The Street

Kevin Warsh threw down a few red cards during his first meetings with Congress as Federal Reserve Chairman, especially during often-spicy grilling by Senate Democrats over ethics, independence, and artificial intelligence.However, he did strike a hint of forward guidance to investors and consumers about interest-rate paths and inflation during America’s current afforability crisis without actually saying the words “interest-rate hikes.”“We have the tools to do it,” Warsh said. “Over the coming period, I’m going to ask our colleagues to have a good family fight about the extent and timing in which we would need to deploy those.” Forward guidance is a tool used by central banks to communicate to the public and financial markets the expected future path of monetary policy on borrowing costs.Warsh has said during his first seven weeks as head of the U.S. central bank that he would like to drop forward guidance completely, the opposite practice of his predecessors.“This is probably the closest Warsh has come to acknowledging that the Fed could raise rates in response to persistently high inflation, without explicitly signaling a hike,” Fitch Ratings Head of U.S. Economics Olu Sonola said.Warsh noted in testimony both days during the semi-annual Monetary Policy Report to Congress July 14-15 that inflation has hit above the Fed’s 2% target for the past 63 months. He also emphasized repeatedly to legislators in both chambers that the Fed was committed to delivering the price stability side of its mandate but stopped short of delivering actual forward gudiance.Warsh did offer the Senate Banking Committee one option the Fed might use to evaluate if inflation was becoming persistent. It will consider whether price increases were impacting “the generalized price level” instead of one specific category such as oil and gas, he said.While Fed watchers said the new Chairman’s comments didn’t foreshadow an interest-rate hike in the near term, Warsh’s remarks were the closest he’s come to date to saying that monetary policy may need to become more restrictive if inflation turns stubborn.Monetary Policy Analytics Inc. Economist Derek Tang told Bloomberg that Warsh “definitely revealed a little bit more about his inflation framework.” “The current inflation we’re seeing right now does not alarm him unless we see more second-round effects,” Tange said.Warsh focuses on AI-demand impact on pricesWhile Warsh repeated multiple times a hawkish commitment to use monetary policy to curb inflation, he didn’t outline exactly what tactics the U.S. central bank would deploy — directing his legislators to the five blue-ribbon task forces he created to study a host of Fed reforms.One of those will focus squarely on AI.“I don’t view a one-time change in prices as necessarily being inflationary, because I think there’s a supply response,” Warsh did say regarding the massive investment in AI infrastructure that’s driving up prices on chips, software, and labor. “Will it increase measured prices over the course of the next 12 months? I suspect it will be. Whether that’s inflationary or not, that’s up to the Federal Reserve, and we’re going to have something to say about that,” he said.Related: Cooler inflation delivers big win for Fed interest-rate betsDell, Microsoft and Apple are among the companies that have announced they will be raising prices to consumers on laptops, tablets, and video game consoles because of AI buildout.Warsh said that the current AI investment boom won’t necessarily lead to persistent price pressures in the long term.Fed Governors Christopher Waller and Lisa Cook, as well as New York Fed President John Williams recently stated their concerns about AI’s impact on the economy.

Warsh commits to Fed independence from TrumpCentral bank independence from political and bipartisan pressures is considered vital for long-term economic and market stability because it insulates monetary policy from the whims of the executive branch.President Donald Trump repeatedly attacked Jerome Powell, Warsh’s immediate predecessor, for not slashing interest rates dramatically. The president said he would not nominate a replacement for Powell who didn’t agree with him. He has since publicly backed away from that stance.More Fed:Cooler inflation delivers big win for Fed interest-rate betsFed’s Waller issues stark warning on inflation, interest ratesGoldman hints at Fed’s next interest-rate bet under WarshBut this was after Trump and his allies in the administration pushed for an unprecedented criminal investigation into Powell’s testimony to Congress about renovation costs at the Fed’s headquarters that has since been dropped. Trump also tried to fire Cook for cause over unsubstantiated allegations of mortgage fraud, a case that remains pending.Maryland Democrat Sen. Chris Van Hollen asked Warsh if he has had recent conversations with Trump over interest rates and monetary policy.“I don’t want to be in the business of sharing discussions that the president and I have,” Warsh responded.“I will tell you what I’ve said to the president repeatedly and said to the Treasury Secretary: They chose an independent guy to do the job and that’s exactly what I plan on doing,” he added.By a long-standing tradition, the Fed Chairman and the Treasury secretary meet for a weekly breakfast.Warsh said he’s continued to do so with Treasury Secretary Scott Bessent.“I talk to him often between that,” Warsh said, adding that he will make his own decisions about interest rates.Warsh addresses June drop in CPI, PPIConsumer and wholesale prices dropped in June reflecting a dip in oil prices that surged from the energy shock of the Iran War.Warsh signaled definite caution on those reads.“Any central banker would be happy to have data going in the right direction,” he said, but “these are all imperfect measures of the state of underlying inflation.”Interest rates, jobs, inflation require a delicate balanceThe Fed’s dual mandate from Congress requires maximum employment and stable prices.Lower interest rates support hiring but can fuel inflation. This risks fueling further inflation, potentially leading to an inflationary spiral.Higher rates cool prices but can weaken the job market. This increases the cost of borrowing and further stifles economic activity.The Monetary Policy Report, issued July 10, said the outlook of the future path of interest rates “is subject to considerable uncertainty.” It also described the U.S. economy as overall “expanding at a solid pace despite elevated uncertainty that owes, in part, to the conflict in the Middle East.’’  Traders adjust rate-hike bets after Warsh’s remarks The rate-setting Federal Open Market Committee voted unanimously last month to hold its benchmark Federal Funds Rate target in a range of 3.5%-3.75%. But the minutes of the June FOMC meeting showed policymakers split on inflation risk and the impact on interest rates.A change in the funds rate triggers moves in short-term borrowing costs ranging from credit cards to auto loans and influences longer-term rates such as mortgages.Following Warsh’s two days on Capitol Hill and the June inflation reports, futures traders reset bets to nearly 90% that the FOMC would hold rates steady again at its July 28-29 meeting.September is a coin toss with the CME Group FedWatch Tool also penciling a 51% chance of a rate hike then as well as an over 70% probability of a rate hike by the end of the year.Related: Fed’s Warsh faces tough interest-rate smackdown in Congress

