Stocks Get Hit as Weak Treasury Sale Boosts Yields
Bloomberg Television brings you the latest news and analysis leading up to the final minutes and seconds before and after the closing bell on Wall Street. Today's guests are Liz Ann Sonders, Charles Schwab, Alan Baratz, D-Wave Quantum, Corey Tarlowe, Jefferies, Leon Cooperman, Omega Family Office, Alli McCartney, UBS, Shirin Ghaffary, Bloomberg News, Jana Eggers, Nara Logics, Chris Sestito, Hiddenlayer, JB Mackenzie, Robinhood, Earl Patton, Rumble Venture Capital, Kailey Leinz, Bloomberg News. (Source: Bloomberg)
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Yahoo
29 minutes ago
- Yahoo
Augmented reality can show local residents future building plans in real time — and Tampa Bay wants in
InCitu is an augmented reality platform that lets users see infrastructure projects on a smartphone. Tampa Bay's planning council is using AR to give communities a look at new infrastructure changes. This article is part of "Build IT: Connectivity," a series about tech powering better business. The climate crisis has intensified the frequency and severity of flooding for many communities, prompting cities to turn to climate-resilient infrastructure. At the Tampa Bay Regional Planning Council, a growing challenge is communicating these solutions to residents and officials. Sarah Vitale, the director of civic technology at the TBRPC, which provides local governments with technology to aid in climate resilience planning, including flooding and hurricane preparedness, often uses 2D images and renders to showcase new infrastructure, such as stormwater drainage systems. However, these tools failed to show the scale of the projects. Last year, Vitale partnered with InCitu, a New York-based augmented reality startup, to give communities a clearer picture of future infrastructure developments. "What better way to do that than to really let them experience it in real time in the physical space?" Vitale said. InCitu's AR platform is designed to help government agencies, real estate developers, urban planners, and architects show colleagues or community members what proposed buildings and infrastructure projects will look like once completed. "I wanted to communicate this type of information so that a non-professional can experience it as they walk down the street," Dana Chermesh-Reshef, the CEO of InCitu, told Business Insider. InCitu's technology has also launched in seven other US cities, including Washington, DC, and New York. Chermesh-Reshef founded InCitu in 2020 after realizing the usual software tools used to present infrastructure projects, such as PowerPoint presentations and 2D renders, struggled to show a project's full scale and scope from various angles. It can also be difficult to imagine a project in an environment like a conference room, entirely removed from where it will exist. InCitu's smartphone-based platform tackles this by turning 3D models into AR visuals, helping people see a project as it would appear in real life. Instead of using an AR headset, users can scan a QR code with a smartphone camera at a construction site — often a building, bridge, roadway, or sidewalk — to view the life-sized AR visualization. "You don't have to download any app. You walk down the street, there's a QR code on the ground or on the construction site," Chermesh-Reshef said. Users can use their smartphones to walk around a project and view it from any angle they can access. InCitu also supports off-site viewing, so users can view a 3D model of the project without visiting its geographical location. InCitu uses geospatial data, which draws on satellite and street view imagery, to decide where an imported 3D model should appear for on-site viewing. Geospatial data is also used to keep the 3D model in the right location as a user moves around it in the real world. Vitale encountered InCitu on LinkedIn in January 2024 while preparing for TBRPC's annual regional resiliency summit. This two-day event brings together roughly 300 elected officials, subject experts, and residents to find solutions for the region's climate risks. Vitale wanted a way to give attendees a scaled, realistic visualization of building changes and infrastructure that can manage flood risks. Vitale used InCitu to show three AR models of new projects during on-site visits near the event: a house elevated on stilts to demonstrate flood-resistant construction, a bioswale showing natural stormwater management, and a living shoreline that uses natural materials to combat eroding beaches. Vitale said that her organization's use of InCitu is still in the "marketing phase" and that its role at the resiliency summit was in part to let attendees and prospective clients know her team can provide AR technology for infrastructure planning. She said the reception so far has been positive. "It's not a big, dense document. It's something interesting that people can engage with and start experiencing a planning process in a new way," Vitale said. She added that AR displays can reduce the "engagement fatigue" that can accompany lengthy meetings and complex 2D visualizations. The technology's effectiveness convinced TBRPC to use InCitu for AR demonstrations at its 2025 summit in May. The organization also plans to use InCitu to educate students at local high schools about bioswales and other infrastructure solutions to flooding. "We can take them to a site that's full of concrete and show them other ways to naturalize the surface, to handle some of the water, when it's pouring rain," Vitale said. She hopes the technology will help students understand alternatives to less permeable "gray" infrastructure, like concrete. Vital said she expects the use of AR tools like InCitu to become standard practice in urban planning as newer, younger graduates with better knowledge of 3D modeling, AR, and other new technologies enter the field. So far, InCitu has made over 5,000 future developments available in AR, and over 250,000 residents have viewed future projects near their communities using the company's AR platform. "I'd like to see planning move in that direction, because of how powerful a communication tool that visualization is," she said. Read the original article on Business Insider
CBS News
29 minutes ago
- CBS News
Egg prices for consumers fell to 5-month low in May. Here's why.
