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Fintech Giant Jumps 4.65% to $90.76 on Cash App Bitcoin Strength

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Australia Housing Market 2026: Two-Speed Boom Persists as Prices Hit

Block Inc. shares climbed 4.65% to close at $90.76 on Tuesday, gaining $4.03 on elevated trading volume as investors cheered preliminary signs of strength in the company’s Cash App Bitcoin ecosystem and ongoing execution of its aggressive artificial intelligence-driven restructuring.

ASX 200 Top Gainers: Telix Pharma Jumps 3.23% on FDA
Block Inc Stock Surges 2026: Fintech Giant Jumps 4.65% to $90.76 on Cash App Bitcoin Strength

The rally pushed the market capitalization of the payments and financial technology company, formerly known as Square, toward the $38 billion to $39 billion range. It reflects renewed optimism around Block’s dual-engine growth from merchant services via Square and consumer fintech through Cash App, even as the broader market digests mixed signals on interest rates and economic growth.

Block, founded by Twitter co-founder Jack Dorsey and headquartered in Oakland, California, operates two core segments. Square provides point-of-sale hardware, software and financial services to small and medium-sized businesses, while Cash App functions as a peer-to-peer payments platform with banking-like features, including stock and Bitcoin trading, lending and debit cards. The company has increasingly leaned into Bitcoin as a strategic asset and is embedding AI tools such as conversational “Moneybot” for consumers and “Managerbot” for sellers to automate operations.

Preliminary data released April 8 for the first quarter of 2026 highlighted robust activity in Cash App’s Bitcoin ecosystem. The company expects Bitcoin-related revenue, driven primarily by buy volume on Cash App, to reach approximately $1.7 billion for the quarter. However, a remeasurement loss on its Bitcoin holdings tied to the March 31 closing price is projected to impact GAAP earnings by about $172.8 million, a non-cash item recognized below operating income. Full first-quarter results are scheduled for release after market close on May 7, followed by a conference call.

The Bitcoin exposure has been a double-edged sword for Block. While it adds volatility through mark-to-market accounting, rising crypto interest and Cash App’s seamless integration have helped drive user engagement and transaction volumes. Cash App monthly active users returned to growth in late 2025, ending the fourth quarter at 59 million, with primary banking actives — those using more advanced features — expanding 22% year-over-year and generating significantly higher gross profit per user.

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Block’s fourth-quarter 2025 results, reported in late February, provided a strong foundation for the current momentum. Revenue reached $6.25 billion, while gross profit grew solidly. Cash App gross profit surged 33% to $1.83 billion, fueled by 69% growth in consumer lending originations to $18.5 billion and healthy expansion in other services. Square gross payment volume also showed reacceleration.

In a headline-grabbing move accompanying the results, Block announced a major workforce reduction of more than 40%, trimming staff from over 10,000 to under 6,000 employees. CEO Jack Dorsey framed the cuts as a deliberate shift to an “AI-first” operating model, expecting $450 million to $500 million in restructuring charges, mostly in the first quarter. The company anticipates the changes will deliver meaningful cost savings starting in the second quarter, accelerating margin expansion.

Investors responded enthusiastically to the combination of leaner operations and raised guidance. Block lifted its full-year 2026 outlook, targeting gross profit of $12.2 billion — representing 18% year-over-year growth — and adjusted operating income of $3.2 billion, or a 26% margin, reflecting 54% growth and approximately six points of margin expansion. Adjusted diluted earnings per share are now guided to $3.66. For the first quarter alone, gross profit is expected to rise 22% to $2.8 billion, with adjusted operating income of $600 million.

The restructuring and AI pivot have sparked broader industry discussion about technology-driven efficiency gains versus job displacement. Block is developing agentic AI capabilities to handle routine financial and business tasks, potentially allowing remaining teams to focus on innovation and customer experience. Analysts have noted that while short-term charges will weigh on GAAP results, the long-term benefits to profitability could be substantial if execution is smooth.

