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Beige Book: Modest Wage Growth; Dell Jumps on AI Servers — Bloomberg Businessweek Daily
August Beige Book shows moderate wage and price gains; Chevron discusses Venezuela; Dell rises on AI server demand; Lemonade adapts insurance for autonomous cars; Tennessee town battles Christian nationalism.
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What stands out
Bloomberg paired a macro read and an oil deal: the August Beige Book showed wages and prices rising moderately, and Chevron's CEO walked viewers through a reported $7 billion investment in Venezuelan oil assets. That mix matters because a modest inflation backdrop keeps demand from collapsing, while Chevron's Venezuela bet is the kind of geopolitically fraught, long-lead investment that can remake production years from now. Markets were also buzzing about Dell's upgraded sales outlook, a reminder that tech narratives can steal attention from commodity stories in the short run.