Apple is readying an upgrade to its Vision Pro headset, which has suffered from a "lackluster debut" after it was initially billed as a revolutionary device, Bloomberg reports.
State of play: The new version — which may arrive this year — "will include a faster processor and components that can better run artificial intelligence," Bloomberg reports.
It will also come with "a new strap to make it easier to wear the headset for long periods of time" since a common complaint is that it's uncomfortable to wear it for too long because it's so heavy.
Yes, but: The most critical upgrade — making it weigh significantly less — is still at least two years away, Bloomberg reports.
U.S. online shoppers shelled out $7.9 billion across all retailers on the first day of Amazon's four-day Prime Day sale, up nearly 10% from last year, per Adobe data.
Why it matters:Prime Day is more than just a summer shopping event — it's a pulse check on U.S. consumer behavior, pricing power and retail strategy.
Killing the penny could trigger a small "rounding tax" that forces cash-paying consumers to spend a bit more at the register, according to a new report from the Federal Reserve Bank of Richmond.
Why it matters: With the one-cent coin's upcoming demise, making sense of cents — and getting exact change — could get a lot trickier.
Federal Reserve officials debated whether tariff-driven inflation in the months ahead will be a one-time event or an ongoing problem, according to minutes of their last policy meeting released Wednesday afternoon.
Why it matters: The central bank is leaving interest rates paused for now, but the ultimate judgment over whether inflation is temporary or lasting will shape their willingness to cut rates in the months ahead.
Not too long ago, mRNA vaccines were viewed as one of the country's most significant biotech breakthroughs. Safe, effective, and well-funded.
Today, they're viewed with skepticism — if not outright fear — by many Americans, including HHS chief RFK Jr.
So it seems like an unlikely time to raise $45 million in venture capital funding for an mRNA vax startup, let alone one working on a universal flu vaccine. But that's just what Silicon Valley-based Centivax did yesterday, led by Steve Jurvetson's Future Ventures.
The U.S. started imposing tariffs by letter to a variety of countries, pairing new rates with an explicit warning that even those could change at any time.
Why it matters: After months of threats, President Trump is abruptly re-escalating the trade war.
Why is President Trump escalating a trade war that had seemed dormant, threatening high tariffs on major trading partners, imported copper, and pharmaceuticals? A better question is "why not?"
The big picture: Economic, market, and policy developments have been a wind at the president's back in the last two months. The threatened downsides of an erratic policy process have not materialized, and economic naysayers — for the moment, at least — look silly.
The built-in modem that delivers live traffic and streaming apps to the dashboard of most modern vehicles works the other way, too — if anyone actually uses it.
Why it matters: That untapped potential could unlock billions of dollars in revenue for car dealers looking to expand the most profitable part of their business — parts and service.
Goldman Sachs is raising its year-end price target for the S&P 500, even as it has trimmed expectations for corporate earnings growth.
The call is based on earlier and deeper interest rate cuts from the Federal Reserve, corporate resilience, lower bond yields and investor positioning (aka vibes).
Why it matters: Investing for an environment priced for an economic expansion looks very different than investing to hedge against potential weakness.
A prominent Wall Street strategist is offering a "mea culpa" for doubting the strength of corporate America following the April tariff saga.
The big picture: Bank of America's Savita Subramanian isn't bullish all around. She sees stagflation ahead, with slowing growth coupled with persistent inflation.
Someone has to pay the cost of tariffs — and a new survey out Tuesday finds many companies are already feeling the pain.
Why it matters: Businesses trying to insulate customers from trade costs can only eat them for so long before raising prices, fueling the tariff-driven inflation many economists fear.
Two of Wall Street's biggest banks have very differing views of how the economy will develop this year, but they agree on one thing: Don't sweat tariffs, just buy stocks.
Why it matters: Both Goldman Sachs and Bank of America emphasize the continued resilience of corporations, regardless of tariff policy.
A mischievous little monster with fangs is America's must-have toy — causing fans of all ages to line up and resale prices to soar.
Meet Labubu, the spiky-eared collectible from China and star of the "cute horror" boom.
Why it matters: There were already concerns that President Trump's trade war would lead to toy shortages and higher prices for the holidays before Labubu became the runaway "hot toy."