Claiming Social Security benefits early while continuing to work can have an unexpected consequence: a monthly payment from the Social Security Administration (SSA) may be withheld without warning, according to the SSA.For hundreds of thousands of early claimers who continue earning a paycheck, this scenario plays out every year because of a little-known federal provision. The rule is called the retirement earnings test, and it can reduce a Social Security check to zero.If earnings from employment exceed a certain annual limit, the SSA begins withholding a portion of monthly benefits until the excess is fully offset.How the test works, what income it counts, and when the withheld money returns are questions that shape how early claimers who continue working experience their monthly benefit.How the Social Security earnings test zeros out the monthly benefitIn 2026, any retiree who has not yet reached full retirement age can earn up to $24,480 from work before the SSA begins withholding benefits, the SSA confirmed. For every $2 earned above that cap, the agency holds back $1 from the monthly payment.The math gets extreme very quickly for anyone earning a moderate income while receiving benefits. A retiree collecting $20,000 per year in Social Security who earns $64,480 at a job exceeds the threshold by $40,000. The SSA would then withhold $20,000 from that person’s benefits, reducing the annual payout to zero.Related: Bipartisan senators target Social Security’s shortfallFull retirement age is 67 for anyone born in 1960 or later, and reaching that milestone removes the earnings cap entirely, the SSA noted. A higher threshold applies during the year beneficiaries reach full retirement age, with the SSA withholding $1 for every $3 earned above $65,160 in the months before that milestone, the SSA confirmed.What the SSA counts as income under the Social Security earnings testThe earnings test does not apply to every dollar that flows into a retiree’s bank account, which is a key detail many people overlook. The SSA only counts wages from employment and net profit from self-employment when measuring earnings against the $24,480 limit, the agency confirmed.Pensions, annuities, investment income, bank interest, rental income, and distributions from retirement accounts such as Individual Retirement Accounts (IRAs) and 401(k) plans are excluded from the calculation, the SSA explained in its published guidance.”That includes earnings from W-2 wages, but also the net self-employment income if they’re driving an Uber or something,” Luis Rosa, a certified financial planner at Build a Better Financial Future in Pasadena, California, told AARP.Bonuses, commissions, consulting fees, severance pay, and payouts for unused vacation time all count toward the limit as well, the SSA reported. Unemployment benefits do not factor into the earnings test.

Only wages and self-employment income count toward the Social Security earnings test, while most other retirement and investment income is excluded.SDI Productions/Getty Images

Withheld Social Security benefits are returned at full retirement ageThe earnings test functions as a timing shift rather than a permanent forfeiture, which is the most widely misunderstood aspect of the entire provision.Once full retirement age is reached, the SSA recalculates monthly benefits upward to reflect each month for which payments were previously withheld, the agency confirmed.The adjustment results in a permanently higher monthly payment, though the SSA does not send a lump-sum refund for the months withheld. More Social Security:Fidelity offers a lifeline to millions before Social Security shiftsSocial Security retirees could pocket a bigger 2027 raiseSocial Security’s funds will run out sooner than expectedThe higher monthly benefit is intended to gradually repay the value of withheld payments over the remaining years of retirement.Mark Stancato, a Certified Financial Planner, Enrolled Agent, and founder of VIP Wealth Advisors in Decatur, Georgia, told CNBC that clients frequently misinterpret the withholding as a permanent loss and make costly decisions as a result.”A lot of people don’t realize that you might get this reduced benefit right now, but you’ll get it back,” Stancato said. “It’s not a permanent penalty.”SSA researchers Anya Olsen and Kathleen Romig, writing in the Social Security Bulletin, concluded that the retirement earnings test acts as a disincentive to work at older ages, in part because beneficiaries typically do not understand that withheld benefits are credited back at full retirement age.Congress weighs eliminating the Social Security retirement earnings testThe earnings test has drawn renewed scrutiny on Capitol Hill, where a bipartisan push is building to eliminate the provision for good. Senator Rick Scott of Florida announced the Senior Citizens’ Freedom to Work Act (S.4184) at a Senate Special Committee on Aging hearing in March 2026, with Representative Greg Murphy of North Carolina introducing the House companion in April 2026, to repeal the test.Workers aged 55 and older have become the fastest-growing segment of the U.S. labor force over two decades, growing from roughly 10% of workers in 1994 to 24% in 2022, according to figures cited by Sen. Rick Scott at the March 2026 hearing.Repealing the test could bring an additional 250,000 to 1 million Americans into the labor force by removing the financial penalty for earning, the Bipartisan Policy Center estimated in a March 2026 letter for the record submitted to the Senate Special Committee on Aging.What early Social Security claimers can check before filingFor those filing for Social Security before reaching full retirement age and still working, the retirement earnings test directly affects how much of each monthly check the SSA pays.”It’s crucial to balance short-term financial needs with the long-term benefits of delayed claiming,” Ashton Lawrence, a certified financial planner in Greenville, South Carolina, told Kiplinger.The SSA provides an online Retirement Earnings Test Calculator that allows beneficiaries to model exactly how their earnings would affect monthly payments, the agency noted. Related: How much Social Security crisis will cost your retirement

