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☆ Treasury yields move lower ahead of key consumer inflation report
▼ + stars: | 2024-09-11 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +1 min

The yield on the 10-year Treasury was nearly 2 basis points lower at 3.625%, with the 2-year Treasury yield down 2 basis points at 3.586%. Treasury yields dipped on Wednesday as investors awaited the release of U.S. inflation data for clues on the size of a potential interest rate cut from the Federal Reserve next week. The reports come ahead of the Fed's Sept 17-18 meeting, with traders widely expecting a rate cut. Others have described such a move as one that would be "very dangerous" for markets, pushing instead for the Fed to deliver a quarter-point rate cut instead. Traders are currently pricing in a 67% chance of a 25-basis-point rate cut, with 33% expecting a 50-basis-point rate reduction, according to the CME Group's FedWatch Tool.

Organizations: Treasury, Federal Reserve, Fed Locations: U.S

☆ Small caps are outperforming large caps. How to use charts to find buy candidates in the group
▼ + stars: | 2024-09-10 | by ( Todd Gordon | ) www.cnbc.com time to read: +5 min

Then on July 11, things really got started as June CPI came in below expectations and the outlook for the first Fed rate cut became significantly more likely. Let's drill down into the sectors that makeup the Russell 2000 to see who's leading and lagging since that July 5th turning point. Let's find out who is actually profitable and could maintain the rally after the initial shine of a fresh rate cut wears off. Where to look in small caps A big component of the Russell 2000 based on market capitalization representation is health care at 18.7%. Should the Fed strike a dovish tone after the first rate cut I will be shopping for quality names.

Persons: Russell, Piper Sandler, Hamilton Lane, Jefferies, JEF, Todd Gordon, Gordon, ARES Organizations: Nasdaq, Inside Edge, CNBC PRO, Ares Management, Fed, CNBC, NBC UNIVERSAL Locations: financials

☆ U.S. safety regulator calls for probe of Temu, Shein over 'deadly baby and toddler products'
▼ + stars: | 2024-09-04 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +3 min

Two U.S. Consumer Product Safety Commission members are urging the agency to probe safety practices of "foreign-owned" e-commerce platforms such as Shein and Temu, specifically the alleged sale of "deadly baby and toddler products." "Our interests are aligned with the U.S. Consumer Product Safety Commission (CPSC) in ensuring consumer protection and product safety, and we will cooperate fully with any investigation," the Temu spokesperson said. CPSC officials have asked for more funding to hire staffers to monitor emerging e-commerce platforms such as Temu and Shein over safety practices, according to The Information. Last April, a congressional commission released a report detailing issues with Shein, Temu and other "Chinese 'fast fashion' platforms.'" They alleged the sites have numerous product safety hazards, are connected to the use of forced labor and are exploiting trade loopholes, among other concerns.

Persons: Peter Feldman, Douglas Dziak, Temu, Shein Organizations: U.S, Consumer Product Safety, U.S . Consumer Product Safety, Discount, Google, PDD Holdings, Amazon, CNBC Locations: U.S, China

☆ Care.com reaches $8.5 million FTC settlement over job listings, renewals
▼ + stars: | 2024-08-26 | by ( ) www.cnbc.com time to read: +2 min

It followed tens of thousands of complaints from Care.com customers, including many who thought they canceled memberships but were billed again. The FTC said Care.com enticed customers to buy auto-renewing memberships by overstating the number of jobs, or "gigs," on its platform and how much people could earn from them. It said Care.com knew or should have known a significant number of the jobs were unlikely to result in employment. About 2.9 million U.S. consumers bought Care.com auto-renewing memberships between January 2019 and March 2022. "Care.com used inflated job numbers and baseless earnings claims to lure caregivers onto its platform, and used deceptive design practices to trap consumers in subscriptions," FTC consumer protection chief Samuel Levine said.

Persons: Care.com, Samuel Levine Organizations: Federal Trade Commission, IAC Inc, FTC, Austin Locations: Care.com, Waltham , Massachusetts, Austin , Texas

☆ Nvidia will be in the spotlight next week as Wall Street wraps up a tumultuous August
▼ + stars: | 2024-08-23 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

NVDA YTD mountain Nvidia Wall Street is bullish heading into Nvidia's earnings results next week, figuring any hiccups to its next generation AI chips does little to dim the earnings potential of a company that essentially has a monopoly on the market. Economists polled by FactSet anticipate PCE to show increases of 0.2% month on month and 2.6% from the year-earlier period. Wall Street anticipates that stocks could go higher from here, though the road from now to the end of the year could be bumpy. Other notable earnings results include tech names Salesforce and CrowdStrike, as well as consumer names such as Campbell Soup, Dollar General and Ulta Beauty. Earnings: Nvidia , Bath & Body Works , J. M. Smucker , Salesforce , CrowdStrike , NetApp , HP Thursday Aug. 29 8:30 a.m.

