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Amazon, Microsoft, Google, and Meta will collectively spend $650 billion on AI infrastructure in 2026, but the market's reaction has wiped trillions from tech valuations.
Bank of America data reveals spending growth of 2.5% for the wealthy, 1% for the middle class, and 0.3% for lower earners. The old K-shaped recovery has fractured into three tiers, reshaping how to invest and plan.
Intuit reported fiscal Q2 revenue of $4.53 billion, up 15% year-over-year, driven by its AI-powered Intuit Assist platform across TurboTax and QuickBooks. The stock rose 4% in after-hours trading.
Wells Fargo has cut its workforce by 25% since 2020, from 275,000 to roughly 210,000 employees, with new layoffs in February targeting loan servicing roles that AI and automation can handle.
During the State of the Union, Trump announced a government-backed retirement match of up to $1,000 per year for the 57 million American workers who lack employer-sponsored 401(k) plans.
Federal Reserve Governor Lisa Cook said monetary policy may not be able to counter AI-driven job losses without also increasing inflation, calling for workforce policy instead.
Trump's 2026 SOTU address features Trump Accounts for newborns, an AI electricity mandate, drug pricing reform, and an affordability push as the economy slows to 1.4% growth.
The CHIPS Act has triggered $1.2 trillion in factory construction commitments, but 500,000 unfilled manufacturing jobs threaten to delay production timelines and inflate costs across the semiconductor reshoring effort.
A new Fidelity study reveals that workers over 50 with student loan debt have retirement balances 30% smaller than their debt-free peers. With 9.5 million older Americans carrying education debt, the crisis is reshaping retirement in America.
Core durable goods orders surged 0.9% in January, nearly tripling the 0.3% consensus estimate. The surprise strength is driven by AI infrastructure equipment and data center buildout.
Mass retailers and traditional supermarkets have reached the same 79% grocery penetration for the first time. Walmart's share jumped 6 points in a year as consumers trade down.
The Supreme Court's ruling striking down IEEPA tariffs has voided the legal foundation under every bilateral trade deal Trump negotiated in 2025, including South Korea's $350 billion agreement, sending allies scrambling to reassess.