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☆ Stock Market Today: Dow Rallies 400 Points After Fed Pauses Rate Hikes
▼ + stars: | 2023-06-15 | by ( ) www.wsj.com time to read: +2 min

U.S. stocks finished higher Thursday, lifted by gains across everything from shares of manufacturers to oil producers. The three main U.S. indexes were in the green, each rising more than 1% apiece, with the blue-chip Dow industrials up more than 400 points. The benchmark 10-year yield settled at 3.727%, from 3.796% late Wednesday, while the two-year yield was at 4.648%, from 4.707%. The market for IPOs has been slow lately, but shares of Mediterranean-style restaurant company Cava Group jumped on their first day of trading Thursday. Japan's currency fell against the dollar, trading at its weakest level since November, as traders cited concerns over Japan's ultra-loose monetary policy.

Persons: Dow, Estee Lauder, Kroger Organizations: Investors, Federal Reserve, Treasury, Analysts, Target, European Central Bank Locations: U.S, IPOs, Beijing, Europe

☆ Stocks making the biggest moves midday: Cava, Domino's Pizza, Kroger, Lennar and more
▼ + stars: | 2023-06-15 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

The Wall Street firm said it believes there will be "significant improvement" in the company's return on invested capital over the next two to three years. Domino's Pizza — The pizza chain gained 6.46% after Stifel upgraded the stock to buy from hold. The Wall Street firm said investors should buy the weakness in Target shares, which are down 15% over the past month. The Wall Street firm said it was bullish long term, but believes the stock price has been seeing appreciation much stronger than experienced in the broader market. The Wall Street firm also boosted its price target to $40 from $36, suggesting upside of more than 20% from Wednesday's close.

Persons: Kroger —, Kroger, Rodney McMullen, Bernstein, Lennar, Oppenheimer, Corning, John Wiley, Mizuho, Patterson, Morgan Stanley, Yun Li, Alex Harring, Jesse Pound, Sarah Min Organizations: New York Stock Exchange, Cava Group, Deutsche Bank, Stifel, —, Technologies, Corning —, Citi, Corning, Management, UTI Energy, Patterson Locations: Wednesday's

☆ Shoppers on food stamps are buying less and going to food banks as benefits drop
▼ + stars: | 2023-06-15 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +2 min

New York CNN —Kroger and other chains say customers on food assistance programs like SNAP are struggling as aid shrinks. “Budget-conscious households are buying fewer items, particularly as SNAP benefits declined during the quarter,” said Kroger (KR) CEO Rodney McMullen on an earnings call Thursday. Customers are “making significant modifications” such as buying a four-pack of an item instead of a 12-pack. The decrease came with the end of a Covid emergency policy that increased SNAP benefits to the maximum level for every recipient. Dollar Genera (DG)l, Dollar Tree (DLTR), Walmart (WMT) and other chains have also said recently that customers on food stamps are struggling most.

Persons: New York CNN — Kroger, ”, Kroger, Rodney McMullen, Jeffrey Owen, ” Owen Organizations: New, New York CNN, SNAP, KR, “, Budget, Walmart, Dollar, Bureau of Labor Statistics ’ Locations: New York, Washington, DC

☆ Stock futures are little changed after Fed skips rate hike but indicates more ahead: Live updates
▼ + stars: | 2023-06-14 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

U.S. stock futures were roughly flat after the Federal Reserve skipped a rate hike at its meeting that ended Wednesday, but signaled two more rate hikes may still be in store later this year. Dow Jones Industrial Average futures rose by 2 points, or 0.01%. S&P 500 and Nasdaq-100 futures climbed 0.07% and 0.11%, respectively. Earlier Wednesday, the broad market index and the Nasdaq Composite both reached their highest levels since April 2022. Kroger, Jabil and John Wiley are scheduled to announce earnings Thursday morning, with Adobe reporting after the close.