Persons: Nvidia's, chipmaker, they've, Harsh Kumar, Piper Sandler, Blackwell, Jensen Huang, Jim Cramer, Kumar, Louis Navellier, Jerome Powell, Jackson, Powell, FactSet, David Miller, Miller, Kamala Harris, Donald Trump, He's, Campbell, Lululemon Organizations: Nvidia, Blackwell, Navellier, Associates, Federal Reserve, PCE, Nasdaq, Dow Jones, U.S, Catalyst Funds, Ulta, Dallas Fed, Richmond Fed, Body, HP, Autodesk, PCE Deflator, Chicago PMI Locations: Russia, Ukraine, Chicago, Michigan

☆ Wyoming is pushing crypto payments and trying to beat the Fed to a digital dollar
▼ + stars: | 2024-08-23 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +5 min

As crypto investing becomes more mainstream and institutionalized with bitcoin ETFs, Wyoming is already pushing into the next phase of growth for crypto: consumer payments. The visionWyoming is currently vetting potential partners and vendors with more tech expertise to help build the stable token. From there, it should be just another payment method for everyday things, said Flavia Naves, a commissioner at the Wyoming Stable Token Commission. "This is a public token as well so as with any public service, all the information is available." The commission invites the public virtually to its meetings on the stable token and posts the minutes to its website afterward.

Persons: Long, Gordon, Washington's, Mark Gordon, it's, Flavia, we've Organizations: CNBC, treasuries, Treasurys, State, U.S ., Treasury, Federal Reserve, Atlantic Council Locations: United States, Wyoming, Jackson, Jackson , Wyoming, Solana

☆ Consumer spending jumped in July as retail sales were up 1%, much better than expected
▼ + stars: | 2024-08-15 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

watch nowConsumer spending held up even better than expected in July as inflation pressures showed more signs of easing, the Commerce Department reported Thursday. Advanced retail sales accelerated 1% on the month, according to numbers that are adjusted for seasonality but not inflation. Excluding auto-related items, sales increased 0.4%, also better than the 0.1% forecast. Miscellaneous retailers saw a plunge of 2.5% while gas stations saw receipts climb just 0.1% and clothing stores were down 0.1%. There was one counterpoint to that in another data release Thursday in which the Labor Department said import prices increased 0.1% in July, slightly ahead of the forecast for no change.

Persons: Dow Jones, Richard de Chazal, William Blair Organizations: Commerce Department, Stock, Labor Department

☆ Dollar droops after benign inflation data; kiwi firm before RBNZ decision
▼ + stars: | 2024-08-14 | by ( ) www.cnbc.com time to read: +3 min

The dollar remained on the back foot on Wednesday after tumbling versus major peers overnight as a benign reading for U.S. producer prices reinforced bets on Federal Reserve interest rate cuts this year. Risk-sensitive currencies stayed strong after the unexpected softening in inflation buoyed equities, even with crucial U.S. consumer price index figures still looming later on Wednesday. New Zealand's dollar hovered near a four-week high ahead of a Reserve Bank of New Zealand policy decision, with markets split over the potential for a rate cut. The dollar was stable at 147.06 yen as it continued to consolidate around the 147 level this week. The kiwi edged up 0.07% to $0.6081, close to Tuesday's high of $0.60815, a level last seen on July 18.

Persons: CME's, Carol Kong, Sterling, Tony Sycamore Organizations: Australian, New, Reserve Bank of New, Traders, Federal, Commonwealth Bank of Australia, U.S, CPI, CBA, IG Locations: Reserve Bank of New Zealand

☆ Gold prices inch lower as U.S. inflation data looms
▼ + stars: | 2024-08-14 | by ( ) www.cnbc.com time to read: +2 min

Gold prices edged lower on Wednesday as investors remained on the sidelines ahead of a key U.S. inflation print later in the day that could set the tone for the Federal Reserve's September policy meeting. Gold prices edged lower on Wednesday as investors remained on the sidelines ahead of a key U.S. inflation print later in the day that could set the tone for the Federal Reserve's September policy meeting. Data on Tuesday showed that U.S. producer prices increased less than expected in July, reinforcing market view that cooling inflation will allow the Federal Reserve to cut interest rates soon. Atlanta Fed President Raphael Bostic said he wants to see "a little more data" before he's ready to support lowering interest rates. Gold, often used as a hedge against geopolitical risks, thrives when interest rates are low.

