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Here's a rapid-fire update on all 33 stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. Broadcom : Broadcom's AI business, which includes co-designing custom chips for tech giants such as Club holding Alphabet, is booming. The newspaper reported April 12 that Salesforce was in talks to buy Informatica, which sent the Club holding's shares plunging. Wells Fargo : Another trim is due for our Wells Fargo position after a great run for the bank stock, Jim argued. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: Jim Cramer's, Jim, Johnson, Abbott, Andy Jassy, Bausch, Salesforce, Salesforce didn't, Tom Jorden, We've, It's, Walt Disney, Nelson Peltz's, Bob Iger's, Estee Lauder, there's, Eaton, We're, he's, Locker, he'd, Vimal Kapur, Linde, Eli Lilly, Eli Lilly's, TikTok, Joe Biden, Morgan Stanley, Morgan Stanley's, Ted Pick, Jensen Huang, Nikesh Arora, haven't, Laxman Narasimhan, Sands, Stanley Black, Decker, TJ Maxx, TJX, Wells, Jim Cramer, Angela Weiss Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Apple, Abbott Laboratories, Johnson, Web Services, Broadcom, VMWare, GE Healthcare, GE, Bausch Health, Costco Wholesale, Costco, Street, Informatica, Coterra, DuPont De Nemours, DuPont, Walt, Disney, Ford, GM, Philips, Siemens, Google, Honeywell, Linde, Facebook, Meta, Microsoft, Nvidia, Investors, AMD, Oregon State University, Palo Alto Networks, UnitedHealth, Procter & Gamble, Constellation Brands, Constellation, Modelo, TJX, Marshalls, Home Goods, Wynn Resorts, Jim Cramer's Charitable, New York Stock Exchange, Afp, Getty Locations: China, Informatica, Ford, Estee, U.S, mater, Palo, Corona, Wells Fargo, Wells, Macao, New York City
In today's big story, we're looking at Tesla's earnings report and what comes next for the EV maker. The big storyTesla's turnaround planJADE GAO/AFP via Getty Images; Chelsea Jia Feng; BIBad news: Tesla's earnings report was worse than expected. AdvertisementPerhaps that's why Musk spent so much of the earnings call discussing autonomy and the progress made with Tesla's Full Self-Driving software . Musk told analysts on the earnings call that Tesla is the majority of his work . If investors vote against the package at Tesla's annual meeting in June, who knows where Musk — and his AI ambitions — will end up .
Persons: , Chelsea Jia Feng, Elon Musk, Tesla, Musk, hasn't, Insider's Linette Lopez, Matt Anderson, Tyler Le, JPMorgan's Marko Kolanovic, Kolanovic, Cathie, Stocks, Goldman Sachs, Gerard Julien, Elon Musk's, Carl Godfrey, Joe Biden, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Business, Service, Getty Images, Tesla, Getty, EV, Musk's, Intel, Micron Technology, Microsoft, BI America, Amazon, Boeing, Meta, IBM, US Locations: Delaware, Outflows, United States, China, Idaho, New York, London
I've dropped 73 pounds in 10 months, and a few items at Costco have helped me along the way. Protein-rich foods like the Kirkland Signature organic plain Greek yogurt are always in my fridge. For quick meals, I buy the Honey Smoked Fish Co. salmon stackers and the Kirkland Signature hummus. Like many typical Costco shoppers, I prioritize getting healthy meals and snacks when grocery shopping. This story is available exclusively to Business Insider subscribers.
Persons: I've, Organizations: Costco, Kirkland, Service, Business
The big storyTick-tock on TikTokChelsea Jia Feng/BITikTok's time in the US could soon be on the clock. When it's all said and done, a TikTok ban could be in place before the week's end. Business Insider's Peter Kafka explains why the TikTok ban, while more imminent than ever, still has a long way to go . A TikTok ban would benefit one familiar face in social media, though, writes BI's Katie Notopoulos . YouTube Shorts, too, stand to grab more attention after a TikTok ban.
