Markets Decline: Major indexes closed lower on Wednesday. The Dow Jones dropped 0.60%, the S&P 500 fell 0.77%, and the Nasdaq Composite decreased by 1.05%. This decline follows a positive Tuesday where the indexes had rebounded.
Warner Bros. Discovery Results: Warner Bros. Discovery missed analyst expectations with a loss of 36 cents per share and $9.7 billion in revenue. A $9.1 billion impairment charge impacted results, although streaming growth was a bright spot with 3.6 million new subscribers.
Political Pressure on Prices: Politicians are intensifying their focus on inflation and corporate pricing. Vice President Kamala Harris and several senators are targeting perceived price gouging and "shrinkflation" ahead of the November elections, affecting companies like Walmart and Kroger.
Recession Concerns: JPMorgan Chase CEO Jamie Dimon suggests a recession is likely, estimating a 35-40% chance of a “soft landing” for the U.S. economy. Dimon expressed skepticism about the Federal Reserve’s ability to reduce inflation to 2%.
AI Costs for Apple: Apple may charge up to $20 for its new AI features, potentially integrated into the Apple One subscription. This follows a trend where advanced AI capabilities come with additional costs for consumers.
Warner Bros. Discovery Results: Warner Bros. Discovery missed analyst expectations with a loss of 36 cents per share and $9.7 billion in revenue. A $9.1 billion impairment charge impacted results, although streaming growth was a bright spot with 3.6 million new subscribers.
Political Pressure on Prices: Politicians are intensifying their focus on inflation and corporate pricing. Vice President Kamala Harris and several senators are targeting perceived price gouging and "shrinkflation" ahead of the November elections, affecting companies like Walmart and Kroger.
Recession Concerns: JPMorgan Chase CEO Jamie Dimon suggests a recession is likely, estimating a 35-40% chance of a “soft landing” for the U.S. economy. Dimon expressed skepticism about the Federal Reserve’s ability to reduce inflation to 2%.
AI Costs for Apple: Apple may charge up to $20 for its new AI features, potentially integrated into the Apple One subscription. This follows a trend where advanced AI capabilities come with additional costs for consumers.