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Citing a shifting economic situation in the US, Federal Reserve Chair Jerome Powell indicated that the central bank is ready to adjust interest rates during his speech at the Jackson Hole Economic Policy Symposium.

Powell indicated that the Fed’s dual mandate goal is essentially in balance, saying the labor market remains close to maximum employment and that inflation has eased from post-pandemic highs, although it remain elevated.

However, the Fed head also noted that “the balance of risks appears to be shifting,” with significant uncertainty in the economy as a result of higher tariffs, tighter immigration and a slowdown in the pace of growth in the labor market.

“Over the longer run, changes in tax, spending, and regulatory policies may also have important implications for economic growth and productivity,” Powell added in his Friday (August 22) address.

The biggest challenge for the Fed is maintaining its dual mandate of ensuring too much slack doesn’t enter the labor market, which Powell said could happen quickly, while also attempting to ease inflation to the target 2 percent.

“A material slowing in employment growth may not be a signal that the economy is entering a downturn, but a symptom of structural shifts in the economy. For this reason, Powell and others in the Federal Open Market Committee (FOMC) have pointed to the unemployment rate as a more useful indicator of the health of the labor market,” she said.

Although tariffs are likely to take some months to work their way through the economy, with Powell suggesting there is still high uncertainty, he also indicated that “the shifting balance of risks may warrant adjusting our policy stance.”

His remarks are in line with analysts’ expectations of a 25 basis point cut to the benchmark rate in September.

In 2024, the Fed made three cuts: a 50 basis point cut in September, followed by two 25 basis point cuts in October and November. So far, it has not made reductions in 2025; however, it faced dissent from two committee members at its July meeting, the first time more than one member has voted against the committee since December 1993.

The gold price jumped following Powell’s remarks on Friday, gaining nearly 1 percent in morning trading, reaching US$3,370 per ounce by 1:00 p.m. EDT. Silver rose more than 2 percent to hit US$38.94 per ounce.

Equity markets were also in positive territory during morning trading.

The S&P 500 (INDEXSP:INX) climbed 1.49 percent to 6,465 points, and the Nasdaq 100 (INDEXNASDAQ:NDX) rose 1.48 percent to 23,485 points. Meanwhile, the Dow Jones Industrial Average (INDEXDJX:.DJI) surged 2 percent to trade in record territory at 45,687 points.

Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Longtime Republican consultant Roger Stone lambasted Trump adviser-turned-staunch-critic John Bolton following the FBI raid on his Bethesda, Maryland residence on Friday.

‘Good morning. John Bolton. How does it feel to have your home raided at 6 o’clock in the morning?’ Stone riffed on X, six years after the Biden FBI raided his own Fort Lauderdale home in an operation to which CNN was reportedly tipped off to.

‘Wait! Where was CNN?’ added Stone, who has often criticized Republicans who become disloyal to President Donald Trump.

‘What goes around comes around- and Roger Stone still ‘did nothing wrong,’’ he said, quoting the catchphrase and shirts that were circulated after his 2019 raid.

Stone, who began his political career volunteering for 1964 presidential nominee Sen. Barry Goldwater, R-Ariz., before moving on to advising President Richard Nixon, also posted a photo of himself from his arrest wearing a ‘Roger Stone Did Nothing Wrong’ shirt.

Stone continued his critique of Bolton later Friday morning with another X post that included a split photo of the two men:

‘The man on the left had his home rated at 6 am because he did something wrong. The man on the right had his home raided at 6 am because he didn’t. Karma is b—-.’

He later released a mock statement claiming Bolton admitted his signature mustache was ‘appropriated from a member of the Village People.’

Bolton, who held diplomatic posts under Presidents George H. W. and George W. Bush before joining President Donald Trump’s first administration, later broke with Trump over his handling of COVID-19, his approach to diplomacy, and the impeachment saga.

Trump often returned fire at Bolton after their messy breakup, and Stone occasionally chimed in to defend his longtime friend from New York.

After Bolton attacked Trump’s choice of Tulsi Gabbard for director of national intelligence, calling her a ‘serious threat to national security’ – Stone returned fire.

‘Watching war pig John Bolton attack the appointment of Tulsi Gabbard as DNI makes me all the more certain that she is precisely the right person for the job,’ Stone said in November.