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Beyond core payments, Block continues to expand its ecosystem. Afterpay, its buy-now-pay-later service, contributes to consumer lending growth. The company surpassed $200 billion in cumulative credit provided to customers, underscoring its role in addressing lending gaps for individuals and small businesses. Recent product moves include enhancements to Square for restaurants and integration of inventory tools, as well as Cash App features enabling installment plans for peer-to-peer transfers.

The stock has traded in a wide range over the past year, with a 52-week low near $44 and highs approaching $82.50 earlier in the period. Tuesday’s gain builds on intermittent rallies tied to guidance reaffirmations and positive rotation into growth-oriented fintech names. Consensus analyst price targets sit around $82 to $86, with some firms maintaining Buy ratings citing Block’s data advantages, ecosystem stickiness and potential for AI to deepen customer relationships.

Challenges remain. Bitcoin price fluctuations can create earnings volatility unrelated to underlying operations. Integration of AI tools and management of a significantly smaller workforce carry execution risks. Macroeconomic factors, including consumer spending patterns and small business resilience amid higher interest rates, could influence gross payment volumes. Regulatory scrutiny of fintech, crypto and lending practices also represents an ongoing consideration.

Still, many observers view Block as well-positioned in a shifting financial landscape. Dorsey’s vision emphasizes building an open, accessible financial system, with Bitcoin and decentralized technologies playing central roles alongside traditional payments. The company’s liquidity position remains strong, supported by prior share repurchases and cash reserves.

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As Block prepares for its May 7 earnings release, attention will center on actual first-quarter metrics, updates on Bitcoin performance, progress on workforce changes and any color on AI initiatives. Preliminary Bitcoin revenue figures have already signaled resilience in consumer engagement, while the aggressive cost restructuring suggests confidence in delivering on higher profitability targets.

For investors, the recent price action underscores Block’s sensitivity to both operational execution and narrative shifts around efficiency and innovation. With gross profit guidance pointing to sustained double-digit growth and margins expanding into the mid-20s, the company is attempting to prove it can deliver scalable profitability in a competitive fintech arena increasingly shaped by artificial intelligence.

Whether Tuesday’s surge marks the beginning of a broader re-rating will depend on confirmation of guidance in the upcoming report and tangible evidence that AI investments are translating into faster growth or wider margins. For now, Block continues to navigate its transformation, blending legacy payments strength with forward-looking bets on crypto, lending and intelligent automation in pursuit of long-term leadership in digital finance.

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Nancy’s Friends Urged to Stay Silent as Abduction Probe Enters Fourth Month

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Hartsfield-Jackson Atlanta Airport

TUCSON, Ariz. — As the search for 84-year-old Nancy Guthrie stretches into its fourth month, friends from her tight-knit church community have largely remained quiet at the request of the Guthrie family, according to multiple reports, even as investigators continue pursuing leads in what authorities describe as her abduction from her Catalina Foothills home.

Nancy Guthrie, mother of “Today” co-anchor Savannah Guthrie, was last seen on the evening of Jan. 31, 2026, after being dropped off at her residence following a family dinner. She failed to appear the next morning for a planned virtual church service, prompting concern from friends who alerted the family. By noon on Feb. 1, relatives reported her missing to the Pima County Sheriff’s Department.

Evidence at the home — including bloodstains confirmed to be hers, a tampered doorbell camera and signs of forced entry — quickly shifted the case from a missing person search to a criminal abduction investigation. The FBI joined the probe, and Sheriff Chris Nanos publicly stated he believed she was taken against her will.

Family Request for Privacy

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NewsNation correspondent Brian Entin, who has covered the case extensively, revealed that the Guthrie family has asked Nancy’s close friends to keep details private during the ongoing investigation. “We’ve heard from several that the Guthrie family has asked Nancy’s close friends to keep things private right now,” Entin told Parade magazine. “You haven’t seen a lot of her close friends come forward and talk about her, which is different than other cases.”

