US wholesale inflation fell in July for 1st time in 2 years
Prices at the wholesale level fell from June to July, the first month-to-month drop in more than two years and a sign that some of the U.S. economy’s inflationary pressures cooled last month.
Elon Musk sells $7B in Tesla shares ahead of Twitter fight
Elon Musk has sold nearly $7 billion worth of shares in Tesla as the billionaire gets his finances in order ahead of his court battle with Twitter. Musk disclosed in series of regulatory filings that he unloaded about 8 million shares of his company Tesla Inc. in recent days.
EXPLAINER: Mixed US inflation signs. Where are prices going?
Consumers struggling with skyrocketing prices for food, gas, autos and rent got a tantalizing hint of relief last month, when prices didn’t budge at all from June after 25 straight months of increases. With gas prices continuing to fall, inflation is probably slowing further this month.
Pfizer buying spree continues with $5.4B hematology deal
Pfizer will spend about $5.4 billion to buy Global Blood Therapeutics as the pharmaceutical giant continues to invest some of the cash influx reaped during the COVID-19 pandemic.
Wall Street ending flat as investors await inflation updates
Major stock indexes on Wall Street gave up early gains and ended a choppy day of trading little changed Monday. The S&P 500 and Nasdaq each slipped 0.1% after shedding gains of 1% and 1.6%, respectively. The Dow Jones Industrial Average closed 0.1% higher.
