For: May 5, 2025
>>Wall Street Welcomes Fresh Trading Week (New York, NY) -- The opening bell rings this morning as Wall Street welcomes a fresh trading session with a strong week in the rearview mirror. Stocks jumped Friday following a better-than-expected monthly jobs report which helped ease recession fears. The S&P 500 posted its longest winning streak in two decades with the three major averages notching weekly gains of more than two percent. At the closing bell, the Dow Jones Industrial Average gained 564 points to 41-317 The S&P 500 rose 82 points to 56-86. The Nasdaq climbed 266 points to 17-977.
>>No Rate Cut Expected When FOMC Meets This Week
(Undated) -- Coming up in the business week ahead, the Federal Reserve is set to decide interest rates. The central bank opens a two-day meeting on Tuesday with the highly-anticipated rate announcement on Wednesday. A rate cut is not in the forecast this time around, according to most analysts. Weekly jobless claims follow on Thursday, with a drop expected to bring that number down to around 230-thousand, versus the prior week's 241-thousand.
>>Trump Calls For 100% Tariff On Foreign Movies
(Washington, DC) -- President Trump is calling for a 100-percent tariff on films produced outside of America and imported into the States. Trump took to Truth Social on Sunday to announce that he had instructed the Department of Commerce and the U.S. Trade Representative to "immediately begin the process" of instituting the tariffs. He cited non-specific national security threats and said "WE WANT MOVIES MADE IN AMERICA, AGAIN!" Intellectual property like films cannot have tariffs placed on them but implementing trade barriers like laws and film tax credits could happen.
>>Oil Prices Down On OPEC Move
(Undated) -- Oil prices are down after OPEC said it would be increasing production for the second month in a row. At last check Brent crude was down more than three percent to under 60-dollars a barrel. U.S. crude oil dropped nearly four percent to about 56-dollars a barrel. OPEC, an alliance of oil producing nations, made the announcement of elevated production levels on Friday.
>>Warren Buffett To Step Down As Berkshire Hathaway
(Omaha, NE) -- Billionaire Warren Buffett plans to step down as CEO of Berkshire Hathaway at the end of the year. The legendary 94-year-old investment wizard announced his retirement over the weekend at the company's annual shareholder meeting in Omaha. Buffett owns more than 160-billion dollars in Berkshire and says he won't sell a single share after he retires. Today's announcement came as a surprise to shareholders. Buffett, known as the Oracle of Omaha, is recommending Greg Abel to fill his shoes.
>>Target Pulls Self-Checkout During Shoplifting Spike
(Undated) -- Target is adopting a new self-checkout policy given the recent surge in shoplifting. The retailer announced it's now limiting self-checkout to shoppers with ten or less items. The company also said it is expanding its staffed-checkouts to improve efficiency. Target says pilot tests showed the new policy improved speed and customer satisfaction at stores.
>>Apple Approves Spotify's Latest Updated App
(Undated) -- Apple is giving the thumbs up to Spotify's U.S. app update. The music streamer revealed the news Friday saying customers can now see pricing information and can select purchase and subscription options within the app. Apple approved the new version after a recent ruling by federal judge ordered the tech giant to stop charging commissions through apps on its iPhone. That ruling stemmed from a ongoing case with Epic Games - maker of the video game Fortnite.
>>Eco-Friendly "RecyCoolers"
(Gilroy, CA) -- A California packaging company is introducing a new shipping cooler that could transform how temperature-sensitive products are moved across the world. The introduction of "RecyCoolers" containers, which are made of recyclable paper and fiber, offers a sign of "extended producer responsibility" laws propelling a shift toward more sustainable products in the U.S. According to Container Consulting Service, "RecyCoolers" can keep contents frozen or refrigerated for more than 100 hours. The rollout of the new shipping coolers comes as lawmakers take aim at hard-to-recycle plastic and foam.
>>SharkNinja Recalls Over 1 Million Pressure Cookers After Burn Injuries
(Undated) -- SharkNinja is recalling over one million pressure cookers after reports of burn injuries that have resulted in more than two dozen lawsuits. There have been 106 reports of burn injuries. The recall notice said the pressure cooker's lid can be opened while in use, allowing hot contents to escape, creating a burn risk to consumers. The recall is for the SharkNinja Foodi OP300 Series Multi-Function Pressure Cooker. It also includes OP300 series replacement lids purchased as an extra part.