Persons: , Caitlin Clark's, Chelsea Jia Feng, ByteDance, Joe Biden, it's, Business Insider's Peter Kafka, Michael Beckerman, TikTok, hawking, BI's Lindsay Dodgson, outperforming, Katie Notopoulos, Merrill Lynch, Tyler Le, Andy Sieg's, Merrill, Lindsay Hans, Eric Schimpf, It's, Steve Cohen's, Grzegorz Wajda, Hokyoung Kim, Nordstrom, Tesla, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Business, Service, Nike, Bloomberg Intelligence, YouTube, Big Tech, New York Stock Exchange, NYSE, Chelsea, Getty, Walmart, BI, Costco, Amazon, Motors, Spotify Locations: Americas, TikTok, Merrill, China, American, New York, London
Read previewWhenever Costco releases a batch of gold bars for sale, the supply sells out "within a few hours" as shoppers snap up the precious metal for a small markup over its spot price. The out-of-stock notices give the allure of a hard-to-get item, but the wholesale club is still moving a lot of gold bars and silver coins — to the estimated tune of $200 million a month. This story is available exclusively to Business Insider subscribers. Unlike cash or even gift cards, Costco classifies gold bars as collectibles, which may or may not retain their value over time. AdvertisementFor that matter, the Internal Revenue Service also considers gold bars as a collectible too, and demands as much as a 28% cut of any profits on gold held for more than one year.
Persons: , Lark Mason, Adam Xi, it's Organizations: Service, Costco, Business, Street Journal, Internal Revenue Service Locations: New York
Inside every Aldi store is a single aisle of merchandise that mostly has nothing to do with groceries. The Wednesday rush can often be pinned on die-hard Aldi shoppers, 3 million of whom are members of the very active Aldi Aisle of Shame Facebook page and frequently post about their latest aisle of shame hauls. They know it’s Aldi,” Pratt said. The German Supermarket acquired Winn-Dixie, Harveys Supermarkets and other grocery stores in the Southeast in an attempt to increase its presence in the region. That’s where this aisle of shame fits in and helps Aldi offer its low prices overall.”
Persons: New York CNN — Caitlyn Pratt, Pratt, Aldi’s, who’s, ” Pratt, she’s, , Caitlyn Pratt, Caitlyn Pratt Pratt, , I’ve, Britney Henderson, Britney Henderson Britney Henderson, “ I’m, ” Henderson, Aldi, John Clear, Alvarez, Clear, Jason Hart, Brandon Bell Organizations: New, New York CNN, Walmart, Aldi, CNN, ALDI, Morning, Target, Costco, German Supermarket, Harveys, Products Locations: New York, Heavener , Oklahoma, Arkansas, Iowa, Atlanta , Georgia, It’s, Pflugerville , Texas, Winn
My family tried peanut butter from four different grocery stores and ranked them from worst to best. The Kirkland Signature organic creamy peanut butter had a great flavor, and my kids loved it. AdvertisementMy family goes through a lot of peanut butter — my kids, ages 6 and 3, routinely eat the spread in sandwiches and snacks. Although big-name peanut butter brands are great, I wondered if I might be missing out on supermarket-brand versions, which are often a decent value. This story is available exclusively to Business Insider subscribers.
Persons: Organizations: Kirkland, Service, Business
Boeing's corporate planes collectively flew about 4,500 hours across some 1,800 flights last year, according to data from the aviation-tracking website JetSpy. Jet Edge InternationalThe fleet's top airports include Chicago International Airport, Washington Dulles International Airport, and Boeing Field King County International Airport — all located near Boeing's corporate offices and factories. AdvertisementThe locations of Boeing's corporate fleet on April 12, according to JetSpy data. For instance, JetSpy data shows aerospace company Lockheed Martin collectively flew its five private jets for about 2,700 hours in 2023. AdvertisementBoeing wrote in the filing that its CEO "is required to use company aircraft for all business and personal travel for security reasons."
