Much of the movement of the S&P 500 stock index is driven by just seven stocks. Known as the “Magnificent Seven,” they comprise Nvidia, Apple, Microsoft, Amazon, Meta, Alphabet, and Tesla, and are valued at around $20 trillion. Is this a bubble ready to burst? An overvaluation? Or something else entirely? But before we get to that story, we'll learn more about the first court hearing in a case that tests the Federal Reserve's independence.
Marketplace All-in-One - Goodbye, cheap online shopping
From the BBC World Service: The United States has ended a long-running global tax exemption on imports worth $800 or less. It's kept goods purchased online inexpensive for many American shoppers. We'll hear more. Then, the Japanese defense ministry wants to triple spending on drone manufacturing as part of a $60 billion budget request. And, the last newspaper hawker in Paris has been honored with the Order of Merit by French President Emmanuel Macron.
Reset with Sasha-Ann Simons - Summer Highlights From Reset!
As the summer winds down, we wanted to share some highlights of conversations we’ve had on Reset over the last few months. From our immigration series to conversations with music legends to sitting down with Sasha's mom, we’re looking back on an eventful season.
For a full archive of Reset interviews, head over to wbez.org/reset.
Marketplace All-in-One - Bytes: Week in Review – Spotify is sliding into our DMs
Chipmaker NVIDIA reported quarterly earnings this week and they were strong - better than expected, even. NVIDIA's sales rose last quarter by over 50% though its data center business was a little softer than expected. So why did share prices fall? Plus, OpenAI says it's updating ChatGPT to better handle mental distress. And Spotify is sliding into our DMs. The music streamer has launched a messaging system on its platform. Marketplace’s Meghan McCarty Carino spoke with Jewel Burks Solomon, managing partner at Collab Capital, about all these headlines for this week’s Marketplace Tech Bytes: Week in Review.
PBS News Hour - World - Why European countries want to reimpose harsh sanctions on Iran
Three European countries that were part of the 2015 Iran nuclear deal launched a process to reimpose sanctions that were lifted a decade ago as part of the agreement. France, Germany and the United Kingdom accused Iran of breaking its commitments, starting a 30-day clock that could end with Iran’s economy further squeezed, arms deals halted and foreign assets frozen. Nick Schifrin reports. PBS News is supported by - https://www.pbs.org/newshour/about/funders. Hosted on Acast. See acast.com/privacy
Marketplace All-in-One - What’s really going on in the Trump economy?
The U.S. economy grew faster than expected in the second quarter of the year, with GDP revised up to an annualized 3.3% from April through June. We take a closer look at what's driving those numbers, and check in on how corporate America is faring amid shifting trade policy. Also on the show: the AI data center boom, nuclear power's pop culture moment, and a retired Air Force officer's pivot to interior design.
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Reset with Sasha-Ann Simons - Carol Moseley Braun On Her New Memoir ‘Trailblazer’
In 1991, a high-profile and controversial Supreme Court confirmation hearing led Carol Moseley Braun to run for the U.S. Senate. “The good people of Illinois saw fit to elect me,” Moseley Braun says. That’s when she became the first Black woman to serve in the upper chamber. At the same time, Braun was the first woman senator to represent the state of Illinois in Congress. Braun details her childhood, that journey to Congress and the international success that would follow in a new memoir, “Trailblazer: Perseverance in Life and Politics.” Reset sits down with Carol Moseley Braun to learn more about her Chicago upbringing and storied career.
For a full archive of Reset interviews, head over to wbez.org/reset.
Marketplace All-in-One - A pipeline problem for advanced chip-making jobs
Three years ago, then-President Biden signed the CHIPS and Science Act into law, with hopes of giving the U.S. semiconductor industry a boost amid strategic competition with China. Since then, the federal government has been funneling billions into the sector, including STEM education investments. Yet, according to a new study, there’s still a shortage of skilled workers to fill critical chip production jobs. But first, a recent grad reflects on automation in the job-hunting process.
Marketplace All-in-One - What happens if Trump gets the interest rate he wants?
President Donald Trump has been relentlessly trying to increase control over the Federal Reserve, most recently with his attempt to fire Fed Governor Lisa Cook. The Fed controls the Federal Funds Rate, which is currently at around 4.5%; the president wants it down to 1%. So, what if that happened? We'll outline the ripple effects. Also: Nvidia didn't meet Wall Street’s lofty expectations, and Cracker Barrel’s logo saga shows us the power of upset consumers.
Marketplace All-in-One - Workers take to the streets in Jakarta
From the BBC World Service: Thousands of workers are rallying in Jakarta and 38 other Indonesian provinces to demand higher wages and lower taxes. Plus, BBC data shows cheap goods shipped from China to the United Kingdom more than doubled last year to over $4 billion. And, a Kenyan tech company is encouraging the use of bitcoin in one of Africa’s largest slums in hopes of promoting financial inclusion and boosting the area's economy.