After the raid on Bolton’s home, FBI agents were also seen in DuPont Circle, D.C., removing boxes from the Baltimore native’s personal office.

This post appeared first on FOX NEWS

The FBI launched a raid Friday morning into the home and office of John Bolton — President Donald Trump’s national security advisor from 2018 and 2019 — months after Trump yanked Bolton’s security clearance in January upon taking office. 

The two men have a long history of trading barbs following Bolton’s exit from Trump’s first administration — all of which escalated after Bolton sought to publish a memoir in 2020 that included some unflattering details about his time in the White House. 

While Trump has labeled Bolton a ‘wacko’ and a ‘dope,’ Bolton has had his fair share of harsh words for the president. 

‘I don’t think he’s fit for office,’ Bolton said in an interview with ABC News in June 2020, ahead of his memoir’s release. ‘I don’t think he has the competence to carry out the job.’ 

‘There really isn’t any guiding principle that I was able to discern other than what’s good for Donald Trump’s reelection,’ Bolton said at the time. ‘I think he was so focused on the reelection that longer-term considerations fell by the wayside.’ 

Bolton also characterized Trump as lacking focus on policy while being very fixated on himself — to the detriment of national security matters. 

‘His policymaking is so incoherent, so unfocused, so unstructured, so wrapped around his own personal political fortunes, that mistakes are being made that will have grave consequences for the national security of the United States,’ Bolton also said in an ABC interview in June 2020. 

The first Trump administration sought to block the release of Bolton’s memoir, ‘The Room Where It Happened: A White House Memoir,’ and asserted it contained classified material. 

The book alleged that Trump ‘pleaded’ Chinese President Xi Jinping to support Trump’s reelection campaign, and called the president ‘stunningly uninformed.’ 

While the Justice Department attempted to prevent its publication on the grounds that the book disclosed classified matters pertaining to U.S. intelligence sources and methods, a federal judge signed off on the publication of the book, which ultimately was published June 23, 2020. 

Meanwhile, Trump discredited Bolton’s assertions included in the book, and hurled his own insults back at Bolton. 

‘Many of the ridiculous statements he attributes to me were never made, pure fiction,’ Trump said in a social media post June 18, 2020. ‘Just trying to get even for firing him like the sick puppy he is!’ 

‘Wacko John Bolton’s ‘exceedingly tedious’(New York Times) book is made up of lies & fake stories. Said all good about me, in print, until the day I fired him,’ Trump said in a separate social media post on June 18, 2020. ‘A disgruntled boring fool who only wanted to go to war. Never had a clue, was ostracized & happily dumped. What a dope!’

Bolton departed his post at the White House in September 2019. While Bolton said that he left due to his own volition, Trump claimed that he fired Bolton. 

Bolton was not arrested or taken into custody following the raid on his home and office Friday.

Trump told reporters Friday that he had no knowledge of the raid and learned about it watching TV. 

‘He’s a, not a smart guy,’ Trump said Friday. ‘But he could be a very unpatriotic. I mean, we’re going to find out. I know nothing about it. I just saw it this morning. They did a raid.’ 

This post appeared first on FOX NEWS

The Trump administration began handing over documents related to Jeffrey Epstein’s case to the House Oversight Committee on Friday, a spokesperson for the panel said.

House Oversight Chair James Comer, R-Ky., has committed to making the documents public in the interest of transparency, albeit after a committee review for sensitive information related to Epstein’s victims.

‘The production contains thousands of pages of documents. The Trump DOJ is providing records at a far quicker pace than anything the Biden DOJ ever provided,’ the spokesperson told Fox News Digital.

‘The Committee intends to make these records public after thorough review to ensure any victims’ identification and child sexual abuse material are redacted. The Committee will also consult with the DOJ to ensure any documents released do not negatively impact ongoing criminal cases and investigations.’

The spokesperson added that the Trump DOJ was complying with Comer’s subpoena at a quicker pace than former Biden administration Attorney General Merrick Garland did in handing over materials related to Special Counsel Robert Hur’s investigation into ex-President Joe Biden’s handling of classified documents.

House investigators originally requested the Department of Justice (DOJ) produce a tranche of files pertaining to the late pedophile and his accomplice, Ghislaine Maxwell, by 12 p.m. on Tuesday, Aug. 19. 

