Consumer sentiment plummets to near-record lows—but stock markets remain unfazed
Sentiment readings dipped from 52.2 in April to 50.8 in May, according to new data from the University of Michigan. Source link
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S&P 500 notches 5-day win streak, Nasdaq gains 7% for week as Wall Street shakes off trade war worries
Stocks closed up for the week, as optimism over trade deals overshadowed plummeting consumer sentiment data released on Friday. The S&P 500 (^GSPC) extended gains for a fifth straight session, up more than 5% for the week. The tech-heavy Nasdaq Composite (IXIC) also rose more than 7% over the past five days. The Dow Jones…
Warren Buffett’s Berkshire Hathaway Sold Bank Stocks, Built up Cash in Q1
Warren Buffett played it safe again last quarter, with his firm selling more stock while beefing up its cash pile. Berkshire Hathaway revealed in a 13F filing on Thursday that it trimmed several positions last quarter while the stock market was hit with the first wave of volatility related to tariffs, which drove the S&P…
The Charter-Cox Merger Won’t Fix the Cord-Cutting Problem
The nation’s biggest pay-TV provider is getting even bigger — and not a moment too soon. Cable giant Charter unveiled plans on Friday to merge with Cox in a $34.5 billion deal. The deal could offer the companies a lifeline at a time when the pay-TV business is on shaky ground and losing subscribers to…
U.S. consumer sentiment continues to plummet
In This Story U.S. consumer sentiment is hovering just above rock bottom, falling to its second-lowest level on record. Even in an economy that’s technically growing, households are increasingly uneasy. The culprit? Growing anxiety over tariffs, inflation, and trade policy. How Trump’s tariffs could make your iPhone cost $3,500 The University of Michigan’s closely watched…
Charter, Cox Communications merger valued at $34.5B
May 16 (UPI) — Charter Communications, one of the largest telecommunications companies in the United States announced a merger Friday with privately-held Cox Communications in a multi-billion-dollar deal. Once the merger is completed, the new entity will retain the name of Atlanta-based Cox, a subsidiary of parent company Cox Enterprises, a private firm founded in…
Staten Island Ferry, NY Waterway locations and schedules during NJ Transit rail strike
NEW YORK (WABC) — New Jersey Transit train engineers have gone on strike in a dispute over wages, impacting some 350,000 commuters who rely on trains across the state. Staten Island Ferry and NY Waterway are options for commuters impacted by the NJ Transit rail strike. Passengers can catch the Staten Island Ferry at two…
These two US cable giants are pursuing a $34.5B merger
Charter Communications has offered to acquire Cox Communications, a $34.5 billion merger that would combine two of the top three cable companies in the U.S. Cox is the third-largest cable television company in the country, with more than 6.5 million digital cable, internet, telephone and home security customers. It has a strong foothold in states…
A ‘rogue employee’ was behind Grok’s unprompted ‘white genocide’ mentions
Elon Musk’s artificial intelligence company on Friday said a “rogue employee” was behind its chatbot’s unsolicited rants about “white genocide” in South Africa earlier this week. The clarification comes less than 48 hours after Grok — the chatbot from Musk’s xAI that is available through his social media platform, X — began bombarding users with…
NJ Gov. Murphy blasts striking NJ Transit union workers amid commuter nightmare
New Jersey Gov. Phil Murphy ripped NJ Transit engineers for going on strike Friday — blasting their actions as a “slap in the face” to commuters and a “mess of their own making.” The Democrat lashed out after roughly 400 rail engineers walked off the job after marathon contract talks stalled ahead of a midnight deadline, setting…