>>Stocks Drop After Hot Inflation Report
(New York, NY) -- Wall Street is opening sharply lower after inflation data came in hotter than expected. The consumer price index for January rose three-tenths of a percent and core prices, excluding volatile food and energy, rose three-point-nine percent from one year ago. The reading spiked Treasury yields and raised concerns about Federal Reserve rate cuts this year. At the opening bell, the Dow Jones Industrial Average was down about 300 points. The S&P 500 and the Nasdaq were off more than one percent in early trading.
>>Nvidia Market Cap Eclipses Amazon, Alphabet
(Santa Clara, CA) -- Nvidia is currently the fourth-most valuable public company in the world after trading closed Monday. Shares in the chip company rose, pushing its market cap to one-point-83 trillion dollars, moving it ahead of both Alphabet and Amazon. The stock has risen 17-thousand percent over the past decade.
>>Elon Musk Has To Testify In SEC Probe Of Twitter Acquisition
(Washington, D.C.) -- Tesla and Space X CEO Elon Musk is going to have to testify in a probe by the SEC into his takeover of Twitter. A U.S. judge made the order in a court filing over the weekend. The tech mogul acquired Twitter in 2022 and rebranded the social media app into what is now called "X." SEC officials are investigating whether Musk, or anyone else, committed securities fraud that year as the billionaire began buying stock in Twitter ahead of his leveraged buyout of the company. The federal financial regulator and Musk now have one week to set a date and location for his testimony.
>>Uber, Lyft And Doordash Drivers To Strike On Valentine's Day
(New York, NY) -- Uber, Lyft and DoorDash drivers are striking across the U.S. on Valentine's Day. Drivers' groups said Monday they're seeking fair pay. This is the first strike call since Uber and Lyft went public in 2019. Groups said drivers are going to picket outside airports and Uber officers. The Justice For App Workers coalition, which represents about 130-thousand drivers, said drivers wouldn't provide rides to and from airports between 11 am and 1pm in nearly a dozen cities.
>>Tiger Woods Announces Apparel Deal
(Pacific Palisades, CA) -- Tiger Woods has a new apparel deal. After ending his decades-long, highly profitable relationship with Nike last month, the pro golf veteran announced on Monday that he's working with TaylorMade to launch a new brand: Sun Day Red. The company's website says the line is coming May 1st and will also include women and children's styles.
