Gas prices fuel surge: U.S. retail sales increased more than expected in March as the war with Iran boosted gasoline prices and led to a record surge in receipts at service stations, while tax refunds underpinned spending elsewhere. Though higher prices partly accounted for the largest gain in sales in a year, the report from the Commerce Department on Tuesday supported economists’ expectations that economic growth picked up in the first quarter after nearly stalling in the final three months of 2025. Read more from Reuters.
Affordability bites back: D.R. Horton posted a drop in second-quarter profit as high mortgage rates and economic uncertainty continued to weigh on homebuyer demand, prompting the nation’s largest homebuilder to lean on incentives to close deals. Executives say affordability challenges and cautious consumer sentiment remain key headwinds, with incentives expected to stay elevated through 2026 as the housing market struggles to regain momentum. Read more from The Wall Street Journal.
Product-driven leadership: Apple is handing the reins to longtime executive John Ternus, a product-focused leader who will succeed Tim Cook as CEO. A 25-year veteran, Ternus has led hardware engineering and played a key role in major innovations, from AirPods to Apple Silicon Macs. His appointment signals a shift back toward product-driven leadership as Apple navigates its next phase of growth and emerging technologies. Read more from The Verge.
