Is the end nigh?
- Thread starter Gomez Adams
- Start date
Walgreens will be closing around 1,500 stores. Probably more.
One of our major pharmacies has been slowly giving shelf space to it's brand name.
Intel is slashing 15% of its staff as part of a $10 billion plan to reduce costs, the tech company announced in its second-quarter earnings Thursday.
“Simply put, we must align our cost structure with our new operating model and fundamentally change the way we operate,” CEO Pat Gelsinger wrote in a memo Thursday. “Our revenues have not grown as expected — and we’ve yet to fully benefit from powerful trends, like AI. Our costs are too high, our margins are too low.”
This is the number 1 CPU producer on earth.
So Friday, Warren Buffet dumped a shitload of stocks, including over 50% of his position in Apple. He banked over 200 billion dollars in cash.
Today:
Here it comes.
Today:
U.S. stock futures tumbled Monday as part of a global market sell-off centered around U.S. recession fears. Japan’s Nikkei 225 plunged 12% in its worst day since the 1987 Black Monday crash for Wall Street.
Here’s where U.S. stock market futures stand at the moment:
- S&P 500 futures are down 3.2% after the benchmark lost 1.8% on Friday.
- Nasdaq-100 futures lost 4.7% as big tech stocks got hit hard in early trading.
- Dow Jones Industrial Average futures dropped 858 points, or 2.2%, following a 611-point loss on Friday.
Fears of a U.S. recession were the main culprit for the global market meltdown after Friday’s disappointing July jobs report. Investors are also concerned that the Federal Reserve is behind in cutting interest rates to bolster an economic slowdown, with the central bank choosing instead to keep rates at the highest in two decades last week.
Here it comes.