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New home sales fell for the second straight month, signaling a possible return to pre-pandemic levels. But experts say real estate still has legs. |
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Red-hot housing market shows signs of slowing down One of the top beneficiaries of the pandemic -- the sizzling housing market -- is experiencing a bit of a cooling-off period as the nation makes the transition back to normal. New home sells fell nationally for the second consecutive month, but the boom is far from over. Despite the near-6% drop in home sales in May, industry analysts point to several factors that indicate the home-buying craze may still be upon us. Record-highs in median home prices and lumber costs have many potential home-buyers waiting in the wings for a deal. SEE WHICH REGIONS OF THE US TOOK THE BIGGEST HITS
Big Tech takes heat for monopolistic behavior The House Judiciary Committee held hearings Wednesday aimed at breaking up the Big Tech monopoly on the internet, and lawmakers didn't hold back. In proposing five antitrust laws targeting tech giants, both Democrats and Republicans took turns teeing off on the Big Tech companies, but perhaps Rep. David Cicilline, D-R.I, said it best: "The digital marketplace suffers from a lack of competition ... (and) are defined by monopolies or duopoly control. Amazon, Apple, Facebook and Google are gatekeepers to the online economy. They bury or buy rivals and abuse their monopoly power conduct that is harmful to consumers, competition, innovation and our democracy." FIND OUT WHAT ANTITRUST LAWS ARE TARGETING BIG TECH
Warren Buffett stepping down from Gates Foundation What happens when one multi-billionaire resigns as trustee from two multi-billionaires' foundation? He makes a multi-billionaire donation, of course. At least that's what Warren Buffett did as a parting gift to Bill and Melinda Gates following their increasingly public divorce. Buffett gave no explanation for his decision to walk away from the charity-based Gates Foundation, but he did give a check for $4.1 billion. That's chump change for the 90-year-old Buffett, whose net worth is over $100 billion, but it raises questions about his departure. DID RECENT CHARGES AGAINST BILL GATES PLAY A ROLE?
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Markets
| DJIA | 33,874.24 | -0.21% |
| S&P 500 | 4,241.84 | -0.11% |
| Nasdaq Composite | 14,271.73 | 0.13% |
| Japan: Nikkei 225 | 28,920.12 | 0.16% |
| UK: FTSE 100 | 7,074.06 | -0.22% |
| Crude Oil Futures | 73.10 | 0.03% |
| Gold Futures | 1,775.40 | -0.45% |
| Yen | 111.00 | 0.04% |
| Euro | 1.19 | -0.02% | | * As of market close |
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Fines adding up for unruly passengers
If you want to act like a jerk on an airplane, you'd better bring your check book. The FAA is hitting unruly passengers with heavy fines -- more than 3,000 incidents and over a half million dollars -- since New Year's Day. The vast majority of incidents involve passengers refusing to wear their masks and consuming too much alcohol, but a few have been down-right scary. In some cases, members of the air crew have had to enlist the aid of passengers to subdue those who get out of control. If hitting them in the head with a service cart isn't working, maybe hitting them in the wallet will. READ ABOUT THE CRAZY STUNTS PASSENGERS HAVE PULLED
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McAfee's wild run ends with his death
The long, bizarre tale of antivirus software pioneer John McAfee came to a tragic end Wednesday when he was found dead in his Spanish jail cell from an apparent suicide. The 75-year-old was facing extradition to the U.S. and up to 30 years in prison on tax evasion and related charges. McAfee has been in jail since for eight months after being arrested in Barcelona while trying to board a flight to Istanbul. Before his arrest he had eluded law enforcement while making videos promoting the sale of cryptocurrencies. Federal authorities claim that McAfee did not file taxes between 2014 and 2018, when he allegedly made more than $12 million. FOLLOW MCAFEE'S WILD TRIAL OF DRUGS, WEAPONS, MURDER
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Pop star asks judge to #freebritney
Following a lengthy legal battle and a public relations campaign that saw millions post "#freebritney" on their social media accounts, 39-year-old pop star Britney Spears finally got her day in court Wednesday, pleading with a judge to end her father's conservatorship of her business affairs. Testifying virtually for 20 minutes, Spears told the judge, "I just want my life back. It's been 13 years and it's enough," Spears' father and manager, Jamie Spears, has handled her finances since her breakdown in 2008. During that time period, Spears' fortune was estimated at $50 million. FIND OUT WHETHER THE JUDGE WILL RULE TO #FREEBRITNEY
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Oops, she did it again
Britney Spears holds lots of world records for sales, but she also claimed to own one that's a real head-scratcher. Last year Spears mistakenly posted that she ran the 100 meters in 5.97 seconds, which if true would have shattered the world record held by what "World's Fastest Human"? Wednesday's answer: Fruit flies were the first animals in space, riding a U.S.-launched V-2 rocket in 1947. But this was no giant leap for flykind -- they were used to study the effects of radiation exposure at high altitudes. SEND YOUR ANSWER HERE TO SHOW OFF YOUR KNOWLEDGE
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