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Home ownership further out of reach as rising prices, high mortgage rates widen affordability gap
U.S. homebuyers now need $114K+ income to afford a median-priced home. High mortgage rates and rising prices keep ownership out of reach for many.
U.S. adds 177K jobs despite trade war, hiring slows
U.S. employers added 177,000 jobs in April, beating expectations. Labor market remains resilient despite trade wars, tariffs, and federal job cuts.
Average rate on a US 30-year mortgage eases to 6.76%, its second straight weekly decline
U.S. mortgage rates dipped to 6.76%, offering slight relief to buyers, but high costs and rising home prices continue to dampen spring housing activity.
Microsoft and Meta Platforms lead Wall Street higher
Microsoft and Meta beat earnings expectations, boosting Wall Street, even as fears of stagflation and economic uncertainty continue to loom.
Kohl’s ousts CEO Buchanan after investigation into some vendor transactions
Kohl’s has fired CEO Ashley Buchanan over undisclosed vendor conflicts. Chairman Michael Bender takes over as interim CEO during ongoing leadership search.
Weak GDP report tied to tariffs has Trump trying to blame Biden on the state of the economy
Trump economy, GDP decline, U.S. tariffs, Biden blame, stock market, trade war, recession warning, import taxes, economic policy, CHIPS Act
US inflation cools and Americans step up spending as they brace for tariff impact
Inflation slowed to 2.3% in March while consumer spending jumped, especially on cars, ahead of Trump's tariffs. Fed expected to hold interest rates.
Wall Street bounces back from an early loss as volatility continues
US stocks slide after weak GDP data sparks stagflation concerns, tariff uncertainty, and AI sector pullback. Dow drops 479 points on economic fears.
Major companies face a difficult task in estimating the impact of tariffs on their business
Top companies like Kraft Heinz, JetBlue, and GM report financial strain and outlook changes as Trump’s tariffs drive economic and consumer uncertainty.
US consumer confidence plunges to lowest in 5 years on tariff worries
Consumer confidence in the U.S. fell for a fifth straight month, hitting the lowest level since 2020 amid rising tariff concerns and recession fears.
Wall Street’s rally fades as more CEOs talk about uncertainty because of Trump’s trade war
Wall Street’s rally stalls as macroeconomic uncertainty, weak forecasts, and shifting tariffs weigh on stocks. Big Tech helps limit broader losses.
Retailers misjudge shopper priorities, loyalties amid rising costs, said Rakuten report
More than half of consumers say they plan to prioritize products with the lowest prices when shopping in the coming months, while only 5% of retailers think shoppers will choose to trade down to lower quality products and less expensive brands.
