US retail sales fall 0.6% in July, missing forecasts
Why it matters: The drop may ease pressure on the Fed, though economists still see stock-market gains supporting spending.
Bloomberg, The Business Times (Singapore) +3
Subject
#Commerce Department
US GDP growth slowed to 1.5% in Q2 as inflation stayed elevated
Why it matters: Consumer spending held up, but 3.7% inflation and weaker government spending, investment and trade dragged on growth.
US second-quarter GDP slowed to 1.5% as spending stayed firm
What's new: Inflation hit 3.7% in June, while lower government spending and a wider import gap dragged on growth.
US core PCE inflation hit 3.4% in May, highest since 2023
Why it matters: The 4.1% headline reading and stronger consumer spending kept rate-hike expectations alive for later this year.
CNBC, ABC News +1
US retail sales rose 0.9% in May as gas prices cooled
What's new: Online sales climbed 1.5%, while restaurant sales slipped 0.1% and tax refunds helped support spending.
Bloomberg, ABC News
US threatened curbs on Anthropic’s top AI models for foreigners
What’s new: A Commerce Department letter warned access to Fable 5 and Mythos 5 could require licenses worldwide, with civil and criminal penalties for violations.
CNBC, The Hill