For: May 13, 2025
>>Watching Wall Street
(New York, NY) -- All eyes will be on the Wall Street opening bell this morning after stocks rallied Monday on news of a temporary trade war truce between the U.S. and China. The move will see tariffs slashed for 90 days. Banking, retail and technology shares advanced in a broad rally as investors cheered the de-escalation ahead of more trade talks. At the closing bell, the Dow Jones Industrial Average gained 1,160 points to 42-410. The S&P 500 rose 184 points to 58-44. The Nasdaq climbed 779 points to 18-708.
>>Consumer Price Index Data Due
(Undated) -- The consumer price index is scheduled for release today. The index is one of the Fed's most trusted inflation gauges and is expected this time around to show the first clear impact of the Trump administration's global tariffs. It's due to come out at 8:30 am Eastern.
>>Sneaker Industry Tariff Impact
(Undated) -- American shoe companies are "encouraged" by U.S.-China trade negotiations, but say the industry still "needs relief." The CEO of Footwear Distributors and Retailers of America, which represents Nike, Under Armour and other leading shoe companies, said in a statement, "we're not across the finish line yet." The comments come after the Trump administration's progress in recent negotiations, however, shoes are highly exposed to tariffs because 99-percent of all footwear sold in the U.S. is manufactured overseas. The industry has warned that tariffs could wipe out hundreds of businesses, kill tens of thousands of jobs and raise prices for consumers.
>>Deadline To File 23andMe Loss Claims Announced
(San Francisco, CA) -- Genetic testing giant 23andMe is notifying customers that they may be eligible to file claims as the company files for Chapter 11 bankruptcy. Eligible current and former customers have until July 14th to file claims for losses incurred. The move follows a massive data breach that compromised sensitive personal information of nearly seven million users.
>>McDonald's To Hire 375,000 Workers This Summer
(Chicago, IL) -- McDonald's is planning to hire up to 375-thousand workers nationwide this summer. The fast-food chain announced the move at a news conference that included the U.S. Labor Secretary. Monday's event celebrated the ten-year anniversary of the company's "Archways to Opportunity" program which offers tuition assistance and helps employees reach their education goals.
>>Boston Startup Freight Farms Shuts Down Operations
(Boston, MA) -- Boston-based fresh food startup Freight Farms has filed for bankruptcy and has shut down operations. The company was launched with a Kickstarter crowdfunding campaign in 2013 with the goal of producing fresh food for the masses. They manufactured hydroponic farming systems retrofitted inside intermodal freight containers. In a recent bankruptcy filing, Freight Farms reported seven-million-dollars in debts and 600-thousand-dollars in assets, with just 26-thousand-dollars in cash on hand.
