Stock Market Winners & Losers: S&P 500 Rises to Record | The US Housing Slump Deepened this Spring | How Much Does a Pool Cost? Too Much
The S&P 500 reached a new record as investors assessed Federal Reserve Chair Jerome Powell's warning about prolonged high interest rates. Gains were driven by a few tech companies, with Nvidia shares up 4%.
The housing market is in a slump despite a 5.8% rise in median home prices to $419,300. High mortgage rates and prices have deterred buyers, though home availability has increased since August 2022 but remains below pre-pandemic levels.
Demand for private swimming pools has dropped, with only 70,000 new in-ground pools installed in 2023, down from the previous year. Rising costs, with average pool prices up 72% since 2019 to $74,000, have dampened interest, reflected in record-low Google searches for "swimming pool cost."
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