Dick’s Sporting Goods is set to close a number of underperforming Foot Locker stores as it continues to review its business and position it for sustained growth.  "At Foot Locker, we've assembled a world-class management team and are taking decisive actions to ‘clean out the garage’ by clearing unproductive inventory, closing underperforming stores and laying the foundation for a fresh start in 2026," Dick's Sporting Goods Executive Chairman Ed Stack said in a statement on Tuesday. The decision to close und ...

Core Viewpoint - Treasury Secretary Scott Bessent has narrowed down candidates to replace Federal Reserve Chairman Jerome Powell, with a decision expected by Christmas, although Powell is likely to complete his term ending May 15, 2026 [1][2]. Candidate Summaries - **Michelle Bowman**: Federal Reserve Governor and vice chair for supervision, she was one of the first dissenters favoring rate cuts during the July meeting when rates were left unchanged [6]. - **Kevin Hassett**: Director of the National Economic Council, previously served as a senior advisor and chairman of the Council of Economic Advisers. He noted a less-than-expected 3% annual increase in consumer inflation, suggesting costs are falling [9][10]. - **Rick Rieder**: Chief investment officer of global fixed income at BlackRock, overseeing $3.2 trillion in customer assets. He expressed that being considered for the Fed chair would be a significant honor and emphasized the importance of monetary policy [10][11]. - **Christopher Waller**: Another dissenting Federal Reserve member who plans to advocate for a rate cut in December, expressing concerns about the weak labor market despite inflation not being a major issue [14][15]. - **Kevin Warsh**: Former Federal Reserve governor and critic of the central bank's forecasting abilities, particularly regarding inflation and economic growth [16][17].

Core Viewpoint - The U.S. economy requires significant interest rate cuts to alleviate high borrowing costs and support labor market recovery [1][2][7]. Monetary Policy - Federal Reserve governor Stephen Miran advocates for large interest rate cuts to achieve a neutral monetary policy quickly, arguing that current rates are restrictive and detrimental to economic growth [2][5]. - The Federal Open Market Committee (FOMC) is divided on the necessity of further rate cuts, with discussions ongoing about the impact of a softening labor market and persistent inflation [2][3]. Interest Rate Cuts - Miran suggests a series of 50 basis point cuts, citing recent positive job data and low inflationary risks as justification for this approach [5][6]. - The Fed has already implemented two rate cuts this year, bringing the federal funds rate to a range of 3.75% to 4% [3]. Labor Market and Unemployment - The rising unemployment rate is attributed to tight monetary policy, and Miran expresses concern that failure to cut rates could hinder labor market recovery [6][7]. - Miran emphasizes the need for a forward-looking approach in policy-making to address the challenges in the labor market [7]. Housing Market - Miran highlights the importance of easing mortgage rates, noting that while financial conditions may appear loose due to the stock market, the housing market remains tight [8]. - He believes that cutting interest rates will eventually lead to improved financial conditions in the housing market [8].

Core Viewpoint - Target is planning to expand its footprint with new, larger-format stores despite experiencing weak sales, aiming to reverse its sales slump and achieve profitable growth [1] Group 1: Investment Plans - Target will increase capital expenditures to $5 billion in the next fiscal year, marking a 25% increase or approximately $1 billion more than in 2025 [2] - The investment will focus on upgrading existing locations, enhancing supply chain and technology, and building new large-format stores [3][5] Group 2: Sales Performance - Target reported another quarter of declining traffic and sales, contrasting with Walmart's higher sales across categories [8] - The gap between Walmart and Target is widening, with Walmart experiencing a 5% gain in apparel sales while Target saw a 2.7% decline in store sales [9] Group 3: Strategic Focus - The new CEO, Michael Fiddelke, aims to steer Target towards a more profitable future by focusing on merchandising and store remodels [6][11] - Analysts emphasize the need for Target to strengthen its digital, automation, and supply-chain capabilities to remain competitive with Walmart, which has been investing heavily in automation [12][14]

Core Points - An American Airlines flight was diverted due to reports of an odor in the flight deck and cabin, resulting in five individuals being hospitalized [1][2] - The flight, American Airlines Flight 2118, safely landed at George Bush Intercontinental Airport in Houston after departing from Orlando and heading to Phoenix [1][6] - Passengers were transferred to a different aircraft to continue their journey to Phoenix after the incident [5][6] Incident Details - Four crew members and one passenger were hospitalized for treatment following the incident [2] - The nature of the odor that prompted the diversion remains unclear [5] - This incident follows a similar occurrence in October, where another American Airlines flight returned to Los Angeles due to an odor in the cabin [8]

Accusations are making their rounds after a Campbell Soup Company executive allegedly made disparaging comments regarding the company’s customers and employees. The executive was secretly recorded during a meeting, according to a lawsuit filed in Michigan’s Wayne County Circuit Court.The suit, filed by Robert Garza, a former cybersecurity analyst for Campbell Soup, accuses Martin Bally, the company’s vice president and chief information security officer, of making the offensive comments during a meeting in ...

