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Cavorting salesmen and a new 5K foot toy store. (0:00) Core inflation stays firm as GDP revised higher. (1:16) Amazon overtakes Walmart as the largest U.S. retailer. (2:39)

This is an abridged transcript of the podcast:

Our top story so far, Nordstrom is turning to one of the most storied names in toys to offer more for kids in its stores.

The retailer has announced a new partnership with FAO Schwarz to significantly expand its toy assortment across its stores and online platform.

Earlier this week, FAO Schwarz opened a 5,000-square-foot shop inside Nordstrom's New York flagship store at 57th Street and Broadway.

The companies will also roll out "Jewel Box" toy shops in eight Nordstrom locations across the U.S. next month.

The shops will feature toy demonstrations, storytelling and interactive experiences, with a curated selection of FAO Schwarz signature and specialty toys.

The partnership extends beyond merchandise, with Nordstrom hiring FAO Schwarz Toy Specialists in select stores to deliver guided play and interactive selling.

FAO Schwarz is one of America's oldest toy retailers, founded by German immigrant Frederick August Otto Schwarz around 1862.

Over the decades, the company became famous for its theatrical shopping experience, elaborate window displays, mail-order catalogs and iconic teddy bears.

Looking at the economy, bond traders got a mixed set of numbers, with inflation comparatively tame but the final reading of Q1 GDP coming in stronger than expected.

The core PCE price index, still the Federal Reserve's preferred inflation gauge until a Kevin Warsh task force tells us differently, rose 0.3% in May, in line with expectations.

That pushed annual core inflation to 3.4%, still well above the Fed's 2% target.

Meanwhile, the final reading on Q1 GDP, usually a non-event, was revised up to 2.1% from the second estimate of 1.6%.

The increase mainly reflected a downward revision to imports, partly offset by a downward revision to consumer spending.

Heather Long, chief economist at Navy Federal Credit Union, said consumer spending remains the backbone of the U.S. economy and that while the "anemic" 0.5% growth figure should rebound in Q2, "it's worth watching closely."

Among active stocks, Apple (AAPL) is lower after raising the starting price of many of its devices, including the MacBook Neo, because of the unprecedented memory shortage.

Sandisk (SNDK) is surging alongside the Micron-fueled (MU) rally.

Citi raised its price target on the storage maker to $2,500 and opened a 90-day upside catalyst watch.

And Wendy's (WEN) remains highly volatile as it continues its meme-stock ride.

Vanda Research said the setup has clear echoes of the retail-driven short squeezes that became a defining feature of markets in 2021.

And in other news of note, Amazon (AMZN) overtook Walmart (WMT) sometime last year to become the largest retailer in the U.S., according to the latest analysis from JPMorgan.

The last retailer to surpass Walmart in sales was Sears.

Analyst Doug Anmuth said Amazon could hold onto the top spot in gross merchandise value thanks to its vast selection, competitive pricing and fast delivery.

The company is estimated to account for 47% of the U.S. e-commerce market.