It’s part of a wider bipartisan investigation into the handling of Epstein’s case, which has also reached several former attorneys general, FBI directors, and former first couple Bill and Hillary Clinton.

Comer announced Monday afternoon that he would delay the deadline until Friday in light of the DOJ’s cooperation.

‘Officials with the Department of Justice have informed us that the Department will begin to provide Epstein-related records to the Oversight Committee this week on Friday. There are many records in DOJ’s custody, and it will take the Department time to produce all the records and ensure the identification of victims and any child sexual abuse material are redacted,’ Comer said in a statement.

‘I appreciate the Trump administration’s commitment to transparency and efforts to provide the American people with information about this matter.’

Requested materials included all documents and communications in the DOJ’s possession relating to both Epstein and Maxwell, as well as files ‘further relating or referring to human trafficking, exploitation of minors, sexual abuse, or related activity.’

Documents relating specifically to the DOJ’s prosecutions of Epstein and Maxwell, Epstein’s 2007 non-prosecution agreement with federal prosecutors in Florida, and any materials related to Epstein’s death were requested.

The House Oversight Committee asked for the documents to be largely unredacted, according to a subpoena obtained by Fox News Digital, ‘except for redactions to protect the personally identifiable information of victims, for any child sex abuse material as defined by the Department of Justice Manual, and any other redactions required by law.’

The deadline comes a day after former Attorney General Bill Barr was deposed by the House Oversight Committee behind closed doors. Barr was the first person scheduled to appear in the committee’s probe under subpoena.

The Clintons both have separate deposition dates scheduled for October.

Comer was directed to send the flurry of subpoenas after a House Oversight Committee subcommittee panel voted in favor of them during an unrelated hearing in July.

Renewed furor over Epstein’s case engulfed Capitol Hill after intra-GOP fallout over the Trump administration’s handling of the matter.

The DOJ effectively declared the case closed after an ‘exhaustive review,’ revealing Epstein had no ‘client list,’ did not blackmail ‘prominent individuals,’ and confirmed he did die by suicide in a New York City jail while awaiting prosecution.

In response to the backlash by some on the right, Trump directed the DOJ to release grand jury testimony related to Epstein – a request that’s been tied up in courts since then – while Attorney General Pam Bondi had her deputy, Todd Blanche, interview Maxwell in person to uncover any possible new information.

Comer also subpoenaed Maxwell but agreed to defer her scheduled deposition until after the Supreme Court heard her appeal to overturn her conviction.

Fox News Digital reached out to the DOJ for comment but did not immediately hear back.

This post appeared first on FOX NEWS

Justice Ketanji Brown Jackson criticized on Thursday what she said were the ‘recent tendencies’ of the Supreme Court to side with the Trump administration, providing her remarks in a bitter dissent in a case related to National Institutes of Health grants.

Jackson, a Biden appointee, rebuked her colleagues for ‘lawmaking’ on the shadow docket, where an unusual volume of fast, preliminary decisionmaking has taken place related to the hundreds of lawsuits President Donald Trump’s administration has faced.

‘This is Calvinball jurisprudence with a twist. Calvinball has only one rule: There are no fixed rules. We seem to have two: that one, and this Administration always wins,’ Jackson wrote.

The liberal justice pointed to the Oxford English Dictionary’s definition of Calvinball, which describes it as the practice of applying rules inconsistently for self-serving purposes.

Jackson, the high court’s most junior justice, said the majority ‘[bent] over backwards to accommodate’ the Trump administration by allowing the NIH to cancel about $783 million in grants that did not align with the administration’s priorities.

Some of the grants were geared toward research on diversity, equity and inclusion; COVID-19; and gender identity. Jackson argued the grants went far beyond that and that ‘life-saving biomedical research’ was at stake.

‘So, unfortunately, this newest entry in the Court’s quest to make way for the Executive Branch has real consequences, for the law and for the public,’ Jackson wrote.

The Supreme Court’s decision was fractured and only a partial victory for the Trump administration.

In a 5-4 decision greenlighting, for now, the NIH’s existing grant cancellations, Chief Justice John Roberts sided with the three liberal justices. In a second 5-4 decision that keeps a lower court’s block on the NIH’s directives about the grants intact, Justice Amy Coney Barrett, a Trump appointee, sided with Roberts and the three liberals. The latter portion of the ruling could hinder the NIH’s ability to cancel future grants.

