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  • Texas floods: search continues with dozens dead and missing | Texas Floods 2025

    Texas floods: search continues with dozens dead and missing | Texas Floods 2025

    Search for missing continues with at least 51 people killed, including 15 children

    We are restarting our live coverage of the devastating Texas floods.

    Hundreds of rescuers are desperately searching for people missing in central Texas, after torrential rains caused devastating flooding that killed at least 51 people, including 15 children.

    The total number of missing people is not yet clear, but officials say that 27 of them are girls who had been attending Camp Mystic, a Christian youth camp located along the River Guadalupe in Kerr County, the area worst affected by the flood.

    The river rose more than 20 feet in less than two hours overnight into the July 4 holiday.

    Drone footage shows extent of deadly Texas flooding – video

    The flooding in Kerr County killed at least 43 people, including 15 children, and at least eight people died in nearby counties, including Travis County and Tom Green County.

    Searchers used helicopters, boats and drones to look for victims and to rescue people stranded in trees and from camps isolated by washed-out roads.

    Authorities said about 850 people had been rescued, with more than 1,700 people involved in the search-and-rescue operation.

    Texas Governor Greg Abbott vowed that authorities will work around the clock and said new areas were being searched as the water receded. He declared Sunday a day of prayer for the state.

    In a post on X, he wrote that Camp Mystic was “horrendously ravaged in ways unlike I’ve seen in any natural disaster” and vowed that rescuers would find “every girl who was in those cabins”.

    Stay with us as we bring you the latest updates on the floods throughout the day.

    Furniture lie scattered inside a cabin at Camp Mystic after deadly flooding in Kerr County.
    Furniture lie scattered inside a cabin at Camp Mystic after deadly flooding in Kerr County. Photograph: Sergio Flores/Reuters
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    Key events

    The father of Blair, 13, and Brooke Harber, 11, confirmed to CNN yesterday that his daughters had died in the Texas flooding after having gone missing in Kerr County.

    RJ Harber told CNN that Blair “was a gifted student and had a generous kind heart” and that Brooke “was like a light in any room, people gravitated to her and she made them laugh and enjoy the moment”.

    Neither Blair or Brooke were at Camp Mystic when they went missing.

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  • Search intensifies for missing children after deadly Texas floods | Floods News

    Search intensifies for missing children after deadly Texas floods | Floods News

    A devastating flash flood has torn through Texas in the United States, killing dozens, including children, and leaving many others missing.

    Search and rescue teams are working around the clock, deploying helicopters, boats, and drones to search for survivors, some stranded on trees and areas isolated by destroyed roads, and to recover victims’ bodies.

    Camp Mystic, a Christian girls’ summer camp along a river in Kerr County, suffered the most damage, with more than two dozen campers still unaccounted for. The picturesque landscape, with its shallow rivers winding through hills and valleys, creates ideal conditions for deadly flash floods, making it one of the most flood-prone US regions.

    In the early hours of July 4, 2025, floodwaters surged through an area about 112km (70 miles) west of San Antonio that houses summer camps and small communities. At least 50 people have been killed so far, while 27 girls from one camp are still missing.

    The deluge began when heavy rainfall sent water rushing down hillsides into creeks, which then overwhelmed the Guadalupe River.

    By Saturday, rescue personnel searched through a devastated landscape of twisted trees, overturned vehicles, and mud-covered debris in an increasingly urgent effort to find survivors. Authorities have not specified the total number of missing people beyond the children from Camp Mystic.

    The powerful floodwaters rose 26 feet (8 metres) on the Guadalupe in just 45 minutes before dawn on Friday, sweeping away homes and vehicles. The rains continued on Saturday, with flash flood warnings and watches remaining in effect.

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  • Today’s NYT Connections Hints, Answers for July 6, #756

    Today’s NYT Connections Hints, Answers for July 6, #756

    Looking for the most recent Connections answers? Click here for today’s Connections hints, as well as our daily answers and hints for The New York Times Mini Crossword, Wordle, Connections: Sports Edition and Strands puzzles.


    Today’s NYT Connections puzzle could be tough. That purple category almost sounds like one of the goofy TikTok parody Connections categories, like “18th century whaling ships spelled backwards and minus three letters.” That’s not the category, but it feels a little bit like it is. Read on for clues and today’s Connections answers.

