All of that bodes well for walmart which is forecast to report a 4 rise in sales. Results from the Worlds Largest retailer should also offer a glimpse into demand for back to school items. Traders are hoping that, despite higher borrowing costs, it will show that us shoppers are still willing to spend on essentials. Staying with retail, jd. Com beat analysts forecast for Second Quarter revenue which rose more than 7 to nearly 40 billion. The chinese e commerce giants Focus On Lower priced products paid off in the fight for customers amid an economic slowdown. The company said it attracted more vendors to its platform and its users shopped more frequently as It Product Range expanded. It was a different story however for tencent where Earning Results came in below estimates in the Second Quarter. Revenue grew 11 to just over 20 billion. Tencent s core Gaming Business experienced weaker than expected growth. Domestic Gaming Revenue was little changed, a sign that the economic slowdown in
13 federal charges against a sitting member of congress. george santos accused of wire fraud, money laundering, stealing public funds. so will republicans call on him to resign with every vote in the house critical? santos due to be arraigned at any moment. public pressure campaign. president biden hitting the road and hitting republicans over a fierce budget standoff. in minutes he s making the case for raising the debt ceiling once again without conditions, with potential economic consequences just weeks away. and heroes in action. newly released audio reveals the terrifying moments as officers search for the texas mall shooter. one officer telling the dispatcher i need everybody i got. chilling words as they ask for backup. we re following these major developing stories and many more, all coming in right here to cnn news central. just minutes from now, new york congressman george santos is expected to appear in federal court. he was taken into custody this morning.
an indictment soon against former president donald trump. cnn has now learned the manhattan district attorney s office has invited trump to testify before a grand jury, all of this connected to the alleged hush money payment to adult film actress stormy daniels in 2016 right before the election. ahead, what it means as prosecutors weigh potential criminal charges. plus, good economic news, the u.s. economy added some 311,000 new jobs last month, that beat analysts expectations by a long shot. wages, unemployment up slightly. what does this all mean for the fed as it continues its fight to cool down inflation. we will break down the numbers. evacuation orders are in effect for parts of california. people along the central coast could see dangerous amounts of rain. we will take you there as residents prepare for yet another massive storm. but we do begin this hour with news in the manhattan district attorney s office signaling it could file criminal charges against former
all of that bodes well for walmart which is forecast to report a 4% rise in sales. results from the world s largest retailer should also offer a glimpse into demand for back to school items. traders are hoping that, despite higher borrowing costs, it will show that us shoppers are still willing to spend on essentials. staying with retail, jd.com beat analysts forecast for second quarter revenue which rose more than 7% to nearly $40 billion. the chinese e commerce giant s focus on lower priced products paid off in the fight for customers amid an economic slowdown. the company said it attracted more vendors to its platform and its users shopped more frequently as it product range expanded. it was a different story however for tencent where earning results came in below estimates in the second quarter. revenue grew 11% to just over $20 billion.
years inflation is finally below 5% p the price of everyday goods rose by 4.9% in april. that beat analysts expectations. the last time that it was that low was actually in april of 2021. the big question is has this streak gone on long enough for the fed to stop hiking interest rates? cnn s matt egan joins us now to break it all down. matt, what are the big takeaways from today s report? well, brianna, inflation last year was kind of like a wildfire that just consumed the economy. that fire hasn t been put out, but every month it does increasingly look like it has been contained. we now have ten straight months of cooling inflation. you can see on that chart there there was this big spike in 2021-2022 that has come down. although we should note the slowdown has sort of leveled out. you can kind of see that on the right side of the chart. also at 4.9% this is still more than twice what the fed is