Wholesale inflation ticks up in June in the United States
The Labor Department reported a 2.6 percent year over year rise in wholesale prices, the sharpest since March 2023, with a 0.2 percent monthly gain. Core wholesale prices rose 0.4 percent from May, 3 percent year over year, driven by a 0.6 percent services price jump led by machinery and auto wholesalers, though trade services volatility tempers the signal.
MENTIONED IN THIS ARTICLE
Washington
United States
Labor Department
Wall Street Nears Record Highs As Fed Rate Cut Hopes Rise
U S stocks edge higher with the S&P 500 up 0.6 percent and the Dow and Nasdaq each gaining 0.6 percent. Bank of New York Mellon shares jump while Wells Fargo slides on mixed profit signals. Bond yields fluctuate as inflation data suggest easing cost pressures, boosting expectations for earlier Fed rate cuts and supporting stock valuations.
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New York
U.S
Wall Street
Bank of New York Mellon
Nvidia
Wells Fargo
Treasury
Senators accuse Big Tech of poaching AI talent via deals
Three U.S. senators urge a Justice Department FTC probe into AI talent moves as Adept transfers its CEO and key staff to Amazon and licenses its AI systems. The move, labeled an acquihire by some, prompts warnings of anti competitive consolidation and calls for regulator scrutiny.
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U.S. Senate
Adept
Amazon
Washington
U.S
Ron Wyden
Oregon Democrat
Associated Press
Michael A. Cusumano
Massachusetts Institute of Technology
Cusumano
Microsoft
Mustafa Suleyman
Europe
Wyden
Elizabeth
Warren
Massachusetts
Peter Welch
Vermont
Justice Department
Federal Trade Commission
FTC
DOJ
Nvidia
Openai
Department of Justice
Google
LifeWise sues organizer over curriculum access and copyright
LifeWise sues Zachary Parrish alleging copyright infringement after he volunteered to teach using LifeWise materials. ProPublica reports LifeWise revenue above 13 million in 2023, funded partly by local programs and donations. The case centers on church state separation and local community control in Ohio. Contact lines reference Chroniclet.com reporters.
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LifeWise
Zachary Parrish
Parrish
Penton
Gospel Project
ProPublica
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Matt O’brien and
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the Market IN Review
Dow Jones Industrials
S&p 500
Leanne Eee
Dow Industrials
Dow Transportation
Dow Utilities
NYSE
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S&p
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Alibaba
Merck
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Alphabi
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Apple Inc
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PepsiCo
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Qualcom
Eli Lilly
Shell PLC
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ExxonMbl
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HSBC
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IBM
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Intuit
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CME
Chicago Mercantile Exchange
ICE
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DiMauro
Ohio
Richard Perrins
Chroniclet
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