    The Times now has a Connections Bot, like the one for Wordle. Go there after you play to receive a numeric score and to have the program analyze your answers. Players who are registered with the Times Games section can now nerd out by following their progress, including number of puzzles completed, win rate, number of times they nabbed a perfect score and their win streak.

    Read more: Hints, Tips and Strategies to Help You Win at NYT Connections Every Time

    Hints for today’s Connections groups

    Here are four hints for the groupings in today’s Connections puzzle, ranked from the easiest yellow group, to the tough (and sometimes bizarre) purple group.

    Yellow group hint: Get the kiln ready.

    Green group hint: Tiny bit.

    Blue group hint: Not nurses or lawyers.

    Purple group hint: Hoo boy. Let’s say, a portion of these words sound like a body part.

    Answers for today’s Connections groups

    Yellow group: Fired objects.

    Green group: Particle.

    Blue group: Drs.

    Purple group: Ending with homophones of parts of the leg.

    Read more: Wordle Cheat Sheet: Here Are the Most Popular Letters Used in English Words

    What are today’s Connections answers?

    completed NYT Connections puzzle for July 6, 2025, #756

    The completed NYT Connections puzzle for Sunday, July 6, 2025, #756.

    NYT/Screenshot by CNET

    The yellow words in today’s Connections

    The theme is fired objects. The four answers are ceramics, china, pottery and ware.

    The green words in today’s Connections

    The theme is particle. The four answers are crumb, grain, morsel and shred.

    The blue words in today’s Connections

    The theme is Drs. The four answers are Dre, Evil, Pepper and Seuss.

    The purple words in today’s Connections

    The theme is ending with homophones of parts of the leg. The four answers are crypto, decaf, Disney and Prussian.

    • Crypto = toe
    • Decaf = calf
    • Disney = knee
    • Prussian = shin

    Quick tips for Connections

    #1: Say the clue words out loud, pausing before and after each. That helps you hear the words in the context of a phrase. The Connections editors love to group words together that are used in similar phrasing, like ____ Up.

    #2: Don’t go for the obvious grouping. These editors are smart. Once, they offered SPONGE, BOB, SQUARE and PANTS in the same puzzle. None of those words were in the same category. If you like, hit the “shuffle” button to give yourself a different perspective on the words.

    #3: Break down any compound words and look for similarities. “Rushmore” was once in a puzzle where the connection was that each word started with the name of a rock band.


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  • Today’s NYT Strands Hints, Answer and Help for July 6 #490

    Today’s NYT Strands Hints, Answer and Help for July 6 #490

    Looking for the most recent Strands answer? Click here for our daily Strands hints, as well as our daily answers and hints for The New York Times Mini Crossword, Wordle, Connections and Connections: Sports Edition puzzles.


    Today’s NYT Strands puzzle is a fun one. The category offers some creative answers, and once you understand the theme, the unscrambling comes easily. If you need hints and answers, read on.

    I go into depth about the rules for Strands in this story. 

    If you’re looking for today’s Wordle, Connections and Mini Crossword answers, you can visit CNET’s NYT puzzle hints page.

    Read more: NYT Connections Turns 1: These Are the 5 Toughest Puzzles So Far

    Hint for today’s Strands puzzle

    Today’s Strands theme is: My hero!

    If that doesn’t help you, here’s a clue: Marvel and DC.

    Clue words to unlock in-game hints

    Your goal is to find hidden words that fit the puzzle’s theme. If you’re stuck, find any words you can. Every time you find three words of four letters or more, Strands will reveal one of the theme words. These are the words I used to get those hints but any words of four or more letters that you find will work:

    • PEST, PETS, PITH, BILE, SUED, POWER, BITE, LIGHT, TOPS, SPOT, GENT, FEED, FEET, RENT, RENTS

    Answers for today’s Strands puzzle

    These are the answers that tie into the theme. The goal of the puzzle is to find them all, including the spangram, a theme word that reaches from one side of the puzzle to the other. When you have all of them (I originally thought there were always eight but learned that the number can vary), every letter on the board will be used. Here are the nonspangram answers:

    • SPEED, FLIGHT, HEALING, STRENGTH, INVISIBILITY

    Today’s Strands spangram

    completed NYT Strands puzzle for July 6, 2025, #490

    The completed NYT Strands puzzle for July 6, 2025, #490.

