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Financial headlines:
- The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) in the United States jumped by 22bps to 6.91% in the week ended May 26th
- The number of job vacancies in the United States unexpectedly increased by 358 thousand to reach 10.1 million in April 2023, surpassing market expectations of 9.375 million
- American Airlines raises second-quarter profit outlook on lower fuel costs
- Australia’s House Prices Rise Sharply in May, Driven by Sydney
- Bank stocks drop as FDIC flags challenges and strengths in quarterly report
- Intel shares jump as chipmaker sees second-quarter revenue at upper end of outlook
- Toyota to make large electric SUV in Kentucky
- Apple’s App Store generated $1.1 trillion in sales in 2022
- Target’s stock falls toward longest losing streak in 23 years
- Amazon to pay over $30 million in FTC settlements over Ring, Alexa privacy violations
- Adidas Starts Unloading Its Yeezy Gear, to Benefit Anti-Hate Groups
- Debt ceiling bill poised to pass the House as Senate aims for a Friday vote
- Stocks slip as investors look to House vote on debt ceiling, Nasdaq pops nearly 6% in May
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