A Portland, Oregon, company is recalling nearly 3.4 million pounds of frozen chicken fried rice products sold at Trader Joe's stores and in Canada. The products may contain pieces of glass. Ajinomoto Foods North America Inc. pulled Trader Joe's Chicken Fried Rice. Another recalled product, Ajinomoto Yakitori Chicken with Japanese-Style Rice, was sold in Canada. The problem was detected after four consumers complained of finding glass. No injuries have been reported. Consumers should not eat the product.
From
To
U.S. stocks fell, while oil prices climbed. The S&P 500 slipped 0.3% Thursday for its first loss in four days. The Dow Jones Industrial Average dropped 0.5%, and the Nasdaq composite lost 0.3%. The company behind Booking.com and Priceline sank to one of the market's sharper losses as worries continue about whether AI competitors could steal away its customers. Such concerns have been rolling through Wall Street recently and hitting various industries. Private-credit companies that lend to businesses seen as possible AI victims also fell sharply. Oil prices rose with worries about a potential U.S.-Iran conflict.
Walmart delivers another quarter of impressive sales, but the retailer's outlook is muted.
AP Top Story Wire
Investigators working on the disappearance of “Today” show host Savannah Guthrie’s mother are consulting with Walmart management to develop leads. That's because a backpack the suspect was wearing is sold exclusively at Walmart stores. Chris Nanos, the sheriff of Pima County, Arizona, told The Associated Press in a text message on Monday that the suspect's “Ozark Trail Hiker Pack” is the only clothing item that has been “definitively identified.” Nancy Guthrie was last seen at her Arizona home on Jan. 31 and was reported missing the following day. The Federal Bureau of Investigation released surveillance videos of a masked person wearing a handgun holster outside Guthrie’s front door the night she vanished.
China has moved to curb a fierce price war among automakers that has caused massive losses for the industry. China’s State Administration for Market Regulation released new guidelines on Thursday to prevent manufacturers from pricing cars too cheaply in order to squeeze out rivals. The China Association of Automobile Manufacturers reported this week that domestic passenger car sales fell 20% in January, compared to a year earlier. Analysts say a cut in tax exemptions for electric vehicles and weaker EV subsidies in several Chinese regions have dampened demand. As domestic car demand slows, Chinese carmakers are expanding their global sales, and exports are expected to grow this year.
U.S. stocks wobbled after feeling both the upside and downside of a surprisingly strong report on the U.S. job market. After initially rising toward its all-time high on Wednesday, the S&P 500 flipped between gains and losses before finishing with a minuscule drop of less than 0.1%. The Dow Jones Industrial Average slipped 0.1%, and the Nasdaq composite fell 0.2%. Treasury yields remained higher in the bond market. The upside of the stronger-than-expected data for stocks is that it could drive continued growth in profits for companies. The downside is that it could discourage the Federal Reserve from cutting interest rates.
Stocks drifted to a mixed finish after flirting with record highs. The S&P 500 fell 0.3% Tuesday after briefly rising above its all-time high, which was set a couple weeks ago. The Dow Jones Industrial Average added 0.1% to its own record, and the Nasdaq composite fell 0.6%. The action was stronger in the bond market, where Treasury yields sank following a discouraging report on how much money U.S. retailers made in December. That raised expectations that the Federal Reserve will cut interest rates later this year to boost the economy.
Eight Saks Fifth Avenue stores and a Neiman Marcus store in Boston will close as their parent company focuses on its most profitable businesses and pares down debt during its Chapter 11 bankruptcy restructuring. Saks Fifth Avenue’ stores that are closing include locations in Philadelphia; Columbus, Ohio and Phoenix. That will leave parent company Saks Global with 25 Saks Fifth Avenue stores and 35 Neiman Marcus stores. The company will continue to operate two Bergdorf Goodman stores. Saks Global also said it also will be winding down 14 standalone Fifth Avenue Club personal styling suites, though it will keep three standalone locations.
Shoppers unexpectedly paused their spending in December from November, closing out the holiday shopping season and the year on a lackluster tone. The report, issued by the Commerce Department on Tuesday, surprised economists who were looking for growth despite mounting concerns about a slowing job growth, uncertainty about President Donald Trump’s tariffs and other economic headwinds. And it raised questions about shoppers’ ability to spend after they have remained resilient for months despite souring consumer confidence, economists said.
Retail sales were flat in December from November, as shoppers wrestled with increasing economic uncertainty.