The varying opinions by the justices came out to 36 pages total, which is lengthy relative to other emergency rulings. Jackson’s dissent made up more than half of that.

George Washington University law professor Jonathan Turley observed in an op-ed last month a rise in ‘rhetoric’ from Jackson, who garnered a reputation as the most vocal justice during oral arguments upon her ascension to the high court.

‘The histrionic and hyperbolic rhetoric has increased in Jackson’s opinions, which at times portray her colleagues as abandoning not just the Constitution but democracy itself,’ Turley said.

Barrett had sharp words for Jackson in a recent highly anticipated decision in which the Supreme Court blocked lower courts from imposing universal injunctions on the government. Barrett accused Jackson of subscribing to an ‘imperial judiciary’ and instructed people not to ‘dwell’ on her colleague’s dissent.

Barrett, the lone justice to issue the split decision in the NIH case, said challenges to the grants should be brought by the grant recipients in the Court of Federal Claims.

But Barrett said ‘both law and logic’ support that the federal court in Massachusetts does have the authority to review challenges to the guidance the NIH issued about grant money. Barrett joined Jackson and the other three in denying that portion of the Trump administration’s request, though she said she would not weigh in at this early stage on the merits of the case as it proceeds through the lower courts.

Jackson was dissatisfied with this partial denial of the Trump administration’s request, saying it was the high court’s way of preserving the ‘mirage of judicial review while eliminating its purpose: to remedy harms.’

This post appeared first on FOX NEWS

The National Academies of Sciences, Engineering, and Medicine — a largely taxpayer-funded body that has taken in hundreds of millions in federal dollars — is facing pushback for fast-tracking a climate review that critics say is an attempt to undermine the Trump administration’s energy agenda.

Earlier this month, Politico reported that NASEM is using ‘internal funding’ to pay for a review that will be released in September in order to ‘inform’ the Environmental Protection Agency’s move to rescind the Obama-era greenhouse gas endangerment finding, a cornerstone of climate regulation that conservatives say has strangled American energy production.

That effort is being led by molecular biologist Shirley M. Tilghman who, in addition to being a member of NASEM, serves as an External Science Advisor to the Science Philanthropy Alliance, a group tied to the progressive consulting behemoth Arabella Advisors through the New Venture Fund, a nonprofit that pushes a variety of progressive causes. 

Critics tell Fox News Digital they have concerns about the timing of this move and the possible political motives attached to the fast-tracked review. 

‘NASEM’s decision to do a fast-track study on greenhouse gas emissions and endangerment in response to the EPA rule undermines the legitimacy of the National Academies,’ Daren Bakst, Director of the Competitive Enterprise Institute’s Center for Energy and Environment, told Fox News Digital. 

‘The process shows the numerous problems with what they are doing. On August 7, NASEM announced they were doing a report to be finished in September. That is an incredible rush job that by itself undermines the legitimacy of what they are doing. Likely, the report has already been written in whole or in part, given the timing. This rush gives the impression they have their conclusions and are just working backwards. ‘

Conservatives have long argued that groups tied to Arabella Advisors operate as a ‘dark money’ network, influencing policy debates and shaping research priorities behind the scenes. This dynamic reflects a growing entanglement between research institutions and ideologically driven funding streams. 

The concern is heightened by the fact that NASEM derived roughly 58% of its budget from federal funds in 2024. The New York Times reported that ‘about 70%’ of the budget came from federal funds in 2023. 

‘To me, it seems like a move to protect NASEM’s position as the gatekeeper of official science,’ Travis Fisher, director of energy and environmental policy studies at the Cato Institute, told Fox News Digital. ‘I think it’s appropriate to ask whether government-funded researchers and organizations might have a conflict of interest in setting the terms of the climate debate. For example, it’s clear that more alarm means more research funding.’

Regarding the Arabella connection, Fisher said that ‘any overlap’ between the NASEM effort and political advocacy groups ‘deserves scrutiny.’

‘I’d like to know who pushed for NASEM’s involvement in the first place and whether ideological groups applied any pressure to get NASEM to join the political fray,’ Fisher said. ‘In any case, I’m surprised to see NASEM inject itself into inherently political fights over EPA policy.’