TheStreet aims to feature only the best products and services. If you buy something via one of our links, we may earn a commission.Why we love this dealAnyone who wears jewelry knows that the right accessory can absolutely transform an outfit. Sometimes the perfect ensemble just needs a bit of extra sparkle, whether that’s with a set of bracelets, a dangling pendant necklace, or a truly gorgeous pair of earrings. For the people who love adding new pieces to their jewelry box but don’t love the expensive prices often associated with them, it can be hard to find new accessories that actually hold up after lots of wear but don’t hurt your wallet in the process. It shouldn’t be a choice between quality and cost, and at the right retailers, it doesn’t have to be. Macy’s offers so many incredible deals on luxury jewelry that make it easy to own some truly stunning pieces, and if you’re as accessory-obsessed as we are, you’re certainly going to want to check it out. For those who can’t resist a statement earring, the Belle de Mer Blush Pearl and White Sapphire Earrings are definitely hard to resist adding to cart, and now that the originally priced $300 studs are 80% off, you don’t have to. Save $241 and score your own pair for just $60 before it’s too late. Belle de Mer Blush Pearl and White Sapphire Earrings, $60 (was $301) at Macy’s

Courtesy of

Shop at Macy’sWhy do shoppers love it?Made with blush freshwater pearl and lab-created white sapphire, these earrings aren’t just any old studs. The pink-hued button pearls give the earrings a rosy sheen and serve as the center to which the white sapphire is arranged around. The lab-grown white sapphire, which in total for both earrings equals about 2 ct. t.w. is arranged in a petal-like cluster on one side, and a more uniform band on the other to give the earrings a simple but unique look. In between the pearls and white sapphire, you see small sterling silver elements which match the sterling silver post and backing.Sterling silver is often the ideal choice for jewelry because its hypoallergenic properties make it perfect for those with sensitive skin and sensitivities to other metals. Additionally, it also offers superior durability and can easily be cleaned and polished, so it’ll hold up in color and quality even after lots of wear.Each stud measures about 8 to 9 millimeters wide, and has about a ⅝ inch drop. The earrings use a push back closure, also known as a butterfly back or friction back, which means the back slides easily on and off of the post to keep them securely in place in your ear. That specific type of closure is ideal for everyday wear. And if you really love this pearl and white sapphire combo, you’ll love the matching necklace that goes along with it. The 18-inch long pendant has the same discount available right now. Instead of paying $301 for it, you can grab it for just $60. Related: Walmart is selling a pair of $110 18k gold-plated Swarovski crystal earrings for only $20One of the best perks that Macy’s offers when it comes to jewelry is free in-store cleaning at select Macy’s. Call ahead to your local Macy’s to check if they are one of the participating stores. Details to knowMaterial: Sterling silver, blush freshwater pearls, lab-created white sapphire.Dimensions: 8 to 9 millimeters each with a ⅝ inch drop. Closure: Post back closure.Although small, these earrings are well received by shoppers who can’t say enough about how gorgeous they are. “These earrings are beautiful and will be a wonderful gift,” one shopper said. Others note that they got “many compliments” while wearing them and that they are chic and classy. Shop more deals On 34th Linked Mesh Multi-Row Flex Bracelet, $28 (was $40) at Macy’sStyle & Co Two-Tone 3-Piece Set Sculptural Bangle Bracelets, $21 (was $30) at Macy’sJewelry might not be a necessity, but everyone deserves some new sparkle every now and again. The Belle de Mer Blush Pearl and White Sapphire Earrings is the perfect option for the shopper who doesn’t want to go overboard on price but still wants something pretty and unique.