Persons: Jerome Powell, Chris Zaccarelli, Marty Green, Jabil, John Wiley Organizations: Federal Reserve, Dow Jones Industrial, Nasdaq, Dow Jones, Federal, Independent, Alliance, Fed, Philadelphia, Kroger, Adobe

☆ Uber is going toe-to-toe with Instacart in a bet that delivering groceries can cut healthcare costs by billions
▼ + stars: | 2023-06-14 | by ( Lydia Ramsey Pflanzer | ) www.businessinsider.com time to read: +4 min

Uber is adding groceries and over-the-counter medical items to its Uber Health services. Uber on Tuesday said that it plans to work with health plans and providers to prescribe food as medicine. Instacart in March launched digital tools to allow doctors to prescribe food the way they might prescribe a medication. Caitlin Donovan, global head of Uber Health Uber HealthHealthier eating members could have major financial implications for insurers. "When you combine demand for healthcare services with the core competencies of Uber with the ability to do good, I think that's a very powerful confirmation that speaks to why Uber Health is part of Uber," Donovan said.

Persons: Uber, Andreessen Horowitz, Caitlin Donovan, Donovan, It's, Dara Khosrowshahi, Leigh Vogel, Uber's Organizations: Uber Health, Instacart, Kroger, Health, Getty, Uber

☆ Here are 'anti-inflation' stocks that outperform as prices ease
▼ + stars: | 2023-06-13 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Inflation continued to slow in May, and the stocks that have benefited from easing prices could continue to enjoy the boost. The inflation rate cooled in May to its lowest annual rate in about two years, with the consumer price index increasing just 0.1% for the month. A slew of stocks have historically tracked the opposite direction of rising prices, and they should continue to outperform the market as inflation cools, according to Bank of America analysis. The Wall Street firm created an "Anti-Inflation" screen with S & P 500 companies whose relative performance has a strong negative relationship — or beta — with inflation. Bank of America's screen also included other consumer discretionary names such as O'Reilly Automotive , Ross Stores , Home Depot and Lowe's .

Organizations: Bank of America, Bank of, O'Reilly Automotive, Ross Stores, Kroger

☆ Data giant Snowflake is building a marketplace for retail media data
▼ + stars: | 2023-06-12 | by ( Ryan Joe | ) www.businessinsider.com time to read: +4 min

Data giant Snowflake is building a marketplace for retail media data. Data giant Snowflake is building a marketplace for retail media data as it tries to grab a bigger piece of the $80 billion retail media market. Investing in retail media is a top priority for Snowflake, said Rosemary DeAragon, the company's global head of retail and CPG. There's sharp competition in the ad industry to grab as much retail media share as possible, while the market is still relatively nascent. While tech giants like Amazon and Google have their own clean room offerings, they don't field a retail media data marketplace.

Persons: Snowflake, Chase cardmembers, Rosemary DeAragon, Myles Younger, Damian Garbaccio, who've, haven't, Morgan Stanley, Criteo, Shiv Gupta Organizations: Affinity Solutions, Affinity, IRI, Nielsen, Walmart, Google, Amazon Locations: Snowflake

☆ The S&P climbs into bull market territory, with the Fed back in focus next week
▼ + stars: | 2023-06-10 | by ( Zev Fima | ) www.cnbc.com time to read: +3 min

This past week proved be another win for the bulls, as the market rally broadened out beyond the big players in the tech sector. The S & P 500 is officially in bull market territory, closing up over 20% from its October 2022 low. ET: Federal Open Market Committee Meeting After the bell: Lennar (LEN) Thursday, June 15 8:30 a.m. On Thursday, initial jobless claims increased by 28,000 for the week ending June 3, to 261,000, well above the 235,000 expected by the market. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: we'll, LEN, Jabil, Jim Cramer's, Friday's, Jim Cramer, Jim, Spencer Platt Organizations: Federal Reserve, CPI, PPI, Kroger, KR, Micro Devices, Jim Cramer's Charitable, AMD, U.S, West Texas, Treasury, CNBC, Street Bull, Financial, Getty Locations: U.S, New York City

☆ New Mexico and Walgreens reach $500 million opioid settlement
▼ + stars: | 2023-06-10 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +2 min

New York CNN —New Mexico reached a $500 settlement agreement with Walgreens over the pharmaceutical giant’s role in the opioid epidemic, lawyers for the state said Friday. Last fall, the state obtained another $274 million in settlements from Albertsons, CVS, Kroger, and Walmart, the lawyers said. The addition of the Walgreens settlement brings the total to $1 billion brought into the state through opioid litigation. “No amount of money will bring back the lives lost and ruined because of the over-prescription of prescription opioids,” New Mexico attorney Luis Robles said. In May, Walgreens and San Francisco reached a $230 million settlement over the opioid crisis.

