Stock Market Winners & Losers: S&P 500 Tries to Snap a 3-Day Losing Streak | This Olympic Torch is on Fire | The Hidden Costs of Homeownership are Skyrocketing
Winner: S&P 500 tries to snap a 3-day losing streak
The S&P 500 rose, potentially ending a losing streak amid the start of the earnings season. United Airlines surged over 8% following better-than-expected earnings. The earnings season is promising, with over 75% of companies exceeding expectations. Federal Reserve Chair Jerome Powell emphasized the need for further progress on inflation before considering rate cuts.
Loser: The Hidden Costs of Homeownership Are Skyrocketing
Homeownership affordability hit its lowest point since the 1980s last year due to high mortgage rates and record-breaking home prices. Additional costs like insurance premiums, property taxes, utilities, and maintenance expenses continue to rise, comprising over half of overall expenses. Home insurance premiums surged over 10% on average in 2023 due to increased payouts for natural disasters, with projections of another 6% increase in 2024, reaching an average annual cost of $2,377.
Winner: This Olympic torch is on fire
NBC's billion-dollar Olympics ad extravaganza is 100 days away, with Paris 2024 already making headlines. Kelly Clarkson, Peyton Manning, and Mike Tirico will co-host, while Snoop Dogg joins prime-time coverage. Basketball star Caitlin Clark may join Team USA. Major brands like Nike, LVMH, and Fanatics could earn over $100 million in sales. Nike faced backlash over a bikini-cut leotard design. Nike designs apparel for various national teams, including Korea's breakdancing event. Paris's cybersecurity expects 3.6 billion hacking attempts during the Games.
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