Church friends were among the first to notice her absence and raise the alarm. Yet in the months since, few have spoken publicly, a departure from patterns in similar high-profile cases where community members often share memories or appeals. Entin suggested fear plays a role, noting the unidentified suspect(s) and the rarity of such violence in the upscale Tucson suburb.

“I also think people here are still nervous about the whole thing,” he added. “These kinds of things don’t happen [here], and the fact that there’s no new information and they have no idea who did it … people are just still nervous.”

Chilling Timeline and Evidence

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According to authorities, Nancy Guthrie took an Uber to her daughter Annie’s home around 5:32 p.m. on Jan. 31 for dinner and games. Her son-in-law Tommaso Cioni dropped her off shortly before 10 p.m. Her garage door closed at 9:50 p.m.

In the early morning hours of Feb. 1, a masked, gloved individual tampered with her doorbell camera around 1:47 a.m., with motion detected shortly after. Her bedside pacemaker monitor missed a transmission at 2:28 a.m. When she didn’t appear for church, family members checked her home and called 911.

The FBI later released footage showing the armed intruder. Blood was found near the front porch and inside, confirmed via DNA to belong to Nancy. Personal items, including her phone and medications, remained at the residence, inconsistent with a voluntary departure given her limited mobility.

Ransom Demands and Hoaxes

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Multiple ransom notes surfaced in the days following, some sent to media outlets demanding cryptocurrency payments. One California man was arrested for an unrelated hoax demanding ransom from the family. The Guthrie family offered a $1 million reward for information leading to her safe return and released public appeals seeking proof of life.

As of early May 2026, no arrests have been made in the abduction itself. DNA analysis from the home, including hair samples, continues at FBI labs. Recent neighborhood footage of a masked man stealing plants has heightened local anxiety but has not been officially linked to the case.

Community Impact and Silence

The quiet from Nancy’s church circle stands in contrast to her described life as an active, faith-centered widow who moved to Tucson decades ago. Friends and neighbors have described her as vibrant despite mobility challenges, regularly attending services and maintaining close ties.

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Entin noted attempts to interview church friends for an upcoming NewsNation special yielded little response. The reluctance reflects both family wishes and broader unease in a neighborhood unaccustomed to violent crime. Increased patrols and resident vigilance underscore the lingering fear.

Savannah Guthrie stepped away from “Today” duties initially to focus on the search and family but has since returned, with producers implementing protocols for handling developments. The family has expressed gratitude for public support while urging tips.

Investigation Status

Pima County Sheriff’s Department statements emphasize the case remains “active and ongoing,” with continued collaboration from the FBI, advanced forensics and tip reviews. No public updates on significant breakthroughs have emerged recently as the probe nears 100 days.

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Experts and retired agents have weighed in on possibilities ranging from a targeted abduction to opportunistic crime, but little concrete information has been released. The family has pushed back against unfounded speculation implicating relatives.

Nancy Guthrie’s disappearance has captivated national attention, blending the personal stakes for a prominent journalist’s family with the procedural challenges of a complex cold-case-in-the-making. As weeks turn to months, the silence from those who knew her best reflects both strategic privacy and the unsettling reality that an unknown threat may still linger in the Tucson foothills.

Authorities and the family continue to appeal for information. Anyone with tips is urged to contact the Pima County Sheriff’s Department or the FBI. For now, Nancy’s friends honor the request to remain quiet, hoping their restraint aids the investigation that could bring her home.

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Kellie Pickler Returns to American Idol Stage 3 Years After Husband Kyle Jacobs’ Death

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Kellie Pickler

LOS ANGELES — Kellie Pickler is making a poignant return to the “American Idol” stage on Monday, May 4, 2026, marking her first major televised appearance in more than three years since the tragic death of her husband, songwriter Kyle Jacobs. The fan-favorite from Season 5 will join fellow 2006 alumni for a special 20th anniversary reunion episode celebrating the show’s Class of 2006.