James Taylor, President of the Heartland Institute, told Fox News Digital that NASEM is a ‘leftist’ and ‘statist’ institution that is ‘funded by and dependent on big government.’

Fox News Digital previously reported that NASEM, sometimes referred to as NAS, has raked in hundreds of millions of dollars of taxpayer funds in recent years while doling out hefty salaries to its top brass and bankrolling a variety of left-wing initiatives. 

‘It has long since stopped being a scientific organization and is now merely a political one,’ Taylor said. 

‘For example, in a recent so-called climate science assessment, only 22% of the authors had PhDs, which was equaled by the 22% of authors who worked for environmental activist groups. Counting Democrat politicians who were also co-authors, the NAS assessment had more environmental activists writing the report than actual scientists. NAS is a joke and has no credibility at all.’

In a statement to Fox News Digital, a NASEM spokesperson said, ‘This fast-track study is being funded by private donations, and is intended to inform public comments requested by EPA.’

‘The New Venture Fund is a 501(c)(3) organization that uses a fiscal sponsorship model to support a wide range of nonpartisan projects,’ a New Venture Fund spokesperson told Fox News Digital. ‘We fully support efforts to increase funding for foundational science and proudly served as Science Philanthropy Alliance’s fiscal sponsor until it spun off in 2023.’

‘Arabella Advisors is an independent organization and one of our many vendors. They do not ‘manage’ New Venture Fund or have any say in our funding or fiscal sponsorship decisions.’

The revelation comes as the Trump administration seeks to rescind the Obama-era greenhouse gas endangerment finding, a cornerstone of climate regulation that critics say has strangled American energy production.

The 45-day public comment period for the proposal is set to end in mid-September. 

The 2009 Endangerment Finding, issued by the Environmental Protection Agency (EPA), declared that greenhouse gases like carbon dioxide, methane and nitrous oxide ‘threaten both the public health and the public welfare of current and future generations.’

This finding established the EPA’s legal obligation under the Clean Air Act to regulate greenhouse gas emissions.

In March, EPA Administrator Lee Zeldin pledged to roll back the assessment, claiming it has fueled an avalanche of regulations that have cost the U.S. economy over $1 trillion. He doubled down again in July during a speech in Indiana, delivered against a backdrop of trucks, while slamming the Biden-Harris Administration’s electric vehicle mandate.

‘With this proposal, the Trump EPA is proposing to end sixteen years of uncertainty for automakers and American consumers,’ Zeldin said, adding that regulatory relief will give U.S. consumers affordable choices when car shopping.

An Arabella spokesperson told Fox News Digital that Arabella ‘does not fund any organizations.’

‘We are a professional services firm that provides administrative and operational support such as compliance, HR, and accounting to nonprofit clients. We are not a donor and we are not a funder.’

This post appeared first on FOX NEWS

Walmart on Thursday raised its full-year earnings and sales outlook as its online business posted another quarter of double-digit gains, even as the company said costs are rising from higher tariffs.

The big-box retailer topped Wall Street’s quarterly sales estimates but fell short of earnings expectations, the first time it missed on quarterly earnings since May 2022. The company said it felt pressure on profits for the period, including from some one-time expenses, such as restructuring costs, pricier insurance claims and litigation settlements.

Walmart said it now expects net sales to grow 3.75% to 4.75% for the fiscal year, up from its previous expectations of 3% to 4%. It raised its adjusted earnings per share outlook slightly to $2.52 to $2.62, up from a prior range of $2.50 to $2.60 per share.

In an interview with CNBC, Chief Financial Officer John David Rainey said the company is working hard to keep prices low — including speeding up imports from overseas and stepping up the number of Rollbacks, or limited-time discounts, in its stores.

“This is managed on an item-by-item and category-by-category basis,” he said. “There are certainly areas where we have fully absorbed the impact of higher tariff costs. There are other areas where we’ve had to pass some of those costs along.”

But he added “tariff-impacted costs are continuing to drift upwards.”

Even so, Rainey said Walmart hasn’t seen a change in customer spending. For example, sales of private label items, which typically cost less than national brands, were roughly flat year over year, he said.

“Everyone is looking to see if there are any creaks in the armor or anything that’s happening with the consumer, but it’s been very consistent,” he said. “They continue to be very resilient.”

