Economic Indicators

Average gas prices dipped to $3.53 per gallon for the week ending May 11, 2023, AAA reported. The low cost of oil has kept gas prices on the decline despite a rise in gas demand, AAA said.

Mortgage rates declined again this week, marking the lowest level in five weeks, according to data from Freddie Mac. The rate on the 30-year fixed mortgage fell to 6.35%.

Applications for unemployment benefits last week climbed to the highest level since October 2021, the latest evidence the labor market is slowing down.

The Labor Department said Thursday the producer price index climbed just 0.2% in April, a sign that price pressures in the economy are beginning to abate.

Airbnb reported a strong quarter with revenue up double digits and free cash flow reaching its highest mark in history as people continue to prioritize travel.

Microsoft announced that full-time salaried employees won't be getting raises in 2023 as the company its shifts focus to artificial intelligence amid the uncertain economy.

Airfare to Europe and Asia this summer already reached its highest level in over five years due to continued demand, higher jet fuel prices and lower capacity.

Inflation likely remained stubbornly high in April as price pressures continue to squeeze household budgets despite Federal Reserve interest rate hikes.

Gas prices decreased last week, but rising interest rates have raised concerns of a recession, according to AAA.

The April jobs report released Friday provided a key look at the labor market's health amid the Federal Reserve's aggressive interest rate-hike campaign.

Nearly half of Americans are very or moderately worried about the safety of their funds in a bank or other financial institution amid an onslaught of bank failures in recent months.

Mortgage rates eased on optimism that the Fed is finished with its rate hiking campaign, just as the spring/summer home buying season goes into full swing.

The head of one of America's biggest oil producers argues the Biden administration's restrictions on the industry has been the "dumbest thing" done "for political reasons."

Shares of First Horizon are down on Thursday after the company said a merger agreement with TD Bank was terminated due to uncertainty over regulatory approvals.

The declining number of newly listed homes is one of the biggest hurdles facing potential buyers this spring. Active inventory is still well below pre-pandemic levels.

Uber, which had a strong start to the 2023 fiscal year, is expanding its ride share program to five more cities as it tries to pull in more users to its platform.

Morgan Stanley is looking to trim its workforce by 3,000 workers amid an uncertain economic environment that's caused a slowdown in deal making across Wall Street.

The Treasury Department said Monday that the deposits of former customers at collapsed First Republic Bank are safe because the banking system remains sound and resilient.

The Chinese National Bureau of Statistics' senior statistician Zhao Qinghe has suggested that the decline was allegedly caused by inadequate market demand.

First Republic's future, the Federal Reserve's decision on interest rates and Apple earnings are just a few of the big market moving events ahead for investors in the coming week.