For more than a decade, the U.S. government recognized that government subsidies were essential to get consumers interested in purchasing electric vehicles, at least during the early stages when EVs cost significantly more than gas-powered vehicles.The strategy undoubtedly helped increase EV ownership, because after the $7,500 tax credit for new EVs and the $4,000 credit for used ones expired at the end of September 2025, much of the U.S. demand for EVs expired with it. U.S. EV market share fell to 5.7% in the fourth quarter of 2025, down from 8.7% a year prior and 10.5%, the all-time high hit during the third quarter, according to CarEdge.Buyers racing to purchase their vehicles ahead of the expiration of the tax credits pushed demand to that all-time high, further bolstering the case that incentives work. The state of California recognizes this and is offering buyers considering buying their first electric vehicle thousands of dollars to make it happen.California EV rebate program offers $3,500 for first-time buyersThis week, California Governor Gavin Newsom signed legislation that offers $3,500 rebates for first-time electric vehicle buyers.The program applies to new vehicles with a suggested retail price of up to $50,000. There is also a separate rebate of $1,750 for used EVs costing up to $25,000.According to Reuters, the California Air Resources Board says it will disclose the automakers participating in the program in August.The new legislation could be a big boon for Tesla if it is participating in the program, as 20% of new car sales in California were EVs last year, and Tesla represented nearly half of those sales.Governor Gavin Newsom signed the law in order to combat what he says is President Donald Trump’s efforts to hamper the domestic EV industry after his administration signed the law that ended the federal government tax incentive program. “Donald Trump is doing everything in his power to pollute our air and surrender the clean car industry to China on a silver platter,” Newsom said. “California is putting its foot on the accelerator. With our new instant rebate program for electric vehicles, we’re making it easier for families to drive clean, breathe clean, and keep more money in their pockets. As California leads the world toward a clean future, our message is clear: no one can stop Californians from choosing vehicles that are better for their wallets and better for the air they breathe.”The state is dedicating $135.5 million to the program as part of a broader $600 million zero-emission vehicle investment agenda in the state’s 2026-2027 budget. The state says its $135.5 million investment is being matched dollar-for-dollar by participating automakers, bringing the total incentives in the program to $270 million. California’s new rebate replaced the standalone Clean Vehicle Rebate Program in November 2023, though the state has had other incentive programs since then, Coltura reported.

California is dedicating $135.5 million to its EV rebate program.Shutterstock

Which states sell EVs the cheapest?Purchasing and owning an EV is still more expensive than a gas-powered vehicle, so it’s no wonder that there is some hesitancy from most U.S. consumers.That is where the tax credit was supposed to come in, pushing on-the-fence EV purchasers worried about the added costs.There was so much demand ahead of the end of the tax credits that J.D.Power data from last year showed U.S. EV transaction prices briefly fell below gasoline vehicles for the first time. As recently as 2023, EVs’ closing costs were $16,000 higher.But now that the federal tax credit has expired, 17 U.S. states continue to offer state tax incentives ranging from $1,500 in Rhode Island to $7,500 in Oregon and Maine.However, 40 states impose higher annual registration fees on EVs and some hybrids to offset lost gas tax revenue. Those fees range from $50 in Hawaii and South Dakota to $260 in New Jersey.California and Alaska ended their EV tax credit programs while Maryland, Montana, New Hampshire, New Jersey, Pennsylvania, Rhode Island, Texas, and Vermont introduced new EV registration fees. Tennessee, Kansas, Indiana, Nebraska, Wisconsin and North Carolina have all increased their fees.Eleven states offer EV purchase incentives and impose higher registration fees than those applied to gas vehicles.If you are interested in purchasing an EV in your state, here is a state-by-state breakdown of the available tax credits.Related: U.S. EV owners face unexpected, added long-term costs

TheStreet aims to feature only the best products and services. If you buy something via one of our links, we may earn a commission.Why we love this dealNew seasons are all about revamping spaces around your home, and that likely includes a closet. If you’ve already done a purge of old clothing and are now in the phase of reorganizing an existing wardrobe, it can never hurt to add a small piece of furniture to maximize storage. When you need extra storage, dressers are the perfect solution. But not all spaces can fit a standard dresser. Since they’re typically long, they aren’t always the best fit for small rooms. But that’s where mini dressers come in. Imagine a dresser, but in a compact size that offers extra storage without taking up too much space. The Somdot 2-Drawer Mini Dresser is on sale for just $32 at Amazon. It has both open and closed storage, along with extra features that make it a multifunctional storage solution.​​Somdot 2-Drawer Mini Dresser, $32 (was $36) at Amazon

