Biden's approval slips in AP NORC poll amid economy concerns
The AP NORC poll shows 36 percent of U.S. adults approve of Biden's handling of the economy and 42 percent approve of his overall performance. Inflation has cooled to 3.2 percent, unemployment 3.5 percent, as Biden markets his policy package and contends with Republican indictments against Trump.
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U.S. 30-Year Mortgage Rate Surges to 7.09 Percent
The average long term rate rose to 7.09 percent the highest in over 21 years. Freddie Mac reports weekly increases driven by a resilient economy and rising 10 year treasury yields. High rates curb affordability amid limited housing supply and sales slow 23 percent in the first half.
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Associated Press
Wall Street slides for third straight day as yields climb
A broad market drop followed rising bond yields with the S&P 500 down 0.8 percent to 4370.36 and the Dow off 290.91 to 34474.83 while the Nasdaq fell 1.2 percent. Tech giants like Meta, Tesla, and Apple contributed to losses as investors reassess valuations amid inflation data and Fed outlook.
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