reported, get this, a stunning 52% drop in first quarter profits, that was just a day after shares in the nation s largest retailer walmart had their worst day in 35 years. what is going on here? they have their fingers on the pulse of the american consumer and they say inflation was the problem, their customers are sticking to the basics when they come in, leaving with fewer items in their shopping carts. those purchasing decisions being driven by sticker shock of course. basics are getting much more expensive, gas up 44% the last year, car, food and shelter also way up. americans are also making more money. wages rising in this tight labor market, but that is also feeding into worries about inflation because of wages. and because of rising prices, people don t feel secure so they are cutting back and that is shaking market confidence. right now stock index futures are leaning lower. asia closed mixed overnight. looks like except for china all down here. let s bring in krist
major develop moons, congress passed a bill giving 14.3 billion in aid to israel, but joe biden threatened to veto it because it does not include money for a cause that is already defeated sadly in ukraine. israeli prime minister netanyahu today says that nothing is going to stop them from going into gaza and getting the job done and now gaza city is surrounded. we re seeing explosions across the night sky. a live report from the ground later in the show. but first, loving china, hating us, the focus of tonight s angle. preparations for the date are underway. what is he going to wear? how long will the conversations last? who is better at small talk? the president is looking forward to meeting with president xi. will not get details about this meeting that is going to happen this month in san francisco. it will be a constructive meeting. laura: constructive for whom, jp morgan, goldman sachs? not the american people. xi does not meet with foreign leaders unless he s prepa
classified briefing on how the ukrainians are using u.s. military support to stymie the russian advance. concern that the longer the war goes on, u.s. weapons stockpiles will be depleted. defense analysts have sounded the alarm. the problem is we ve consumed so much supply in the first 10 months of the war, we ve essentially used up 13 years worth of stinger production and five years worth of jaaf production. the question is how will we resupply, restock the inventories? reporter: high-end precision weapons like the high mars rocket launch system have been a game-changer forcing russia to retreat. the pentagon secretly altered the high-mars rocketing system it s been sending to ukraine shortening the missile capabilities so it can t hit russia. the u.s. sent 20 high mars to ukraine. right maining 18 promised have yet to be produced by lockheed
dialogue with the united states. and turkey feels that it has been frozen out of the fighter jet program in 2019 when president erdogan decided to buy a russian-made anti-missile defense system. and so these are the types of things that are probably going to be in the backdrop of these negotiations. the big question is whether turkey would veto their membership. many defense analysts say that they know that this is a win/win for nato, these are big defense players themselves these two countries. all right, nina, thank you. excellent reporting. the u.s. flag raised once again over the american embassy in kyiv. the state department shut the embassy down three months ago following russia s invasion of ukraine. melissa bell is in keefyiv for . the secretary of state talked about that on late night tv here in the u.s. reporter: that s right, it is
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