    NYT/Screenshot by CNET

    Today’s Strands spangram is SUPERPOWER. To find it, look for the S that’s four letters to the right on the bottom row, and wind up.

    Quick tips for Strands

    #1: To get more clue words, see if you can tweak the words you’ve already found, by adding an “S” or other variants. And if you find a word like WILL, see if other letters are close enough to help you make SILL, or BILL.

    #2: Once you get one theme word, look at the puzzle to see if you can spot other related words.

    #3: If you’ve been given the letters for a theme word, but can’t figure it out, guess three more clue words, and the puzzle will light up each letter in order, revealing the word.


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  • Growing pains and absent leaders hang over Brics summit – Financial Times

    Growing pains and absent leaders hang over Brics summit – Financial Times

    1. Growing pains and absent leaders hang over Brics summit  Financial Times
    2. For the first time, Xi is missing a China-backed BRICS summit. Why?  CNN
    3. Brazil hosts BRICS summit; Russia’s Putin, China’s Xi skip Rio trip  Al Jazeera
    4. Leaders of Russia and China snub Brics summit in sign group’s value may be waning  The Guardian
    5. Trump shadow looms as Rio prepares to host BRICS summit  Dawn

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  • Today’s famous birthdays list for July 6, 2025 includes celebrities Kevin Hart, Sylvester Stallone

    Today’s famous birthdays list for July 6, 2025 includes celebrities Kevin Hart, Sylvester Stallone

    Birthday wishes go out to Kevin Hart, Sylvester Stallone and all the other celebrities with birthdays today. Check out our slideshow below to see photos of famous people turning a year older on July 6th and learn an interesting fact about each of them.

    Top celebrity birthdays on July 6, 2025

    Actor Burt Ward, left, who played Robin in the 1960s television series “Batman,” poses with a man dressed as Batman after the character received a star on the Hollywood Walk of Fame, the first such honor for a fictional superhero, Thursday, Sept. 26, 2024, in Los Angeles. (AP Photo/Chris Pizzello)Chris Pizzello/Invision/AP

    Actor Burt Ward turns 80

    Fun fact: Has two daughters, Lisa and Melody

    Sylvester Stallone
    Sylvester Stallone arrives at the premiere of “Sly,” at Roy Thomson Hall during the Toronto International Film Festival, Saturday, Sept. 16, 2023, in Toronto. (Photo by Arthur Mola/Invision/AP)Arthur Mola/Invision/AP

    Actor Sylvester Stallone turns 79

    Fun fact: Was the voice of King Shark in “The Suicide Squad”

    Geoffrey Rush, Gary Oldman
    Geoffrey Rush, left, and Gary Oldman appear in the audience at the 24th annual Screen Actors Guild Awards at the Shrine Auditorium & Expo Hall on Sunday, Jan. 21, 2018, in Los Angeles. (Photo by Vince Bucci/Invision/AP)Vince Bucci/Invision/AP

    Actor Geoffrey Rush turns 74

    Fun fact: Won an Oscar for his leading role in the film “Shine”

    50 Cent
    50 Cent performs during Festival d’ete de Quebec on Friday, July 5, 2024, in Quebec City. (Photo by Amy Harris/Invision/AP)Amy Harris/Invision/AP

    Rapper 50 Cent turns 50

    Fun fact: His middle name is James

    Kevin Hart
    Host Kevin Hart speaks during the BET Awards on Monday, June 9, 2025, at the Peacock Theater in Los Angeles. (AP Photo/Chris Pizzello)Chris Pizzello/Invision/AP

    Actor Kevin Hart turns 46

    Fun fact: Hosted the 2025 BET Awards

    Eva Green
    Eva Green poses for photographers upon arrival for the premiere of the film ‘Battlefield’ during the 81st edition of the Venice Film Festival in Venice, Italy, on Saturday, Aug. 31, 2024. (Photo by Vianney Le Caer/Invision/AP)Vianney Le Caer/Invision/AP

    Actress Eva Green turns 45

    Fun fact: Starred in the 2024 film “Dirty Angels”

