Sales of Bud Light fell for a sixth straight week following uproar over the brand’s partnership with trans influencer Dylan Mulvaney.
Personal Finance Daily: $60 million marijuana startup co-owned by rapper was a Ponzi scheme, feds say and the 30-year mortgage rate is back above 7%
Tuesday’s top personal finance stories.
MarketWatch First Take: Activist investor says ‘Yelp is not the company people think it is,’ while pushing for a sale that is unlikely to happen
Yelp Inc. is under pressure again from an activist investor to sell the company — which is not a new story and may face the same roadblock as previous efforts.
Earnings Results: Toll Brothers says homebuyer appetites are improving, and shortage of houses will keep benefiting industry
Shares of Toll Brothers rose after hours on Tuesday after the homebuilder said homebuying appetites had improved into the current quarter.
Market Extra: BlackRock’s Rick Rieder sees ‘epic’ cash on sidelines as he takes lead role on new ETF
There’s an ‘epic’ amount of cash on the sidelines as investors assess a slowing U.S. economy and the debt-ceiling debate in Washington, according to Rick Rieder, chief investment officer of global fixed income at BlackRock.
: The 30-year mortgage rate just hit 7%. Here’s how much it will cost homeowners.
The 30-year fixed-rate mortgage rose back above 7%, according to Mortgage News Daily. Higher rates add hundreds of dollars in monthly costs.
: Social media poses ‘profound risk’ to kids’ mental health, surgeon general warns
The Biden White House signaled a belief that America’s youth are suffering through a mental-health crisis, calling the situation “unprecedented.”
Market Extra: The debt-ceiling deal may spark a new worry: Who will buy the deluge of Treasury bills?
An estimated $1.4 trillion of new Treasury bill supply is expected to hit the market now the U.S. government’s debt-ceiling fight is resolved.
Earnings Results: North Face makes up for weak demand for Vans in VF Corp.’s results, and shares rally
Shares of VF Corp. rallied after hours on Tuesday after the sneaker and clothing maker reported fourth-quarter results that were better than expected.
Economic Report: Surge in U.S. jobless claims could be wiped away after fraud is uncovered
A seemingly steady rise in U.S. layoffs since March could be wiped away after Massachusetts lowers its estimate of jobless claims to reflect a recent rash of fraud.
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