Persons: Luis Robles, “, Walgreens, ”, Dan Albertstone, Kroger Organizations: New, New York CNN, Walgreens, CVS, Kroger, Walmart Locations: New York, Mexico, New Mexico, Albertsons, State, San Francisco, West Virginia

☆ Wall Street is placing its bets for a big Fed meeting and inflation reports
▼ + stars: | 2023-06-09 | by ( Scott Schnipper | ) www.cnbc.com time to read: +6 min

The betting is also that the latest inflation reading for May that will be reported Tuesday, just as the two-day Fed meeting gets underway, will show additional progress in the fight against higher prices. Those views have helped power a broader stock market rally on Wall Street this month. In fact, the combination of the narrow stock market rally in 2023, until this month at least, plus the low VIX reading, leads Demmert to expect a 10% stock market correction at some point. "The stock market at large is in overbought territory and investors are very complacent, which was the case prior to the past three major declines within this 18-month bear market. Between the June and September meetings, the Fed would get three more inflation and three more payrolls reports.

Persons: Russell, Scott Ladner, Ladner, James Demmert, that's, Demmert, Jerome Powell's, Paul Ashworth, Ashworth, Jerome Powell, John Wiley, CNBC's Hakyung Kim, Michael Bloom, Jeff Cox Organizations: Fed, CME Group, CPI, Horizon Investments, Street Research, Investors, North, Capital Economics, Capital, UBS, Federal, Philadelphia Fed, Adobe, University of Michigan Locations: Charlotte , North Carolina, SPX, downtrends, North America

☆ Cramer says don't be complacent ahead of Fed meeting: 'I do not trust a benign market like this one'
▼ + stars: | 2023-06-09 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

"No surprise to regular viewers, I do not trust a benign market like this one," Cramer said. On Monday, Cramer will be watching out for software company Oracle 's report, which is expected after market's close. Cramer asked, "Because they don't want to lose those low mortgages they got over the last five years." Wednesday will bring news from the Fed, and Cramer isn't convinced Chairman Jay Powell has completely lost his hawkish streak. Friday will hopefully bring investors more clearly into the minds of consumers, Cramer said, with the release of the University of Michigan Consumer Sentiment index.

Persons: CNBC's Jim Cramer, Cramer, market's, Cramer isn't, Jay Powell, Lina Khan, we've, —, Wall Organizations: Oracle, Kroger, Albertsons, Federal Trade, University of Michigan, Fed Locations: Florida

☆ Everyone is getting less productive, and that's a big problem for the economy
▼ + stars: | 2023-06-06 | by ( Joe Ciolli | ) www.businessinsider.com time to read: +5 min

Even though the economy feels largely fine right now, such a decline has been a leading indicator of past recessions. Labor productivity has fallen for five straight quarters on a year-over-year basis, the longest such streak on record. Productivity is important to the economy because it's the primary input for a population's standard of living. As Insider reported in March, major retailers like Walmart, Target, and Kroger are locked in a labor-hoarding war over hourly employees that's pushed pay higher. In the meantime, the decline in productivity is setting off alarm bells for the economy.

Persons: —, Taylor Swift, they're, Larry Summers, Summers, Mark Zuckerberg, Marc Benioff, OpenAI's, there's, It's, Paul Tudor Jones, Ed Yardeni, Goldman Sachs Organizations: Service, Airlines, Bureau of Labor Statistics, Labor, Washington Post, Walmart, Target, Kroger, Stanford, MIT, Fortune, Brookings Institute

☆ The Banking & Payments Show Recap: Apple Pay's Sweet Domination
▼ + stars: | 2023-06-01 | by ( Insider Intelligence | ) www.businessinsider.com time to read: +1 min

Listen to the full Behind The Numbers: The Banking & Payments Show episode here. With Kroger caving to accept Apple Pay, Rob and David discussed Walmart and if/when they will fall. Apart from its history, Walmart has ramped up its own Fintech operations which include neobanking aspirations and Walmart Pay. Want to learn more about the domination of Apple Pay and Gen Z's impact? Listen to the full Behind The Numbers: The Banking & Payments Show episode here.

