(KRON) — On today’s installment of Winners & Losers, financial expert Rob Black discusses the stock market slip, Amazon Prime Day’s decline and the box office success of “Top Gun: Maverick.”

Loser: Markets are Slipping

Stocks were slipping following the S&P 500’s best day since 2020 on Friday.

Fears that the Federal Reserve would raise rates too quickly appear to be easing, but enthusiasm was waning at the start of regular trading.

The prospect that the Federal Reserve might enact more aggressive interest-rate hikes to fight inflation — and the risk of recession it brings — has dominated investor sentiment of late, sending the S&P 500 into a bear market this year.

Airlines scramble ahead of July Fourth: With the upcoming weekend expected to be the busiest for airports since the COVID-19 pandemic began, airlines are working to limit the flight delays and cancellations that have clogged their customer services lines so far this summer. Simply nixing flights has become a popular strategy: US airlines have slashed their June–August schedules by 15% compared to their OG plans.

Russia defaulted on its foreign-currency sovereign debt for the first time since the Bolshevik Revolution in 1918 after failing to pay bondholders $100 million worth of interest by the end of a 30-day grace period.

Hotels are offering guests $12,000 stem cell therapies, Botox, chewing lessons and IV drips in luxury wellness kick.   The Four Seasons in Wailea, Hawaii offers guests 60-minute stem cell therapy sessions, costing $12,000 each.

Several retailers (Nike, Bed Bath & Beyond) will report earnings, and an inflation measure closely watched by the Fed drops on Thursday.

Loser:  Amazon Prime Day Loses its Luster

Black Friday shopping levels in the summer are slowly turning into an internet afterthought.

After a half-decade of immense success, Amazon is dialing down the discounts offered during its annual Prime Day super sale event (held this year on July 12 and 13).

With Target and Walmart now circling the same calendar dates, Prime Day is quickly losing its novelty. In 2018 and 2019, Wal-Mart and Target saw revenue jump 72% during Prime Day.

Since 2015, Amazon’s Prime Day has boosted subscriptions and driven sales in the historically quiet summer months.

This year, everyone is increasing discounts to clear excess inventory, meaning consumers have more options.

Last year’s average order size, meanwhile, fell to $54.15 from $58.77.

Winner: ‘Top Gun: Maverick’ Joins Billion-Dollar Box Office Club


“Top Gun: Maverick” has joined the billion-dollar club at the global box office. It’s the first Tom Cruise film to achieve the milestone, and the 50th Hollywood movie overall, not adjusted for inflation.

Domestic total of $521.7 million and $484.7 million overseas for a global cumulation just north of $1 billion.

“Top Gun: Maverick” enjoyed a boost in its fifth weekend thanks to being rereleased in select IMAX and premium large-format screens.

The sequel is only the second Hollywood title of the pandemic era to cross $1 billion behind Sony and Disney’s “Spider-Man: No Way Home” ($1.89 billion).

More than 16% of Top Gun 2′s audience has seen the film more than once in theaters, while 4% have seen it four times or more.

The first Top Gun, released in 1986, earned $357.8 million at the worldwide box office, unadjusted.