For: May 6, 2025
>>Ahead Of The Bell
(New York, NY) -- The opening bell rings this morning after Wall Street kicked off a new trading week with stocks closing in the red Monday. At the closing bell, the Dow Jones Industrial Average lost 98 points to 41-219 The S&P 500 snapped a nine-day winning streak, falling 36 points to 56-50. The Nasdaq lost 133 points to 17-844.
>>Hollywood Studios' Stocks Fall
(Los Angeles, CA) -- Hollywood's top studios are seeing stock prices fall after President Trump vowed to implement a 100-percent tariff on movies made in what he called "foreign lands." Netflix, Warner Bros. Discovery and Disney all saw shares drop Monday before managing to recover some. It's unclear how the movie tariff would be implemented on intellectual property, who exactly would be targeted, and who would pay if tariffs are implemented.
>>Central Bank Meeting
(Undated) -- The Federal Reserve opens a two-day meeting today with a highly-anticipated announcement on interest rates due Wednesday. A rate cut is not in the forecast this time around, according to most analysts.
>>Ford Suspends Outlook, Says It Will Take $1.5B Hit Because Of Tariffs
(Detroit, MI) -- Ford is suspending its 2025 financial outlook because of new tariffs on imported vehicles and parts. The automaker said Monday that President Trump's tariffs could add one and a-half billion dollars in costs next year. The 25-percent tariffs target imports from countries like Mexico and Canada. Ford's profits are already down this year, especially in its electric division.
>>Americans Cool On Long-Term Stock Investments
(Undated) -- The number of Americans who say stocks or mutual funds are the best long-term investment is declining. According to a Gallup survey, 16-percent of adults say stocks or mutual funds are the best long-term investment compared to 22-percent of people who held this view around the same time last year. The poll was conducted in the first two weeks of April when President Trump announced sweeping tariffs that sent the stock market on a nosedive. Despite the drop in favorability, the survey found gold had a slight uptick in popularity this year, with 23-percent saying it's the best long-term investment, which is up from 18-percent last April.
>>Pratt And Whitney Strike Enters Second Day
(East Hartford, CT) -- The strike by around three thousand machinists at Pratt and Whitney in Connecticut has entered a second day. The unionized workers hit the picket line early yesterday morning after failing to reach a new contract with the company and its parent RTX Corporation. The unions representing the striking employees say the jet engine maker has brought in replacement workers to fill the void while the strike is ongoing. Pratt and Whitney says their offer to the union would provide competitive compensation while ensuring the company can grow in a difficult marketplace.
>>Rite Aid Files For Bankruptcy
(Buffalo, NY) -- Rite Aid is in financial trouble. The drugstore chain filed for Chapter eleven bankruptcy for the second time on Monday within two years. CEO Matt Schroeder says the bad economy, tariffs and other factors contributed to the situation.
