Amazon stock falls after Prime Day spending shows 14% decline in early hours
In this episode, I review the latest U.S. inflation report, which shows the annual rate dropped to 2.3%—a four-year low. But while energy prices fell sharply, core inflation remains sticky, and shelter costs are still elevated. Also in this episode:
- Retail sales slowed in April, rising just 0.1%, with key consumer segments pulling back despite resilient dining and home improvement spending.
- The “control group” of retail sales, used to estimate GDP, turned negative—which raises concerns about broader economic weakness.
- Core inflation remains stuck at 2.8%, with housing costs keeping overall inflation higher than the Fed would like.
- Walmart (NYSE:WMT) warns of rising prices due to new tariffs, affecting everything from toys to groceries.
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