For: June 9, 2025
>>Wall Street Welcomes Fresh Trading Week
(New York, NY) -- The opening bell rings this morning, kicking off a fresh trading week on Wall Street. This, after stocks closed higher on Friday. At the closing bell, the Dow Jones Industrial Average gained 443 to 42-762. The S&P 500 rose 61 points to 6,000. The Nasdaq climbed 231 points to 19-529.
>>Michael's Acquires JoAnn's Brands
Craft retailer Michaels is expanding its sewing and yarn selection, aiming to appeal to customers affected by Joann’s bankruptcy and store closures. Michaels will soon begin selling Brother and Singer sewing machines, broadening its inventory of sewing products. The yarn department is also expanding: a 25% increase in selection is planned, with 60 new Loops & Threads yarns already arriving in stores and online. Additional yarns from Bernat, Lion Brand, and Red Heart will be available this summer. Products from Joann’s Big Twist line are also set to launch later this year, as Michaels ramps up fabric offerings for quilting, apparel, and home décor.
>>Economic Reports On The Horizon
(Undated) -- Coming up in the business week ahead, things get started today with data on wholesale inventories. Tuesday brings the National Federation of Independent Business, or NFIB, optimism index. Things heat up the following day with the release of the consumer price index, which is the most widely followed inflation gauge. The producer price index and weekly jobless claims are due Thursday, and the week wraps up on a Friday the 13th with word on consumer sentiment.
>>Musk's Net Worth Takes Big Hit
(Undated) -- Billionaire Elon Musk's saw part of his net worth evaporate last week as his feud with President Trump played out. According to Bloomberg, the Tesla CEO's net worth fell to 334-billion-dollars as of late Thursday. On Friday Forbes reported it rebounded to nearly 400-billion thanks to a slight recovery in Tesla's stock. It's the second-largest loss that Bloomberg's Billionaire Index has ever seen. Musk's net worth comes from his stake in Tesla where he is the largest individual shareholder. But he also has major holdings in SpaceX, NeuraLink and The Boring Company.
>>Trump Touts Trade Meeting With China
(Washington, DC) -- China and the U.S. are meeting in the hopes of striking a trade deal. President Trump confirmed that Treasury Secretary Scott Bessent, Secretary of Commerce Howard Lutnick, and U.S. Trade Representative, Ambassador Jamieson Greer, will be meeting today in London with their Chinese counterparts.
>>Report: Trump To Extend TikTok Sale Deadline Again
(Washington, DC) -- President Trump is reportedly planning to extend the deadline for a TikTok sale again. That's according to the Wall Street Journal which cited people familiar with the latest plan. This would be the third extension granted by Trump since he retook office in January. TikTok's Chinese owner must sell the popular video sharing app or it will face a ban in the U.S. The current deadline is June 19th.
>>Apple WWDC 2025 Starts Today
(Cupertino, CA) -- Apple's 2025 Worldwide Developers Conference kicks off today. The event is being held at Apple Park in Cupertino, California and runs through the 13th. You can check out the live stream on YouTube, Apple's website and the Apple App.