Courtesy of Amazon

Shop at AmazonDetails to knowThis mini dresser measures 15.7 inches long by 11.8 inches wide by 23.6 inches high, making it a small piece of furniture that’s packed with convenient features. For starters, it has versatile storage. There’s a tabletop, an open shelf, and two drawers within a durable steel frame, offering both open and closed storage depending on your needs. The tabletop and open shelf are ideal for decor and items you want easy access to, while the drawers can conceal clutter, whether it’s clothing or accessories. The drawers are also made of fabric, which helps keep the mini dresser lightweight and affordable.But this mini dresser isn’t just a place to store your clothes or use as a nightstand. It has a built-in charging station, too. There are two AC power outlets, one USB port, and one Type-C port that you can use to charge your phone by your bed, sofa, or wherever you use the dresser. It’s significantly easier than having to reach behind a piece of furniture to get to an outlet, and you can also use it to plug in a table lamp. Then, there are the built-in lights. The mini dresser has smart LED light strips under the tabletop, illuminating the open shelf space. You can control the light settings with the remote control on the cord or through an app. The lights have a timer, voice activation, and can sync to music, making it a fun, impressive feature that adds ambient lighting to your space.It comes in three colors, including white, black, and brown wood grain. Related: Amazon’s stackable mini dresser is the perfect closet organizer for just $46Pros and Cons of the Somdot 2-Drawer Mini DresserProsBuilt-in charging station: The mini dresser has two AC outlets, one USB port, and one Type-C port for all of your charging needs.Has a smart LED light: It comes with smart LED light strips that can be controlled with a remote control cord or an app.Open and closed storage: It has an open shelf and two drawers.ConsFabric drawers: It doesn’t have wood drawers like more traditional dressers.Smaller than expected: At 15.7 inches long by 11.8 inches wide by 23.6 inches high, reviewers say it’s smaller than they expected; however, that makes it great for compact spaces.Why do shoppers love it? “One of the features that really stood out to us was the built-in LED light and the charging station, which makes it very convenient for keeping devices powered overnight,” an Amazon shopper said. “Assembly was surprisingly easy. My daughter actually put it together herself in about 30 minutes with no problems, which says a lot about how straightforward the instructions were. That was a big plus for us.” They added that it looks clean and modern, highlighting that the LED lights add a fun touch to the space.Shop more dealsDumos Mini Dresser, $20 (was $31) at AmazonSongmics Bellah Mini Dresser, $32 at AmazonLazzanto Mini Dresser, $40 (was $46) at AmazonThe Somdot 2-Drawer Mini Dresser is a multifunctional storage solution, and it’s on sale now for only $32.

TheStreet aims to feature only the best products and services. If you buy something via one of our links, we may earn a commission.Why we love this dealStaying warm on cooler nights isn’t alway easy. Whether you have a naturally cold base body temp or you don’t have the right bedcover, sleeping with a chill is never fun. That’s why we’re excited to share a deal we found at Macy’s on an impressive comforter set. This bedding can keep you cozy all night long, and beyond. Just don’t wait too long to buy one, as the discount is causing them to fly off the shelves faster than you might imagine.The Chaplin Printed 9-Piece Comforter Set is on sale for $68, which is 60% off the original price of $170. There may be no better time all year to take advantage of this price drop. Chaplin Printed 9-Piece Comforter Set, $68 (was $170) at Macy’s

Courtesy of Macy’s

Shop at Macy’sWhy do shoppers love it?This quilt set has everything you could want in a new bedding set. It includes a comforter, flat sheet, fitted sheet, two pillowcases, two pillow shams, and two decorative pillows. It’s the perfect pick for anyone who likes to get the entire bedding set in a single bag. The black and white geometric pattern on the front of the comforter is mirrored and accented on the other pieces of the set as well. The black sheets offer a wonderful contrast to the light-colored bedcover and pillow shams.Made from 100% polyester, each piece is lightweight and breathable. That said, there is ample billowy fill inside the comforter shell, giving it a warm and cozy feel. This is the perfect year-round set, as it’s lightweight enough for summer, but robust enough for the winter as well. The comforter has a solid light backing, which means you can flip it periodically and change up the look of your room. That also helps to avoid uneven wear and tear on the blanket if you only use one side at all times.The whole set is machine washable for added convenience. It can also be placed in the dryer on the low heat setting. The comforter will fluff up like new with every dry cycle, so there’s no need to worry about undue wear or flattening. The queen comforter measures 90 inches long by 90 inches wide. The entire set is available in full and queen sizes.Related: Walmart’s $140 ribbed cloud-like comforter set is 61% offDetails to knowComforter dimensions: 90 inches long by 90 inches wide.Materials: 100% polyester.Sizes: Full and queen.Macy’s shoppers were very pleased with this set. One said, “It’s so fluffy and soft,” adding, “I love how warm it is. The color scheme is classic and is so beautiful.”The Chaplin Printed 9-Piece Comforter Set can make you feel warm and cozy for a low price at the moment. It’s only $68 right now, making it an impressive “all-in-one” option for revamping your bedroom. We recommend buying yours sooner rather than later, if you don’t want to miss out on this limited-time deal. 

Nike’s restructuring, which it launched in April 2026, has already led to several store closings, layoffs, and an exit from a business partnership.And now the popular sneaker company has closed two more locations on opposite sides of the country as part of its national retail strategy, according to the company.Nike closes two more store locationsNike abruptly closed its store in the Fenton shopping center at 4 Fenton Main St., Suite 140, in Cary, N.C., weeks earlier than expected, the shopping center told The News & Observer.”The store, which opened in June 2022, was originally expected to remain open through July 31 but closed earlier than planned as part of Nike’s broader national retail strategy,” the shopping center said in an email to The News & Observer on July 16.”Fenton appreciates Nike’s partnership and remains committed to providing guests with a strong mix of retail, dining, entertainment, and community experiences,” the email said.