Core Viewpoint - Tyson Foods is closing a major beef plant in Nebraska and scaling back operations in Texas due to declining U.S. cattle supplies, which has led to record-high beef prices [1][2][6]. Company Actions - The closure of the Lexington plant in Nebraska will affect approximately 3,200 employees, while the Amarillo plant will move to a single full-capacity shift, impacting around 1,700 workers [1][2]. - Tyson Foods plans to increase production at other facilities to meet customer demand and is committed to supporting affected employees through job placement and relocation benefits [2][5]. Industry Context - The U.S. cattle inventory has dropped to its lowest level in 70 years, contributing to a surge in beef prices, with beef and veal prices up 14.7% year-over-year [3][6][8]. - Despite rising prices, consumer demand for beef remains strong, with Americans spending over $40 billion on fresh beef in 2024, accounting for over half of all fresh-meat sales [12]. Financial Performance - Tyson's beef business reported adjusted losses of $426 million in the 12 months ending September 27, with projections of losses between $400 million to $600 million for the 2026 fiscal year [11].

Core Viewpoint - The House China Committee is urging Amazon to disclose the country of origin for all products sold on its platform, emphasizing the need for transparency regarding U.S.-made parts and the nationality of sellers, particularly in light of national security concerns related to Chinese companies [1][10]. Group 1: Legislative Actions - Lawmakers have specifically called out TP-Link, a Chinese-founded company, highlighting concerns over its compliance with the 2017 Chinese Intelligence Law, which could compel it to share data with Chinese authorities [2]. - The committee has also reached out to the Federal Trade Commission (FTC) to encourage all e-commerce platforms to adopt similar transparency measures regarding product origins [6][7]. Group 2: Consumer Protection and Transparency - The letter requests Amazon to implement user-friendly search tools that allow customers to filter products based on their country of origin, thereby enhancing consumer choice and safety [3][8]. - Current product listings on Amazon often obscure country-of-origin information, making it difficult for consumers to make informed purchasing decisions [8]. Group 3: Economic and National Security Implications - The committee frames the issue as critical for both economic and national security, arguing that consumers should not inadvertently purchase products from companies based in adversarial nations like China [10][12]. - Increased transparency is seen as a way to support U.S. manufacturing and empower consumers to make choices that bolster the domestic economy [12].

Prices are increasingly top of mind for families planning theme-park vacations – and it’s showing in the numbers. Revenues at U.S. amusement parks have slipped nearly 2% year over year after several years of steady post-pandemic growth, according to the Federal Reserve Bank of St. Louis.A major signal came from Disney: in its latest earnings report, the company revealed a drop in attendance at its domestic parks for the fiscal year ending in September. UNIVERSAL EPIC UNIVERSE OPENS IN FLORIDA: TAKE AN INSID ...

Core Insights - Amazon Web Services (AWS) announced a plan to invest up to $50 billion to enhance AI and supercomputing capabilities for U.S. government agencies, marking a significant commitment to federal technology infrastructure [1][5]. Investment Details - The investment will commence in 2026 and aims to add nearly 1.3 gigawatts of AI and supercomputing capacity across various AWS regions, including AWS Top Secret, AWS Secret, and AWS GovCloud (US) [2]. - AWS will build data centers equipped with advanced computing and networking technologies to support this initiative [2]. Strategic Impact - AWS CEO Matt Garman emphasized that this investment will transform how federal agencies utilize supercomputing, enabling faster execution of critical missions such as cybersecurity and drug discovery [3][5]. - The initiative is designed to eliminate technological barriers that have previously hindered government operations, positioning the U.S. to lead in the AI era [5]. AI Services Offered - Federal agencies will gain access to a range of AWS AI services, including Amazon SageMaker for model training, Amazon Bedrock for deployment, and various AI chips and infrastructure [5][12]. - The investment supports the White House's AI Action Plan and aims to enhance decision-making and discovery processes across government missions [12]. Operational Efficiency - AWS's AI and supercomputing capabilities are expected to significantly reduce the time required for data analysis, allowing tasks that once took weeks or months to be completed in hours [8]. - The technology will enable real-time processing of extensive security data, facilitating immediate actionable insights and automated threat detection [8][9].