Kellie Pickler
Kellie Pickler

The announcement came during the official “American Idol” podcast when host Danielle Fishel revealed that Pickler, along with Taylor Hicks, Paris Bennett, Elliott Yamin and Bucky Covington, would duet with this season’s Top 5 contestants. Former judges Paula Abdul and Randy Jackson are also expected to appear, adding layers of nostalgia to the milestone night.

For Pickler, 39, stepping back onto the iconic stage represents far more than a performance. It signals a careful re-entry into public life after a period of profound grief and relative seclusion following Jacobs’ death by suicide on Feb. 17, 2023, at age 49.

A Career Launched on Idol

Kellie Pickler first captured America’s heart in 2006 as the bubbly, charismatic 19-year-old from Nashville who finished sixth on Season 5. Her Southern charm, powerful vocals on hits like “Red High Heels” and “I Wonder,” and genuine personality turned her into a country music star and television personality. Post-Idol, she released multiple albums, hosted “Pickler & Ben” on CMT, competed on “Dancing With the Stars” and became a beloved figure in entertainment.

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Her connection to “American Idol” runs deep. The show launched her career and introduced her to millions. Returning for the 20th anniversary of her season feels like a full-circle moment, yet one tinged with bittersweet emotion given her personal journey.

Life After Loss

Kyle Jacobs, a successful songwriter whose credits include Tim McGraw’s “Highway Don’t Care” and Garth Brooks tracks, was found dead at the couple’s Nashville-area home. His death was ruled a suicide. The couple had been married since 2011 and frequently collaborated creatively.

In the aftermath, Pickler largely stepped away from the spotlight. She has spoken sparingly about her grief but shared in rare interviews and social media posts about the profound impact of losing her partner and best friend. A legal battle with Jacobs’ family over his estate added further complexity to her healing process.

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Her only notable public performance since the loss came in April 2024 at Nashville’s Ryman Auditorium during a Patsy Cline tribute. Pickler admitted to feeling intense nerves that night, dedicating a song she co-wrote with Jacobs and sensing his presence. That appearance offered fans a glimpse of her resilience.

Emotional Weight of the Return

Monday’s “Idol” episode carries significant emotional weight. Dueting with current Top 5 contestants — Chris Tungseth, Hannah Harper, Braden Rumfelt, Keyla Richardson and Jordan McCullough — places Pickler in a mentoring role, passing the torch while reconnecting with her roots.

Producers have not detailed which songs she will perform, but expectations run high for heartfelt moments. Fans speculate she may choose material tied to her journey or a tribute reflecting themes of love and loss. The presence of Season 5 peers creates a supportive environment for what many view as a courageous step forward.

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“American Idol” has long served as a platform for emotional stories, and Pickler’s return fits that tradition. Executive producer and judge Luke Bryan, along with Katy Perry (in her final season) and Lionel Richie, are expected to offer warm welcomes.

Fan Reactions and Anticipation

Social media has buzzed with excitement and support since the announcement. Hashtags like #KelliePicklerReturns and #IdolSeason5Reunion trended, with fans sharing memories of her original run and messages of encouragement. Many expressed pride in her strength and eagerness to see her shine again.

Country music insiders note the appearance could signal new music or projects on the horizon. Pickler has maintained a lower profile but never fully stepped away from creative pursuits. Her resilience has inspired many facing similar losses.

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Broader Context for American Idol

This Season 24 episode blends celebration with current competition as the show heads toward its finale. The 20th anniversary nod to Season 5 — one of the most memorable in “Idol” history, featuring Hicks as winner — highlights the show’s enduring legacy.

“American Idol” continues thriving on ABC, blending fresh talent with alumni returns to bridge generations. Pickler’s story adds depth, reminding viewers of the human element behind the performances.

Looking Ahead

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Whether Monday marks the start of more frequent appearances or remains a singular, meaningful homecoming remains to be seen. For now, fans and the industry celebrate Pickler’s courage in returning to the stage that changed her life.

As she prepares to perform, Pickler carries the love and memories of her husband alongside the support of millions who have followed her journey. In a night filled with music and nostalgia, her presence will likely resonate as a testament to healing, strength and the enduring power of song.

