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Two US cost gauges surpass estimates, stoking inflation concern

The Labor Departments employment cost index increased 1.3% in the second quarter from the prior three months, 0.1% more than economists estimated. The Commerce Departments personal consumption expenditures price index rose on a monthly basis in June by 1%, the fastest since 2005.
United States Jerome Powell Commerce Department Spotify Technology Northrop Grumman Corp Walmart Inc

Why Spotify's Car Thing was destined for the hardware graveyard

LOS ANGELES/STOCKHOLM - Spotify Technology SA's Car Thing player is now a thing of the past. The world's leading audio streaming service on Wednesday (July 27) announced it would discontinue the device just five months after it became available to all users in the United States. In doing so, Spotify became the latest software technology company to stumble in an...
United States Paul Vogel Frank Gillett Tim Bajarin Meta Platforms Inc Spotify Technology

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Dow Gains 436, Nasdaq Rises 470, S&P Up 103

Technology companies led a broad rally for stocks on Wall Street Wednesday as investors welcomed another interest rate hike by the Federal Reserve as sign the central bank is ratcheting up its campaign to fight surging inflation. In a widely expected move, the central bank raised its key interest rate by three-quarters of a point, […]
Jerome Powell Charlie Ripley Jay Hatfield Chipotle Mexican Grill Spotify Technology Federal Reserve

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