Stock Market Winners & Losers: S&P 500 Rises for a 7th Straight Day | Americans are Going Into Debt for Summer Fun | Tesla’s Share of Electric Car Market Below 50%
The S&P 500 rose slightly ahead of a major U.S. inflation report, marking its 36th record close. Federal Reserve Chair Jerome Powell warned that prolonged high rates could harm economic growth. Disney is adding a ninth ship to its cruise fleet in Tokyo, expected to generate $621.77 million annually.
Many Americans, especially young people, are willing to take on debt this summer, with Gen Z and millennials expecting over $4,000 in new debt. Nearly half are still paying off last summer's credit-card debt, with an average interest rate of 21.51%.
Tesla's U.S. electric vehicle market share fell below 50% as competitors gained ground. Sales of electric vehicles surged, making up 8% of the market, up from 7.2% a year earlier.
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