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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
May 17, 2022
Page
8
The National Association of Home Builders Wells Fargo Housing Market Index, a key measure of U S homebuilders confidence, fell to 77 last month amid rising mortgage rates high inflation and steep construction costs. Economists expect another drop this month as sentiment remains positive above 50 but weaker.
Wall Street anticipates Walmart reports flat to lower earnings year over year with modest revenue gains amid higher costs and supply chain delays. Traders eye sales trends and full year outlook as the Commerce Department notes April retail gains at about 0.9 after March 0.8, covering only a fraction of consumer spending.
Neil Saunders of GlobalData notes the exit signals Russia shifting inward for investment and consumer brand growth after three decades since the first American fast food chain opened in the Soviet Union.
The S&P 500 ended Monday down 0.4 percent after an afternoon rally faded, marking six straight weeks of declines. Nasdaq fell 7 percent while tech shares dragged broadly. Retailers posted steep losses as Spirit Airlines rose on JetBlue’s hostile bid for JetBlue. ManTech jumped on Carlyle Group’s plan to acquire the defense contractor.
In Wyandotte County a court ordered a new congressional map after 20 Democrats and Loud Light sued, finding the lines excessively partisan and diluting minority voters. Judge Klapper noted the process harms equal representation and pressed lawmakers to redraw.
About 5,000 graduates participated as KU conferred degrees in a commencement honoring resilience through pandemic years. Andrew Kammerer praised faculty support while Lauren Mangiameli noted pandemic borne challenges in law school, and Jorge Peralta cited peers’ professionalism shaping his KU years.
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