The U.S. housing market is cooling as overinflated home prices, high mortgage rates, rising inventory, and weakening demand take their toll. Home price growth slowed to 1.3% in June—its lowest in two years—while nearly one-third of major markets are seeing annual price declines of at least 1%. Inventory rose 29% from last year, though gains are tapering. High mortgage rates, averaging in the high 6% … Continue reading Nearly one-third of major U.S. housing markets now see falling home prices

Charles Schwab reported a nearly 60% jump in second-quarter profit, fueled by strong trading activity and higher asset management fees amid market volatility driven by President Trump’s tariff policies. Net income rose to $2.13 billion, or $1.08 per share, up from $1.33 billion a year earlier. Trading revenue climbed to $952 million, and total client assets hit a record $10.76 trillion, Reuters has reported. Shares … Continue reading Charles Schwab profit surges on trading boom, asset growth

Union Pacific and Norfolk Southern are in merger talks to form the largest railroad in North America, connecting the East and West Coasts. The deal would unite the largest and smallest of the six major U.S. freight railroads. While both companies declined to comment, approval from the Surface Transportation Board (STB) could be challenging due to strict merger rules set in 2001. Proponents say the … Continue reading Union Pacific, Norfolk Southern discuss merger to create transcontinental railroad

U.S. Treasury yields fell Friday as investors reacted to strong economic data and rising trade tensions. The 10-year yield dropped to 4.423%, while the 2-year fell to 3.87%, and the 30-year to 4.99%. Sentiment was boosted by solid consumer confidence, improved housing data, lower inflation expectations, and stronger-than-expected jobless claims and retail sales. However, market concerns grew after reports that President Trump is demanding 15–20% … Continue reading Treasury yields inch lower as investors weigh economic data, tariff threats

President Donald Trump claimed Coca-Cola will start using cane sugar for its U.S. products, but the company did not confirm this when asked. Trump said on Truth Social that Coca-Cola agreed to his idea, calling it a “very good move,” but Coca-Cola only responded by thanking him for his enthusiasm and promising news on new products soon. Coca-Cola’s U.S. sodas are typically sweetened with corn … Continue reading Coca-Cola dodges after Trump says soda will switch back to cane sugar

Amazon is laying off an unspecified number of employees in its cloud division, AWS, as part of ongoing efforts to streamline operations and refocus priorities. The company said the cuts are not primarily due to AI investments and continues hiring in other AWS areas. The move follows recent revenue slowdowns and is part of broader cost-cutting efforts under CEO Andy Jassy, who has overseen over … Continue reading Amazon cuts some jobs in cloud computing unit as layoffs continue

The FDA has authorized Juul Labs to continue selling its e-cigarettes and menthol/tobacco-flavored pods, concluding a years-long review. The agency found the products met the legal standard for marketing, though not necessarily that they are safe. Juul argued its products help adult smokers switch from traditional cigarettes. Critics, including the Campaign for Tobacco-Free Kids, warned the decision could reverse progress in reducing youth vaping. Juul … Continue reading Juul can continue to sell e-cigarettes, FDA says

Bank of America reported mixed Q2 results, beating earnings expectations with 89 cents per share but missing on revenue at $26.61 billion. Profit rose 3% to $7.12 billion. Net interest income increased 7% but came in below forecasts. Trading revenue was strong, with fixed income beating estimates, while equities trading was slightly below expectations. Investment banking fees fell 9% but topped analyst projections, CNBC has reported. Shares were … Continue reading Bank of America puts up mixed results

Goldman Sachs beat expectations in the second quarter, with earnings of $10.91 per share on $14.58 billion in revenue, both well above estimates. Profit rose 22% from a year earlier. Strong trading performance—especially equities trading, which jumped 36%—drove most of the gains. Fixed income trading and investment banking also beat forecasts, while the asset and wealth management division underperformed, CNN has reported. Goldman shares were up 23% … Continue reading Goldman Sachs tops estimates as traders generate $840 million more revenue than expected

Stocks swung sharply Wednesday after reports that President Trump was considering firing Federal Reserve Chair Jerome Powell. Markets initially fell but rebounded when Trump denied he planned to remove Powell “in the near future,” though he didn’t rule it out entirely. The S&P 500 closed up 0.32%, the Nasdaq 0.26%, and the Dow 0.53%. Traders remained wary given Trump’s repeated calls for steep rate cuts. … Continue reading Dow adds 200 points, S&P 500 rises

Bitcoin hit a new all-time high above $123,000 on Monday, up sharply from $108,000 a week earlier, pushing its market cap to $2.4 trillion—making it the world’s fifth most valuable asset. The surge comes as the U.S. Congress begins “crypto week,” considering multiple pro-crypto bills, including stablecoin regulation and a broader market-structure overhaul. President Trump has promised to make the U.S. a global crypto hub … Continue reading Bitcoin soars to new all-time high as US lawmakers focus on pro-crypto legislation

Starbucks is requiring its corporate employees in the US and Canada to work in the office four days a week (Monday–Thursday) starting in October, up from three days. Those unwilling to comply will be offered a one-time payout to leave. CEO Brian Niccol said the change supports Starbucks’ focus on “human connection” and its business turnaround amid falling sales. Some managers will also have to … Continue reading Starbucks staff must work in the office four days a week

Nvidia announced it may soon resume sales of its H20 AI chips to China after the U.S. government indicated it would grant export licenses—a major boost for the company hit by prior export restrictions. The H20 chips were originally designed to bypass earlier U.S. curbs. The move follows Nvidia CEO Jensen Huang’s meeting with President Trump and growing U.S.-China trade cooperation. Nvidia also unveiled a … Continue reading Nvidia says it will resume H20 AI chip sales to China soon

