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Business

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2d ago

Here's how much more expensive the average home became over one year

The cost of U.S. homeownership has surged over the past year amid a push from the Federal Reserve to fight inflation.
A man walks his dog past a "for sale"
A man walks his dog past a "for sale"
3d ago

Resilient U.S. consumers spent more money in August, even as the Fed seeks to slow that down

It's a sign the economy is holding up even as inflation lifts prices for food, rent, and other essentials.
A shopper carries bags in San Francisco, on Sept. 29, 2022.
A shopper carries bags in San Francisco, on Sept. 29, 2022.
3d ago

Disney World to reopen Friday as Hurricane Ian passes north

The resort, as well as Disney Springs, will reopen on a phased-in basis.
Crowds walk at the Magic Kingdom Park
Crowds walk at the Magic Kingdom Park
3d ago

S&P 500 closes at new 2022 low as Apple leads broad market sell-off

A stronger-than-expected jobless claims report didn’t help sentiment. That built on the notion that the Fed will keep raising rates to fight inflation.
People visit the Apple Store in Grand Central Station
People visit the Apple Store in Grand Central Station
4d ago

U.S. economy drops at 0.6% annual rate from April through June

Most economists, citing a strong and resilient American job market, believe the world’s biggest economy is not yet in a downturn.
People shop at a supermarket on July 13, 2022, in New York.
People shop at a supermarket on July 13, 2022, in New York.
4d ago

Peloton will sell bikes, Treads at Dick’s Sporting Goods in its first brick-and-mortar partnership

After enjoying a surge in demand during the pandemic, Peloton has been fighting more recently to expand its customer base and stem its losses.
A Peloton bike
A Peloton bike
4d ago

Major U.S. banks will participate in climate scenario exercise

The exercise will kick off the Fed’s efforts to gauge the level and management of risks for banks when it comes to climate change.
Image: Federal Reserve Set Raise Rates Again To Combat Continued Inflation
Image: Federal Reserve Set Raise Rates Again To Combat Continued Inflation
4d ago

The 30-year home mortgage rate hits 6.7%, highest since 2007

Rising mortgage rates, among other market challenges, are causing home values to fall for the first time in 10 years.
A "Sold" sign outside a house under construction in Louisville, Ky., on July 1, 2022.
A "Sold" sign outside a house under construction in Louisville, Ky., on July 1, 2022.
4d ago

Bed Bath & Beyond reports a 28% drop in sales as it presses ahead with its turnaround plan

The company said late last month it would change its merchandise strategy, close 150 stores and lay off some employees as it also secured a new loan ahead of the holiday season.
Bed Bath & Beyond Cuts 56 Stores In Latest Turnaround Move
Bed Bath & Beyond Cuts 56 Stores In Latest Turnaround Move
4d ago

Orange juice could get even more expensive as Hurricane Ian hammers Florida's citrus crop

More than 90% of America’s orange juice is made from Florida-grown oranges.
Florida Citrus Crops Endangered By U.S. Cold Snap
Florida Citrus Crops Endangered By U.S. Cold Snap
4d ago

Stocks rebound from 2022 low; Dow closes up more than 500 points

The rally was broad-based, with 485 stocks in the S&P 500 trading higher.
Image: Dow Drops Sharply After Federal Reserve Interest Rate Announcement, NYSE
Image: Dow Drops Sharply After Federal Reserve Interest Rate Announcement, NYSE