Persons: Kyle Rodda, Raphael Bostic, Ismail Haniyeh Organizations: Federal, Fed, Federal Reserve, Traders, Atlanta Fed, Investors Locations: U.S, Iran, Gaza, Israel

☆ 'Plenty of reasons to worry': A former IMF official shares 5 reasons the chances of a recession are 'very high' — and warns the Fed should have cut rates already
▼ + stars: | 2024-08-13 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

Desmond Lachman, a former IMF deputy director, says there are "plenty of reasons to worry" about the US economy in the months ahead. Another risk is the prospect of a second Trump presidency, given his proposed policies around tariffs and taxes, Lachman said. Advertisement"There are a huge number of risks," Lachman said. "The Fed could cut interest rates midmeeting but that would be because the sky was falling. But if the sky is not falling, the Fed doesn't want to give the impression that the sky is falling," Lachman said.

Persons: Desmond Lachman, Lachman —, Lachman, Trump, —, France Organizations: Service, Business, Lachman, American Enterprise Institute, AEI, Trump, EU Locations: China, Israel, Gaza, Lebanon, Palestine, Iran, France, Italy, Europe

☆ Oil prices ease as markets refocus on demand worries
▼ + stars: | 2024-08-13 | by ( ) www.cnbc.com time to read: +2 min

Oil prices edged lower on Tuesday, breaking a five-day streak of gains, as markets refocused on concerns about demand after OPEC on Monday cut its forecast for demand growth in 2024 due to softer expectations in China. Oil prices edged lower on Tuesday, breaking a five-day streak of gains, as markets refocused on concerns about demand after OPEC on Monday cut its forecast for demand growth in 2024 due to softer expectations in China. Global benchmark Brent crude futures dipped 41 cents, or 0.5%, lower to $81.89 a barrel at 0005 GMT. U.S. West Texas Intermediate crude futures fell to $79.63 a barrel, down 43 cents, or 0.5%. Brent had gained more than 3% on Monday, while U.S. crude futures had risen more than 4%.

Persons: Brent, John Kirby, CME's Organizations: Brent, . West Texas, of, Petroleum, White House, Wednesday's, U.S Locations: China, Iran, United States

☆ 3 data points that could impact how big of a Fed rate cut the market gets next month
▼ + stars: | 2024-08-13 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

Management blamed "higher interest rates and greater macroeconomic uncertainty" for pressuring consumer spending on home improvement projects. The recent data certainly supports the idea of a rate cut at the Fed's mid-September meeting. However, that's weeks away, we know things can turn on a dime in the data and the stock market. Lower rates can certainly impact the stock market — but when it comes to picking individual stocks, we remain focused on earnings. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Thursday's, Stanley Black, Decker, Stifel, bode, Russell, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Nasdaq, PPI, Management, Dow, Home Depot, Trade, Costco, Depot, CNBC, New York Stock Exchange, Getty Locations: U.S, New York City

☆ Treasury yields rise as attention turns to inflation data
▼ + stars: | 2024-08-12 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury was up by more than two basis points to 3.9647%. U.S. Treasury yields were higher on Monday as investors looked ahead to the latest inflation prints and other key economic data slated for the week. Amid continued uncertainty about the state of the U.S. economy, investors looked ahead to fresh inflation data due this week. When the Fed met last month, it left rates unchanged, but hinted that a September rate cut was on the table, depending on signals from economic data, both on the inflation and labor market front. Markets are pricing in a 100% chance of a rate cut from the Fed in September, but traders were last split on the size of the cut, CME Group's FedWatch tool showed.

Organizations: Treasury, U.S, Federal, Fed Locations: U.S

☆ 401(k) rollover advice rule is at risk. Here's what retirement savers need to know
▼ + stars: | 2024-08-12 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

Two federal district courts in Texas issued a national "stay" of the regulation, in separate rulings in July. The rule will "create a level playing field" for all trusted investment professionals, according to a Labor Department spokesperson. "The insurance industry can continue to advise investors and sell annuities, without giving advice that is imprudent, disloyal, or tainted by misrepresentations or overcharges," the spokesperson said. Current retirement rollover advice rules stay in effectIn the meantime, the current status quo remains in effect, attorneys said. Current rules let brokers give investment advice that earns them a higher commission but isn't in savers' best interests, the Labor Department said during the rulemaking process.

