Tesla CEO Elon Musk said Thursday the company is planning to make its Optimus robots available for sale to the public by the end of 2027. Musk spoke at the World Economic Forum in Davos, Switzerland, and was asked during a discussion with BlackRock CEO and interim WEF co-chair Larry Fink about when Tesla's Optimus robots will be deployed widely in manufacturing settings."Humanoid robotics will advance very quickly. We do have some of the Tesla Optimus robots doing simple tasks in the factory," Musk said. "P ...

Mortgage rates ticked higher this week but remain the lowest in three years, mortgage buyer Freddie Mac said Thursday. Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage rose to 6.09% from last week's reading of 6.06%. The average rate on a 30-year loan was 6.96% a year ago. HOME DELISTINGS SURGE AS SELLERS STRUGGLE TO GET THEIR PRICE "With the economy improving and the average 30-year fixed-rate mortgage nearly a percentag ...

E-commerce giant Amazon is trying to gain an edge over its big-box rivals, with plans to open its largest-ever retail store on a 35-acre plot sitting in the Chicago suburbs.  The company is aiming to build a sprawling 230,000-square-foot property in Orland Park, which could open as soon as next year following proper approvals.Half of the store would sell a combination of groceries, general merchandise and prepared food, while the other half would be used for fulfillment of online and in-store orders. COSTCO ...

Core Viewpoint - The U.S. and China have reached an agreement on a TikTok U.S. spin-off deal, allowing the app to continue operating in the U.S. while addressing concerns regarding its Chinese parent company, ByteDance [1] Group 1: Joint Venture Structure - The new TikTok U.S. joint venture will be led by a mostly American investor group, including Oracle and Silver Lake, as announced by TikTok CEO Shou Chew [2] - ByteDance will retain a nearly 20% stake in the new U.S. entity, while Oracle, Silver Lake, and MGX will each hold 15% stakes [4] Group 2: Regulatory Concerns - The new entity aims to alleviate U.S. lawmakers' concerns about the Chinese government's potential influence over ByteDance, particularly regarding data access for the platform's 170 million American users [3] - The governance of the new entity will include a board with a majority of directors from the U.S., ensuring American control over operations [4] Group 3: Legislative Context - The deal's closing date is set for January 22, following an executive order signed by President Donald Trump that delayed the enforcement of a law requiring ByteDance to divest TikTok's U.S. business [7] - The bipartisan Protecting Americans from Foreign Adversary Controlled Applications Act bans social media apps linked to adversarial foreign governments from U.S. app stores, with the law taking effect in January 2025 [8] Group 4: Valuation and Security - The U.S. business of TikTok is valued at approximately $14 billion in the deal, with a focus on protecting American data security and ensuring continued access to the app [10] - Control over the algorithm by the American entity is emphasized as crucial for meeting national security requirements under the law [12]

Core Insights - McDonald's is expanding its menu with new items, including a hot honey sauce and protein-focused sandwiches, to attract more customers [1][2] - The company is implementing a broader strategy that combines nostalgia, technology, and loyalty initiatives to adapt to changing consumer habits [3] - McDonald's value strategy has intensified competition in the fast-food industry, prompting rivals to enhance their value offerings [5] Menu Additions - The new menu items include the Hot Honey Sausage Egg Biscuit with 17 grams of protein, the Bacon Hot Honey McCrispy Sandwich, the Hot Honey McCrispy Sandwich, and a Hot Honey Snack Wrap [1][2] - The hot honey sauce will be available at participating locations starting January 27 for a limited time [1] Value Strategy - McDonald's has reintroduced Extra Value Meals, offering meal bundles that save customers 15% compared to purchasing items separately [6] - The fast-food chain is reducing combo meal prices to attract budget-conscious consumers amid low consumer sentiment [8] - Industry experts note that restaurants are focusing on providing value to retain existing customers and attract new ones during challenging economic times [10]

The Federal Reserve's preferred inflation gauge showed that consumer prices remained elevated in November, ahead of the central bank's policy meeting next week. The Commerce Department on Thursday reported that the personal consumption expenditures (PCE) index rose 0.2% in November on a monthly basis and is up 2.8% from last year. While the monthly figure was in line with the estimate of LSEG economists, the annual inflation reading was slightly hotter than the 2.7% economists anticipated.Core PCE, which ex ...

Core Insights - The New York Stock Exchange (NYSE) is rapidly expanding into Texas, with over 100 companies dual-listing on NYSE Texas in less than a year, highlighting a shift towards Texas's pro-business environment [1][2]. Group 1: Expansion and Growth - NYSE Texas was launched on March 31 of the previous year, and it has achieved more than 100 dual listings within a year [2]. - The expansion aims to enhance NYSE's presence in the South and Southwest, while continuing to operate alongside the main New York exchange [6]. Group 2: Market Sentiment and Future Outlook - There is a strong demand for dual listings on NYSE Texas, attributed to favorable pro-business legislation in Texas, which includes protections for shareholder rights and C-suite executives [7]. - The growth of NYSE Texas aligns with a broader resurgence in IPO and listing activities, with expectations of a "super cycle" in capital markets anticipated for 2026 [7][8]. - The sentiment in the market is optimistic, with indications of significant deal activity across various sectors, not limited to mega IPOs [8].

The U.S. economy grew at a faster pace than expected in the third quarter, according to the Commerce Department's estimate. The Bureau of Economic Analysis (BEA) on Thursday released its final reading of third-quarter GDP, which showed the economy grew at an annualized rate of 4.4% in the three-month period including July, August and September. That figure topped the expectations of economists polled by LSEG, who had estimated 3.3% GDP growth in the third quarter. It was also the fastest growth rate in two ...

President Donald Trump's push to restrict Wall Street investors from buying up single-family homes in the name of promoting affordability could have the opposite effect and push prices higher, investors are warning. Trump signed an executive order on Tuesday that directs federal regulators to promote home sales to individuals and to issue guidance preventing federal programs from facilitating single-family home sales to Wall Street investors. The order also mandates antitrust scrutiny of institutional home ...

Core Insights - H-E-B has been ranked as America's top grocery store for the fifth time in nine years, surpassing major competitors like Amazon, Costco, and Trader Joe's [1][2] - The ranking is based on a study by Dunnhumby, which evaluated 81 major U.S. grocery stores, combining financial performance with survey responses from over 11,000 American shoppers [8] Company Performance - H-E-B operates more than 440 stores and is recognized for its superior ability to deliver better savings, quality, experience, and assortment [2] - Market Basket and Woodman's ranked second and third, respectively, while Costco, Aldi, WinCo Foods, Trader Joe's, Amazon, Wegmans, and ShopRite completed the top ten [5] Market Trends - For the first time, the leading three retailers in the U.S. are all regional chains, indicating a shift in consumer preferences [5] - Consumer confidence has declined due to rising prices, limited job opportunities, and stagnant wages, leading shoppers to make more price-conscious choices [8][11] Economic Context - Overall food prices increased by 0.7% in December and 3.1% year-over-year, reflecting ongoing inflationary pressures [12]