Persons: Rob Rubin, David Morris, Rob, David, Gen, Apple, Zer's Organizations: Intelligence, Apple, Kroger, Walmart, Google, PayPal, Apple Pay Locations: EU

☆ How the 'water bed effect' is costing you at the grocery store
▼ + stars: | 2023-05-30 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

But that habit creates a "water bed effect," putting pressure on small grocers, an NYT opinion says. For the food industry, the consequences of the water bed effect have included consolidation and less competition, Mitchell wrote. Walmart commanded about one-quarter of US grocery sales in 2021, according to Euromonitor. The subject of grocery consolidation was a concern to small grocers before the most recent merger proposal. Independent grocers represent up to one-third of US grocery sales, according to a 2021 estimate from the National Grocers Association.

☆ Why Inflation Is the Excuse for Higher Grocery Prices - The New York Times
▼ + stars: | 2023-05-29 | by ( Stacy Mitchell | ) www.nytimes.com time to read: +2 min

Food Fresh is the only grocery store in a rural stretch of southeastern Georgia. Big retailers like Walmart and Kroger “have a handle on suppliers that I can’t touch,” said Food Fresh’s owner, Michael Gay. The chains wrest deep discounts from suppliers, making it impossible for the store to come close to matching their prices. To understand why grocery prices are way up, we need to look past the headlines about inflation and reconsider long-held ideas about the benefits of corporate bigness. Major grocery suppliers, including Kraft Heinz, General Mills and Clorox, rely on Walmart for more than 20 percent of their sales.

☆ ‘Greedflation’ loosens its grip on food retailers
▼ + stars: | 2023-05-24 | by ( Aimee Donnellan | ) www.reuters.com time to read: +4 min

Big food manufacturers like Kraft Heinz (KHC.O) and Unilever (ULVR.L) are ratcheting down the price rises they have been inflicting onto supermarket chains. If food retailers can convince cash-strapped customers to skimp less and pay more, their profit margins will finally start growing. Last week, the country’s food retailers opened negotiations on prices with manufacturers like Coca-Cola (KO.N) and Unilever as food inflation surged to over 15% in March. Food manufacturers can certainly do more. Meanwhile, food inflation remained high at 19.1% in April versus 19.2% in March.

☆ Amazon is abandoning several of its Fresh stores and seeking tenants to sublease them and one landlord is suing over rent
▼ + stars: | 2023-05-19 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

Amazon is trying to sublease several planned Amazon Fresh stores in the Midwest. Amazon has opened fewer Fresh stores for months, but grocery remains a priority for the company. Amazon is also facing a lawsuit from its landlord at a planned Amazon Fresh location in Philadelphia, according to the Philadelphia Business Journal. Amazon has been slowing the pace of new Amazon Fresh store openings for the better part of a year. Do you work at an Amazon Fresh store and have a story idea to share?

☆ Walmart lifts annual sales, profit view on resilient consumer spending
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: +2 min

May 18 (Reuters) - Walmart Inc (WMT.N) raised its annual sales and profit targets on Thursday as the retail behemoth drew from price-conscious shoppers trading down to cheaper groceries, easing worries of softening consumer spending due to inflation. Shares of the top U.S. retailer rose about 2.6% as it also reported better-than-expected results for the first quarter. The strong results are a stark contrast to smaller rival Target's bleak second-quarter forecast, which it blamed on weak consumer demand. Walmart forecast second-quarter results above expectations. "We leveraged expenses, expanded operating margin, and grew profit ahead of sales," CEO Doug McMillon said.

☆ From Kroger to Walmart, these are the top 10 most popular grocery chains in America
▼ + stars: | 2023-05-18 | by ( Nicolas Vega | ) www.cnbc.com time to read: +1 min

Indeed, restaurant prices have risen faster than grocery prices over the last year, according to data from the Department of Labor. To rank the grocers, Placer.ai measured the "visit share" each retailer received in April. "Visit share" is the percentage of total visits that a retailer received during a given time frame compared to the other retailers also being analyzed. Kroger, with its more than 1200 locations in 16 states, was the top visited supermarket chain in the country, capturing 9.1% of the visit share in April. These are the 10 most popular supermarket chains in the country.