The episode airs at 8 p.m. ET on ABC, promising an unforgettable blend of past and present “Idol” magic centered on one fan-favorite’s brave return.

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Why Wall Street Says Strong Buy Despite AI Spending Surge

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Stock Market

NEW YORK — As Meta Platforms Inc. (NASDAQ: META) navigates a volatile 2026 market environment, Wall Street analysts overwhelmingly recommend buying the stock, with a consensus “Strong Buy” or “Moderate Buy” rating and average 12-month price targets suggesting substantial upside from current levels near $610. Despite a post-earnings dip following elevated AI capital expenditure guidance, the social media giant’s robust advertising growth, user engagement and artificial intelligence initiatives position it as a compelling long-term investment for many.

Headquarters of Facebook parent company Meta Platforms Inc in Mountain View
Headquarters of Facebook parent company Meta Platforms Inc in Mountain View

Meta shares traded around $608–$612 in early May 2026, down from recent highs but still reflecting strong performance over the longer term. The stock has faced pressure after the company’s first-quarter results, where it raised 2026 capex forecasts to $125–$145 billion, primarily for AI infrastructure. Yet analysts see the heavy investment as a strategic bet on future dominance rather than a red flag.

Q1 2026 Earnings: Beat Overshadowed by Spending

Meta reported strong first-quarter results on April 29, with revenue reaching $56.3 billion, up 33% year-over-year, and diluted EPS at $10.44 (boosted by a one-time tax benefit). Both figures beat expectations. Advertising revenue, the core driver, continued its momentum amid Reels monetization gains and improved ad targeting.

However, the market focused on the increased capital spending outlook, sending shares down as much as 7–10% in after-hours and subsequent trading. Higher costs for AI chips and data centers fueled margin concerns in the near term, though CEO Mark Zuckerberg emphasized long-term payoffs in efficiency, content creation and new revenue streams.

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Analyst Consensus: Strong Buy with $830–$840 Targets

As of early May 2026, 38 to 60 analysts cover Meta, with the vast majority issuing Buy or Strong Buy ratings and zero Sell recommendations in recent tallies. The average 12-month price target sits between $823 and $840, implying roughly 35–38% upside from current prices. High targets reach $1,015, while lows hover around $700.

Firms like Bank of America, Barclays and others have maintained or raised targets post-earnings, citing Meta’s advertising resilience and AI leadership through open-source models like Llama. Valuation remains attractive at a forward P/E around 21x with high margins and return on equity near 30%.

Bull Case: AI Investments Fuel Future Growth

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Proponents argue Meta’s spending spree positions it at the forefront of AI-driven social platforms. Advances in recommendation algorithms, ad efficiency and potential new products — including metaverse and hardware initiatives — could drive sustained revenue acceleration. User metrics remain robust across Facebook, Instagram, WhatsApp and Threads.

Analysts highlight Meta’s ability to monetize AI tools for creators and advertisers while controlling costs over time. With no major competitive threats eroding its social dominance and global user base exceeding 3 billion monthly actives, the company’s scale provides a durable moat. Long-term forecasts see continued double-digit revenue growth into 2027 and beyond.

Bear Concerns: High Capex and Macro Risks

Skeptics point to near-term margin compression from elevated spending, potential regulatory hurdles in Europe and elsewhere, and broader economic uncertainty affecting ad budgets. The stock’s pullback reflects investor fatigue with heavy AI outlays before clear monetization proof emerges at scale.

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Some trimmed targets post-Q1, citing macroeconomic weakness. However, even cautious voices maintain Buy or Hold ratings, viewing any weakness as a buying opportunity rather than a reason to sell.

Investment Considerations for 2026

For growth-oriented investors, Meta offers exposure to digital advertising recovery, AI innovation and potential efficiency gains. Dividend growth and share buybacks provide additional shareholder returns. Risks include execution on AI, geopolitical tensions and valuation multiple contraction if growth slows.

