The change takes effect mid-August; electrified vehicle sales power Volvo surge; EU tells McDonald’s it can no longer trademark chicken Big Mac; Amazon Labor Union joins Teamsters.
Job openings total 8.1 million, again; Bath & Body Works forecasts subdued sales; Volvo launches first EV battery passport; E-Trade considers kicking Keith Gill off platform, WSJ reports.
Airline industry group says higher jet fuel costs will push ticket prices higher; OPEC+ extends oil production cuts into 2025; China’s manufacturing sector rebounds; more women become CEOs of S&P 500 companies.
PCE inflation was at an annual rate of 2.7%; Cconsumer spending slowed in April to a 0.2% annual gain; eurozone inflation climbs to 2.6%; Saudi monarchy to sell $12 billion in shares of oil giant Aramco.
GDP grew 1.3%, as consumer spending on services held up; wholesale inventories advance 0.2%; Dollar Tree to reopen 99 Cents Only stores; initial jobless claims remain low.