For: May 12, 2025
>>Wall Street Welcomes Fresh Trading Week (New York, NY) -- The opening bell rings this morning after stocks closed mostly lower to end the week on Friday. At the closing bell, the Dow Jones Industrial Average fell 119 points to 41-249. The S&P 500 lost 4 points to 56-59. The Nasdaq rose a fraction of a point to 17-928. Investors this week will be keeping an eye out for a couple of key inflation gauges - the consumer price index on Tuesday and the producer price index on Thursday. Retail sales and weekly jobless claims are due the same day along with remarks from Fed Chair Jerome Powell who'll be speaking at a conference in Washington, DC.
>>U.S., China Agree To Reduce Tariffs
(Washington, DC) -- Treasury Secretary Scott Bessent says the Trump administration is closing in on a trade deal with China. Following weekend talks in Switzerland, Bessent said the two countries have agreed to pause their reciprocal tariffs for 90 days, with both sides lowering those rates by 115 percent. Chinese goods had been hit with tariffs as high as 145-percent under the Trump administration. Beijing in turn applied a 125-percent levy on some U.S. goods.
>>Geologists Uncover $1.5 Trillion Lithium Deposit In U.S. (McDermitt, NV) -- A lithium deposit worth over one trillion dollars has been discovered in the U.S. Located in the McDermitt Caldera on the Oregon-Nevada border is what could be one of the largest lithium deposits ever found. Many see it as a possible boost for electric battery production, but locals are concerned about the impact on wildlife and cultural sites. Geologists say the caldera may contain between 20 and 40 million metric tons of lithium. A proposal from HiTech Minerals Inc. is looking to add roads and hundreds of wells to test for lithium in Malheur County.
>>TD Bank Closing 38 Locations
(Cherry Hill, NJ) -- TD Bank is shuttering nearly 40 locations next month. The bank, which still has more than a thousand locations, said the closures will take place June 5th. The closures, which affect locations in ten states and the District of Columbia, come after a company-wide evaluation.
>>Netflix Plans To Pull Interactive Movies
(Los Gatos, CA) -- Netflix is planning to pull its interactive movie selections from the streaming service. The streamer will remove "Black Mirror: Bandersnatch," and "Unbreakable Kimmy Schmidt: Kimmy vs The Reverend" today. The decision seemingly marks an end of Netflix's efforts to make the interactive format available to customers and it comes as the company ramps up its gaming portfolio. The newly redesigned TV homepage now features games users can play on connected televisions with their mobile phone serving as a game controller.
>>Samsung To Hold Unpacked Event
(Suwon, South Korea) -- Samsung is holding a virtual event today to show off the Galaxy S25 Edge. The new device will be slimmer than the standard S25 and promises to come with a powerful AI companion. The "Unpacked" event will be streamed live at 8pm Eastern on the company's YouTube page.
>>Box Office Update
(Undated) -- Disney and Marvel Studios' Thunderbolts made 33 million dollars in its second week and stands at a total of 128 million dollars. Warner Brothers "Sinners" raked in 21 million dollars in its fourth weekend. "A Minecraft Movie" crossed the 408-million-dollar mark in its sixth week on the big screen. The Ben Affleck led "Accountant 2" brought in a total of 50 million dollars in its third week. IFC's "Clown in a Cornfield" hit theaters this weekend and made over four million dollars in its debut.
