Stock futures rise, oil gains, gasoline trends fall: LIVE UPDATES
Home sellers lower asking prices as mortgage rates rise
Real estate adviser Kirsten Jordan discusses rising mortgage rates and the ‘cloudy’ housing market as first-time home buyers grapple with soaring prices and weak demand.
ProShares launches supply chain logistics ETF
The ProShares Supply Chain Logistics ETF trades under the symbol SUPL and provides exposure to 40 shipping, railroad, air freight, trucking, technology and brokerage companies that make up the FactSet Supply Chain Logistics Index. .
The fund’s top 10 holdings include Canadian Pacific Railway, Union Pacific Corp., CSX Corp., UPS, Amadeus IT Group SA, Evergreen Marine Corp., FedEx, DSV A/S, Expeditors International of Washington Inc. and Kuehne+Nagel International AG. .
Walmart offers new truckers a starting salary of up to $110,000
As part of an effort to keep its supply chain moving, Walmart is offering new truck drivers a starting salary range of $95,000 to $110,000 for their first year.
The retailer has also launched a 12-week Private Fleet Development Program, where its existing supply chain employees in Texas and Delaware can obtain their Commercial Driver’s License (CDL).
McDonald’s is bringing back a spicy fan favorite to select locations
McDonald’s has announced the return of a sold-out menu favourite: the Spicy McNugget.
The item, which became a quick hit with fans in 2020, will only return to select McDonald’s across the country.
Murphy beds sold on Amazon, Costco recall after woman was crushed to death
Nearly 130,000 Murphy beds that had been on the market for about eight years are being recalled after one fell on a 79-year-old woman in 2018, according to the U.S. Consumer Product Safety Commission (CPSC). and killed her.
Bestar and the CPSC jointly announced the recall of 129,000 Bestar Murphy beds “due to severe impact and crushing hazards,” according to a notice released by the CPSC.
Hot property market ‘probably can’t sustain itself’, estate agent warns
As 30-year mortgage rates hit three-year highs, you might think it’s safe to assume buyer demand has cooled, but a real estate agent is sounding the alarm over the market overheating.
“You would have thought it would slow down, but literally people were waiting around the block for four hours,” Redfin agent Ian Rubinstein told FOX Business’ Connell McShane of a recent listing in Woodmere, New York. York, which had 15 offers by the end of the day.
“Being in the real estate business, I want it to last forever. But be rational? This cannot sustain itself,” warned Rubinstein.
Stocks mixed, bond yields climb as Fed continues to weigh
US stocks were mixed on Friday as investors continued to digest signals regarding Federal Reserve policy.
Stagflation risks rise as war in Ukraine fuels even higher inflation
The U.S. economy is at increasing risk of sliding into a 1970s-style stagflation crisis as the Russian-Ukrainian war exacerbates already sky-high inflation, according to a new analysis.
The Economist Intelligence Unit, in a note on Thursday, predicted consumer prices will continue to hover near a 40-year high “at least through the middle of the year”, weighing on consumer spending. consumption and real GDP growth. The London-based group has already lowered its forecast for US GDP this year from 3.4% to 3%.
Deutsche Bank forecasts US recession in 2023 due to Fed rate hike
An economic recession is on the horizon in the United States as the Federal Reserve operates an aggressive pivot to cool the highest inflation in four decades, according to economists at Deutsche Bank.
“We no longer see the Fed achieving a soft landing,” Deutsche Bank economists led by Matthew Luzzetti said in the analyst note. “Instead, we expect more aggressive monetary policy tightening to push the economy into a recession.”
Stock futures boost gains after benchmarks fall
U.S. equity futures traded higher on Friday morning, pointing to further gains after stocks broke a two-day skid. continue reading
Oil prices are trading higher, heading for a weekly decline
Oil prices rose on Friday morning as a reported planned release of 240 million barrels from emergency stocks offset some concerns about cuts in supplies from Russia caused by Western sanctions. continue reading
Bitcoin is trading around $43,000, down 4% for the week
Bitcoin is trading around $43,000 on Friday morning after falling for a fourth straight day. bitcoin is down more than 4% since the beginning of the month and more than 5% since the beginning of the year. continue reading
Gasoline keeps slipping
The average price of a gallon of gasoline in the United States slipped to $4.139 on Friday, according to the latest figures from AAA. Thursday’s price was $4.153. The previous high was $4.33, set on Friday, March 11, 2022.