Business News

Auto prices hit record high

U.S. stocks come off a positive May that had anything but a positive ending, with the S&P 500 posting losses in six of the last eight sessions. Stocks are moving modestly higher this morning, as investors look ahead to a busy week of economic numbers culminating in Friday's May employment report. (CNBC)

April personal income rose 0.4% and spending is flat, after income was unchanged in March and spending was up 0.5%. (Bloomberg)

A record number of Americans are turning to auto leases as new vehicle prices climb to all-time highs. Experian Automotive found 31.5% of new vehicles financed in the first quarter were leased as consumers try to keep monthly payments as low as possible. (CNBC)

O'Reilly Automotive announced it would add an additional $500 million to its stock buyback program, bringing the auto parts retailer's total authorization to $5.5 billion.

Dollar Tree will sell 330 stores to private equity firm Sycamore partners, in order to smooth the way for regulatory approval of its planned acquisition of Family Dollar. Financial terms were not disclosed.

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