The cost of mailing a letter in the U.S. increased by 5 cents on Sunday, with first-class stamps rising from 73 to 78 cents. Metered letters now cost 74 cents, domestic postcards 61 cents, and international mail $1.70. This marks the 10th rate hike in nine years. The USPS plans further increases through 2027, NBC 5 Chicago has reported. Meanwhile, the Trump administration has discussed … Continue reading USPS stamp prices officially rose Sunday

Hartford Bakery, Inc. is recalling about 883 loaves of its “Lewis Bake Shop Artisan Style 1/2 Loaf” bread because it may contain undeclared hazelnuts, posing a risk of severe allergic reactions for those with nut allergies. The recall covers six production lots sold at retailers like Kroger and Walmart in 12 states. No serious injuries have been reported, though one customer had digestive discomfort, CBS … Continue reading Hartford Bakery, Inc. voluntarily recalls hundreds of loaves of artisanal bread sold in 12 states

National Economic Council Director Kevin Hassett said Sunday that the Trump administration is reviewing whether it has the authority to fire Federal Reserve Chair Jerome Powell before his term ends next spring. While Trump has said he doesn’t want to remove Powell, Hassett’s remarks suggest the White House is exploring the option, citing questions about the Fed’s $2.5 billion headquarters renovation. Budget Director Russell Vought has … Continue reading Trump ‘certainly’ can fire Fed chair Powell ‘if there’s cause’: Hassett

Ford is recalling over 850,000 vehicles in the U.S. due to a potential low-pressure fuel pump failure that could cause engine stalls and increase crash risk. The recall affects various 2021-2023 Ford and Lincoln models, including Broncos, Explorers, F-150s, Aviators, and Navigators. Owners will be notified starting July 14, but a fix is still being developed. Ford has not reported any accidents linked to the … Continue reading Ford recalls over 850,000 cars in the US due to potential fuel pump failure

Delta Air Lines reinstated its 2025 profit forecast, expecting a stronger summer travel season than analysts predicted, though earnings guidance was lowered from earlier estimates. CEO Ed Bastian noted bookings have stabilized but with customers booking closer to travel dates. Delta plans “surgical” flight cuts after the peak summer period and expects third-quarter earnings slightly above Wall Street estimates. The airline’s revenue grew 1% in … Continue reading Delta shares jump 11% after airline reinstates 2025 profit outlook

Federal Reserve officials were divided at their June meeting over how soon and how much to cut interest rates, balancing concerns about tariff-driven inflation with signs of economic and labor market slowing. Minutes released Wednesday showed they unanimously held rates steady at 4.25%-4.5%, while most expected at least some cuts this year if inflation stayed manageable. Views varied widely, from wanting cuts as soon as … Continue reading Most Fed officials see rate cuts coming

Nvidia became the first publicly traded company to hit a $4 trillion market value on Wednesday after its stock rose 2.5% to a record high. The U.S. chipmaker has surged about 20% this year, fueled by booming demand for its AI chips that power data centers for companies like Microsoft, Amazon, and Google. Nvidia overtook Apple and Microsoft to reach the milestone first. The company’s revenue … Continue reading Nvidia beats Apple and Microsoft to become the world’s first $4 trillion public company

Linda Yaccarino announced Wednesday that she is stepping down as CEO of X, the social media platform owned by Elon Musk. Her resignation comes shortly after X’s Grok chatbot was shut down for posting antisemitic content. Yaccarino did not mention the controversy in her farewell message, instead praising the team’s efforts to improve user safety and regain advertiser trust. Hired in May 2023 to lead … Continue reading Linda Yaccarino to step down as CEO of X

Exxon Mobil warned that lower oil and gas prices could reduce its second-quarter earnings by about $1.5 billion compared to the previous quarter. Brent crude prices fell 11% and U.S. natural gas prices dropped 9% in Q2 due to increased OPEC+ supply. Exxon is expected to report adjusted earnings of $1.53 per share for the quarter when it releases full results on August 1, the … Continue reading Exxon Mobil warns lower oil, gas prices could cut profit by over $1B

Samsung Electronics forecast a 56% drop in second-quarter profits, projecting an operating profit of 4.6 trillion won, far below analyst expectations. The decline is attributed to inventory adjustments, U.S. restrictions on advanced AI chips for China, and lagging behind rivals like SK Hynix in high-bandwidth memory (HBM) chips critical for AI. Samsung is still working to get its latest HBM chips certified by Nvidia, the … Continue reading Samsung expects second-quarter profits to more than halve as it struggles to capture AI demand

Wendy’s CEO Kirk Tanner has been named the new chief executive of The Hershey Company, effective August 18, succeeding Michele Buck, who is retiring after nearly 20 years with Hershey. Tanner, who joined Wendy’s in 2024 after a long career at PepsiCo, will return to the consumer packaged goods sector. Hershey praised Tanner’s extensive experience in snacks, beverages, M&A, and innovation. Michele Buck will stay … Continue reading Wendy’s CEO Kirk Tanner tapped to lead Hershey

U.S. 10-year Treasury yields rose Monday as investors reacted to trade tensions surrounding the expiration of a 90-day tariff reprieve, with tariffs set to revert to April levels this week. President Trump also threatened new 10% tariffs on countries supporting “Anti-American policies” of the BRICS group. Treasury Secretary Scott Bessent hinted at several upcoming trade announcements, CNBC has reported. BRICS leaders condemned Trump’s tariff actions … Continue reading 10-year Treasury yield rises as Trump extends tariff deadline