Retail Sales Notch Higher for Third Straight Month
Here. The extraordinary secrets of how to thrive disrupted world, the old rules of management are not ready, correct anymore. So what works making a wise, pivot, pivot to the future, with will I am and Omar Abba, subscribe wherever you get your podcasts. The month of may brought more good news for the US retail sector. We saw that retail sales increase pretty strongly in may, and that follows a solid, April reading too. So overall consumers are doing pretty well and showing resilience. This is what's news from the Wall Street Journal time Ameri for totally in New York. Before we get to US, retail sales here are some other top stories we're following this afternoon, we reported on this morning's edition of the podcast, that tensions between the US and Iran are threatening key shipping routes in the Gulf of Oman. Heightened tensions continued Friday with Iran denying responsibility for attacks on two fuel tankers in the Gulf, President Trump echoed, other US officials asserting that Iran is to blame in an interview with Fox News on Friday tensions between the US and Iran have been rising. The US has imposed new sanctions on the country after withdrawing from the twenty fifteen nuclear deal the US and its allies have accused Iran of orchestrating a series of attacks in recent weeks, including other attacks on four ships in the Persian Gulf last month, as well as drone attacks on who the rebels in Saudi Arabia. Wikileaks founder Julian Assange appeared via video link before a British court on Friday. Where a judge set the date for his full US extradition hearing for next year. The Wall Street Journal's Joanna sug Dan has more. Details from London. This was a preliminary stage in his extra hearing weather, US government counsel, laid out some of the charges against him. They accused him of the largest compromise of classified information in the living history of the United States, and the accused him of having conspired along with Chelsea Manning to hack a government computer, Mr. sons denied having a computer and denied that we links was in the business of hacking, he said that nobody should be fooled into thinking that weeks was anything but a publish his legal team said that the charges against him amounted to a full frontal assault on Genesee rights on just full US extradition. Hearing has been set for next year at the end of February. Facebook is planning to increase its advertising spending the company's marketing chief Antonio, Lucio says Facebook could more than double its spending as it works on campaigns for brands under its umbrella, and colluding, what's app, an Instagram. He also acknowledged that the company has made mistakes, and that Facebook's reputation has suffered from election interference and misinformation on the platform. He says Facebook has already started to rebuild trust with consumers with the redesign of its website and app that allow for war privacy. Here. The extraordinary secrets of how to thrive in a disrupted world old rules of management are not ready, correct anymore. So what works making a wise proven, pivot to the future. Will I am Omar Abbas, subscribe wherever you get your podcasts. Retail sales notched a third straight month increases in may showing consumers are willing to spend even amid continued trade tensions. Joining me now from Washington is Wall Street Journal reporter Sara Cheney the Syra consumer spending makes up about two-thirds of the nation's economic output. So what did we learn from the latest report about the health of the US retail sector? We saw that retail sales increase pretty strongly in may, and that follows a solid, April reading too. So overall consumers are doing pretty well and showing resilience Sarah, what are there, any particular segments in the retail sector that we saw that did particularly well in may? So it was pretty broad based, which is always a good signal for the economy. We saw retail sales rose and electronics sporting goods restaurants. Those are all sort of discretionary spending. Categories. So it shows that people have more money in their pockets, and they're, they're willing to go out and shop, some let's talk a little bit about inflation. We know the Federal Reserve keeps a close eye on that. And it's been running below their two percent. Target is the may retail report, a potential concern there. So really for consumers will inflation is good rates. So if you're going out to a store, and you're not seeing huge price increases. That's good for you. You can probably spend a little more money than you, otherwise would for the Federal Reserve at present somewhat of a dilemma, because it's been undershooting there two percent annual inflation target trade tensions, of course, continue to be in the headlines and the latest tariffs on China hit consumer goods. Are we seeing that impact retail sales at also far it's really hard to say at this point, but retailers could feel the squeeze from tariffs in coming months? The trump. Administration put tariffs of twenty five percent on billions of dollars of goods imported from China, the impacts products ranging from clothing to handbags to furniture in so merchants could either absorb the added costs from the price increases themselves, or they might have to pass them along to vendors or even consumers, but that remains to be seen in the coming months. That's Wall Street Journal reporter Sara Cheney joining us from Washington with more on the latest retail sales report. Thanks so much. Sara. Thank you. Now onto some more headlines from the Wall Street Journal. Bayer plans to invest more than five billion dollars over the next ten years on developing weedkillers as the company faces thousands of lawsuits, alleging that roundup the weed killer it inherited through its acquisition of Monsanto causes cancer. The company has lost the first three jury trials over round up all of which it is appealing as it continues to defend the product safety. Bayer says glysophate the active ingredient in roundup will continue to play a role in its portfolio. The company says on its website that it is working on more precise weedkillers, as well as cutting its environmental impact by thirty percent by the year, twenty thirty President Trump and his team or gearing up for twenty twenty reelection bid and our reporters found his campaign, this time around looks much different than it's it in two thousand sixteen the Wall Street Journal's Mike bender has more details this time around the campaign is really turning toward corporate warfare tactics. And away from the kind of seat of the pants campaign that Mr. Trump ran in two thousand sixteen down to a specific branding book guidelines for how the logo should look what kind of shade of red and blue go on merchandise when gold can be used for a specialty merchandise. And this is sort of the level of detail that we just did not see four years ago. The hope here is to present a very clean, image of the president to reassure supporters and try to win over skeptics. But the riskier is that this kind of spontaneous, and no-holds-barred campaign that Mr. Trump ran for years ago that they might lose a little bit of that energy, if they polish the edges off too much here, and we'd like to know what you think should the Trump twenty twenty reelection campaign, let Trump Trump, let us know with a comment at w S j. Dot com or by tweeting us at W S, Jay podcasts, and that's what's news for this Friday afternoon. I'm Anne Marie for totally for the Wall Street Journal. Thanks for listening.