Erika Herskowitz

Golnar Montevalli is head of Bloomberg's Iran coverage.

Bloomberg's Golnar Montevalli, another one of President Trump's perceived political enemies, is reportedly facing a criminal investigation.

Multiple outlets are reporting the Justice Department is opening a probe into E. Jean Carroll, the Manhattan Magazine writer, who won a sexual assault and defamation lawsuit against the president.

We get more from Bloomberg's John Tucker.

Bloomberg's John Tucker says acting Attorney General Todd Blanch has reportedly recused himself from the investigation because he served as President Trump's personal attorney during Carroll's lawsuit.

A new report shows inflation is on the rise.

Consumer spending edged up last month while war-driven energy prices sent the Fed's preferred gauge of inflation to its highest level since 2023.

Deutsche Bank chief U.S.

economist Matthew Luzzetti says the inflation trend may be even worse than that.

Deutsche Bank chief U.S.

economist Matthew Luzzetti.

Right now, markets aren't fully pricing in a rate hike until March of next year.

We also got new home sales numbers from the Census Bureau.

622,000 single-family homes sold last month.

Economists were looking for 660.

And while consumers may be facing some pressure, the stores they're shopping at are doing pretty well.

Kohl's, Best Buy, Dollar Tree all reported better than expected earnings, with shoppers getting what they want when they see it at the right price.

Emily Cohn covers retail for Bloomberg News.

Bloomberg's Emily Cohn reporting, Dollar Tree, Best Buy and Kohl's are all ahead 17%.

A big casino merger is in the works.