Consumers Keep Spending as Prices and Economic Pressures Rise
Retail stocks climbed as shoppers kept buying despite inflation concerns. Grocery and gas prices are expected to rise further as GDP growth slows and Canada seeks stronger U.S. ties.
Buyers Bolster Retailer Shares
Shaking off concerns over rising prices and rising inflation, consumers showed enough interest in various retailers to help boost their stock value,
Shares of retailers including the likes of Kohl’s, Best Buy Co. and Dollar Tree Inc. rose on Thursday amid optimism that shoppers are still spending when they see what they want at the right price. Read Full Article
Canada’s Carney Calls For a ‘New Partnership’ With U.S.
While President Donald Trump’s trade war and insistence that Canada become the 51st U.S. state have strained relations between the two countries, Canadian Prime Minister Mark Carney is calling for a “new partnership” between them.
In a speech he made Thursday in New York, saying such a deal would “help make America great again.” Read Full Article
Forecast Predicts Continued Rise in Grocery Prices
While Americans are paying more at the gas pump, their food may also be taking a bigger slice of their budgetary pie.
According to a report from Bloomberg, factors including bad weather, tariffs and a dwindling cattle herd are already pushing up grocery prices at an above-average pace. In April, for instance, they rose by the most in nearly four years, the outlet reported. Economists say the impact of the Iran war and a potential El Niño weather pattern will only add to pressures into 2027. Read Full Article
Commerce Department Revises First-Quarter GDP Growth Downward
The economy didn’t fare as well as first thought in the first three months of 2026.
According to a report from Reuters, U.S. economic growth was not a strong as initially thought in the first quarter and – with the war with Iran raising inflation — momentum is set to slow this quarter. Read Full Article
American Airlines to Install Starlink
FORT WORTH, Texas — American Airlines announced a sweeping modernization of its narrowbody inflight customer experience with the installation of Starlink on more than 500 narrowbody aircraft beginning in 2027.
Airline officials said in a release that Starlink is “widely regarded as the world’s most advanced satellite constellation” using a low Earth orbit to deliver broadband internet capable of supporting inflight streaming, online gaming, collaborative meeting tools and more. With thousands of satellites in low Earth orbit, Starlink can deliver multigigabit connectivity to aircraft using its Aero Terminal, which can support up to 1 Gbps per antenna. Read Full Article