The strength of Walmart's first-quarter results even surprised Walmart.
Why it matters: If the retail giant's earnings are truly a bellwether for consumer spending, one thing was confirmed Thursday morning — consumers are still spending on "value and convenience."
A resolution condemning a rule on how to account for cryptocurrency assets has been passed by both houses of the U.S. Congress, setting up a likely veto by the White House.
Why it matters: The crypto industry began its fight against chairman Gary Gensler's SEC in the courts, but has successfully extended it onto a new field: the legislature.
To understandwhat it will take to achieve the "last mile"of bringing inflation down to normal, you need to understand why it shot up so quickly in the first place.
Why it matters: Two of the leading economic policy minds of the last generation have sought to do just that in a new paper, unpacking why global inflation took off in the early 2020s — with results that suggest this inflationary episode can end with less pain for workers than in the 1970s and '80s.
SocialFi is back and folks are talking about it "speedrunning" the history of social media on Web 2.0.
But well-adjusted adults probably don't know what speedrunning is.
Zoom in: Speedrunning is a genre of YouTube video and video game play competition.
Speedrunners master a video game to complete it with unbelievable speed. The point is to play some known territory perfectly, not one millisecond wasted.
For example, according to Speedrun.com, the record for playing 1985's Super Mario Bros. is4 minutes, 54 seconds and 631 milliseconds (second place is slower by much less than a second).
Context: Social media blockchainified (also known as SocialFi) is having its umpteenth moment now with Friend.Tech version 2.0 and Fantasy Top.
Free money is out there in crypto, but it's increasingly more complicated to get your hands on.
Why it matters:Decentralization isn't just a buzzword. The strongest crypto projects really are the ones where the most people own some of the digital asset.
The Dow Jones Industrial Average touched a record high at 40,000 on Thursday, with investors momentarily downplaying fears about inflation and delayed interest rate cuts.
Why it matters: The market has built on momentum in spite of persistent worries about inflation, and what the Federal Reserve may or may not do in response.
The funding structure of the Consumer Financial Protection Bureau (CFPB) passes constitutional muster, the Supreme court ruled Thursday, rebuffing a challenge from payday lenders.
Why it matters: The CFPB was created in the wake of the 2008 financial crisis and plays a crucial role in regulating things like mortgages and car loans, protecting consumers from predatory practices by banks and other financial firms.
The stock market hit a new record high on Wednesday, with all major indices notching uncharted territory.
Why it matters: The optimism embedded in stock prices stands in stark contrast to a much gloomier national mood in an election year almost no one is excited about.
Atlanta, Fort Worth and Raleigh are America's fastest-growing cities with more than 250,000 residents as of 2023, according to new U.S. Census Bureau data out today.
Why it matters: Late-pandemic shifts in where Americans live are still shaking out — with big implications for cities seeing massive growth or rapid decline.