Persons: , Dave Calhoun, Calhoun, Brian West, Lockheed Martin, Taylor Swift, Elon Musk, Max, messier Organizations: Service, Business, Boeing Business Jets, Canadian, Bombardier, Challenger, Jet Edge, Chicago International Airport, Washington, International Airport, Boeing Field King County International, Airport, Lebanon Municipal Airport, Wall Street Journal, Boeing, Lockheed, PepsiCo, Costco, Alaska Airlines, Calhoun . Locations: Westchester, New York, Lebanon, New Hampshire, South Carolina, New Canaan , Connecticut, American
JPMorgan CEO Jamie Dimon issued a warning in the bank's earnings report Friday. With so much at stake, here's an earnings season cheat sheet of when some of the biggest companies are reporting and the storylines to follow. Themes to watch: AI could reduce the number of junior bank employees thanks to the tech automating their grunt work . Themes to watch: Netflix was dubbed the king of streaming earlier this year after a big earnings report. The bank's earnings report beat analysts' expectations, but advisory revenues were down 21% year-over-year.
Persons: , Donald Trump's, iStock, Rebecca Zisser, Jamie Dimon, Dimon, Michael M, Goldman Sachs, Blackstone, Will Meta, Bob Iger's, Brooks Kraft, Jeremy Barnum, it's, Jeff Currie, Justin Sullivan, Tesla, Elon Musk, Musk, Marco Bottigelli, Yevgen Romanenko, Tyler Le, Michelle Grisé, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Grace Lett Organizations: Service, Business, JPMorgan . Tech, JPMorgan, New York Stock Exchange, Finance Key Companies, Bank of America, Companies, Meta, Microsoft, Apple, Nvidia, Amazon, Retail, Walmart, Costco, Netflix, Disney, Paramount Global, Boeing, Brooks Kraft LLC, Getty, BI, Healthcare, RAND, Boston Marathon Locations: Israel, Russia, United States, New York, London, Chicago
My partner and I are dual income, no kids, so we shop at Costco for just adults. We love going to Costco for great deals on produce and sparkling water. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . This story is available exclusively to Business Insider subscribers.
Persons: , haven't Organizations: Costco, Service, Business Locations: Chicago
Researchers studied racial bias in hiring by sending over 83,000 fake résumés to big US companies. The auto services industry was among those most likely to show a preference for résumés containing white-sounding names. But in the most extreme instances, those doing the hiring favored résumés that might be presumed to be from white candidates by 24%, on average. Already, some people in fields like tech who have seen cuts in recent years are applying to job after job with little luck. AdvertisementOf the 108 companies researchers sent résumés to, among the best performers were car-rental company Avis Budget Group and the grocery chain Kroger.
Persons: , Emily, Greg, Jamal, résumés, Pat Kline, Brad, Darnell, Andreas Leibbrandt, Leibbrandt, Khyati Sundaram, doesn't, Kline, it's Organizations: Fortune, Service, University of Chicago, University of California, National Public, Company, NAPA Auto Parts, Costco, Genuine Parts Company, Business, Avis Budget Group, Kroger, NPR, Lamar, Australia's Monash University Locations: Berkeley, NAPA
So last October, at the age of 80, Murray ended her retirement and got a job giving out samples at Costco. Forecasters expect that cohort of older , working Americans to double over the next decade. “More people are working at desk jobs that don’t require much physical labor,” said Gal Wettstein, a senior research economist at the Center for Retirement Research at Boston College. “That’s people who are changing jobs, younger workers and non-college educated workers.” Older workers tend not to change jobs, and they’re more likely to have a college degree. The Age Discrimination in Employment Act (ADEA) forbids age discrimination against people who are age 40 or older in the workplace.