    More celebrities with birthdays today

    Singer Gene Chandler is 85. Country singer Jeannie Seely is 85. Actor Fred Dryer is 79. Actor Shelley Hack (TV’s “Charlie’s Angels”) is 78. Actor Allyce Beasley (“Moonlighting”) is 74. Actor Grant Goodeve (“Eight is Enough”) is 73. Jazz trumpeter Rick Braun is 70. Actor Casey Sander (“Grace Under Fire”) is 70. Actor Jennifer Saunders (“Absolutely Fabulous”) is 67. Drummer John Keeble of Spandau Ballet is 66. Actor Pip Torrens (“The Crown”) is 65. Actor Brian Posehn (“Just Shoot Me”) is 59. Actor Robb Derringer (“Days of Our Lives”) is 58. “CBS This Morning” co-host John Dickerson is 57. Rapper Inspectah Deck of Wu-Tang Clan is 55. NBC Sports correspondent and former “Good Morning America” host Josh Elliott is 54. Rapper-actor 50 Cent is 50. Actors Tia and Tamera Mowry (“Sister, Sister”) are 47. Drummer Chris Wood of Bastille is 40. Actor Jeremy Suarez (“Bernie Mac”) is 35.

    Other popular or historical birthdays on July 6th

    Henry Ford Sinclair, Teapot Dome Scandal

    Merv Griffin, tv host and producer

    Janet Leigh, actress

    14th Dalai Lama (90)

    George W. Bush, 43rd U.S. president (79)

    with The Associated Press

    Celebrity fun facts

    Recent lists: Drew Barrymore fun facts | Kaley Cuoco fun facts | Margot Robbie fun facts | Kevin Costner fun facts | Tom Cruise fun facts | Gal Gadot fun facts | Dwayne ‘The Rock’ Johnson fun facts | Reese Witherspoon fun facts

    Popular lists: Robert Downey Jr. fun facts | Emma Watson fun facts | Jason Momoa fun facts | Miley Cyrus fun facts

    Check out our full list of more than 40 celebrity fun facts.

    Movie and TV fun facts & more

    Recent lists: 19 actors recast in the MCU | ‘How I Met Your Mother’ guest stars | ‘Groundhog Day’ fun facts | ‘Yellowstone’ trivia

    Popular lists: Canadian celebrities | ‘Friends’ guest stars | Celebs on ‘The Office’

    Check out our rundown of more than 30 posts featuring trivia and fun facts about movies and TV shows.

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  • What To Expect From the Magnificent Seven in the Second Half of 2025

    What To Expect From the Magnificent Seven in the Second Half of 2025

    Key Takeaways

    • Analysts expect the group of tech giants to continue to benefit from their size and position in the AI race.
    • They also warn that their earnings growth relative to other leading companies may slow. And even in AI, analysts warn, investors may start to look to other stocks in search of gains. 
    • Three of the Mag 7—Nvidia, Microsoft, and Meta—are up double digits since the start of 2025 and are currently trading at or near record highs.

    The Magnificent Seven entered 2025 on a high note. Since then, the tune has meandered all over the place. 

    Looking ahead, analysts expect the group of tech giants to continue to benefit from their size and position in the AI race, which could both fuel future growth and offer protection for investors concerned about trade-fueled uncertainty. But they also warn that their earnings growth relative to other leading companies may slow—and even in artificial intelligence, investors may start to look to other stocks in search of gains. 

    Below, we’ll catch you up on the year so far for the Magnificent Seven—and go into more detail about some of the likely drivers of their performance that await in the months to come. 

    How We Got Here

    xExcitement about AI propelled the tech giants—Apple (AAPL), Microsoft (MSFT), Nvidia (NVDA), Amazon (AMZN), Alphabet (GOOG), Meta (META), and Tesla (TSLA)—to two years of outsized gains. The stocks, like the broader market, were pushed higher by post-election optimism about President-elect Donald Trump’s promises to cut taxes, roll back regulations, and welcome the business community to Washington with wide-open arms. 

    No company stood to benefit more than Tesla, whose CEO Elon Musk was expected to wield immense influence within the White House after publicly, and expensively, supporting Trump’s campaign. Instead, Tesla’s sales–and stock–crashed as Musk took a public role in Trump’s administration that led to both political opposition and concern about his work with the carmaker. 

    Meanwhile, Trump’s tariffs sparked panic on Wall Street that pummeled high-flying tech stocks. By the time Trump paused the tariffs, the Roundhill Magnificent Seven ETF (MAGS) was trading more than 30% below its December high. 

