The national average for a gallon of gasoline is now $3.46, a full dime over its price a week ago, according to AAA. The association said the jump could be "short-lived," given that global oil costs have declined recently, and overall demand is falling as well. “Less expensive oil and fewer people fueling usually combine to lower pump prices,” said Andrew Gross, AAA spokesperson, “However, there is some upward pricing pressure at the moment due to the switch to summer blend gasoline, which may add about five to ten cents per gallon. But if demand and oil costs remain low, this recent price bounce may fade.”The Energy Information Administration (EIA) said gas demand declined from 9.11 million to 8.56 million b/d last week.
MORTGAGE RATES CONTINUE RISE
Mortgage rates rose for the fifth consecutive week, inching closer to an eye-watering 7 percent, according to the latest data from Freddie Mac. The average 30-year fixed-rate mortgage rate is now 6.73 percent, up from 6.65 percent the week before. The rate in 2022 hit a high of 7.08 percent, but then began to decline as expectations the Federal Reserve would moderate increased. More recent comments from the Fed suggest more rate hikes are coming. “Mortgage rates continue their upward trajectory as the Federal Reserve signals a more aggressive stance on monetary policy,” said Sam Khater, Freddie Mac’s chief economist.
PILOT PAY
The Allied Pilots Association is planning to vote in April on whether to give the green light to a strike by its members. The group is in the middle of tense negotiations over a new labor contract, and come days after American Airlines CEO Robert Isom said the company was prepared to match compensation with rival Delta Air Lines. Delta pilots, notably, are getting 34 percent raises in a new four-year deal, after approving a strike authorization in the fall.
The social video platform's future remains in doubt, as players scramble to profit from the chaos. Plus: Big oil gets bigger, DOGE downsizes, and tariffs!
Ty Young, CEO of Ty J. Young Wealth Management, joins Cheddar to discuss Trump's moves as he returns to Washington D.C. and how it may affect the U.S. economy.
Starbucks’ decision to restrict its restrooms to paying customers has flushed out a wider problem: a patchwork of restroom use policies that varies by state and city. Starbucks announced last week a new code of conduct that says people need to make a purchase if they want to hang out or use the restroom. The coffee chain's policy change for bathroom privileges has left Americans confused and divided over who gets to go and when. The American Restroom Association, a public toilet advocacy group, was among the critics. Rules about restroom access in restaurants vary by state, city and county. The National Retail Federation says private businesses have a right to limit restroom use.
President Donald Trump is talking up a joint venture investing up to $500 billion for infrastructure tied to artificial intelligence by a new partnership formed by OpenAI, Oracle and SoftBank. The new entity, Stargate, will start building out data centers and the electricity generation needed for the further development of the fast-evolving AI in Texas, according to the White House. The initial investment is expected to be $100 billion and could reach five times that sum. While Trump has seized on similar announcements to show that his presidency is boosting the economy, there were already expectations of a massive buildout of data centers and electricity plants needed for the development of AI.
Chris Ruder, Spikeball Founder and CEO, explains how he and his friends put roundnet on the global map, plus, how Spikeball helps people "find their circle."
J.W. Roth, CEO of Venu Holding Corporation, discusses the company's IPO and plans to redefine live music entertainment with their fan founded, fan-owned model.
Variety's Clayton Davis discusses why more than just the 1% are struggling after the LA fires. Plus, how awards shows will pivot to help victims. Watch!
