Dow 40,000, GameStop meme craze and inflation hangover
Investors wrapped a busy week of inflation data, new records for the stock market and the return of wild trading in the so-called meme stocks led by GameStop and AMC.
-The Dow Jones Industrial Average has captured 40,000 for the first time ever
-Inflation remains elevated, weighing on Fed Chairman Powell's psyche
-Walmart is winning as more high-earning Americans shop to stretch their dollars
-Thank "Roaring Kitty" for GameStop, AMC and the meme stock trading revolution
-Boeing whistleblower cause of death revealed
-Iconic Las Vegas casino to be leveled to make way for new brand
-Red Lobster fans mourn the collapse of the casual dining chain
STOCKS HIT RECORDS: The Dow Jones Industrial Average closed above the 40,000 level for the first time in history. These members of the Dow 30 drove the gains…continue reading here. The S&P 500 and Nasdaq Composite are also trading at record highs…market updates here.
VIDEO: Wall Street strategists see the S&P 500 moving even higher by year's end.
LIVE PRICES FOR CRYPTOCURRENCIES: HERE
INFLATION NATION: Fresh inflation data showed prices are easing, ever so slightly, but still remain too high for most Americans. Read where prices are the highest…continue reading here. The state of inflation is giving Federal Reserve Chairman Jerome Powell ongoing angst….continue reading here.
VIDEO: Jared Bernstein fact-checked on Biden's economy and higher costs.
THE NATIONAL DEBT TRACKER WILL BLOW YOUR MIND
WALMART WINNING: The world's biggest retailer is benefiting from inflation as more customers, especially high earners, turn to the discounter…continue reading here.
VIDEO: Walmart shoppers are lifting the retailer whose shares hit a new record.
MEME REVOLUTION: GameStop shares gyrated all week with big swings up and down thanks to a social media investor, "Roaring Kitty." AMC also got caught up in the frenzy despite no news on either company. Still, the short sellers are not buying the hype…continue reading here. Who is "Roaring Kitty?"…continue reading here.
VIDEO: What the heck happened to GameStop this week?
BOEING WHISTLEBLOWER: The autopsy results of a Boeing whistleblower have been released continue reading here.
MUST-SEE VIDEO: A Boeing plane catches fire in Indonesia.
VIVA REDO: An iconic casino hotel, a staple on the Las Vegas strip, is being torn down to make way for a new and improved brand…continue reading here.
BYE-BYE!: Following their public split, Melinda Gates is quitting the Bill & Melinda Gates foundation in favor of her own big money philanthropy…continue reading here.
CRACKED: Red Lobster is closing locations and auctioning restuarant equipment as the chain reportedly preps for bankruptcy…continue reading here.
DON'T MISS IT: The FOX Business Rundown Podcast - First episode…. May 20th…more podcasts here.
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