For: May 22, 2025
>>Ahead Of The Bell
(New York, NY) -- The opening bell rings this morning after a down day on Wall Street. The dismal showing came amid investor concerns over a spike in Treasury yields. The 30-year Treasury yield traded above its highest level since October of 2023. At the closing bell, the Dow Jones Industrial Average fell by 816 points to 41-860. The S&P 500 dropped by 95 points to 58-44. The Nasdaq lost 270 points to 18-872.
>>Price Hikes A 'Last Resort' For Target
(Minneapolis, MN) -- Target says price hikes will be a 'very last resort' for offsetting tariffs. The comment comes despite the retailer reporting weaker-than-expected sales in its first quarter. According to Target's CEO, the company has "many levers to use in mitigating the impact of tariffs." Major retailers appear to be treading cautiously around the question of price hikes after Trump slammed Walmart for warning that shoppers could pay more due to tariffs.
>>UnitedHealth Allegedly Secretly Paid Nursing Homes
(New York, NY) -- UnitedHealth Group stock lost five-point-eight percent at market close Wednesday on news the company secretly paid nursing homes to cut down on hospital transfers. The news was reported by the Guardian, which looked at corporate and patient records, court files, interviews and whistleblower allegations. The practice allegedly saved the company millions but risked the health of patients. UnitedHealth denied the allegations, noting the Justice Department conducted a lengthy investigation and decided not to pursue the matter.
>>Moody's Downgrades Top Lenders
(New York, NY) -- Moody's is downgrading the long-term ratings for JPMorgan Chase, Bank of America and Wells Fargo. The announcement comes after the ratings agency also downgraded the U.S. government over its growing 36-trillion-dollar debt. That downgrade indicated the agency thinks the country is less able to support the obligations of these banks.
>>Sony Ends PlayStation Star Rewards
(Tokyo) -- Sony is discontinuing its PlayStation Rewards program. The company unveiled its Stars rewards program in 2022 to give dedicated players a chance to earn digital collectibles like NFTs. Now Sony says the program is no longer accepting new members and will end this year. Current members will still be able to earn digital collectibles through July 23rd, and will be able to redeem their PlayStation rewards through November of 2026. Sony also assured players that they will still be able to access their collectibles after the program ends.
>>Live Nation Adds Trump Ally To Board
(Beverly Hills, CA) -- Live Nation is adding one of President Trump's closest advisors to its board of directors. Richard Grenell, who is both Trump's presidential envoy for special missions and the newly installed president of the Kennedy Center, will now join the global entertainment company's board. It comes as Live Nation has been up against the Department of Justice in a massive lawsuit filed last year by the U.S. government as well as 30 state and district attorneys general who say the company has abused its concert industry dominance and should be broken up. While the move has sparked pushback from antitrust advocates, Live Nation says Grenell's career experience will "help support Live Nation's mission to bring more live music to the world, while also advocating for industry reforms that protect both fans and artists."
