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US Workers' Real Wages Slide as Corporate Profits Surge

By Oliver BennsOctober 19, 2026

US consumer prices rose 3.7% in September from a year earlier, the sharpest annual jump since May, driven by gas prices up 34% over the past year. Inflation-adjusted earnings have now fallen for six straight months, with average hourly pay down 0.7% year-on-year. The squeeze lands as S&P 500 earnings have climbed nearly 40% since January, deepening a split in which corporate profits roar while household paychecks lose ground.

CoreWeave Debt Yield Hits 15%, Dragging AI Stocks Lower

The yield on one of CoreWeave's bonds touched a record 15% last week, triggering a 26% slide in the stock and spreading pain across the AI infrastructure complex. Memory names Micron and SK Hynix fell 16% and 18%, while Nvidia, AMD and Oracle also closed sharply lower. With $52bn in debt against a $37bn market cap, rising borrowing costs are eating into the equity cushion of the neocloud sector.

Anthropic's $2tn IPO Pitch Meets Public-Market Skepticism

Anthropic reported third-quarter revenue of $16.8bn, up roughly 50%, but the pace marks a sharp deceleration from the prior quarter's doubling. Reported gross margins of 85% exclude training costs, the company's largest expense, and the firm leaned on an 11% adjusted operating margin to signal profitability. The disclosures land as Anthropic reportedly eyes a $2tn public debut, a multiple that would dwarf chipmakers trading at around 10 times sales.

Bumble Taken Private at $1.3bn, 90% Below IPO Mark

Bumble has agreed to a $1.3bn take-private deal with Ithaca Holdings, five years after going public at a $14bn valuation. The dating app has struggled with falling paying users and weaker revenue, mirroring an 80% drop at rival Match Group from its peak. Constellation Brands meanwhile posted stronger beer sales and a 17% jump in wine and spirits revenue, with Gen Z weekly bar-going rising from 26% to 32% over the past year.