Diversified portfolios may benefit from Meta as a core tech holding, but position sizing should account for volatility. Short-term traders might wait for stabilization after the capex reaction, while long-term holders see current levels as attractive entry points given analyst targets.

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Broader Market Context

Meta’s trajectory mirrors other Big Tech names balancing AI ambition with profitability. Strong Q1 ad performance underscores resilience in a competitive landscape, with competitors like TikTok and emerging platforms challenging but not displacing its ecosystem.

As 2026 progresses, upcoming quarterly reports, AI product launches and macroeconomic data will influence sentiment. Analysts will watch user engagement metrics, ad pricing power and progress on cost discipline amid heavy infrastructure builds.

Conclusion: Overwhelmingly a Buy for Most

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Wall Street’s near-unanimous bullish stance, coupled with Meta’s proven business model and forward-looking investments, tilts the scales strongly toward Buy for 2026 and beyond. While elevated spending creates short-term noise, the consensus view holds that Meta’s strategic positioning will deliver significant shareholder value over the medium to long term.

Investors should conduct their own due diligence, consider risk tolerance and consult financial advisors, as stock performance involves inherent uncertainties. With no Sell ratings from major analysts and substantial implied upside, Meta remains one of the more favored large-cap tech names heading deeper into 2026.

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Gas prices topping $4 a gallon drag down restaurant chain sales across the US

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Gas prices topping $4 a gallon drag down restaurant chain sales across the US

Several U.S. restaurant chains are reporting weaker than expected sales growth in the latest quarter as high gasoline prices squeeze consumers’ budgets.

Gas prices have surged amid the war in Iran, with average gas prices reaching $4.45 a gallon around the country, an increase of about 41% in the last year, according to AAA data.

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Prices have risen even more dramatically in certain states, with gas prices in California topping $6 a gallon, which can weigh heavily on restaurants with a presence in the nation’s most populous state.

An analysis by Revenue Management Solutions, a restaurant consulting firm, finds that $4 a gallon is a tipping point as consumers will gradually decrease their restaurant visits until gas prices at the pump hit that threshold, at which point the impact doubles.

DOJ CONFIRMS ANTITRUST PROBE OF MAJOR MEATPACKERS OVER BEEF PRICE INFLATION

The exterior of a Wingstop restaurant

Wingstop is one of the restaurants that has reported slowing sales amid the gas price surge.  (Bing Guan/Bloomberg via Getty Images)

The firm estimated that $4.20 average gas prices mean about 1.5% fewer restaurant visits, and if they rise to $5.10 or more, fast-food restaurants could see a 3% drop in traffic. Further, it estimated that for a drive-through restaurant with 300 daily transactions, a $1 spike loses about six customers per day and amounts to about $22,000 in lost annual sales.

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Wingstop, a chicken-wing chain that touts its affordability, said that higher fuel prices contributed to an 8.7% decline in quarterly same-store sales. 

The chain’s CEO, Michael Skipworth, said Wednesday on a call with investors that it was “extremely difficult for anyone to predict this macro environment,” adding that he expects shrinking sales over this year in part because of expectations that gas prices will remain high.

MCDONALD’S IS QUIETLY DITCHING A POPULAR IN-STORE FEATURE NATIONWIDE

A Domino's pizza restaurant in Chicago.

Domino’s said that its rivals are aggressively discounting to compete as consumers are strained by energy prices. (Beata Zawrzel/NurPhoto via Getty Images)

Domino’s CEO Russell Weiner told investors on Tuesday that his chain’s competitors ran promotions “out of our playbook,” which contributed to the weaker than expected same-store sales growth of 0.9% in the latest quarter. Weiner added that while his chain is still better positioned than its rivals to sustain those discounts, the company lowered its sales forecasts for the year.

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Some restaurant chains that performed well in the latest quarter are remaining cautious as they look ahead in their outlook. Chipotle had better than expected same-store sales growth of 0.5%, but kept an outlook of flat growth this year, which CFO Adam Rymer attributed in part to gas price uncertainty.