☆ Here's why retailers are staying upbeat about the year despite cautious views on this quarter
▼ + stars: | 2023-05-18 | by ( Robert Hum | ) www.cnbc.com time to read: +3 min

Retailers continue to post better-than-expected earnings in the latest quarter – with Walmart , Bath & Body Works and Canada Goose topping estimates. Bath & Body Works' guidance is lacking , too, at 27 cents to 32 cents per share after adjustments versus the 32 cents estimate. Bath & Body Works also raised its earnings guidance and reaffirmed its full-year forecast. Bath & Body Works highlighted better merchandise margin and benefits from cost savings initiatives. BBWI YTD mountain Bath & Body Works shares soared more than 7% after its earnings report.

☆ Trader Joe’s reveals why it still refuses to offer grocery pickup or delivery, even as fans beg the chain for online options
▼ + stars: | 2023-05-18 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

Trader Joe's has avoided offering delivery or pick-up orders for decades. According to an episode of Trader Joe's podcast, released on Monday: A combination of cost and company culture. Trader Joe's shoppers have been asking for the chain to provide delivery for years. Walmart has also expanded its grocery delivery capabilities, hiring drivers and offering unlimited deliveries for members of its own subscription program. Avoiding delivery and pick-up is just one way that Trader Joe's has kept its costs low.

[1/3] Packaged food for sale is seen on shelves at a Dollar Tree in Islandia, New York, U.S., May 12, 2023. Razor manufacturer Edgewell Personal Care Co (EPC.N) and Kraft Heinz Co (KHC.O) have overhauled or built new teams dedicated to working with the biggest U.S. dollar stores like Dollar Tree Inc (DLTR.O) and Dollar General Corp (DG.N) in the last year. Makers of food and household staples are pushing deeper into dollar stores because the low-cost retailers are opening thousands of locations each year. Griffin added that dollar stores are also introducing more "premium" private label brands, like Dollar General's Nature's Menu for pets. Kraft-Heinz also created a new team of five people late last year to identify and develop products for dollar stores, a spokesman said.

☆ Target wants shoppers to think of it for groceries as retailer braces for leaner spending
▼ + stars: | 2023-05-16 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +6 min

The big-box retailer also hopes by drawing shoppers for essentials like gallons of milk, it can nudge purchases of discretionary items that shoppers otherwise would not have bought. A 'Tarzhay' spin on groceriesOn a recent trip to a Minneapolis area grocery store, Gomez surveyed displays of colorful fruits and vegetables. In each of the past two fiscal years, Target has had double-digit sales growth in the food and beverage category. Target's grocery sales matter more as shoppers pull back in other areas. Grocery competition gets tougherCompetition for grocery shoppers has heated up, especially as consumers stretch their budgets.

☆ Here's why Trader Joe's will never embrace online shopping: 'The experience would not be the same'
▼ + stars: | 2023-05-16 | by ( Nicolas Vega | ) www.cnbc.com time to read: +1 min

Don't expect to be able to order a block of Trader Joe's Unexpected Cheddar or a bag of Chili & Lime rolled corn chips to your door any time soon. The latest episode of the popular supermarket's in-house podcast, "Inside Trader Joe's," explains why the chain doesn't offer online shopping like competitors Aldi, Publix and Kroger, and is instead happy to keep running its business the way it has since it was founded in 1967. Building out a robust delivery operation would involve creating a network of warehouses to store products, as well as a delivery system to get those products to customers' doors. For a brand that closely watches its bottom line to keep prices low, it's a non-starter. "We love being a real place for a whole bunch of reasons and not just because it's where we started," co-host Matt Sloan said.

☆ Trader Joe's long-time CEO and the brains behind the 19-cent banana announces his retirement
▼ + stars: | 2023-05-15 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

Trader Joe's CEO Dan Bane will retire in July, the grocery store chain said on Monday. "I take great pride that together we have made Trader Joe's the best grocery store in America," Bane said, according to Trader Joe's. With Bane's retirement will come the promotion of Bryan Palbaum to Chairman and CEO and Jon Basalone to Vice CEO, Trader Joe's said. Under Bane, Trader Joe's stuck to a leaner operating strategy than most other US grocery stores. California-based Trader Joe's is owned by the same family who owns Aldi Nord, a German chain of discount grocery stores.

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