Nike has closed its retail stores in Cary, N.C., and San Jose, Calif., as part of its national retail strategy.Shutterstock

Company sends 7-day closure messagesNike’s website listing for the Fenton store location posted a message, “Closed for the next 7 days.” It did not say whether the store would reopen after 7 days. The shopping center has a strong leasing interest in the former Nike space and will share updates as they become available, a spokesperson said.Consumers in the Raleigh, N.C., area may still shop at a nearby Nike Factory Store at Carolina Premium Outlets in Smithfield, N.C., according to the company’s locator on its website.Nike also closed its store in the upscale Santana Row shopping district of San Jose, Calif., the Silicon Valley Business Journal reported. The sneaker company did not reveal its final day of operation at the San Jose store, but the Santana Row shop’s Nike webpage also posted the message, “Closed for the next 7 days.”Similar to its Cary message, Nike did not say whether the San Jose store would reopen after 7 days.”When a tenant’s needs change, it gives us the opportunity to refresh the property and bring in new, exciting concepts that reflect where retail and our guests are headed next,” said Collette Navarrette, senior director of marketing for Santana Row’s operator Federal Realty told the Business Journal.Nike has not revealed the number of stores it plans to close in its national retail strategy.Nike launched restructuring in April 2026 As part of a restructuring launched in April 2026, Nike has adjusted its business model, eliminating certain areas of its business. The company discontinued its Nike Fitness Studios venture, which it launched with gym partner FitLab in 2023, Athletech News reported.“After careful consideration, the majority of the Nike Studios locations will be transitioning to FitLab’s owned portfolio of fitness brands,” FitLab co-founder and co-CEO Brian Kirkbride said in a statement to Athletech News.Kirkbride said Nike Studios would transition to its brands, including yoga brand Y7, small-group strength training brand Racked, Mile High Run Club and XPT, a performance wellness brand founded by Laird Hamilton and Gabby Reece.Retailer closes tech officesNike also closed its tech offices in three locations and consolidated operations into two hubs: its Oregon headquarters and the Nike India Technology Center, according to Inc. The closures were tied to about 1,400 layoffs across Nike’s Global Operations team, just under 2 percent of its global workforce.As part of the retail strategy, Nike’s sneaker chain permanently closed a 55,000 square-foot retail location in January which occupied the former 1853 Prescott House Hotel in New York, according to HypeBeast. The company said it planned to move the store to a nearby location, TheStreet’s Daniel Kline reported.Nike opened its first branded retail store Niketown in Portland, Ore., in November 1990. Nike town stores transitioned to Nike stores in the late 1990s and early 2000s.Latest Nike store closings:Fenton shopping center, 4 Fenton Main St., Suite 140, in Cary, N.C., July 2026. Santana Row, 333 Santana Row, Suite 1000, San Jose, Calif., July 2026.Related: Specialty candy company files for Chapter 11 bankruptcy

Wall Street rewards patience just as often as conviction. Here, the smartest move isn’t buying more but knowing when to wait. I make more money in the market by sitting on my hands than I make by trying to be part of every move. Jim Cramer spent just a few seconds on July 16 explaining that is what you need to do on Nebius Group (NBIS). Despite a steep drop in the stock, Cramer didn’t trash the company. In fact, he said the opposite.”It’s a very good company,” the Mad Money host told viewers during his lightning round. But good companies and good entry points are two very different things. And right now, Cramer is drawing a hard line between them.Nebius has been one of the most explosive AI infrastructure stocks of the past year — a 222% one-year return, according to Yahoo Finance. A $775 million debt facility just closed. Contracts with Microsoft and Meta. That’s the kind of resume that makes investors want to jump in immediately.Cramer’s message? You may not want to jump just yet.Jim Cramer’s NBIS warning: ‘That time is not now’Cramer was blunt during the July 16 lightning round segment.”Nebius is at the nexus of the craziness right now,” he said. “It’s not a crazy company; it’s a very good company.””This stock is not done going down. There’ll be another time to buy it, but that time is not now,” he continued.More Nebius:Nebius lands $1 billion AI deal as one major risk loomsNebius CEO doubles down on capex spendingMorgan Stanley resets Nebius stock price forecastHis overall message is one worth sitting with. Cramer isn’t calling Nebius broken. He’s calling the entry point wrong. And looking at my chart, I can also see a similar case.NBIS hit a 52-week high of $299 on June 22, according to Yahoo Finance data. Since then, the stock has retraced approximately 42%. On July 16 alone, shares fell about 13.90%, closing at $171.77. That kind of selling pressure, sustained over weeks, rarely resolves overnight.What’s driving the Nebius selloff, and why the $775M facility didn’t stop itHere’s where it gets interesting. Nebius delivered a financing milestone that most growth companies would celebrate. The company closed its first senior secured debt facility for approximately $775 million to expand its artificial intelligence (AI) cloud platform, according to a company statement. Also Read: Nebius Group NV Latest News and StoriesThe facility is backed by deployed graphics processing unit (GPU) infrastructure, is contracted for cash flows from an investment-grade customer, matures in 2030, and is priced at SOFR plus 2.50%.Nebius also stated it now holds more than $40 billion in contracted revenue from investment-grade customers, including Microsoft and Meta.