Persons: Hope Murray, , Murray, she’ll, , Murray isn’t, Gal Wettstein, Monique Morrissey, ” Morrissey, What’s, Heidi Brockway, Brockway, Morrissey, ageism, Bob Vaughn, Wettstein, Vaughn, Mary Susan, they’ve, Mary Susan’s, they’d, They’re, Diane Reiter, ” Reiter, she’s, I’d, She’s Organizations: New, New York CNN, Gas, Costco, , Pew Research Center, Center for Retirement Research, Boston College, Economic Policy Institute, Social, Social Security Agency, Social Security, Lawmakers, AARP, Retirement Research, Amazon, Economic, Worker, Brookings Locations: New York, Hollywood, San Diego, Los Angeles, Southeast Florida, Florida, United States, Charlotte , North Carolina, Asheville, Chicago
How the corporate America is handling sticky inflation and the prospect of higher interest rates will be top of mind for investors in the week ahead, after this week's choppy moves. The first-quarter earnings season, which kicked off Friday, will give Wall Street insight into how businesses expect to weather an environment of elevated interest rates. More macro data, such as U.S. retail sales, will give insight into how the consumer is handling higher pricing pressures. First-quarter earnings season underway The corporate earnings season kicks into high gear in the week ahead. This week, the small cap Russell 2000 is on track for a losing week, down by more than 1%.
Persons: Bob Doll, CNBC's, Wolfe, Rob Ginsberg, Ginsberg, Goldman Sachs, Morgan Stanley, FactSet, Robert Haworth, Haworth, Charles Schwab, Johnson, D.R, KeyCorp Organizations: Dow Jones Industrial, Exxon Mobil, Costco, Apple, Crossmark, Investments, Investors, Bank of America, Consumer, U.S . Bank, Index, Retail, T Bank, Housing, Manufacturing, Hunt Transport Services, United Airlines, Johnson, Bank of New York Mellon, UnitedHealth Group, Northern Trust, CSX, Discover Financial Services, Prologis, U.S . Bancorp, Philadelphia Fed, American Express, Procter, Gamble, Fifth Third Bancorp, Schlumberger Locations: America, China, NAHB, Vegas Sands, U.S, Horton
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, Stocks, Banks, JPMorgan Chase, Jamie Dimon, Morgan Stanley, Bausch, Jim, Jim Cramer's Organizations: CNBC, Club, Citigroup, JPMorgan, Securities and Exchange Commission, U.S, Appeals, Federal Circuit, Health, Jefferies, Xifaxan, Bausch Health, Costco, GE Healthcare, Mizuho, Broadcom, Apple, Nvidia, Jim Cramer's Charitable Locations: Wells Fargo, BlackRock
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Jim Cramer said the "market's got its mind made up," and investors are too short-sighted on the Federal Reserve's next interest rate move. This is a bullish sign for the stock, Jim argued, because it shows management's conviction in Costco's business. 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 .
Persons: Jim Cramer, market's, Jim, we're, Andy Jassy, Jassy, Jim Cramer's Organizations: CNBC, Treasury, PPI, Federal, Club, Costco
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCalls of the Day: Chevron, Qualcomm, Costco, Nasdaq and American ExpressThe Investment Committee discuss the latest Calls of the Day.
Organizations: Chevron, Qualcomm, Costco, Nasdaq, American Express, Investment
Costco's monthly sales of its gold bars and silver coins could total $200 million, Wells Fargo estimated. The gold bars — which sell out very quickly — go for about 2% over the spot price. AdvertisementCostco could be selling up to $200 million worth of its one-ounce gold bars and 25-pack silver coins every month, according to estimates from Wells Fargo. The gold bars are limited to five per Costco membership, while the coins are limited to five cases. Kelly, however, noted that the sales of gold bars and silver coins would likely be bringing "minimal profit" for Costco.
Persons: Edward Kelly, , Costco's, Richard Galanti, Kelly, Costco doesn't Organizations: Costco, Service, UPS, CNBC, Costco Citi Locations: Wells, Wells Fargo
Why Are Gold Bar Sales Surging at Costco?
  + stars: | 2024-04-11 | by ( Rebecca Carballo | ) www.nytimes.com   time to read: 1 min
Alongside its $1.50 hot dog and soda combo, gallon tubs of mayonnaise and value packs of socks, Costco, the warehouse retailer, has been selling gold bars since October. Now, retail analysts say Costco is selling up to $200 million worth of gold and silver each month, according to an analysis from Wells Fargo. Online forums and Reddit threads have cropped up where customers give each other advice on how to purchase the bars before they sell out. “I’ve gotten a couple of calls that people have seen online that we’ve been selling one-ounce gold bars, yes, but when we load them on the site, they’re typically gone within a few hours,” Richard Galanti, executive vice president and chief financial officer, said in an earnings call in September.
