>>Ahead Of The Bell
(New York, NY) -- The opening bell rings this morning after stocks closed sharply higher on Tuesday. At the closing bell, the Dow Jones Industrial Average gained 408 points to 39-765. The S&P 500 added 90 points to 54-34. The Nasdaq climbed 407 points to 17-187.
>>Investors Await CPI
(Washington, DC) -- Investors are anxiously waiting for a second inflation indicator, after the first came in a little better than expected on Tuesday. The Producer Price Index looks at inflation from the perspective of manufacturers and suppliers of goods and services. It rose less than expected in July, and now the hope is the Consumer Price Index will follow suit today. The CPI measures the actual prices consumers pay. Even with inflation rising year-over-year, its rate of growth has cooled, giving some hope that it will eventually start to drop.
>>Ford Issues Do-Not-Drive Advisory For Airbag Replacement
(Detroit, MI) -- Ford is calling on drivers of certain models, including the Mustang, to stop driving the vehicles and get the Takata airbags replaced. The company has issued a do-not-drive advisory for over 765-thousand cars and trucks, almost half of which are in the U.S. Other models include the Ranger, Fusion, Edge and Lincoln MKZ. The advisory applies to customers who have not completed the recalls for driver airbag inflators on these vehicles dating back to 2004.
>>FDA Upgrades Health Hazard In Candy Recall
(Washington, DC) -- Dozens of snacks and candies are being recalled because of a salmonella risk. The FDA says it's upgrading its recall of about two dozen snacks made by the Palmer Candy Company because the white candy coatings on the snacks may have been contaminated. The snacks were sold nationwide at retailers like Target, Walmart and Dollar General and have a best-buy date of April 2025. The FDA says the recall has been upgraded to its highest level of health hazard because there is a reasonable probability that the use of or exposure to the product will cause "serious adverse health consequences or death."
>>UAW Files Labor Charges Against Trump, Musk
(Washington, DC) -- The United Auto Workers union is filing federal labor charges against former President Trump and billionaire Elon Musk. The move comes after Trump and Musk held a two-hour conversation on X Monday night. During the interview, Trump praised Musk, who owns the electric car company Tesla, for firing workers who threatened to go on strike. The UAW noted that under federal law, workers cannot be fired for going on strike and threatening to do so is illegal. The union recently endorsed Kamala Harris for president.
>>Amazon Offering In-App Shopping Experience To More Social Media Platforms
(New York, NY) -- Amazon is teaming up with TikTok and Pinterest to make it easier for users to shop directly from the social media apps. TikTok or Pinterest Users will now be able to link their social media accounts to their Amazon account. Once synced, they can buy items directly from Amazon while still being within either of the social media apps. Users can unlink their Amazon account inside of TikTok's app settings should they want to opt out of the tech tie-up shopping. The move aims to capitalize on the growing trend of in-app shopping. Similar partnerships are already in place with Meta and Snap.
>>Paramount Global Announces Layoffs
(Los Angeles, CA) -- Paramount Global is laying off 15-percent of its employees. Executives shared the news in a memo to investors. The company says Paramount is at an inflection point where changes must be made to strengthen our business. This comes weeks after top executives at Paramount committed to cut 500-million-dollars from the company's budget. Paramount has agreed to merge with Hollywood heavyweight Skydance.
>>Starbucks CEO Out After One Year
(Seattle, WA) -- Starbucks is getting a new CEO. Laxman Narasimhan is resigning immediately. In 2023, he took over for Howard Schultz, the longtime Starbucks leader who was working as the company's interim CEO. Starbucks has experienced weak sales and increasing competition. The company's revenue dropped two percent during the first quarter of the year. The new CEO is Brian Niccol, currently the CEO of Chipotle, where he's credited with driving strong growth.
>>Chuck E. Cheese Announces Monthly Membership Plans
(Irving, TX) -- Chuck E. Cheese is launching membership plans. The family entertainment chain will offer unlimited visits for a monthly fee beginning at eight-dollars for the Bronze tier to 30-dollars a month for the gold tier. The passes include a number of games per visit and discounts on food and drinks depending on the membership tier. They can be used at the over 470 participating locations in the U.S.