Nebius reported Q1 2026 revenue of $399.0 million, up 684% YoY from $50.9 million.Andrey Rudakov/Bloomberg via Getty Images

So why did Nebius’ stock fall anyway?My review of the data points to two compounding pressures. First, the facility itself, while substantial, also highlights the capital intensity of Nebius’s growth model. And investors are recalibrating how much that costs. Second, insider activity has recently been hard to ignore.Over the past 90 days, Nebius insiders completed 33 transactions — all sales — totaling approximately $27.8 million in net value, according to Insider Screener.Key executives, including the chief executive officer and chief technology officer, participated in those sales. When leadership sells at this pace, the market tends to notice.Nebius Q1 2026 earnings showed explosive growth, with one important asteriskThe fundamentals, taken at face value, are genuinely impressive.According to Nebius’s Q1 2026 financial report, key highlights included:Revenue of $399.0 million, up 684% year-over-year (YoY) from $50.9 million in Q1 2025Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) swung to a positive $129.5 million, compared to a loss of $53.7 million a year earlierCash and cash equivalents of $9.3 billion as of March 31, 2026But there’s an important asterisk on the net income figure. Nebius reported net income from continuing operations of $621.2 million. Related: Morgan Stanley resets Nebius stock price forecastThat number looks extraordinary until you note it was driven largely by a $780.6 million gain from the revaluation of investments in equity securities. Strip that out and the adjusted net loss actually widened slightly, rising about 20% to $100.3 million, according to the report.Capital expenditures also ballooned. up 355% to $2.47 billion, as the company aggressively scales infrastructure. That spending is strategic, but it explains why investors are scrutinizing the balance sheet more carefully even as revenue rockets higher.Where the chart says NBIS may find its floor, and what to watch nextThis is where the story is genuinely useful for you if you’re watching from the sidelines.I looked at my chart, and the technicals suggest a potential landing zone that long-term bulls should have marked on their charts.

TradingView

NBIS is trending lower toward a key support zone between roughly $122 and $137. That level carries what traders call a triple support confluence:Strong horizontal price support established from  multiple prior rejectionsThe 200-day moving average reading is at $137An ascending trendline has held since February 2026, with three previous rejections at that levelA smaller support zone sits between approximately $165 and $175, which also lines up with the 100-day moving average near $174. That’s where Nebius is trading currently. If that level breaks, the path toward the stronger $122–$136 zone opens up.That lower zone is where a more compelling risk-reward entry could emerge. But only if we get confirmation. Buying into a falling stock without a technical floor and confirmation variables is no different from trying to catch a falling knife.Nebius CEO Arkady Volozh framed the long-term vision clearly in the company’s Q1 shareholder letter: “We are not simply responding to where the industry stands today; we have the knowledge and experience to build the infrastructure, tools, and capabilities for where it will be tomorrow.”The business case is intact. The entry case, at least for now, is not.Related: Jim Cramer recommends buying these 5 stocks

The One Big Beautiful Bill Act, signed on July 4, 2025, overhauled the federal student loan system and reshaped which repayment plans qualify for the program. A new default repayment option does not earn PSLF credit, parent borrowers face a permanently closed door, and former SAVE enrollees have a narrow window to avoid losing progress.Public Service Loan Forgiveness (PSLF) itself remains intact, and the 120-payment, 10-year structure has not changed.The new Tiered Standard Plan does not count toward PSLFBorrowers who take out federal student loans on or after July 1, 2026, now have only two repayment options: the Tiered Standard Plan and the Repayment Assistance Plan, a new income-driven plan created under the One Big Beautiful Bill Act.Only the Repayment Assistance Plan qualifies for PSLF, while the Tiered Standard Plan does not earn forgiveness credit under any tier, including the 10-year option. That marks a significant departure from the legacy 10-Year Standard Repayment Plan, which previously counted toward forgiveness.Former Education official Rich Williams warns that default repayment may block borrowers’ PSLF progress, according to CNBC….The Tiered Standard Plan is the default…. New borrowers who don’t actively pick a plan get placed there automatically, quietly earning zero PSLF credit.”For anyone borrowing a new loan on or after July 1, 2026, this is especially important,” Williams added. Scott Buchanan, executive director of the Student Loan Servicing Alliance, confirmed that any time spent on this plan will not count toward the 120 required PSLF payments, CNBC reported.Parent PLUS borrowers who missed consolidation window are locked outThe June 30, 2026, deadline for Parent PLUS consolidation has passed, and the consequences are irreversible for borrowers who did not act in time.Under prior rules, parents who borrowed through the Direct PLUS program could consolidate those loans, enroll in Income-Contingent Repayment, and qualify for PSLF. The One Big Beautiful Bill Act eliminated that pathway for any Parent PLUS loan disbursed after July 1, 2026, according to the Department of Education’s guidance published on StudentAid.gov.More Personal Finance:AI money advice carries risks most users overlookEstate plans for unmarried couples: Protect your partner, your wishesEstate planning for solo agers: How to protect yourselfNew Parent PLUS borrowers can only access the Tiered Standard Plan, which does not qualify for PSLF and offers no income-driven repayment alternative. Without access to the Repayment Assistance Plan, these borrowers have no path to loan forgiveness.Parents who consolidated before the deadline still have a viable route, but they face a secondary time constraint. Stanley Tate, a student loan attorney licensed in Missouri, recommended that these borrowers enroll in Income-Contingent Repayment, make one payment, then switch to Income-Based Repayment before the 2028 sunset.

