CNN-Business-Consumer

By Laura He and Mark Thompson, CNN Business Global markets and US stock futures fell early Monday, indicating a downbeat start to the trading week after a broad sell-off on Wall Street following surprisingly strong US inflation data. The Dow plunged 880 points, or 2.5%, on Friday. The S&P 500 shed 2.7% and the Nasdaq

By Ramishah Maruf, CNN “Squid Game” is officially coming back. Netflix announced Sunday that the wildly popular South Korean show is green lit for a second season. “And now, Gi-hun returns,” director, writer and executive producer Hwang Dong-hyuk said in a letter to fans. “The Front Man returns. Season 2 is coming.” “Squid Game” is

By Ramishah Maruf, CNN Writer Vladimir Kara-Murza is an outspoken critic of Vladimir Putin. He has made numerous television appearances, including one on CNN, denouncing the Russian president’s “regime of murderers.” Criticizing the Kremlin comes at a high price, and on the heels of that interview in April, Kara-Muzra was arrested and is still behind

By Frank Pallotta, CNN Business The end of the Jurassic era arrived with a deafening roar at the box office. “Jurassic World: Dominion,” the sixth and supposedly last film in the Jurassic Park franchise, brought in an estimated $143.3 million for its North America opening this weekend. The Universal Pictures’ film took the top spot

By Jeanne Sahadi, CNN Business Anyone expecting inflation to have peaked by now got a rude surprise last week. The latest inflation report showed prices in May rose 8.6% from a year ago — the fastest rate in 40 years. Add to that declining stocks, climbing interest rates and global economic troubles caused by Russia’s

By Allison Morrow, CNN Business Cardi B is asking the million-dollar question (Or the 20-trillion-dollar question, more precisely). “When y’all think they going to announce that we going into a recession?” the rapper tweeted this week. We wish we knew the answer, Cardi. After all, recession forecasting has become the national pastime of economists, market

By Paul R. La Monica, CNN Business The Federal Reserve is widely expected to raise interest rates by a half of a percentage point for the second consecutive time at the end of its next meeting on June 15. After that, all bets are off. Bigger rate hikes could be in the cards as consumer

by Chiara Grimes Americans are facing grocery store price hikes at levels not seen since the inflation-soaked 1970s, with double-digit increases on everything from eggs to poultry, according to the latest Consumer Price Index from the Labor Department. Friday’s inflation report was a triple-whammy for consumers, with massive price hikes in food, shelter and energy

By Nathaniel Meyersohn, CNN Business Pam’s. Kenny’s. Molly’s. Lori’s. Melinda’s… Dave Thomas, a successful Kentucky Fried Chicken franchise owner in Columbus, Ohio, and a protege of founder Colonel Harlan Sanders, was struggling in 1969 to find a name for a new hamburger concept he hoped to open. The fast-food burger market was becoming saturated, but

By Chris Isidore, CNN Business For the first time ever, a gallon of regular gas now costs $5 on average nationwide, according to AAA’s Saturday reading. The record is hardly a surprise. Gas prices have been rising steadily for the last eight weeks, and this latest milestone marks the 15th straight day that the AAA

By Ramishah Maruf, CNN Business Inflation is hitting everyone hard — even Snoop Dogg. On Tuesday, the rapper tweeted that even his professional blunt roller got a raise. “Inflation,” Snoop Dogg tweeted in response to a post by UberFacts, which said his full-time blunt roller makes between $40,000 to $50,000 a year. “Their salary went

By Brian Stelter, CNN Business More than 20 million TV viewers tuned in to Thursday’s prime-time presentation about the January 6 attack, and it reached a far larger number through all manner of social and old-school media. According to early Nielsen estimates, nine of the channels that carried the hearing averaged a combined 19 million

By David Goldman, CNN Business Tesla shares are about to get three times less expensive. The company announced Friday that its board approved a 3-for-1 stock split, its first split since August 2020.The split would need to be approved by shareholders at the company’s annual meeting in August. Tesla closed Friday at a little over

By Peter Valdes-Dapena, CNN Business General Motors and Lockheed announced last year they were teaming up to work on a new lunar rover that would carry astronauts and their gear on the moon. Now the companies say they could develop a whole lineup of vehicles for work on the moon and that these could be

By Anna Bahney, CNN Business Mortgage rates have risen faster this year than they have in decades. The average 30-year fixed-rate mortgage has been hovering above 5% for more than a month, taking a toll on prospective homebuyers. While many hopeful buyers have bowed out of the market for now, some are exploring what once

By Nicole Goodkind, CNN Business It’s been yet another week of losses for US markets after steep drops on Friday. The Dow plunged after a key inflation report missed estimates and showed a higher-than-anticipated increase in the price of consumer goods, closing down 880 points for the day, or 2.5%. The S&P 500 shed 2.7%

By Allison Morrow, CNN Business Supply chain problems and inflation have hit virtually all consumer goods, but women who menstruate are now facing an added strain as a shortage of period products hits the United States. Top retailers and manufacturers acknowledged the shortages this week, confirming complaints that have been circulating on social media for

By Frank Pallotta, CNN Business An adventure 65 million years in the making comes to a conclusion this weekend when “Jurassic World: Dominion” stomps into theaters. The Universal film explores a world in which dinosaurs are not just running amok on a remote island, but all over Earth. That concept — alongside a brand that

By Alicia Wallace, CNN Business Consumer sentiment slumped to a record low between May and June, according to preliminary survey data released by the University of Michigan on Friday. Rising inflation continues to frustrate consumers, who are growing tired of shelling out more money — and they are becoming increasingly despondent in the process. Record

By Paul R. La Monica, CNN Business Tech stocks have been obliterated this year. The Nasdaq is down more than 26%, putting that index in a bear market. Unfortunately for investors, analysts at Goldman Sachs see more pain ahead for some (but not all) tech heavyweights. Goldman Sachs analysts downgraded shares of Netflix, eBay and

By Chris Isidore, CNN Business The pain of higher prices continues for US consumers. Record gas prices drove inflation to 8.6% for the 12 months ending in May, higher than the pace in April, according to the latest Consumer Price Index, the government’s basic inflation measure. The reading for core CPI, which strips out volatile

By Chris Isidore, CNN Business Next stop, $5. The US average for the price of a gallon of regular gas hit $4.99 according to the most recent reading from AAA Friday. It marked the 14th straight day, and the 31st time in the last 32 that gas has set a record in America. Gas prices

By Julia Horowitz, CNN Business The latest data on consumer prices in the United States showed that annual inflation unexpectedly rose to a 40-year high in May, underscoring concerns about household finances and piling pressure on political leaders who say they’re doing everything they can to address the problem. What’s happening: The Consumer Price Index

By Oliver Darcy, CNN Business The Washington Post on Thursday fired Felicia Sonmez, the reporter who has been extraordinarily critical of her colleagues and the newspaper’s leadership over the last several days, two people familiar with the matter told CNN on Thursday. The Post’s termination notice, a copy of which was seen by CNN, said

By Gregory Wallace Federal investigators are expanding their probe of Teslas that have slammed into parked first responders’ vehicles. The National Highway Traffic Safety Administration said Thursday its investigation now encompasses 830,000 vehicles with similar driver assist technology. Investigators have reviewed approximately 200 Tesla crashes and are focusing on 16 crashes involving emergency or road

Opinion by Mark Zandi for CNN Business Perspectives Consumer inflation figures for May will be out Friday, and the report is sure to be disquieting. Gasoline prices are seemingly breaking new record highs on almost a daily basis, food costs are soaring, and housing is becoming increasingly unaffordable. The persistence of high inflation in the