After long pushing Congress for such legislation, President Joe Biden on Tuesday signed into law a bipartisan $280 billion bill focused on domestic semiconductor manufacturing and scientific research.

The House approved the Chips and Science Act in a 243-187 vote on July 28, a day after the Senate gave its OK in a 64-33 vote. Biden had been expected to sign the legislation quickly, but there were delays due to his lingering case of COVID-19.

We are a day away from data that could prove a turning point for markets.

If Wednesday’s CPI doesn’t reveal some slowing in prices, expectations will rise for a bigger Fed rate hike in September, possibly knocking stocks. But if it swings the other way, especially after surprisingly good jobs data, the view that things aren’t as bad as feared/Fed hikes may be done soon, could prevail.

WASHINGTON — The FBI searched Donald Trump’s Mar-a-Lago estate as part of an investigation into whether he took classified records from the White House to his Florida residence, people familiar with the matter said Monday, a move that represents a dramatic and unprecedented escalation of law enforcement scrutiny of the former president.

Trump, disclosing the search in a lengthy statement, asserted that agents had opened up a safe at his home and described their work as an “unannounced raid” that he likened to “prosecutorial misconduct.”

WASHINGTON — The FBI searched Donald Trump’s Mar-a-Lago estate as part of an investigation into whether he took classified records from the White House to his Florida residence, people familiar with the matter said Monday, a move that represents a dramatic and unprecedented escalation of law enforcement scrutiny of the former president.

Trump, disclosing the search in a lengthy statement, asserted that agents had opened up a safe at his home and described their work as an “unannounced raid” that he likened to “prosecutorial misconduct.”

U.S. stocks struggled for momentum on Tuesday as traders shied away from chunky bets ahead of July inflation data due Wednesday that may decide the fate of the recent summer rally.

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Earnings season is almost over. The sector with the best news has been energy, as fossil-fuel companies benefit from sky-high oil and gas prices.

But what about technology, which had been in a rut until the sector rebounded in June? A list of standouts in the S&P 500, including chip and financial-technology companies, is below.

In a note...

In an unsigned statement issued separately from financial results, Novavax executives said that the adjustment was made “to account for several evolving market dynamics.”

“We remain confident in our vaccine as a strong additional choice,” executives stated. “Its competitive product profile includes our vaccine’s efficacy, well-tolerated safety profile, durability of protection and ability to address both current and future variant strains.”

“In Q3, we are already making tremendous progress,” the statement continued. “We have shipped over 23 million doses since the beginning of July and, while in some cases delivery timing may be pushed into 2023, we do not expect total contracted demand to change under the majority of our Advance Purchase Agreements.”

For the second quarter, Novavax reported a loss of $510.5 million, or $6.53 a share, down from a loss of $4.75 a share a year ago, on sales of $185.9 million, down from $298 million last year. Analysts...

China says its hardline policy has been successful in preventing large-scale hospitalizations and deaths, while critics, including the World Health Organization, have decried its impact on the economy and society and said it is out of step with the changing nature of the virus and new methods of prevention and treatment.

China announced 828 new cases of domestic transmission on Tuesday, 22 of them in Tibet. The majority of those cases reportedly were asymptomatic.

Meanwhile, more than 80,000 travelers remain stranded on the southern resort island of Hainan under requirements that they consistently test negative for the virus in coming days before being allowed to leave.

In the U.S., the daily average of new cases continued a recent decline, but not all data are being captured with many people testing at home. The average stood at 108,261 on Monday, according to a New York Times tracker, down 16% from two weeks ago.

The daily...

The numbers: U.S. nonfarm worker productivity fell at a 4.6% annual clip in the second quarter, the government said Tuesday.

Economists surveyed by MarketWatch had projected a 4.3% decline.

This is the second straight decline quarterly decline in productivity, which measures output per hour. In the first quarter, productivity fell at a steep...

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This is reprinted by permission from . 

While some workers return to the office this year, many others continue to work remotely indefinitely. This seismic shift has changed where people live and work and, increasingly, how they travel.

In the first quarter of 2022, nearly 25% of job postings at the 50,000 largest companies in the U.S. and...

Following months of weakness, the yellow metal has held up remarkably well since Friday’s surprisingly strong U.S. employment report, which showed the U.S. economy had added more than 500,000 jobs during the month of June, nearly doubling Wall Street’s expectations. The number of people working...

Russia suspended crude flows through the Druzhba pipeline toward Hungary, the Czech Republic and Slovakia on Tuesday after sanctions prevented payment of a transit fee, Bloomberg reported Tuesday. Druzhba is the world’s longest pipeline network.

WTI...

Faced with the nation’s worst inflation in four decades, Black, Latino and Native American families are already having more issues affording food, housing and healthcare compared to their white counterparts, a new poll shows.

The findings, released Monday from NPR, the Robert Wood Johnson Foundation and the Harvard T.H. Chan School of Public Health, mirror prior research detailing the ways in which some people of color are worse off as the cost of living soars. 

In...

Starting price: $46,990

Above average: Over-the-air updates; impressive semi-autonomous driving features; driving dynamics; single-motor rear-wheel drive; Supercharger network.

Below average: Build quality; no Apple AAPL CarPlay/Android Auto integration; does not qualify for the federal tax credit; everything controlled through the touchscreen.

Consensus: With a choice of models, the 2022 Tesla Model 3 offers impressive range and performance. There are still some build quality issues, and interior features are nearly all controlled through a touchscreen.

Micron Technology Inc. shares were falling more than 3% in premarket trading Tuesday after the memory-chip company said that it expects “challenging” market conditions for the current quarter and the following one.

Ahead of an investor presentation that will take place later Tuesday, Micron MU,

The yield on the 2-year Treasury TMUBMUSD02Y added less than 1 basis point to 3.214%. Yields move in the opposite direction to prices. The yield on the 10-year Treasury TMUBMUSD10Y climbed 3.7 basis points to 2.795%. The yield on the 30-year Treasury TMUBMUSD30Y rose 2.3 basis points to 3.013%. By Monday’s close the 10-year yield was down 72 basis points from its cycle high touched in mid-June, but remained up 127 basis points for the year-to-date.

This is reprinted by permission from . The investing information provided on this page is for educational purposes only. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments.

In the first half of 2022, the price of every major cryptocurrency dropped. Now, a handful of crypto-related companies are facing serious financial difficulties, including bankruptcy. This period of market cooling has become known as “crypto...

Republican lawmakers took to social media to condemn the FBI’s raid on former President Donald Trump’s Mar-a-Lago estate.

In a series of tweets, Florida Sen. Marco Rubio likened the raid — which reports said was focused on whether Trump took classified material from the White House — to dictatorships persecuting political rivals.