Parents who missed the Parent PLUS consolidation deadline permanently lose access to income-driven repayment, PSLF eligibility, and future loan forgiveness options.Keeproll/Getty Images

Former SAVE enrollees face shrinking window to preserve PSLF creditThe Saving on a Valuable Education plan was formally eliminated after the U.S. Court of Appeals for the Eighth Circuit issued its ruling on March 9, 2026, directing the district court to enter final judgment vacating the rule. Roughly 7.5 million borrowers were enrolled when the court issued its judgment.Servicers began sending 90-day transition notices on July 1, giving borrowers until approximately Sept. 29, 2026, to select a qualifying plan for the first wave of notices.Those who do not respond risk auto-enrollment in either the Tiered Standard Plan or Standard Repayment, and neither option generates PSLF credit in most situations.Nancy Nierman, assistant director of the Education Debt Consumer Assistance Program in New York, told CNBC that existing borrowers pursuing PSLF should compare their monthly bills under available income-driven plans and select the cheapest qualifying option.Steps PSLF borrowers can take to protect their payment creditPSLF borrowers can take the following actions to protect their credit and pursue debt forgiveness.Key actions for borrowers pursuing loan forgivenessVerify that your repayment plan still qualifies. Servicers are sending 90-day notices to borrowers who were enrolled in SAVE, and missing that window risks auto-enrollment in the Tiered Standard Plan or Standard Repayment. Tate advises borrowers pursuing forgiveness to switch to Income-Based Repayment or the Repayment Assistance Plan before the deadline passes.Submit a PSLF certification form now. Filing locks in credit for every month of qualifying employment through the submission date, Tate explained in his 2026 PSLF guide. Borrowers can submit through the PSLF Help Tool at StudentAid.gov.Track your employer’s eligibility status. U.S. District Judge Myong J. Joun of the District of Massachusetts vacated the employer eligibility rule on June 30, 2026, calling it contrary to law, arbitrary and capricious, and a First Amendment violation, The College Investor reported. A second judge in the U.S. District Court for the District of Columbia issued a similar ruling shortly afterward.Sources:Tateesq, College Investor, StudentAidTate advises borrowers to document employment with pay stubs, W-2s, and copies of every certification form in case the rule is reinstated.What these changes signal about PSLF going forwardPSLF remains a statutory entitlement under Section 455(m) of the Higher Education Act, and only Congress can repeal it. More than one million borrowers have already received forgiveness through the program, and the core structure survived the One Big Beautiful Bill Act.New repayment restrictions, the Parent PLUS lockout, and ongoing litigation over employer standards have made vigilance essential. Together, these developments make 2026 a period of heightened scrutiny for anyone pursuing PSLF, with servicers, courts, and the Department of Education all reshaping the pathway to the 120-payment finish line.Related: Student loan forgiveness for public servants just got pricier

With the summer travel season bringing large tourist crowds to various cities and smaller destinations across Europe, an increasing number of them have begun setting new rules to combat visitors’ rowdiness and lack of decorum.After a video of eight British men dancing naked in a bar in the Portuguese town of Albufeira went viral in the summer of 2024, local outcry prompted lawmakers to pass a bylaw whereby anyone caught undressed or wearing only a bathing suit outside a beach area can be hit with a fine of up to €1,800.The rule quickly earned the nickname “bikini ban” and is now being implemented at other European locations that see high rates of tourist partying and misbehavior.”Quality of life cannot be sacrificed on the altar of mass tourism”: Varenna’s new shirtless banA fishing village on Italy’s Lake Como known for its pastel-colored houses, Varenna has imposed a fine of up to €200 ($228 USD) for any tourist or local seen walking around town with a bare chest or only a bathing suit top for women.”Varenna is a wonderful village, and we are proud to welcome hundreds of thousands of visitors from all over the world every year,” Mayor Mauro Manzoni said in a statement announcing the new rule changes. “However, our residents’ quality of life cannot be sacrificed on the altar of mass tourism.”Related: A border fence separating two countries was just literally torn downVarenna is home to a permanent population of just 650 residents but sees hundreds of thousands of visitors come to the region from other parts of Italy during the summer months.Fines for a first offense would start at €50 and can go up to €200 for repeat offenders or anyone caught fully undressed. The rules do not apply to tourists who are swimming or spending time on beaches, piers, and docks.

Varenna is a picturesque village sitting on Lake Como.Getty Images

What the new “bikini ban” means for tourists traveling in Italy this yearOther changes voted in by the local council include limiting groups being led through the town on tours to 25 people and banning the use of loudspeakers by tour guides. The new regulations have been updated in the town bylaws as “amendments to the urban police regulations” and went into effect on June 27.More Travel News:Airline to launch unusual new flight to Cayman Islands from the U.S.There is a very cool Irish version of swimming pigs in the BahamasUnexpected country is most luxurious travel destination for 2026Low-cost airline launches easier way to get to Sri LankaAlso this year, Cinque Terre in the northern Italian region of Liguria passed new regulations, hitting visitors who wear flip flops or other loose sandals on the trail between the area’s hilly fishing villages with a fine ranging from €50 to €2,500.The crackdown comes after an increase in tourists tripping on the rocky paths started to strain the rescue and medical services of towns that have a small permanent population.Put in place over the risk of accidents and damage to the trail rather than fashion or public decency, the rules apply only to those hiking the pathway between the fishing towns of Monterosso, Vernazza, Corniglia, Manarola, and Riomaggiore, rather than those visiting the towns themselves.Related: 105-year-old historic hotel by national park files for Chapter 11 bankruptcy