Inflation is exposing a major divide in the US economy according to Citi Retailing and Hardlines Analyst Steven Zaccone, He joins Bloomberg Open Interest to explain why wealthy consumers keep spending while lower-income shoppers struggle with rising gas and living costs. From Walmart and BJ’s to Williams-Sonoma and AutoZone, we look at the retail winners and losers in today’s “K-shaped” economy. (Source: Bloomberg)

On this episode of Stock Movers with Alexis Christoforous: - Shares of CoreWeave (CRWV) and other neo-cloud companies slump premarket after Alphabet agreed to create an artificial intelligence cloud business with Blackstone. Google agreed to create an AI cloud business with Blackstone. - Meta (META) shares are moving as it's reassigning workers to new jobs related to artificial intelligence as part of a broad corporate restructuring. The new corporate structure will be "flatter" and mean "smaller teams", according to Chief People Officer Janelle Gale. - Home Depot (HD) shares are moving in the premarket after sales at Home Depot locations open at least a year rose 0.6% during the three months ended May 3, slightly below the average of analysts’ estimates. Home Depot’s business has been hit by elevated interest rates and high housing prices, which have sparked a pullback in home purchases and upgrade projects. (Source: Bloomberg)

Home Depot missed sales expectations at locations open at least a year, rising 0.6% in the latest quarter, as muted housing demand and high borrowing costs limited consumer spending on improvement projects. Drew Reading of Bloomberg Intelligence has more. (Source: Bloomberg)

Amazon.com Inc. coerced Levi Strauss & Co. and other prominent brands into an alleged price-fixing scheme that influenced costs for a wide variety of goods on retail websites operated by Walmart Inc., Target Corp., Home Depot Inc., Chewy Inc. and others, according to court documents unsealed Monday.

Home Depot Inc. is offering cautious preliminary guidance for next year, a sign that the home-improvement retailer doesn’t anticipate the housing market to rebound in the short term.