Back in April 2020, Amazon's (NASDAQ: AMZN) market cap briefly eclipsed Apple's (NASDAQ: AAPL). Let's see why Apple pulled so far ahead of Amazon -- and if Amazon can catch up again by 2025. Why did Amazon pull ahead of Apple? Read More...
Reuters
‘Evidence of a slowdown’: US consumers spurn big-ticket items like cars, couches, cruises
U.S. consumers are exhibiting fragility ahead of the peak period for corporate results next month, as some are struggling to pay bills and others are slowing purchases of cars, sneakers, and household goods, the week’s earnings show. Data released on Friday showed U.S. consumer spending increased more than expected in August, but aggressive interest rate hikes from the Federal Reserve as it battles stubbornly high inflation are slowing demand. Nike, maker of Air Jordan and Converse sneakers, saw its shares tumble to the lowest level in 2-1/2 years on Friday, a day after the company said it needed bigger discounts to clear a build-up of inventory.