    Things have recovered since. Easing trade tensions, a strong U.S. economy, and resilient businesses helped the “Mag 7” claw back nearly all of those losses in the second quarter, with the Roundhill ETF having edged into the green year-to-date.

    Three of the Mag 7—Nvidia, Microsoft, and Meta—are up double digits since the start of 2025 and are currently at or near record highs. Amazon and Alphabet remain slightly off their records. Apple and Tesla are down 14% and 19%, respectively, year-to-date.

    These tech titans face plenty of risks—including high valuations, ongoing tariff negotiations, and geopolitical tensions that could threaten their businesses—in the second half. But experts say they also have the opportunity to use their size and deep pockets to bolster their positions in AI, which could lead to both long-term gains and near-term share-price benefits.

    Hyperscalers Continue To Spend Big on AI

    At times in the first half of 2025, it looked like tech giants might scale back their AI investments.

    The success of China’s DeepSeek and its efficient AI reasoning model raised questions about whether hyperscalers needed to add as much computing capacity as expected. Trump’s implementation of sweeping tariffs threatened to plunge the U.S. into a period of stagflation and suppress consumer and business spending. 

    Hyperscalers stood by plans to continue spending big on AI. Microsoft, Amazon, Alphabet, and Meta this year all indicated that their cloud and AI businesses were constrained by insufficient computing capacity. Cumulatively, the four companies are expected to spend more than $300 billion on infrastructure in 2025, with much of that earmarked for data centers and equipment required to train and deploy AI. 

    That spending is expected to continue benefitting the companies that design, make, and market the most advanced semiconductors, including Nvidia and Broadcom (AVGO). It should also boost sales of networking technology companies like Arista Networks (ANET), Amphenol (APH), and Coherent (COH).

    Earnings Growth Could Moderate

    The Mag 7 have been the main drivers of S&P 500 earnings growth in the last two years. 

    The group’s profits grew nearly 28% in the first quarter, slightly below their average over the prior three quarters. The remainder of the S&P 500 reported growth of about 9%. The gap between the two groups, now 19 percentage points, was nearly 30 percentage points as recently as the second quarter of 2024.

    That gap is expected to narrow further over the next year, with FactSet projecting the rest of the index’s growth will be on par with the Mag 7’s by the first quarter of 2026.

    A possible caveat: Over the past year, analysts have consistently overestimated how quickly the broader market would catch up with the Mag 7.

    Size Should Be a Bulwark Against Volatility

    Tariffs and economic uncertainty could help the Magnificent 7 in the second half. 

    Analysts at Janus Henderson expect second-quarter U.S. earnings, which kick off with big bank results in mid-July, will come under pressure from tariff anxiety before rebounding later in the year as the trade outlook becomes clearer and mitigation strategies take effect. 

    “Companies with strong balance sheets, scale, pricing power, and supply chain flexibility could weather this earnings pressure and recover faster,” they wrote.

    Most of the Mag 7 operate high-margin businesses. All have scale that should give them a competitive advantage in times of uncertainty. 

    Against “a backdrop of sluggish interim growth and higher-for-longer rate environment, we are likely to see a repeat of the 2023-2024 playbook of unhealthy narrow market leadership and high market concentration,” JPMorgan analysts expect.

    But The AI Trade Is Broadening

    The extent to which the Mag 7 companies are synonymous with the AI trade could decline and take some of the wind out of their stocks’ sails.

    JP Morgan analysts expect “a broadening AI theme” that could “accelerate further with the potential for greater productivity and efficiency gains.” Semiconductor, power, data center, and cybersecurity are their preferred AI themes outside the Mag 7. 

    To be sure, the Mag 7 are still some of Wall Street’s favorite AI stocks. “Our preferred way to play the AI theme are the hyperscalers,” particularly Microsoft, “and key data/analytics consumption names,” including Snowflake (SNOW) and MongoDB (MDB), said Citibank application software analyst Tyler Radtke. 

    Citi analysts covering systems and back-office software have also emphasized the importance of AI monetization in the coming months. Companies that can develop AI programs that improve their customers’ efficiency—like Cyberark (CYBR) in the cybersecurity space and Monday.com (MNDY) in project management software—are best positioned to lead the AI rally, some argue.

