Economic Indicators

Housing markets in tech hubs have cooled rapidly as turmoil hits the sector and mortgage rates remain elevated, according to a new report from Redfin.

Michigan has become the first state in decades to repeal a "right-to-work" law. Gov. Gretchen Whitmer, a Democrat, signed the legislation on Friday to praise from President Biden.

Demand for home buying has been "steady" as mortgage rates continue to slip. Mortgage rates fell for the second week to 6.42%, according to Freddie Mac, after the Federal Reserve said it would modestly hike rates.

Gas prices decreased this week to $3.49 per gallon, AAA reported. And prices could hold steady as the price of oil remains low, despite a rise in demand for gas.

Texas-based Indeed is laying off 2,200 employees due to a decrease in job openings following a recent post-COVID boom. CEO Chris Hyams apologized in a Wednesday letter.

Accenture announced that it plans to lay off 19,000 employees as it works to streamline operations amid the uncertain economic environment. However, it's still hiring.

The Fed is trying to balance its fight against inflation with a new crisis in the financial sector triggered by the collapse of Silicon Valley Bank earlier this month.

High energy prices are likely here to stay as supply and demand continues to tighten, according to energy expert and FOX Business contributor Phil Flynn.

Shopify became a White Knight for some of its merchants who used Silicon Valley Bank by making what was a rare move in the cutthroat world of big business this week.

Silicon Valley Bank did not employ a chief risk officer from April 2022 to January 2023, leading up to its collapse last Friday; but it did employ a chief DEI officer in that time.

Treasury Secretary Janet Yellen said that Chinese Communist Party-linked (CCP) depositors of Silicon Valley Bank could be "made whole" by the U.S. banking system.

In total, investors and depositors initiated withdrawals equating to about $42 billion in deposits from the bank on Thursday alone, causing a run on the bank, according to a regulatory filing.

Federal regulators approved Canadian Pacific’s $31 billion acquisition of Kansas City Southern late Wednesday morning following a years-long review process.

The median U.S. asking rent rose to a mere 1.7% annually in February, which was the smallest gain in nearly two years, according to Redfin.

Saudi Arabian Oil Co., also known as Aramco, announced it earned a record-high profit of $161.1 billion during 2022 following higher crude oil prices that soared mostly during Q3.

The February jobs report showed that payrolls increased by 311,000 workers last month, faster than expected, as bars and restaurants hired more workers.

Gas prices increased for the week ending March 9, 2023. But global oil costs, low demand and other factors may lead to a drop in gas prices.

The February payroll report released Friday provided a key snapshot of the labor market's health amid the Fed's aggressive interest rate-hike campaign.

Applications for U.S. unemployment benefits last week climbed to the highest level since late December, pointing to some softness in the labor market.

The Labor Department reported on Wednesday that there were 11 million job openings at the end of January, a sign the labor market remains extremely tight.