Persons: “ I’ve, ” Richard Galanti Organizations: Costco Locations: Wells Fargo
Goldman Sachs reiterates Alphabet as buy Goldman said it's sticking with its buy rating following the company's Google Cloud Next event. "We are initiating coverage of Airbnb (ABNB) with a BUY rating and a $190 per share price target." "Following a period of restriction, we are moving to an Overweight rating and a December 2024 price target of $140." "Given the increase in stock price, we believe valuation levels have disconnected from the fundamental outlook." Piper Sandler reiterates Meta as overweight Piper raised its price target on the stock to $600 per share from $525. "
Persons: Evercore, it's bullish, Goldman Sachs, Goldman, Berenberg, TD Cowen, Visa, Oppenheimer, it's, Snowflake, Raymond James, Simona Jankowski, Wells, Morgan Stanley, Moffett, We've, Marsh, Bernstein, Kenvue, underperform Bernstein, Johnson, Needham, Airbnb, CVX, TTE, Piper Sandler, Meta, Piper, Wells Fargo Organizations: JPMorgan, Apple, Mastercard, Barclays, Nasdaq, Nvidia, UBS, Gartner, IT, Deutsche Bank, ATI, Deutsche, Disney, Microsoft, TEAM, " Bank of America, Nike, of America, Citi, Robinhood, MMC, Qualcomm, Johnson, Consumer, Scotiabank, Hamilton Insurance, Costco, ~$ Locations: Albemarle, Chevron
Dollar Tree believed acquiring Family Dollar would help it compete against larger rivals. “When Dollar Tree bought Family Dollar, they didn’t really know what they were doing,” D’Arezzo said. Many Family Dollar stores were located too close to each other and cannibalized each other’s own sales, too, D’Arezzo said. Family Dollar “needs more work than the company originally thought.”A year later, an activist investor pushed for a sale of the “underperforming” Family Dollar business, and Family Dollar announced it would close 390 stores. Dollar Tree and Family Dollar executives say Family Dollar can still succeed, however.
Persons: Dollar, Ron Holman, ” Neil Saunders, GlobalData, , , David D’Arezzo, Rick Dreiling, Kelly Bania, Carl Icahn, Nelson Peltz —, ” D’Arezzo, D’Arezzo, Dreiling Organizations: New, New York CNN, Visalia Times, USA, Dollar, BMO Capital Markets, , Street, Justice Department, Bloomberg, Walmart, Costco Locations: New York, West Coast and Texas, West Memphis, , California , Nevada , Arizona, Texas, California
Why gold prices are at record highsFrom central banks to Costco customers, it seems everyone is buying gold these days, reports CNN’s John Towfighi. Central banks see gold as a long-term store of value and a safe haven during times of economic and international turmoil. When interest rates fall, gold prices tend to rise, as bullion becomes more appealing than income-paying assets like bonds. The People’s Bank of China bought gold for the 17th straight month in March, adding 160,000 ounces to bring reserves to 72.74 million troy ounces of gold, according to Reuters. The Honest Company posted a strong fourth quarter in March.
Persons: , ” Mark Carney, , GFANZ, Jamie Dimon, ” Dimon, JPMorgan, CNN’s John Towfighi, China —, Read, Jessica Alba, Ramishah Maruf, Alba’s, Chuck Organizations: CNN Business, Bell, New York CNN, European Central Bank, Glasgow Financial Alliance, UN, Bank of England, ECB, MIT, Columbia Business School, Zero Banking Alliance, United Nations, decarbonization, CNN, JPMorgan Chase, State, JPMorgan, Investors, Federal Reserve, China, People’s Bank of China, Reuters, UBS, The Honest, The Honest Company, Honest, Nasdaq Locations: New York, Glasgow, China, India, Turkey
Chains owned by publicly traded restaurant companies accounted for half of the top 10 fastest-growing retail brands in the U.S. last year, according to a new Yelp report. Of the 50 fastest-growing chains in Yelp's report, 35 were restaurant brands. Jack in the Box, First Watch and Dutch Bros were among the public restaurant chains included in the report, but they didn't crack the top 10. Popeyes' higher sales have encouraged franchisees to open more locations and led new operators to join the brand, Restaurant Brands executives have previously said. In 2023, Popeyes surpassed KFC as the second-most popular chicken chain in the U.S. by sales, trailing only Chick-fil-A.
