy the rest of the market, especially the housing stocks, solar stocks, real estate stocks, utilities, cyclical, and small caps. 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. Traders work on the floor of the New York Stock Exchange (NYSE) on July 11, 2024 in New York City.

Persons: Jim Cramer, Russell, Banks, Wells, Morgan Stanley, Jim Cramer's, Jim, Spencer Platt Organizations: CNBC, Nasdaq, New York Stock Exchange, Meta, Palo Alto Networks, Big Tech, FedWatch, CPI, PPI, JPMorgan, Citigroup, Jim Cramer's Charitable, Traders, Getty Locations: decliners, Wells Fargo, New York City

☆ Here's why the cooler consumer inflation we wanted flipped the stock market on its head
▼ + stars: | 2024-07-11 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

It also gave investors the green light to rotate out of this year's tech winners and into rate-sensitive stocks. In other words, we're right back to the market expecting as many as three cuts by the end of the year. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: Jim Cramer, toolmaker Stanley Black, Decker, Jim, Price, That's, We've, we've, Jim Cramer's, Eric Thayer Organizations: Federal Reserve, CNBC, PPI, Walmart, Costco, PepsiCo, CPI, U.S, Nasdaq, Jim Cramer's Charitable, Aldi, Bloomberg, Getty Locations: Alhambra , California

☆ Costco hikes membership fee for the first time since 2017
▼ + stars: | 2024-07-10 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +2 min

The membership-based warehouse club said Wednesday that it will increase its membership fee by $5 in the U.S. and Canada as of Sept. 1. Costco said the fee increases would affect about 52 million memberships, a little over half of which are executive memberships. Costco relies on membership fees to drive most of its revenue and help keep merchandise prices low. Its rival, Walmart- owned Sam's Club, hiked its own membership fee in 2022 for the first time in nine years. At BJ's Wholesale, annual membership fees are $55 and $110, for club members and its own higher tier, respectively.

Persons: Craig Jelinek, Richard Galanti Organizations: Costco, CNBC, Walmart, Sam's Club, Wholesale, Netflix Locations: U.S, Canada

☆ Costco is raising its membership fee for the first time in 7 years
▼ + stars: | 2024-07-10 | by ( Alex Bitter | ) www.businessinsider.com time to read: +2 min

Costco said Wednesday that it's raising its annual membership fee. AdvertisementCostco's annual membership fee is getting more expensive. The membership prices are the same amount regardless of currency — a Gold Star membership in Canada runs 60 Canadian dollars, for example. The increase is the first time that Costco has raised its membership fee since 2017. In May, Costco CFO Gary Millerchip said that a fee increase would happen at some point, adding that it was a question "of when we increase the fee, rather than if we increase the fee."

Persons: —, Gary Millerchip Organizations: Costco, Service, Star, Business Locations: Canada

REUTERS/Tom Bateman/File Photo Purchase Licensing Rights New Tab , opens new tabJuly 10 (Reuters) - Costco Wholesale (COST.O) New Tab , opens new tab said on Wednesday it would hike annual membership fees for the first time in seven years for its U.S. and Canada customers, effective Sept. 1. Costco said the maximum annual 2% reward associated with executive membership will also increase to $1,250 from $1,000. "The market has been expecting (discussion of) a membership fee hike for a couple years ... management historically tends to raise membership rates every 5 to 6 years," said Michael Ashley Schulman, chief investment officer at Running Point Capital Advisors. For fiscal 2023, membership fee revenue accounted for 1.9% of the company's total revenue. New Tab , opens new tabSave Share XFacebookLinkedinEmailLink Purchase Licensing Rights

Persons: Tom Bateman, Costco, Michael Ashley Schulman, Schulman, Granth, Mohammed Safi Shamsi Organizations: Costco, REUTERS, Costco Wholesale, Running, Capital Advisors, Thomson Locations: Meiwa, Gunma Prefecture, Japan, Canada, Bengaluru

Traders work on the floor at the New York Stock Exchange on June 14, 2024. U.S. stock futures were little changed Wednesday night after both the S&P 500 and Nasdaq Composite closed at new all-time highs. Futures tied to the broad market index slipped less than 0.1%, as did Nasdaq 100 futures . These moves come before a key inflation report due to be released Thursday morning, which could help solidify expectations for a rate cut in September. "Any upside surprises in inflation are going to be downside surprises for markets.

Persons: Dow Jones, Mike Bailey Organizations: New York Stock Exchange, Nasdaq, Dow Jones Industrial, Costco Wholesale, Dow, FBB Capital Partners, PepsiCo, Delta Air Lines

☆ May final wholesale inventories keep the preliminary number at highest level since August '22
▼ + stars: | 2024-07-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMay final wholesale inventories keep the preliminary number at highest level since August '22CNBC's Rick Santelli reports on the latest economic data to cross the tape.

Persons: Rick Santelli

☆ CNBC Daily Open: Fed's Powell says high rates could hurt growth
▼ + stars: | 2024-07-10 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The yield on the 10-year Treasury note rose even as Powell said progress had been made on inflation. Growth in jeopardyPowell warned that keeping interest rates high for too long could harm economic growth. Mainland China's CSI 300 was little changed as consumer price inflation rose less than expected and producer prices fell, raising concerns about deflation in the world's second-biggest economy.

Persons: Inching, Jerome Powell, KeyBanc, Apple, Powell, Joe Biden, NATO's, Putin, Biden, Max Organizations: CNBC, Nasdaq, Nvidia, Dow Jones Industrial, Russia, Patriot, Boeing, China's CSI, Bank of America Locations: intraday, Ukraine, U.S, Germany, Romania, Netherlands, Italy, Asia, China, Pacific, South

☆ Stocks making the biggest moves after hours: WD-40 Company, Costco and more
▼ + stars: | 2024-07-10 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +1 min

Check out the companies making headlines after the bell : WD-40 Company — Shares gained 11% after the maker of metal lubricants reported fiscal third-quarter results that beat analysts' expectations. WD-40 posted earnings of $1.46 per share on revenue of $155 million, higher than the earnings of $1.39 per share on revenue of $145.8 million analysts were expecting, according to FactSet. PriceSmart — The membership warehouse club operator added 6% after posting a fiscal third-quarter earnings and revenue beat. Costco Wholesale — Shares gained 3% after the membership-only retail chain announced its first membership rate increase since 2017. The Costco Wholesale Corp. logo is displayed above a gas station in Hawthorne, California, on June 12, 2024.

Persons: PriceSmart, FactSet, Patrick T, Fallon Organizations: Costco, Semiconductor, Technology, Costco Wholesale Corp, Afp, Getty Locations: Hawthorne , California

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