(KRON) – On today’s Winners & Losers, financial expert Rob Black talks about stocks recovering early in the morning’s session, inflation being an unwanted guest at the Memorial Day BBQ, and “Top Gun: Maverick” setting sights on a $100 million opening.
Winner: Stocks surge amid retail rebound
A rebound in retail earnings spurred markets early in the session, with Macy’s raising its profit outlook in an upside surprise to investors. Shares of discount retailers Dollar Tree and Dollar General were also up more than 13% after both companies raised forecasts Thursday.
Southwest Airlines and JetBlue are both increasing their second quarter revenue outlooks after airline stocks have been hit hard this year.
Loser: Inflation is the unwanted guest at the Memorial Day BBQ
Inflation has caused Americans to spend more for everyday items like groceries, gas and rent. And Memorial Day celebrations are also feeling the pinch. Inflation is going to get a seat at your picnic table this Memorial Day weekend.
Three-quarters of Americans are expected to celebrate the Memorial Day holiday, and 84% of them expect inflation to have an impact on their shopping.
Consumers will be paying about 13% more for this year’s holiday staples. Here’s how much prices have risen:
- Chips: +20.3%
- Beef: +20.1%
- Hot dogs: +13.8%
- Dips: +10.4%
- Ice Cream +8.6%
- Beer: +7.3%
- Soft Drinks: +15.1%
- Vegetables: +9.2%
Winner: ‘Top Gun: Maverick’ sets sights on $100 million opening
This weekend Tom Cruise has a chance to do something he’s never done before — open a film to more than $100 million at the domestic box office.
Tom Cruise has generated more than $4.2 billion at the domestic box office since 1981 but has never had a film open to more than $65 million.
His movies have generated more than $10.3 billion in ticket sales globally over the last four decades.
After several pandemic-related delays, Paramount’s “Top Gun: Maverick” arrives in theaters this weekend with a 97% “Fresh” rating from Rotten Tomatoes and strong presale tickets.
Even if the film does not reach $100 million, his current record is 2005′s “War of the Worlds,” which snared $64 million.