Consumers are finally getting a break when it comes to egg prices. Egg prices dropped to $4.55 in May, down 11% from $5.12 in April, according to data from the Bureau of Labor Statistics. The price drop for a dozen Grade A large eggs comes as the effects of a years-long, widespread avian flu outbreak recede and demand for eggs softens slightly, as it usually does this time of year. "There are two main drivers behind the drop in prices — abatement in the conversation about bird flu, and some seasonality in uses of eggs. Typically as we move into summer, demand for eggs soften, as people shift to consuming more meat and grilling outdoors," Brett House, an economics professor at Columbia Business School, told CBS MoneyWatch. "People aren't making heavy breakfasts, so we don't see demand for eggs being as strong as it typically is during the winter months." While egg prices have declined for two consecutive months, down from $6.23 a dozen in March, they remain elevated compared with 12 months ago. In May 2024, a dozen eggs cost $2.70. David Ortega, a food economics professor at Michigan State University, told CBS MoneyWatch that avian flu containment has been responsible for most of the decrease in the average price of eggs. "This is primarily due to a reduction in the number of commercial facilities that have been impacted by the bird flu," he said. "A lot of bird flu activity in the beginning of the year led to a significant surge in egg prices, but those impacts have really lessened over the past couple of months." Wholesale egg prices began to decrease in March, according to Ortega, and the price drops are now starting to show up at the retail level. "There's a bit of a lag before they reach consumers at the grocery store," he said. The bird flu outbreak, which began in the spring of 2022, is not yet entirely contained and continues to impact the industry, he cautioned. "It's still very much an issue," Ortega said. A May outbreak at an Arizona layer farm affected nearly 1.4 million birds, according to data from the U.S. Department of Agriculture. Consumer Price Index data shows that while overall food costs rose slightly in May, egg prices dropped. "But egg prices are still substantially higher than they were 12 months ago, even after two months of decreases," House said.
Forbes
30 minutes ago
- Forbes
Experts Say Retail Inflation Fears Have Moderated. Don't Believe It.
The inflation from tariffs takes time to arrive. getty The Wall Street Journal reports that the 2.4% (annualized) inflation in retail consumer prices in May was lower than expected and defies 'fears that the impact of President Trump's tariffs would start to show a rise in prices.' The New York Times says inflation is 'muted, with limited effects from tariffs.' Don't listen. There's a lot of reasons why the information for May is not indicative of what will happen the rest of the year. Here's why: When manufacturers abroad increase prices, it takes time to go through the system. Goods ordered today typically don't get delivered for another 90-180 days. That's the primary reason why inflation for May is moderate. The products being bought today were ordered and delivered before higher tariffs ever happened. But there are other reasons. Brands and wholesalers usually do everything they can to avoid price increases. As long as they're still selling older inventory that came in at lower tariff rates, they are going to hold off on increasing prices. The CEOs I talk to in the supply chain are trying to hold the line. They are sharing the cost of the tariffs among manufactuers, wholesalers and retailers so that they don't have to raise prices. That can work for a little while but it's not going to work for very long. There's also another short-term factor that's holding prices low. Wholesalers, brands and retailers are bringing out their slow-moving inventory. Because it can be sold at the old pre-tariff price, it's more attractive now than ever. Those less fashionable, slow-selling products are increasing the supply which is holding prices down. It's another short-term fix and it won't last for long. Because of timing, the inflation from tariff increases will show up at your local retailer in the third and fourth quarter. You will start to see it in the back-to-school season. It won't be in school basics that are ordered from manufacturers well in advance, like pencils and uniforms. You'll see it in discretionary items that are ordered closer to delivery dates, like licensed products or the latest toys. The fourth quarter is where the real impact will come. That's when almost no products on store shelves will have pre-tariff prices and increases will be unavoidable. While tariffs are the main driver of price increases, they aren't the only driver. The uncertainty around tariffs has made retailers very conservative. They are holding back on commitments to large orders of discretionary items. The things you want most won't be available to late shoppers or they may be more expensive. That conservative approach means less excess inventory this year, fewer sale items and fewer day-after items available. That will put upward pricing pressure on retailers and facilitate price increases. Coupled with the increased costs from tariffs, prices can only go in one direction and that's up. When you look at how consumers are acting, you can see it. Discretionary item sales in many categories were up a lot in April, as was foot traffic in stores. Consumers are advancing their purchases to beat the increases. Inflation is a self-accelerating phenomenon. The expectation of inflation causes workers to ask for more wages and their employers have to raise prices and the cycle keeps on going. Breaking the cycle is the challenge. Any basic cost increase including tariffs will push the inflationary cycle. It's on its way here and you will see it in good time.
