Markets Now Thursday, May 23, 2024

Analysis: Walmart and Target are slashing prices. What does that mean for inflation?

Americans might notice markdowns for some everyday essentials during their weekly grocery runs. That doesn’t mean the battle against inflation is won.  
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Dow falls more than 600 points, notching worst day of the year

The Dow tumbled by more than 600 points Thursday, notching its worst day of 2024, as all three major indexes closed lower. The drop came even after AI-darling Nvidia delivered stellar quarterly earnings and announced a 10-for-1 stock split.  
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Retailers use police-like investigation centers to fight theft. Shoppers pay the price

Retailers like Home Depot supply cops with the key evidence to bust organized crime rings.  
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It looks like someone tried to steal Graceland, possibly one of the dumbest crimes ever

We can’t be 100% sure that an obscure lending company just tried to steal Graceland. But a Tennessee judge on Wednesday said, essentially, it sure looks like that’s what happened.  
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Oreo-maker Mondelez fined $366 million for rigging European markets

Mondelez, the maker of Oreo and Cadbury Dairy Milk chocolate, has been fined €337.5 million ($366 million) for hindering the trade of chocolate, cookies and coffee between European Union countries in order to keep prices high.  
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Bargain-hungry Americans are flocking to Temu and making its Chinese owner very rich

PDD Holdings, the owner of Temu and Pinduoduo, is blowing past market expectations with a massive surge in profit and revenue as American and Chinese consumers swarm its bargain shopping apps for low-cost products.  
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Source: CNN Business