Persons: Julie Su, Chip Somodevilla, Fred Reish, Drinker Biddle, didn't Organizations: Getty, U.S, Northern, Northern District of, American, of, United States Department of Labor, Americans, Consumer Choice, Department of Labor, Labor Department, Department of Justice, Biden, National Association of Insurance, Financial Advisors, National Association Locations: Texas, Northern District, Northern District of Texas, ACLI, NAIFA, Dallas, Fort Worth

☆ Gold subdued as investors focus on U.S. inflation data
▼ + stars: | 2024-08-12 | by ( ) www.cnbc.com time to read: +1 min

Gold prices struggled for momentum on Monday as investors looked forward to a key inflation report that could shed more light on the U.S. central bank's next policy move. Spot gold eased 0.13% to $2,427.86 per ounce by 0352 GMT, trading in a narrow $10 price range. The U.S. consumer price index data, due on Wednesday, is expected to show that headline and core prices rose 0.2% month-on-month. "Further inflation progress reflected in the upcoming CPI data could see gold eye for a retest of its all-time high once more," said IG market strategist Yeap Jun Rong. Among other metals, spot silver fell 0.3% to $27.36 per ounce, platinum shed 0.47% to $917.83 and palladium fell 0.2% to $903.48.

Persons: Ilya Spivak, Yeap Jun Rong, Michelle Bowman Organizations: Metals, U.S, Federal, Hamas Locations: Krasnoyarsk, Russia, bank's, U.S, Gaza

☆ Stock futures are little changed ahead of key inflation and retail data: Live updates
▼ + stars: | 2024-08-11 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

U.S. equity futures fell on Sunday evening as investors braced for key inflation data, after almost completely reversing its violent market rout last week. S&P 500 futures dipped 0.08% and Nasdaq 100 futures inched lower by 0.05%. Fear often works in our favor as stock market investors. "Another round of good [inflation] data could help calm fears that the Fed is potentially losing the plot," Cox said. "Retail sales and retailer earnings may show that fears of a job market slowdown are overblown," she added.

Persons: Callie Cox, they'll, Cox Organizations: Dow Jones, Nasdaq, Dow, Ritholtz Wealth Management, CNBC, Walmart

☆ After a busy week of stock trades, we're looking ahead to some key inflation data
▼ + stars: | 2024-08-11 | by ( Morgan Chittum | ) www.cnbc.com time to read: +5 min

Looking back, quarterly earnings also played a key role in big stock moves for the portfolio. Looking ahead, we'll see an update on some key inflation data, plus a closer look at the state of the housing and retail sectors. ET: Producer Price Index Earnings: Home Depot (HD), Pandora (PANDY), Nu Holdings (NU), Sea Limited (SE) Wednesday, August 14 8:30 a.m. ET: Consumer Price Index Earnings: Tencent Holdings (TCEHY), Cisco (CSCO), UBS (UBS), JD.com (JD) Thursday, August 15 8:30 a.m. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Eli Lilly, Walt, Jim Cramer, we've, JD.com, Jim Cramer's, Jim, Spencer Platt Organizations: Dow Jones, Dow, Nasdaq, Walt Disney, Microsoft, Ford Motor, Wynn Resorts, DuPont, Devices, Procter, Gamble, Club, Abbott Laboratories, Federal, Traders, Sun Life, Nu Holdings, Sea, Tencent Holdings, Cisco, UBS, Philadelphia Fed, Walmart, Materials, Deere & Co, Ross Stores, Lenovo, Housing, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Getty Locations: U.S, Dover, Wells Fargo, Nextracker, Eaton

☆ Recession Fears Are Fueling Stock Market Crash, Wall Street Chaos
▼ + stars: | 2024-08-11 | by ( Linette Lopez | ) www.businessinsider.com time to read: +11 min

While there was some demand for protection against the prospect of volatility reemerging, overall sentiment across Wall Street had gotten more bullish. Until Wall Street can be sure that the consumer will hold on (or not), conviction is easily shaken. After years of weird times and outsize gains, Wall Street is dancing on a knife's edge. After years of weird times and outsize gains, Wall Street is dancing on a knife's edge. What happened on Monday was a sudden realization that the new structure may assert itself before Wall Street imagined it would.

