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Retail sales rose 0.5 percent despite higher prices for gas, food and other goods. But there are signs consumers are under some strain.
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Sales at retailers rose in April for the third month in a row, but the increase stemmed in large part from drivers spending more on gasoline because of higher prices. Spending was on the softer side after adjusting for inflation.
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Cerebras IPO makes billions for Benchmark but VC Eric Vishria almost didn't take the meeting TechCrunchWhy Cerebras AI chips stand out in the Nvidia-dominated market Yahoo FinanceCerebras is the hot new AI chipmaker. Here's Jim Cramer's advice on the stock CNBCFrenzied IPO Highlights Wall Street's AI Fervor WSJ
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NY Plans New Tax on City Homes Over $1 Million Bought With Cash Bloomberg.comLawmakers plan tax on NYC cash home sales, as Hochul details pied-a-terre plan GothamistWhile fears of a New York wealth exodus swirl, sales for city homes worth $10 million or more are going strong. Yahoo FinancePity the poor billionaires - demands for higher taxes must feel hurtful | Arwa Mahdawi The Guardian
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In the age of AI, economic data simply doesn't move markets like it used to.
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Rising gasoline prices pushed inflation to its highest level in almost three years in April. Consumer prices were up 3.8% from a year ago.
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The SEC said a lack of notifications by Vanguard drove higher capital gains tax bills for many retail investors.
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