Things To Do In SW Florida

By ALEX VEIGA, AP Business Writer

Stocks are losing ground on Wall Street in morning trading Friday, pulling the market down from its latest all-time highs, after a closely watched measure of inflation showed prices mostly held steady last month.

The S&P 500 fell 0.7% a day after climbing to a record high. The benchmark index is set to end August up 1.9%, which would be its fourth straight month of gains.

The Dow Jones Industrial Average also came off its own record high, shedding 164 points, or 0.4%, as of 11:15 a.m. Eastern time. The Nasdaq composite was 1.1% lower.

Losses in technology weighed on the market, offsetting gains in health care and other sectors.

Dell Technologies slid 8.5% for the biggest decline among S&P 500 stocks a day after the company reported second-quarter revenue that exceeded analysts’ expectations, but noted that margin pressures and weakness in PC revenue.

Among other tech companies in the red: Tech giant Nvidia fell 3.1%, Broadcom dropped 4.3% and and Oracle was 6.7% lower. read more

Matcha — a green tea powder deeply rooted in Japanese tea ceremonies — has surged in U.S. popularity in recent years. Its vibrant green color has become a social media staple, flaunted by influencers and wellness-conscious consumers.

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Performative as it may seem, matcha is also addictively delicious — at least to some. To others, it just tastes like grass. But as anyone who has developed a habit for the earthy beverage will tell you, it’s also incredibly expensive.

I couldn’t possibly count how much I’ve paid for matcha since I first started drinking it in 2020 and if I could, I’d be embarrassed. In a moment of weakness, I once spent $11.50 on a latte, an unusually high price even for New York City, where I live. read more

By CHRISTOPHER RUGABER, Associated Press Economics Writer

WASHINGTON (AP) — The Federal Reserve’s preferred inflation gauge mostly held steady last month despite President Donald Trump’s broad-based tariffs, but a measure of underlying inflation increased.

Prices rose 2.6% in July compared with a year ago, the Commerce Department said Friday, the same annual increase as in June. Excluding the volatile food and energy categories, prices rose 2.9% from a year earlier, up from 2.8% in the previous month and the highest since February.

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The figures illustrate why many officials at the Federal Reserve have been reluctant to cut their key interest rate. While inflation is much lower than the roughly 7% peak it reached three years ago, it is still running noticeably above the Fed’s 2% target. read more

By CHRISTOPHER RUGABER and PAUL WISEMAN, AP Economics Writers

A lawyer for Lisa Cook on Friday urged a U.S. judge to let the Federal Reserve governor keep her job while she fights President Donald Trump’s attempt to fire her in a stunning assault on the central bank’s independence.

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The case in the U.S. District Court in Washington D.C. could provide Trump with expansive power over the Fed, which has traditionally been shielded from political pressure as it makes tough, complicated decisions about whether to raise interest rates to fight inflation or lower them to encourage hiring and economic growth. read more

The latest concept for redeveloping Orlando Fashion Square Mall calls for even more apartments, less retail, and potentially the biggest gym in Central Florida.

Macy’s would get smaller, and Whole Foods might come in. But the biggest question about the distressed retail center remains: When is anything going to happen?

New Jersey-based M&M Realty Partners, the developer selected by mall owner Bancorp, revealed a new conceptual plan this week during a shopping center industry event, ICSC@Florida, at the Orange County Convention Center, according to a report in GrowthSpotter. M & M Realty is a joint venture led by Edgewood Properties founder Jack Morris and JMP Holdings President Joe Marino. They were tapped by the bank in 2021 to redevelop the mall.

The new M&M concept deviates from the framework master plan approved by the City of Orlando in 2021. Created by Baker Barrios, it called for 1,400 residential units spread over four phases, plus 177,000 square feet of new retail uses and a 120-room hotel. read more