Yet on the company’s earnings call, CEO Doug McMillon said middle- and lower-income households have been more sensitive to tariff-related price increases, particularly in discretionary categories.

“We see a corresponding moderation in units at the item level as customers switch to other items, or in some cases, categories,” he said.

Here’s what the big-box reported for the fiscal second quarter compared with what Wall Street expected, according to a survey of analysts by LSEG:

Walmart shares fell about 2% in premarket trading Thursday.

Walmart’s net income jumped to $7.03 billion, or 88 cents per share, in the three-month period that ended July 31, compared with $4.50 billion, or 56 cents per share, in the year-ago quarter.

Revenue rose from $169.34 billion in the year-ago quarter.

Comparable sales for Walmart U.S. climbed 4.6% in the second quarter, excluding fuel, compared with the year-ago period, as both the grocery and health and wellness category saw strong growth. That was higher than the 4% increase that analysts expected. The industry metric, also called same-store sales, includes sales from stores and clubs open for at least a year.

At Sam’s Club, comparable sales jumped 5.9% excluding fuel, higher than the 5.2% that analysts anticipated.

E-commerce sales jumped 25% globally and 26% in the U.S., as both online purchases and advertising grew. In the U.S., Walmart said sales through store-fulfilled delivery of groceries and other items grew nearly 50% year over year, with one-third of those orders expedited. The company charges a fee for some of those faster deliveries, and others are included as a benefit of its subscription-based membership program, Walmart+.

Its global advertising business grew 46% year over year, including Vizio, the smart TV maker it acquired for $2.3 billion last year. Its U.S. advertising business, Walmart Connect, grew by 31%.

As Walmart’s online business drums up more revenue from home deliveries, advertising and commissions from sellers on its third-party marketplace, e-commerce has become a profitable business. The company marked a milestone in May — posting its first profitable quarter for its e-commerce business in the U.S. and globally.

Rainey said on Thursday that Walmart doubled its e-commerce profitability in the fiscal second quarter from the prior quarter.

In the U.S., shoppers both visited Walmart more and spent more on those trips during the quarter. Customer transactions rose 1.5% year over year and average ticket increased 3.1% for Walmart’s U.S. business.

As the largest U.S. retailer, Walmart offers a unique window into the financial health of American households. As higher duties have come in fits and starts — with some getting delayed and others going into effect earlier this month — Wall Street has tried to understand how those costs will ripple through the U.S. economy.

Walmart warned in May that it would have to raise some prices due to higher levies on imports, even with its size and scale. The company’s comments drew the ire of President Donald Trump, who said in a social media post that Walmart should “EAT THE TARIFFS.”

About a third of what Walmart sells in the U.S. comes from other parts of the world, with China, Mexico, Canada, Vietnam and India representing its largest markets for imports, Rainey said in May.

According to an analysis by CNBC of about 50 items sold by the retailer, some of those price changes have already hit shelves. Items that rose in price at Walmart over the summer included a frying pan, a pair of jeans and a car seat.

Rainey on Thursday declined to specify items or categories where Walmart had increased prices, saying the company is “trying to keep prices as low as we can.”

He said one of the company’s strategies has been bringing in inventory early, particularly for Sam’s Club as it gets ready for the second half of the fiscal year and its crucial holiday season. At the end of the quarter, inventory was up about 3.5% at Sam’s Club, Rainey said. It was up 2.2% for Walmart U.S.

On the company’s earnings call, McMillon said the impact of tariffs has been “gradual enough that any behavioral adjustments by the customer have been somewhat muted.”

“But as we replenish inventory at post-tariff price levels, we’ve continued to see our costs increase each week, which we expect will continue into the third and fourth quarters,” he said.

Yet even with higher costs from tariffs, Walmart has fared better than its retail competitors as it has leaned into its reputation for value, competed on faster deliveries to customers’ homes and attracted more business from higher-income households.

The Arkansas-based retailer’s performance has diverged sharply from rival Target, which posted another quarter of sales declines on Wednesday and named the new CEO who will be tasked with trying to turn around the company.

Walmart has gained from Target’s struggles. It has followed the Target playbook by launching more exclusive and trend-driven brands, including grocery brand BetterGoods and activewear brand Love & Sports. It has also expanded its third-party marketplace to include prestige beauty brands and more.

