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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
Feb 25, 2022
Page
8
Economists expect U.S. consumer spending to rebound with a 1 percent gain in January after December’s 0.6 percent drop. Inflation remains a drag as higher food, fuel and goods costs squeeze households. The Commerce Department releases the latest spending snapshot today.
Foot Locker releases its fiscal fourth quarter results with Wall Street projecting lower earnings and higher revenue for the November to January period. The retailer has seen three straight quarters of growth but faces pressure from discount-pricing adjustments affecting margins.
Economists predict the National Association of Realtors pending home sales index will show a 2.9 percent increase in January from December. The gain would follow declines of 3.8 percent and 2.3 percent in the prior two months, reflecting a barometer of future home purchases with a lag before closings.
Markets reversed from heavy losses to gains as Russia invaded Ukraine prompting global condemnation and sanctions. Stocks opened lower but oil and wheat prices climbed, lifting shares of commodity-linked firms including a gold and copper miner and Norwegian Cruise Line.
The planning commission wrestles with draft solar rules amid concerns that 500 foot setbacks may hurt rural residents and farmers. Board chair Luke Sinclair notes hours of public comment and committee work, as county officials consider sending the text amendment to the County Commission with a recommendation. NextEra Energy pursues a 3,000 acre solar farm near Baldwin City, though no formal plans exist yet. A March 2 work session on the amendment is tentatively planned pending agenda.
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