Consumer inflation data, Amazon stock split, Yellen testimony top week ahead

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Consumer inflation data, Amazon stock split, Yellen testimony top week ahead

Strategic Funds co-managing director Marc Lopresti and CEO of Recruiting.com Evan Sohn unpack the state of the economy and its impact on hiring following strong May jobs reports.

Inflation at the consumer level will be a major economic focus this upcoming week along with another round of corporate earnings and what could be more volatility for U.S. stocks.

The Nasdaq Composite, on Friday, fell 2.4%, the S&P 500 shed 1.6% and the Dow Jones Industrial Average fell over 1% or 349 points. The 10-Year Treasury yield rose to 2.955% as investors anticipate more rate hikes by the Federal Reserve.

Ticker	Security	Last	Change	Change %
I:DJI	DOW JONES AVERAGES	32899.7	-348.58	-1.05%
SP500	S&P 500	4108.54	-68.28	-1.63%
I:COMP	NASDAQ COMPOSITE INDEX	12012.733912	-304.16	-2.47%

FOX Business takes a look at the upcoming events that are likely to move financial markets in the coming days.

Monday 6/6

Apple will also

Ann Turner Cook, original Gerber baby, dead at 95

Fox News contributor denounces White House’s inaction surrounding the persisting baby formula shortage that has sent parents scrambling on ‘The Evening Edit.’

Ann Turner Cook, whose face became the iconic Gerber logo nearly a century ago, has died at the age of 95.

The Michigan-founded company announced Cook’s passing in an Instagram post on Friday.

“Many years before becoming an extraordinary mother, teacher and writer, her smile and expressive curiosity captured hearts everywhere and will continue to live on as a symbol for all babies,” the company said.

Ann Taylor Cook, poses at her Tampa, Fla., home Wednesday afternoon Feb. 4, 2004, with a copy of her photo that is used on all Gerber baby food products. (AP Photo/Chris O’Meara, File / AP Newsroom)

In 1928, Cook was 5 months old, and a neighbor, artist Dorothy Hope Smith, drew a charcoal sketch of her that was later submitted for a

Amazon CEO of Worldwide Consumer Dave Clark to resign July 1

Check out what’s clicking on FoxBusiness.com.

Amazon’s CEO of Worldwide Consumer Dave Clark will resign on July 1 after 23 years at the e-commerce behemoth.

“As much as I have loved the ride, it is time for me to say goodbye to start a new journey,” Clark said in an email to staff shared on Twitter Friday. “For some time, I have discussed my intent to transition out of Amazon with my family and others close to me, but I wanted to ensure that teams were set up for success. I feel confident that time is now.”

Clark has served as CEO of Worldwide Consumer since January 2021, overseeing the company’s massive retail business.

Prior to taking on the position, Clark helped scale the company’s fulfillment network and supply chain through leadership roles, including senior vice president of worldwide operations, vice president of global customer fulfillment and vice president of

Former McDonald’s CEO: Inflation is driving every US restaurant ‘absolutely crazy’

Former McDonald’s USA CEO Ed Rensi provides insight into product prices increasing in the restaurant business.

McDonald’s is one of the companies feeling the heat of inflation, forcing the franchise to raise their prices.

Former McDonald’s USA CEO Ed Rensi argued that inflation is driving every restaurant in the United States “absolutely crazy,” and that the price of products has gone up “substantially.”

“Portion sizes are shrinking. Prices are going up. It’s just insane what’s happening in the restaurant industry,” Rensi told “Cavuto: Coast to Coast” Friday.

INFLATION HITS MCDONALD’S ON FOOD COSTS, LABOR

“It’s also true of every other small business,” Rensi said. “They’re all suffering terribly from this federal inflation.”

Former McDonald’s USA CEO Ed Rensi provides insight into product prices increasing in the restaurant business.

McDonald’s says inflationary pressures will stick around in 2022 after profits and sales fell short of estimates.

In the U.S., the Golden

Nasdaq, S&P end higher, oil tops $92 level

Penn Capital CIO Eric Green discusses volatility in the market.

U.S. stocks closed higher in what was another volatile week as investors weighed the stronger-than-expected monthly jobs report against positive earnings and rising interest rates.

Ticker	Security	Last	Change	Change %
I:DJI	DOW JONES AVERAGES	35089.74	-21.42	-0.06%
SP500	S&P 500	4500.53	+23.09	+0.52%
I:COMP	NASDAQ COMPOSITE INDEX	14098.006675	+219.19	+1.58%

The Dow Jones Industrial Average ended with little changed, while the S&P 500 and Nasdaq Composite rose 0.5% and 1.5%, respectively. For the week, all three of the major averages posted gains.

The yield on the 10-year Treasury rose to 1.93%, the highest since December 2019, lifting big banks higher.

Ticker	Security	Last	Change	Change %
JPM	JPMORGAN CHASE & CO.	152.56	+3.86	+2.60%
BAC	BANK OF AMERICA CORP.	48.28	+1.85	+3.98%
WFC	WELLS FARGO & CO.	56.33	+1.16	+2.10%

Oil tacked on 5.5% for the week, closing at