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  • Pitch Deck Cerebrium Used to Nab $8.5 Million From Gradient Ventures

    Pitch Deck Cerebrium Used to Nab $8.5 Million From Gradient Ventures

    AI infrastructure platform Cerebrium has raised an $8.5 million seed round led by Gradient Ventures, with participation from Y Combinator and Authentic Ventures.

    Cerebrium, cofounded in Cape Town by CEO Michael Louis and CTO Jonathan Irwin and headquartered in New York, is a platform used by its customers’ engineering teams to build and scale multimodal AI applications — which can process different types of data, including text, images, and audio.

    Cerebrium works across three main categories, Louis said: Voice AI, real-time digital avatars, and healthcare.

    Cerebrium provides the infrastructure building blocks behind the scenes — such as model inference and training, and data processing — allowing engineers to focus on their core product and workflows, Louis told BI. It also helps customers to deploy their applications in different regions.

    “We believe specialized infrastructure, which scales elastically, will be essential as real-time AI becomes core to customer experiences,” Gradient partner Eylul Kayin said in a statement.

    Louis formerly founded the e-commerce startup OneCart, which was acquired by Walmart-owned Massmart in 2021. The idea for Cerebrium came as the team struggled to build machine learning at the on-demand grocery delivery company, Louis said.

    Cerebrium offers serverless CPU and GPU infrastructure that spins up and down quickly, making it ideal for volatile workloads and cost-effective for clients, Louis said. “What that means is you only get charged for that exact time that it was basically running for,” he said.

    The company currently counts only four engineers and is generating millions in annual recurring revenue. It counts among its clients AI-generated video purveyor Tavus and voice AI companies Deepgram and Vapi.

    The company will use funds to hire more engineers to meet enterprise demand and introduce new features, Louis said.

    Here’s a look at the pitch deck Cerebrium used to raise $8.5 million in seed funding. Some slides and details have been redacted in order to share the deck publicly.


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  • Tariff Deadline, Amazon Prime Day, FOMC Minutes

    Tariff Deadline, Amazon Prime Day, FOMC Minutes

    Key Takeaways

    • The deadline for the U.S. to negotiate “reciprocal” tariffs is Wednesday.
    • Federal Reserve meeting minutes, consumer credit levels, and initial jobless claims will also be in focus during the week.
    • Amazon holds its annual Prime Day sale, while Delta Air Lines, Conagra Brands, and Levi Strauss are among the companies scheduled to report earnings.

    The “reciprocal” tariffs deadline, Federal Reserve meeting minutes, and Amazon Prime Day highlight this week’s economic and business calendar.

    Investors will also be watching for data on consumer credit levels and jobless claims. Delta Air Lines and Conagra Brands lead this week’s corporate earnings.

    Markets were at highs at the end of last week’s trading, which was shortened by the Independence Day holiday. The S&P 500 and Nasdaq finished Thursday at record highs, while the Dow wasn’t far off its own high-water mark. President Donald Trump on Friday signed a big taxation-and-spending bill into law.

    Read to the bottom for our calendar of key events—and one more thing.  

    Tariff Deadline, Prime Day, FOMC Meeting Minutes in Spotlight

    After a 90-day pause on the elevated “Liberation Day” tariffs, the deadline for the U.S. to negotiate new deals with a host of trading partners comes Wednesday. Tariffs could go back to the levels announced in April for countries that haven’t yet negotiated a deal. President Trump has announced trade deals, including agreements with the U.K. and Vietnam, but several other countries have yet to reach agreements on the import taxes. Trump said he has ended negotiations with Canada. It’s unclear if Trump will reimpose the tariffs or extend the deadline again for countries that haven’t reached a deal. 

    Wednesday’s release of the minutes from the June Federal Reserve meeting will give investors insight into how Fed officials are viewing the economy, as central bankers watch economic data as they decide how to set interest-rate policy. Reports on consumer credit levels and jobless claims also will be released this week.

    Investors will be watching Amazon (AMZN) as it begins its annual “Prime Day” sale on Tuesday. After sales hit an all-time high at last year’s event, Amazon has extended this year’s sale to four days from two. 

    Corporate earnings reports will trickle in this week, preceding the full start of earnings season the following week. Delta Air Lines (DAL) earnings are scheduled for Thursday, following a quarterly sales increase with higher passenger revenue. Slim Jim parent Conagra Brands (CAG) reports on the same day, coming after an underwhelming previous-quarter earnings report that showed sales and profit declined due to supply constraints.  Levi Strauss (LEVI) also will deliver its quarterly earnings update the same day, as the company grapples with how to handle tariffs. 