Persons: Jack, Levi Strauss, Cava CAVA, Cava, Zachary Lucy, Scott Olson, Darden, Yum, Stephanie Dhue, Tim Hortons, Burger King, Randy Risling, Popeyes, Michael Siluk, Freddy's, Kyle Rivas, It's, Justin Sullivan Organizations: Dutch Bros, Publicly, Nordstrom, Costco, New York Stock Exchange, Pacific Coast League, Omaha Storm, Memphis Redbirds, AP, LongHorn, Getty, Darden, steakhouse, Parent, Yum Brands, Taco Bell, KFC, East, CNBC, Wawa, Toronto Star, Brands, Restaurant Brands, UCG, Thompson, Capital Partners, Rally House, Kansas City Chiefs, Tampa Bay Buccaneers, Subs Locations: U.S, Cava, Werner, Omaha , Nebraska, Nebraska, Skokie , Illinois, California, West, Wawa, Bethany Beach , Delaware, Philadelphia, It's, Louisiana, Lansing , Kansas, Kansas City , Missouri, Midwest, Pennsylvania, Arizona, Olive, Lincolnwood , Illinois, Jersey, Petaluma , California
Why gold prices are at record highs
  + stars: | 2024-04-09 | by ( John Towfighi | ) edition.cnn.com   time to read: +6 min
Central banks see gold as a long-term store of value and a safe haven during times of economic and international turmoil. When interest rates fall, gold prices tend to rise, as bullion becomes more appealing than income-paying assets like bonds. Investors also regard gold as a hedge against inflation, betting bullion will retain its value when prices rise. The People’s Bank of China bought gold for the 17th straight month in March, adding 160,000 ounces to bring reserves to 72.74 million troy ounces of gold, according to Reuters. Higher oil prices are likely to stoke concerns over inflation, boosting gold prices, according to the UBS research note.
Persons: China —, Ulf Lindahl, Lindahl, Morgan, JP Morgan, Janet Yellen’s, Yellen, Mark Zandi, Jerome Powell, Wells, Richard Galanti, It’s Organizations: New, New York CNN, Investors, Federal Reserve, China, People’s Bank of China, Reuters, UBS, Research Associates, Moody’s, of Commerce, Costco Locations: New York, China, India, Turkey, Central, Wells Fargo
Small business confidence hit its lowest level in more than 11 years for March as proprietors worried that inflation is still very much a problem. A quarter of all respondents reported that rising costs were the biggest problem. "Small business optimism has reached the lowest level since 2012 as owners continue to manage numerous economic headwinds," NFIB Chief Economist Bill Dunkelberg said. "Inflation has once again been reported as the top business problem on Main Street and the labor market has only eased slightly." A quarter of all respondents cited inflation, and in particular higher input and labor costs, as their most pressing issue.
Persons: Bill Dunkelberg Organizations: Costco Wholesale, National Federation of Independent Business, The Labor Department Locations: Colchester , Vermont
Gold has turned into money for Costco , where yellow metal sales begun last year have turned into a cash cow for the big-box retailer. In fact, sales are so brisk that analysts at Wells Fargo expect revenue "may now be running at" $100 million to $200 million a month, a rapid acceleration since bullion hit the warehouse club late in the summer of 2023. "The accelerating frequency of Reddit posts, quick on-line sell-outs of product, and COST's robust monthly eComm sales suggests a sharp uptick in momentum since the launch." Costco is selling 1-ounce bars made of nearly pure 24-karat gold. The government is on pace for a $2 trillion deficit this year, adding to a total debt load that has surpassed $34.6 trillion.
Persons: Gold, Edward Kelly Organizations: Costco Locations: Wells
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