Starbucks reported 7.1% quarterly same-store sales growth in North America on Tuesday and may have benefited from the gloomy consumer outlook, as CEO Brian Niccol told investors the company gained among lower-income consumers who saw the chain as offering “a little bit of indulgence.”

Ticker Security Last Change Change %
WING WINGSTOP INC 150.50 -10.23 -6.36%
DPZ DOMINO’S PIZZA INC. 330.42 -7.35 -2.18%
YUM YUM! BRANDS INC. 154.40 -3.96 -2.50%
XBUX NO DATA AVAILABLE

COSTCO CHANGES BELOVED $1.50 HOT DOG DEAL FOR THE FIRST TIME IN DECADES: REPORTS

Restaurants are also looking to meet consumer demand for affordable meals through value menu offerings. Taco Bell, a subsidiary of Yum Brands, launched a value menu starting at $3 in January and reported 8% quarterly same-store sales growth at U.S. restaurants.

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Mark Wasilefsky, head of restaurant finance at TD Bank, said that the industry is “seeing a record level of value menus right now.”

Investors’ concerns about the restaurant sector’s resiliency during the gas price spike has contributed to a 5% drop in the LSEG U.S. restaurant index since the start of the Iran war, which erased over $40 billion in market value, according to LSEG data.

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The next key indicator of the impact of the Iran war and the gas price shock on the restaurant industry and its consumers will come on May 7 when McDonald’s reports, after the chain had stronger sales growth than expected in the prior quarter amid a value menu push.

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Reuters contributed to this report.

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LARRY KUDLOW: More bombing is coming as Iran pulls out a blank piece of paper to take Trumpian dictation

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LARRY KUDLOW: More bombing is coming as Iran pulls out a blank piece of paper to take Trumpian dictation

So the Iranians send back a ridiculous set of agreement conditions that doesn’t even mention their nuclear threats. Nor does it mention their constant state-sponsored terrorism. And President Trump quickly responded that it was unacceptable.

Time and again the president has said Iran must not have any nuclear capabilities. No nuke building, no enriched uranium, no missiles, no more terrorist proxies, and no more control over the Strait of Hormuz. Those are his red lines. He will stick to them. And as far as Hormuz is concerned, the United States Navy has now begun the process of reopening the Strait. They’ve guided two ships through today and they are likely to ramp up many many more ships to safely pass through the Strait.

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In effect, whether the Iranian thugs realize it or not, America has completely taken over the Persian Gulf, which I guess should be the Arabian Gulf, although I may personally be willing to hold out for the Trump Gulf. The Iranians took shots at the United Arab Emirates, which has become a staunch American ally. Leaving OPEC ramping up oil production and transacting through the dollar. 

Our naval blockade continues to work as Iran continues to drop into economic and financial ruin. No oil, no money, no meeting payroll or retirement packages. Even all that money the Islamic Revolutionary Guard Corps has stolen and looted from the Iranian people, including running their businesses into the ground, and all that offshore bank accounting has now been frozen or even seized by the United States Treasury.

Meanwhile, without oil exporting, Iran’s storage capabilities are filled up and overflowing, and a shutdown is imminent. Once that happens, the oil fields will be badly damaged for quite some time.

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The blockade is going to stay in place. The Navy is going to gradually reopen the Strait of Hormuz and American order will be imposed on the whole region, as more super tankers flow through, that should begin to ease oil prices and perhaps even gasoline prices at the pump. The ceasefire has lasted 3 weeks, though. The Iranians haven’t responded with any serious talks. And my hunch is Mr. Trump is losing patience with them.

At some point Iranian leaders are not going to make it home at night before a resumption of bombing occurs. Analysts say it will only take a couple more weeks to fully complete the mission. There can be no deal without the president’s red lines. And, indeed, I still believe we are headed for unconditional surrender.

I can just see Mr. Trump at a meeting with some Iranian leader if he can find one. Tell that person to take out a blank sheet of paper and write down this and that. That’s called dictation. Unconditional dictation.

