For: June 3, 2025
>>Ahead Of The Bell
(New York, NY) -- The opening bell rings this morning after Wall Street closed higher Monday to start the new month. Stocks edged higher as investors largely shook off increasing global trade tensions. Major steel stocks rallied after President Trump said he would double steel and aluminum tariffs to 50 percent. Cleveland Cliffs surged more than 20 percent while Steel Dynamics and Nucor rose about 10 percent. At the closing bell, the Dow Jones Industrial Average gained 35 points to 42-305. The S&P 500 rose 24 points to 59-35. The Nasdaq climbed 128 points to 19-242.
>>Tax Refunds Coming In June
(Washington, DC) -- Some taxpayers can expect to receive refunds this month. While many have already received their 2024 tax returns, most who filed their taxes in May are receiving their refunds in June. According to the IRS, refunds for taxpayers who filed online and opted for direct deposit should generally arrive within three weeks, but the process could take longer if a check in the mail was requested. Taxpayers can track their refund status on the IRS's 'Where's My Refund?' tool and via the I-R-S-2-GO app.
>>Disney Lays Off Hundreds
(Los Angeles, CA) -- Disney is laying off hundreds of employees. That's according to Deadline, which reported most of the layoffs are across divisions of Disney Entertainment with corporate financial operations also being impacted. This is the fourth round of layoffs by the media giant in the past ten months.
>>Powell Speaks At International Finance Conference
(Washington, DC) -- Federal Reserve Chair Jerome Powell says it's vital that the Central Bank understands the financial practices of other nations. Speaking Monday at the International Finance Division's 75th anniversary conference, Powell said seeing data from around the world, helps the Fed navigate inflation and employment. Likewise, Powell said the world looks at the Federal Reserve when there's a crisis to see how it responds. It comes as the Fed has held interest rates steady, despite calls from President Trump to lower them.
>>Bill Gates To Spend Fortune In Africa
(Addis Ababa) -- Bill Gates says he plans to spend the majority of his fortune on improving health and education across Africa. Speaking in Ethiopia at the headquarters of the African Union Monday, the Microsoft co-founder said he plans to put 200-billion-dollars from the Gates Foundation towards addressing challenges across the continent. He said the money will be spent over the next 20 years before his foundation is shut down in 2045.
>>Hundreds Of CVS Store Closures
(Woonsocket, RI) -- Hundreds of CVS pharmacies are closing this year. The national drug store chain confirmed the closure of 270 stores as part of an ongoing effort to "realign" the company's retail footprint. News of the closures were first announced in October of 2024. The company also said it planned to open nearly 30 CVS Pharmacy locations this year and it previously shared plans to open "smaller format" stores in select communities.
>>Auto Repair Chain Shutting Down Stores
(Fairport, NY) -- An auto-service giant with locations spanning the U.S. is closing over 100 locations. According to the company, Monro has more than one-thousand-250 auto repair shops and tire dealers across 32 states, and now 145 of those locations will be shutting its doors. Monro's president said the move comes after leadership identified key areas of potential improvement which are customer experience and selling effectiveness, customer acquisition and activation, and increasing merchandising productivity. The company did not identify which locations are slated for closure.