Sales of general merchandise, items outside of the grocery department, were a bright spot for Walmart in the fiscal second quarter, Rainey said. That category struggled during peak inflation in recent years, as consumers spent less on discretionary items because of rising grocery bills.

Comparable sales for general merchandise rose by a low-single-digit percentage and accelerated throughout the quarter, Rainey told CNBC. He added clothing and fashion sales “really shined for us.”

This post appeared first on NBC NEWS

Shares of Cracker Barrel Old Country Store plummeted roughly 10% on Thursday after the restaurant unveiled its new logo earlier this week as part of a larger brand refresh.

The new logo removes the image of a man leaning against a barrel that was prominently featured in the original, leaving behind just the words Cracker Barrel against a yellow background. The phrase “old country store” has also been removed.

The company said the colors in the logo were inspired by the chain’s scrambled eggs and biscuits.

Cracker Barrel’s new logo.Cracker Barrel

The change is part of a “strategic transformation” to revitalize the brand that started back in May 2024. Under that mission, Cracker Barrel’s brand refresh includes updates to visual elements, restaurant spaces and food and retail offerings.

Cracker Barrel said in March that the refresh will still maintain the brand’s “rich history of country hospitality” and “authentic charm that has made the brand a beloved destination for generations of families.”

“We believe in the goodness of country hospitality, a spirit that has always defined us. Our story hasn’t changed. Our values haven’t changed,” Chief Marketing Officer Sarah Moore said in a media release.

However, many social media users have criticized the new logo, especially those in conservative circles. The president’s son, Donald Trump Jr., amplified a post on Wednesday suggesting that the logo change was led by CEO Julie Felss Masino to erase the American tradition aspect of the branding and make it more general, as a way of leaning into diversity, equity and inclusion efforts.

Conservative activist Robby Starbuck added his commentary on Thursday, writing in a post on X, “Good morning @CrackerBarrel! You’re about to learn that wokeness really doesn’t pay.”

The company has a relatively small market cap of about $1.2 billion compared with other restaurant chains.

Customers have also complained on social media about the interior redesign of many Cracker Barrel restaurants, saying that the new decor favors a more sterile and modern style over its tried-and-true country feel.

On the restaurant’s latest earnings call in June, Masino said Cracker Barrel had completed 20 remodels and 20 refreshes. She said the company will be sharing more information about the remodeling initiative in September.

“Employees had given us great feedback about working in those newly remodeled and refreshed stores and guests continue to tell us that they’re lighter, brighter, more welcoming and they’re enjoying them,” Masino said on the call.

Cracker Barrel is not the only stock to see large swings based on political social media posts.

Earlier this month, shares of American Eagle soared after Trump posted that an ad featuring Sydney Sweeney, which faced significant social media pushback from the left, was “the ‘HOTTEST’ ad out there.”

Back in 2023, Anheuser-Busch InBev faced heavy criticism from conservatives after a collaboration between Bud Light and social influencer Dylan Mulvaney, who is transgender.

This post appeared first on NBC NEWS

Providence Gold Mines Inc. (“Providence” or the “Company”) announces that subject to Regulatory approval it has entered an option agreement to acquire the “La Dama de Oro Gold Property”. The property is a historical gold mine 100% owned by the Optionor, (” Mohave Gold Mining”), a private Company incorporated under the laws of the state of California.

Providence recently commissioned Ethos Geological Inc. of Bozeman MT to complete an NI 43 101 technical report, authored by Zachary Black, SME-RM acting as the Qualified Person under NI 43 101. The NI 43 101 technical report has been submitted for Exchange review and approval. A cautionary note: The property is at an early exploration stage and does not have sufficient data for a mineral resource.

The La Dama de Oro Property is situated in the Silver Mountain Mining District, within the structurally complex Eastern California Shear Zone and the intersection with the San Andreas Fault Zone. Bedrock geology includes Mesozoic quartz monzonite that intrudes the Jurassic Sidewinder Volcanics. The structural history of the region implies a sequence of compressional and extensional events that reactivated favorably oriented zones of weakness for the circulation of hydrothermal fluids. The main zone of mineralization is hosted by the La Dama de Oro Fault, a shallow northeast-dipping oblique-slip fault.

