>>Existing Home Sales Fall In September
(Washington, DC) -- Sales of previously owned homes fell to their lowest level since 2010 in September. The National Association of Realtors says existing home sales dropped another two-percent last month to an annual rate of fewer than four-million units. The group's chief economist blamed the lack of inventory and high mortgage rates for hampering sales. Overall, exisiting home sales are down more than 15 percent from one year ago.
>>Jobless Claims Down
(Washington, DC) -- First-time jobless claims are down. The Department of Labor says it received 198-thousand initial unemployment insurance requests for the week ending October 14th. That's down from the previous week's 209-thousand and below estimates of 210-thousand. It's also the first time since January that jobless claims in the U.S. have dropped below 200-thousand. The drop in claims is an indicator that the U.S. labor market remains tight.
>>Netflix Raising Prices
(Los Gatos, CA) -- Netflix is raising prices. The company announced that its premium ad-free plan will jump by three-dollars a month to 22-99, starting this week. The basic plan will increase to 11-99 in the U.S., while other plans will stay at the same price. The company also reported Wednesday third-quarter subscription numbers, showing a nine-percent increase in paid accounts year-over-year. Some of that growth is thanks to the company's crackdown on password sharing.
>>SpaceX Says U.S. Could Lose Space Dominance Because Of Regulations
(Washington, DC) -- A top executive with SpaceX says government regulations could be risking U.S. dominance in space. SpaceX vice president William Gerstenmaier made that comment Wednesday during a Senate hearing on commercial space regulations. The private space company is facing a safety review of its plans to launch a giant moon rocket from its facility in South Texas. Gerstenmaier told the subcommittee, "It's a shame when our hardware is ready to fly and we're not able" because of regulations. He then warned, "eventually we will lose our lead and we will see China land on the moon before we do."
>>Tesla Sees 3Q Earnings Drop
(Austin, TX) -- Tesla saw a drop in third quarter earnings that fell below Wall Street expectations. The electric car maker yesterday reported earnings of two-point-three billion dollars, down 37 percent from a year earlier. It's the smallest profit the company has seen in two years. The company in part points to shutdowns on several production lines for upgrades.
>>Report: Cost Of Health Insurance Plans Is Going Up
(San Francisco, CA) -- The cost of health insurance is going up. The Kaiser Family Foundation released its annual employer health benefits survey earlier today and the average cost for a family health insurance plan offered through an employer rose seven-percent this year. The report says it's the highest rate increase in a decade, and that higher prices are likely in the coming weeks when employers start enrollment for 2024 insurance plans. Over 150-million Americans get health insurance through their jobs.