Persons: —, Jerome Powell, we've, they'd, corporates, Dow, Mandy Xu, Cboe's, Wall, Torsten Slok, Slok, Shake, Kevin Gordon, Charles Schwab, they've Organizations: Dow Jones, Bank of Japan, Big Tech, Federal Reserve, Nasdaq, Wall, Apollo Global Management, Corporations, Companies Locations: Asia, Japan, Mexico

☆ Samsung recalls over 1 million electric ranges due to fire hazard
▼ + stars: | 2024-08-09 | by ( Marlene Lenthang | Marlene Lenthang Is A Breaking News Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +2 min

Samsung has issued a recall for over 1 million slide-in electric ranges due to fire hazard after the company received reports that its front knobs could be unintentionally activated by people or pets, and resulted in 250 blazes. Since 2013, Samsung received over 300 reports of the "unintentional activation" of the range's front-mounted knobs by humans or pets. Samsung is offering free knob locks or knob covers as a remedy to the issue. Further, some Samsung ranges with Wi-Fi connectivity can send users a notification via the Samsung SmartThings app to warn when a burner is activated. The company is also participating in a CPSC “Joint Gas and Electric Range Knob Working Group” along with other major brands to improve knob safety standards.

Persons: ” Organizations: Samsung, U.S . Consumer Product Safety, ” Samsung, Gas Locations: U.S, ”

☆ Wall Street will get key insight on the consumer, inflation in the week ahead as recession fears swirl
▼ + stars: | 2024-08-09 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

The wildest week of 2024 has investors bracing for more volatility in the week ahead, with key insight on the consumer and inflation coming at a time when recession fears are top of mind. Inflation, labor data Next week's inflation data could get less attention than it has over the past year when the Fed's fight against pricing pressures put inflation reports on center stage. Recently, it's been the labor market getting the most attention. "The market's caring much more about about labor markets and growth, than they do inflation right now," Ladner said. Week ahead calendar All times ET Monday, Aug. 12 2 p.m. Treasury Budget (July) Tuesday, Aug. 13 8:30 a.m. Producer Price Index (July) Earnings: Home Depot Wednesday, Aug. 14 8:30 a.m. Consumer Price Index (July) 8:30 a.m.

Persons: Scott Ladner, it's, Ladner, —, Strategas, Ryan Grabinski, RJ Assaly, Jeremy Siegel, Chen Zhao, Zhao, Price Organizations: Federal, Walmart, Home, Horizon Investments, Bank of Japan, Wharton, Fed, UBS, Investments, Treasury Budget, Price, Philadelphia Fed, Retail, Manufacturing, Materials, Tapestry, Deere, Co, Housing Locations: U.S, NAHB, Michigan

☆ Dollar gains after U.S. jobless claims fall more than expected
▼ + stars: | 2024-08-08 | by ( ) www.cnbc.com time to read: +4 min

Japanese yen banknotes of various denominations are arranged in Kawasaki, Japan, on Friday, June 23, 2023. The dollar rose on Thursday after new U.S. labor market data showed that unemployment benefits fell more than expected last week, easing fears of an imminent recession. Initial jobless claims fell to a seasonally adjusted 233,000 for the week ended Aug. 3, the Labor Department said on Thursday, suggesting fears that the labor market is unraveling were overblown. The sharp moves in the yen pushed the dollar index, which measures the U.S. currency against six others, including the yen, to a weekly high, before backing off. The Australian dollar rose 1.12% to $0.659, while the New Zealand dollar was up 0.25% at $0.601.

Persons: Shinichi Uchida, Eugene Epstein, Uchida, Marc Chandler, Jerome Powell, Vasu Menon, bitcoin, Ether Organizations: Labor Department, Bank of Japan's, Bannockburn Global Forex, U.S . Federal, Swiss, New Zealand Locations: Kawasaki, Japan, North America, Moneycorp, ., Bannockburn

☆ Disney falls on concerns about its theme park business. Here's why we'd buy the stock
▼ + stars: | 2024-08-07 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +10 min

Shares of Disney fell Wednesday as concerns about attendance at its theme parks overshadowed streaming profits and better-than-expected headline results. The combined streaming business — encompassing Disney+, Hulu and ESPN+ — turned in its first-ever quarterly profit slightly ahead of schedule. Then, about two weeks ago, CNBC parent Comcast issued weak April-to-June results for its Universal theme parks business, which weighed on Disney's stock in that session . And, at this point, getting to profitability in the combined streaming business, which adds ESPN+ into the mix, was the biggest focus. "So, I do believe the parks business is in fundamentally good shape.

