>>Trading Week Winding Down
(New York, NY) -- The trading week is winding down on Wall Street after stocks saw a slightly higher close yesterday. This comes as investors look forward to today's release of new inflation data. The Federal Reserve uses the Personal Consumption Expenditures report to gauge inflation. At Thursday's closing bell, the Dow Jones Industrial Average gained 36 points to 39-164. The S&P 500 rose by four points to 54-82. The Nasdaq gained 53 points to 17-858.
>>Walgreens To Close A "Significant" Number Of Stores
(Deerfield, IL) -- Walgreens will be closing what it calls a "significant" number of stores across the U.S. The drug store chain made the announcement Thursday, and said it plans to close underperforming stores as part of a multi-year strategy. Walgreens didn't specify how many of its stores will be closing, but CEO Tim Wentworth told The Wall Street Journal that it will be a "meaningful percent."
>>NFL Ordered To Pay Almost $5 Billion In Sunday Ticket Case
(Los Angeles, CA) -- The NFL is being ordered to pay almost five-billion dollars in damages after being ruled to have violated antitrust laws. A jury in U.S. District Court found that the league conspired with DirecTV and other network partners to increase the price of the NFL Sunday Ticket package from the 2011 through 2022 seasons. The NFL plans to appeal the verdict.
>>Good News For Those Looking To Buy A New Car
(New York, NY) -- U.S. auto sales are expected to slow during the second half of the year. According to Cox Automotive, vehicle inventory levels are growing, and incentives are increasing. Experts believe the second half of the year is going to be a tough one for auto makers due to growing uncertainty around the economy, interest rates, and the U.S. presidential election. They believe sales growth will slow to 15.7 million units sold in the next six months. This is generally a good thing for consumers, many of whom have been waiting years to purchase a new vehicle, due to unprecedented supplies issues and record prices during the coronavirus pandemic.
>>Home Builder Market Trending Smaller
(New York, NY) -- The typical new home built in the U.S. today is markedly smaller than those built a decade ago. According to The National Association of Home Builders, the typical buyer today wants a home that is just over two-thousand square feet. New homes have been shrinking since 2015 when the average home size peaked at 26-hundred square-feet. Whether as a reaction to high prices or because they simply want a smaller space, experts say homebuyers today are asking for smaller homes. Changing demographics also play a roll, nearly 30-percent of recent homebuyers in the U.S. are single, according to The National Association of Realtors.
>>Supreme Court Rules SEC Must Go Through Courts To Pursue Violations
(Washington, DC) -- A Supreme Court ruling is limiting the Securities and Exchange Commission's power to enforce violations. The SEC has had the power to enforce alleged violations with in-house tribunals without juries. The High Court's decision came from a case where a hedge fund manager appealed an SEC tribunal penalty against him for 300-thousand-dollars. The justices ruled 6-3 that the some of these tribunals violate the right to trial by jury. The dissenting liberal justices say this will curb the authority of federal agencies.