    Quick Links: Recap Last Week’s Trading | Latest Markets News

    This Week’s Calendar

    Monday, July 7

    Tuesday, July 8

    • Amazon Prime Day begins
    • Consumer credit (May)
    • More Data to Watch: NFIB small business optimism index (June)
    • Key Earnings: Aehr Test Systems (AEHR)

    Wednesday, July 9

    • U.S. “reciprocal” tariffs deadline
    • Wholesale inventories (May)
    • Minutes for June FOMC meeting
    • Key Earnings: AZZ (AZZ) and Bassett Furniture (BSET)

    Thursday, July 10

    • Initial jobless claims (Week ending July 5)
    • Key Earnings: Delta Air Lines, Conagra Brands, Levi Strauss

    Friday, July 11

    • Monthly U.S. federal budget (June)
    • Amazon Prime Day ends

    One More Thing

    College is a big step for students, but only about one in five of their parents believes they can handle the bills for tuition and other costs. Investopedia’s Elizabeth Guevara takes a closer look at how parents are handling the cost of college.

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  • Ikea Is Cutting Its Restaurant Prices. Here’s Why Retailers Want You to Eat Up.

    Ikea Is Cutting Its Restaurant Prices. Here’s Why Retailers Want You to Eat Up.

    Key Takeaways

    • Ikea recently said it would slash the price of its U.S. in-store menu by half from Monday through Friday.
    • A reputation for serving food worth eating can be good for retailers, industry experts say, making a shopping trip feel more like an experience.
    • And when it’s done right, they say, it can be a draw. 

    Do you go to Ikea for the food? Then the company has good news for you. 

    The home-furnishings retailer recently said it would slash the price of its U.S. in-store menu by half from Monday through Friday, with kids eating for free during the week, starting in August. That will mean lower prices on things like Swedish meatballs, pancakes and salmon fillets at more than 50 stores across the country. 

    “We believe everyone should have access to delicious, nutritious meals without straining their budget,” said Lisa Ford, Ikea’s U.S. food commercial manager, in a statement to Investopedia.

    Big retail chains that sell everything from bulk packs of shampoo, toilet paper and diapers to sofa sets, lamps, clothing and jewelry are looking to up their game when it comes to ready-to-eat meals—and managing prices in a bid to keep shoppers happy and fed. 

    A reputation for serving food worth eating can be good for business, industry experts say, making a shopping trip feel more like an experience. And when it’s done right, it can be a draw. 

    “Retailers are looking to drive more traffic into their locations,” said R.J. Hottovy, head of analytical research with Placer.ai, which analyzes shopper foot-traffic patterns. “They want shoppers to stay longer in the stores and malls and potentially buy more products.”

    Some retailers’ forays into food have scored them runaway hits. Costco’s $1.50 hot-dog-and-soda combo, which debuted in the 1980s, has become a staple for its devoted shoppers.

    It’s not just bargain outlets that offer sustenance. You can enjoy breakfast—or lunch or afternoon tea—at Tiffany’s flagship Fifth Avenue store in New York City. One of the oldest examples of a retailer embracing in-store dining is the Walnut Room, which dates back to 1907 and is found on the 7th floor of Macy’s on Chicago’s State Street.

    Department stores historically aspired to become one-stop shopping destinations for urban populations, said Huseyn Abdulla, assistant professor with the department of supply chain management at the University of Tennessee’s Haslam College of Business. 

    “But it was also a way to keep customers in the department store as long as possible with the intent of converting this traffic into more sales,” he said.

    Ikea has served its meatballs to shoppers for about 40 years. It sells more than a billion of them worldwide a year, and the company says about a fifth of its shoppers go to its stores just to dine.

    The draw, the company says, is the affordable menu, with an average meal—it sells breakfast, lunch and kids’ meals—costing an average of about $11 before the upcoming discounts, Ikea said.

    “One of the pain points for a lot of consumers over the last couple of years has been food inflation and overall food prices,” said Hottovy. “Ikea probably is not going to be making a lot of profit on food but if it gets more people into stores and encourages them to buy something else from its stores, then it’s a smart move.”

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