Larry Kudlow: A different plan to crush inflation

All Posts in "inflation"

Larry Kudlow: A different plan to crush inflation

FOX Business host Larry Kudlow reacts to the consumer price index report and calls out the White House shifting the blame to Vladimir Putin on ‘Kudlow.’

Today’s CPI inflation report came in a lot stronger than folks expected and in fact, there were numerous signs that not only is inflation not peaking, but actually, it may be accelerating. I’ll get to that in a moment, but I feel it’s my duty to report President Biden’s response. “Exxon made more money than God this year,” and then he proceeded to bash the oil companies for not drilling.

Why aren’t they drilling? Because they make more money and they buy back their stock, which should be taxed. I’m paraphrasing his indecipherable word salad, but that’s the gist of it — blame big oil.

Later on, his NEC director, Brian Deese, said that if you really isolate what’s going on here, Vladimir Putin

Dow sheds 638 pts. ahead of inflation data and $5 gas, mortgage rates spike: LIVE UPDATES

Exchange Traded Funds – Market Update

Breaking News

Dow sheds 639 points, Nasdaq sinks 2.7%, S&P 500 2% ahead of consumer inflation data

U.S. stocks closed at the lows of the session on Thursday ahead of the Consumer Price Index, due Friday, which is expected to show inflation remained near a 40-year high. Bond yields advanced again with the 10-year crossing 3% and the 2-year hitting 2.815%, the highest since December 2018. In commodities, oil closed at $121.51 with gas prices expected to hit $5 a gallon overnight.

Developing Story

Dow selling accelerates

Symbol	Price	Change	%Change
I:DJI	$32,677.87	-233.03	-0.71%

Dow laggards include Boeing, Disney, Visa and Apple, while Home Depot, 3M and Saleforce are notching modest gains.

Developing Story

Nasdaq pacing market selloff

Symbol	Price	Change	%Change
COST	$482.32	+14.33	+3.06%
SBUX	$80.07	+1.60	+2.04%

Costco and Starbucks buck the downtrend in the Nasdaq Composite.

Nasdaq Composite Index.

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

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

Inflation hits Amazon: Price of Prime memberships going up

Circle Squared Alternative Investments Jeff Sica provides analysis into the Amazon markets report on ‘Varney & Co.’

Amazon announced Thursday that it would be boosting the price of its Prime membership for U.S. customers, citing rising costs as the reason behind the decision.

In a letter to investors outlining its fourth quarter earnings, the company stated that increased wage and transportation costs along with its expansion of membership benefits has led the online retail giant to increase its Prime fees for the first time since 2018.

FILE PHOTO: Logos of Amazon and Amazon Prime are pictured on vehicles outside the Amazon Fulfilment Centre in Altrincham, near Manchester, Britain, November 26, 2021. REUTERS/Carl Recine/File Photo (Reuters / Reuters Photos)

STATEN ISLAND AMAZON WAREHOUSE GAINS ENOUGH SUPPORT FOR UNION ELECTION, LABOR BOARD SAYS

Monthly Prime memberships will go from $12.99 to $14.99, and annual memberships will be hiked to $139 from the