Fox Business Briefs 6/9
All eyes on May inflation data this week; Andrew Yang wants to team up with Elon Musk; Apple's Developers Conference kicks off; The happiest place on earth celebrates 70 years.
Home sellers face harsh new reality as listings hit record $698B value
A growing gap between sellers and buyers in the housing market indicates a coming shift as inventory in the U.S. reaches its highest level in five years.
Walmart expands drone delivery service to 3 more states in race against Amazon
Walmart is expanding its drone delivery service to three more states in a bid to compete with rival Amazon.
Trump urges Fed's Powell to cut interest rates by full percentage point: 'Rocket Fuel!'
President Donald Trump criticized Federal Reserve Chairman Jerome Powell again, calling him "Too Late," and argued for a full percentage point interest rate cut.
Padel courts become the ultimate status symbol for wealthy homebuyers in luxury buildings
Luxury real estate developers are incorporating private padel courts as premium amenities in high-end residential buildings, attracting wealthy buyers willing to spend millions.
Job growth continued to slow in May amid economic uncertainty
The Labor Department reported that the U.S. economy added 139,000 jobs in May, as employers slowed the pace of hiring amid uncertainty over economic conditions and policies.
Procter & Gamble slashing up to 7,000 jobs amid restructuring effort
Procter & Gamble is slashing up to 15% of its non-manufacturing positions over the next two years as part of a broader restructuring effort. The cuts will affect up to 7,000 roles.
ECB cuts rates as bets build on a summer pause
The ECB has now lowered borrowing costs eight times since last June, seeking to prop up a eurozone economy that was struggling before U.S. economic policies dealt it further blows.
US businesses are dealing with a ‘cloud of uncertainty,’ expert says
MacroMavens President Stephanie Pomboy predicts the market’s growth expectations in reaction to the U.S. and China’s ongoing trade tensions.
Wall Street analyst Dan Ives launches AI ETF to tap tech boom
IVES AI Revolution exchange-traded fund offers investors access to artificial intelligence stocks selected by Wedbush’s leading tech analyst in a first for the firm.
Private sector added just 37,000 jobs in May, lowest in over 2 years, ADP says
The figure reported on Wednesday is well below economists’ estimates of 110,000 jobs and also down from the prior month’s revised reading of 60,000 jobs.
Meta signs 20-year nuclear power deal with Constellation
Meta Platforms has entered a deal to purchase nuclear power from Constellation Energy Corporation’s Clinton Clean Energy Center in Illinois, the company announced Tuesday.
Airlines are in 'arms race' to unveil upgraded luxury suites
United and American Airlines unveil new luxury suites with premium features, while Delta enhances its cabin design to capture the lucrative the business class market.
Jamie Dimon warns US debt and deficits are a growing problem
JPMorgan CEO Jamie Dimon highlighted the risks of rising U.S. debt and deficits, and he called for reforms to ensure economic growth and program sustainability.
Popular home decor retailer prepares to file for bankruptcy: report
At Home Group Inc. is reportedly set to file for Chapter 11 bankruptcy amid liquidity issues and tariff pressures, seeking new suppliers to mitigate financial challenges.
Mortgage rates rise for third straight week, hover near 7%
The average rate on the 30-year fixed mortgage rose this week to 6.89%, according to the latest Freddie Mac data released on Thursday. That is up from last week's reading of 6.86%.
Macy's joins retail giants warning of price hikes as tariffs weigh
Macy's is navigating tariff impacts, warning of selective price increases and strategic changes, aiming to sustain profitability amid a competitive retail landscape.
Nvidia stock is in ‘dangerous waters,' financial CEO warns
Circle Squared Alternative Investments founder and CEO Jeff Sica discusses his future expectations for Nvidia’s stock performance on ‘Varney & Co.’
Elon Musk confirms robotaxis will hit Austin streets by June
Constellation Research founder Ray Wang discusses the newest tech ideas during an appearance on ‘Varney & Co.’
Trump is pushing a lot of money into the defense sector: Vance Howard
Howard Capital Management CEO Vance Howard analyzes 'under-the-radar' defense stocks on 'The Claman Countdown.'