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Sonos FY25 slides: $12B opportunity in base despite revenue dip

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Sonos FY25 slides: $12B opportunity in base despite revenue dip


Sonos FY25 slides: $12B opportunity in base despite revenue dip

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OPEC Signals Unity After U.A.E. Exit With Pledge to Boost Oil Output

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OPEC Signals Unity After U.A.E. Exit With Pledge to Boost Oil Output

OPEC sought to project a united front Sunday, agreeing to a symbolic increase in oil output just days after the bombshell departure of the United Arab Emirates. But the pledge masks fault lines that could soon resurface.

The Organization of the Petroleum Exporting Countries and its allies agreed to raise production by about 188,000 barrels a day in June, a third consecutive ⁠monthly increase and a signal to markets that the cartel’s policies remain unaffected by the rupture.

Copyright ©2026 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

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QYLG: Rotation Into QQQ During The Bull Market

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QYLG: Rotation Into QQQ During The Bull Market

QYLG: Rotation Into QQQ During The Bull Market

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US foreclosures hit 6-year high as insurance and property tax costs rise

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US foreclosures hit 6-year high as insurance and property tax costs rise

Foreclosures rose to the highest level in six years in the first quarter of this year as homeowners are squeezed by rising costs related to insurance and property tax bills.

The Wall Street Journal reported that data from Attom shows the number of U.S. properties with a foreclosure filing has trended up to nearly 119,000 in the first quarter, an increase of 26% from the same period last year.

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That figure is the highest since the first quarter of 2020, when mortgage relief measures implemented to mitigate the economic impact of COVID shutdowns led to a steep decline in foreclosures.

Analysts have noted that the current foreclosure rate represents a return to what were normal levels prior to the COVID-19 pandemic, as opposed to a sign of borrowers becoming increasingly distressed financially.

AVERAGE MONTHLY MORTGAGE PAYMENT HITS NEW HIGH, TOPPING $2K FOR FIRST TIME EVER

Homes in Centreville, Maryland

Homeowners are facing rising costs and foreclosure levels have returned to prepandemic levels. (Nathan Howard/Bloomberg via Getty Images)

However, the Journal’s report said that although many homeowners have low mortgage rates, rising costs for things like home insurance, property taxes and dues for homeowners’ associations are ramping up spending on bills.

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A report by Insurify found that the average annual bill for homeowners insurance rose $2,948 in 2025, up 12% from 2024, while Attom data showed that average property tax burdens were up 3% to $4,427.

CALIFORNIA BUILT MORE HOMES THAN PEOPLE OVER SIX YEARS – SO WHY IS HOUSING STILL SO TIGHT?

Home with a "for sale" sign

Homeowners are facing rising bills from property taxes, insurance and neighborhood association dues. (iStock/Getty Images Plus)

Those who purchased homes within the past few years may be in worse shape after purchasing at higher mortgage rates, as some areas have seen declines in home values that could leave some owners underwater.

Homeowners who are facing financial distress and the risk of slipping into delinquency or foreclosure have fewer options for relief than what was available a few years ago before pandemic-era programs were sunset. 

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For example, the Federal Housing Administration (FHA) announced in October that homeowners are limited in resorting to measures like loan modification to avoid foreclosure once every 24 months.

PROPERTY TAX BURDEN ON AMERICANS CLIMB AS HOME VALUES DIP, NEW DATA SHOWS

Foreclosure sign

Many federal pandemic-era foreclosure relief programs have ended. (Getty Images)

The data comes as data shows the average monthly payment for all outstanding mortgages reached a new high at the end of last year, as it rose to $2,005 in the fourth quarter, according to Realtor.com data.

The uptick covers the full portfolio of mortgages in the U.S., including a large group of borrowers who took out loans before 2022 and have mortgage rates of 4% or lower – whereas new buyers face significantly higher payments given the elevated mortgage rates.

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The average monthly payment for new homebuyers passed the $2,000 threshold for the first time in September 2022.

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Macom SVP global sales Hwang sells over $1m in stock

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Macom SVP global sales Hwang sells over $1m in stock

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