Economy
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US retail sales drop unexpectedly as Americans curb spending following summer splurges
Retail sales fell 0.6% last month, which is the largest decrease since May 2025, compared with a revised gain of 0.2% in June, according to data the Commerce Department released on Friday.
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Home sellers are drawing from a dwindling pool of buyers, new data shows
Nearly 80% of major cities in the U.S. are now buyer's markets, defined as a market where the number of sellers is more than 10% higher than the number of buyers.
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Projected 2027 Social Security cost of living adjustment down slightly after inflation report
The Senior Citizens League cut its estimated 2027 Cost of Living Adjustment for Social Security to 3.6%. If that projection turns out accurate, the 2027 COLA will be the highest in four years.
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Foreclosures spike nationwide, driven by higher mortgage rates, property taxes, insurance
The ZIP code with the highest total number of foreclosures was 77327, located in rural Liberty County northeast of Houston, which had 8,189 in the six-year period.
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JPMorgan CEO Dimon says investors underestimating geopolitical risk, which may impact markets
He pointed to wars in Ukraine and the Middle East, tensions between the U.S. and China, as well as rising military spending coupled with government deficits.
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U.S. adds 3.5M businesses despite uncertain economy
Registered Agents Inc., a business formation service provider, released its June 2026 business report. It found that the U.S. added 3,493,381 businesses in the first six months of 2026, despite economic pressures and uncertainty in global markets.
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Labor Department reports annual inflation in June was 3.5%, biggest monthly drop in over six years
The decline is the biggest in over six years, which the department's Bureau of Labor Statistics report contributes largely to lower energy prices.
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Zillow analyst names culprit of flat home sales, high housing prices
Zillow’s June Market Report shows that U.S. home sales grew by 5.9% since last year, with a total of 381,125 homes sold in June. The number is a 9.2% increase since May.
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Jersey Mike's unseats Chick-fil-A as America's highest-rated fast food chain: report
This was the first year the American Customer Satisfaction Index included the New Jersey-based sandwich chain, which filed for an initial public offering in July, and it edged out Chick-fil-A by a single point.
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Trump announces Walmart to lower prices for thousands of products at his administration's request
Walmart said it will be lowering prices through its signature Rollbacks and Sam's Club programs, and customers can expect savings on groceries, household and everyday essentials, outdoor living, toys and apparel.
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Average cost of July 4 cookout for 10 is $7.38 a person, increase consistent with annual inflation
The cost is based on what the farm lobby group that compiled the report considers a traditional cookout meal of burgers, sides, lemonade and dessert.
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US unemployment rate for June drops slightly to 4.2%, economy added 57K jobs
Economists predicted the June unemployment rate would be 4.3% and that the economy would add 115K jobs,
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Fed Chair Warsh says inflation risk lower than it was a few weeks ago
Central bankers around the world have been looking at how to address inflation stemming from higher energy costs in the wake of the war in Iran, as well as the upward pressure on prices from the boom in artificial intelligence.