The mineralization at the property is classified as a structurally controlled, low-sulfidation epithermal gold-silver vein system. Gold and silver mineralization is associated with multi-phase quartz veining, brecciation, and pervasive hydrothermal alteration along the La Dama de Oro Fault. The largest known vein is 4.5 feet at its widest point and remains open to exploration, with the potential for additional undiscovered veins along the fault system. The property has an approved exploration permit that includes a bulk sample.

The Option entitles the Company the right to purchase 100% of the La Dama de Oro Gold Property under the following terms:

YEAR 1

Within 15 days of Regulatory approval the Company shall issue 2,000,000 common shares from treasury and incur $20,000 in expenditures within 12 months of the effective date.

YEAR 2

The Company shall issue an additional 2,000,000 common shares from treasury and incur $250,000 in expenditures before the second-year anniversary of the effective date

YEAR 3

The Company shall issue an additional 500,000 common shares from treasury and incur a further $250,000 in expenditures before the third-year anniversary date of the effective date

YEAR 4

The Company shall incur an additional $250,000 expenditures before the fourth-year anniversary of the effective date

Ronald A. Coombes, President & CEO of Providence commented; “The best place to explore for gold is where gold is, with the rich historical history of past gold production at the La Dama de Oro mine there remains very good discovery potential”.

The scientific and technical information contained in this news release has been reviewed and approved by Zachary Black, SME-RM, a Qualified Person as defined under NI 43-101. Mr. Black is a consultant and is independent of Providence Gold Mines Inc.

For more information, please contact Ronald Coombes, President, and CEO of the Company.

Ronald A. Coombes, President & CE

Phone: 604 724 2369

roombes@providencegold.com

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

Neither the OTCQB and or the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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ESGold (CSE:ESAU,OTCQB:ESAUF) has signed a binding memorandum of understanding with Colombian firm Planta Magdalena to form a 50/50 joint venture on a fully permitted gold- and silver-bearing tailings project.

Under the agreement, ESGold will invest C$1.5 million for its stake and will retain a first right of refusal to acquire the remaining 50 percent interest from Planta Magdalena within 12 months.

The project is designed to replicate ESGold’s Montauban model in Québec, which focuses on generating cashflow by reprocessing legacy tailings, while providing environmental remediation.

Preliminary due diligence sampling of 27 tailings collected from the project, located in Colombia’s Bolívar department, returned encouraging results, including assays of 42.7 grams per metric ton (g/t) gold and 280 g/t silver.

Several samples exceeded 5 g/t gold and 190 g/t silver, highlighting the potential for high-grade recovery.

Bulk concentrate tests are underway, with final verification to be completed at Actlabs in Québec.

Bolívar is one of Colombia’s most prolific gold regions, with artisanal miners processing an estimated 300,000 metric tons of ore annually. ESGold, a self-described scalable clean mining and exploration innovation company, plans to apply modern, mercury-free recovery methods to improve yields while addressing environmental concerns.

“The region still processes hundreds of thousands of metric tons of ore annually, yet much of it is handled using rudimentary mercury amalgamation methods that leave behind a substantial amount of gold and silver in the tailings,” said Gordon Robb, CEO of ESGold. “This creates an immense opportunity for ESGold to apply modern, environmentally responsible recovery technology that can significantly improve yields while remediating legacy mine sites.”

Pending completion of technical and legal due diligence, ESGold aims to fast track the project toward production in 2026, establishing a second high-margin operation alongside Montauban.

Green revenue stream

It is estimated that there are 8,500 tailings facilities around the globe, holding more than 217 billion cubic meters of mine ‘waste.’ In an effort to reduce the amount of stored tailings and their environmental impact, tailings reprocessing is emerging as both an economic and sustainable revenue stream.

By extracting valuable residual metals, such as gold, copper and critical minerals, from legacy waste, companies can generate revenue while reducing the environmental footprint of tailings facilities.

The approach also aligns with sustainability goals, as it mitigates risks like tailings dam failures and restores degraded sites, turning longstanding liabilities into productive assets

Globally, the growing recognition of untapped value in tailings has spurred renewed interest and investment, with major miners — like Vale (NYSE:VALE) — and governments prioritizing tailings projects as part of circular mining strategies and critical minerals security.

Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.

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