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Barely budging: Sales of previously owned U.S. homes barely rose in April from a nine-month low, underscoring a sluggish housing market at the start of the spring selling season. Contract closings edged up 0.2% to a 4.02 million annualized rate, according to National Association of Realtors data out Monday. That was slightly slower than the median estimate in a Bloomberg survey of economists. Read more from Bloomberg. A subscription may be required.
Traffic down: Surging gas prices are forcing consumers to rethink discretionary spending, and restaurant chains are feeling the squeeze. Industry traffic fell 2.3% in March as budget-conscious diners pulled back on takeout and casual dining. But stronger operators are using the pressure to grab market share, leaning into aggressive value deals while weaker chains struggle to keep pace. Read more from CNBC.
Lowering barriers: The Trump administration is moving to ease record-high beef prices by temporarily lowering barriers to imported beef, allowing more overseas supply into the U.S. The move aims to offer consumers relief as ground beef prices remain sharply elevated, but it could spark backlash from domestic cattle producers already wary of cheaper foreign competition. Longer-term relief, however, may be harder to come by. Read more from The Wall Street Journal.