Persons: LSEG, —, Jim Cramer, Jim, we're, Hugh Johnston, Johnston, Disney, Bob Iger, Jim Cramer's, Walt, Gary Hershorn Organizations: Disney, Revenue, ESPN, Comcast, Netflix, Warner Bros Discovery, Paramount Global, Hulu, CNBC, PepsiCo, Wall Street, ABC Network, Geographic, Management, Magic, Walt Disney World, Corbis, Getty Locations: U.S, India, Orlando , Florida

☆ Consumers reported losing $210 million to scams across payment apps last year. A new bill wants to help future victims get their money back.
▼ + stars: | 2024-08-07 | by ( John Towfighi | ) www.businessinsider.com time to read: +6 min

Consumers and small businesses sent $806 billion across 2.9 billion Zelle transactions in 2023, both up 28% from 2022. Consumers reported losing $210 million to scams across all payment apps in 2023, according to data from the Federal Trade Commission. The new bill aims to amend the law to make banks more liable for all financial transactions, whether they're authorized or unauthorized. AdvertisementOver 99.95% of all Zelle transactions in 2023 were completed without instances of fraud, according to Zelle. In the meantime, the Protecting Consumers from Payment Scams Act will go to the Committee on Banking, Housing, and Urban Affairs for review.

Persons: —, JPMorgan Chase, PayPal —, Maxine Waters, Sen, Richard Blumenthal, Elizabeth Warren, Waters, Zelle, Blumenthal, Wells Fargo, Wells, Cameron Fowler Organizations: Service, Bank of America, JPMorgan, Business, PayPal, Consumers, Federal Trade Commission, Rep, Homeland Security, Governmental Affairs, Investigations, Blumenthal, Services, Warning Services, SEC, Consumer Financial, Banking, Housing, Urban Affairs Locations: Zelle, Wells Fargo, jtowfighi@businessinsider.com

☆ Consumer giants from Starbucks to General Mills have one big sales problem: China
▼ + stars: | 2024-08-07 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Nurphoto | Nurphoto | Getty ImagesBEIJING — A theme emerging in the latest slew of U.S. companies' earnings reports is a drag from the China market. "Consumer sentiment in China is quite weak," McDonald's chairman, CEO and director Christopher Kempczinski, said of the quarter ended June 30. Apple said Greater China sales fell by 6.5% year-on-year in the quarter ended June 29. Procter and Gamble said China sales for the quarter ending late June fell by 9%. The only public disclosures regarding Peet's China business described it as "strong double-digit organic sales growth" in the first half of the year.

Persons: —, Christopher Kempczinski, McDonald's, Lei Meng, Apple, Johnson, that's, General Mills, Kofi Bruce, Mills, Andre Schulten, Procter, Gamble, Schulten, Marriott's, Domino's, DPC Dash, There's, James Quincey, Quincey, We've, Laxman Narasimhan, Luckin Organizations: Nurphoto, Getty, BEIJING, U.S, Nationwide, UBS Securities, General, Procter, Marriott, Asia Pacific, Starbucks Locations: Yichang, Hubei province, China, U.S, Canada, Greater China, Southeast Asia, Japan, South Korea, Asia, Peet's

☆ Why Google should feel nervous about OpenAI's SearchGPT, according to a search engine expert
▼ + stars: | 2024-08-06 | by ( Ana Altchek | ) www.businessinsider.com time to read: +5 min

Read previewWith the recent launch of SearchGPT, OpenAI has positioned itself to compete with Google in the search engine market. The new tool allows users to search the web in real time and automatically summarize results from Microsoft's Bing. Chris Rodgers, the CEO at SEO agency CSP, has worked in the search engine industry for over 20 years. He told Business Insider that SearchGPT may not pose an immediate threat to Google Search. He also said Google should feel the heat because OpenAI has presented a better strategy than Google in its rollout of SearchGPT.

Persons: —, OpenAI, Microsoft's Bing, hasn't, Chris Rodgers, Rodgers, that's, Axel Springer, SearchGPT, it's Organizations: Service, Google, Business, Astra, Vox Media, News Corp Locations: ChatGPT

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