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CNN Early Start With Christine Romans and Laura Jarrett July 7, 2024

reported, get this, a stunning 52% drop in first quarter profits, that was just a day after shares in the nation s largest retailer walmart had their worst day in 35 years. what is going on here? they have their fingers on the pulse of the american consumer and they say inflation was the problem, their customers are sticking to the basics when they come in, leaving with fewer items in their shopping carts. those purchasing decisions being driven by sticker shock of course. basics are getting much more expensive, gas up 44% the last year, car, food and shelter also way up. americans are also making more money. wages rising in this tight labor market, but that is also feeding into worries about inflation because of wages. and because of rising prices, people don t feel secure so they are cutting back and that is shaking market confidence. right now stock index futures are leaning lower. asia closed mixed overnight. looks like except for china all down here. let s bring in ....

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CNN New Day With John Berman and Brianna Keilar July 7, 2024

nearly two years, the dow dropped nearly 1200 points, it came after target reported a huge 52% drop in profits for the first quarter, walmart slashed its outlooks. these stores are pocketing less money because they have to pay so much more to get product on their shelves. wal walmart s stock fell more than 11% on tuesday, the company s worst day since 1987. and then of course there are also gas prices to talk b now above $4 a gallon in every state in america for the first time ever. the national average this morning $4.52 a gallon and climbing and that ripple effect is now hitting markets around the globe. overnight european markets opening lower, stocks also tumbled in asia after wall street s hellish day. inflation fears now depressing investor sentiment, many ceos publicly stating their concerns about a possible recession, something fed chairman jerome powell is keenly aware of. what we need to see is inflation coming down in a clear and convincing way and we r ....

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CNN Erin Burnett OutFront July 7, 2024

intentional. let s go outfront. good evening. i m erin burnett. outfront tonight, the break news. stocks plunge. the dow closing down more than 1100 points today. that is the biggest loss since 2020, at the height of coronavirus, when there was so much uncertainty, no vaccine. the numbers were surging of the dead. this is the biggest drop since then. sit because the nation, one of the biggest retailers in the country, target, said it is getting crushed by inflation, which is hurting the entire country. the ceo saying costs have been rising much faster than retail prices. it was just yesterday that walmart stocks suffered its worst day since 1987. same reason, surging costs. the ceo telling investors, bottom line results were unexpected and reflect ton usual environment. u.s. inflation levels, particularly in food and fuel created more pressure. that pressure is hurting americans. it is outpacing any wage increases, and it is doing so everywhere. and the economy is ....

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CNN Don Lemon Tonight July 7, 2024

commonwealth. the senate gop primary. hedge fund guy dave mccormick and trump-endorsed tv doc dr. mehmet oz locked in a tighter than tight battle. look at that. just 2,600 votes apart. the trumpiest candidate really not endorsed by him kathy barnette trailing despite what looked like a late surge and people were concerned she might actually win, or could win. cnn projects doug mastriano, a champion of the bogus big lie of election fraud, in 2020 has won the gop governor s primary there. and talk about high drama. as cnn projects john fetterman wins pennsylvania s democratic senate primary. he is exactly where he didn t expect to be right now, though, watching from his hospital bed. he s recovering from surgery to get a pacemaker today after he suffered a stroke on friday. and then there is north carolina. that s where madison cawthorn has conceded to chuck edwards. the 26-year-old cawthorn conceding after multiple scandals, everything from bringing a loaded handgun thro ....

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CNN New Day With John Berman and Brianna Keilar July 7, 2024

and john fetterman easily won the democratic senate primary in pennsylvania, though he might be the first candidate to do so from a hospital bed. he is out of surgery this morning after suffering a stroke and receiving a pacemaker just hours before the polls closed. we ll hear from his wife in a bit. meanwhile in north carolina, the first term congressman madison cawthorn has conceded after losing his primary to state senator chuck edwards. it is a major lrebuke of someon who was once seen as a rising star in the gop but whose political career saw scandal after scandal that put him on the outs with his own party. donald trump had pleaded with voterses to give cawthorn a second chance, but they chose a different path. meanwhile in idaho, republican governor brad little beat back a challenge from his own lieutenant governor whose tirades against covid restrictions had won her the endorsement of donald trump. and in pennsylvania, senate race is so close on the republic ....

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