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Consumer discretionary and consumer staples companies news.

The IRS announced last week that it would waive late filing penalties for Americans who were tardy in submitting their tax returns during the height of the Covid-19 pandemic. Almost 1.6 million American taxpayers are expected to automatically and collectively receive at least $1.2 billion in credits and refunds for...
On Tuesday, American Airlines reached a deal with the aircraft manufacturer Boom Supersonic to purchase 20 of its 65 to 80 passenger jets, marking the second U.S. airline player to invest in the ultra-fast form of travel for passengers in two years. United Airlines ordered 15 of Boom’s Overture...
According to New York Life’s most recent Wealth Watch survey, 36 percent of American adults admitted that they have had to dip into their personal savings during the first half of 2022. People withdrew an average of $617 to help cover higher everyday living expenses, which have been going...
According to Bloomberg, the mother company of TikTok has just entered into the healthcare space by acquiring Amcare Healthcare. Amcare operates higher-end women's and children’s clinics throughout China. ByteDance’s Xiaohe Health is purchasing the healthcare organization in a $1.5 million deal. According to Wikipedia, TikTok’s parent organization is headquartered...
Consumer prices for goods and services rose 8.5 percent higher in July when compared to a year ago. Dow Jones economists had expected consumer prices to rise 0.2 percent on a monthly basis and 8.7 percent on an annual basis. The rise in prices was slower than it was in...
On Wednesday, Walmart announced that it was laying off some of its corporate employees. Last week, the retailer said that it was cutting its profit outlook as consumers scaled back on discretionary spending because of inflation. Walmart said that the layoffs would “better position the company for a strong future.” Thus...
Amazon has said that its plans to add custom electric delivery vans from Rivian Automotive are moving forward. Last week in a news release, the e-commerce giant said it would begin releasing the first wave of vehicles and plans to have “thousands” of the EVs delivered to at least...
According to the National Association of Realtors, June’s previously-owned home sales dropped by 5.4 percent from May. It marked the slowest sales since June 2020 when sales fell off briefly after the beginning of the Covid outbreak.  June’s numbers were based on home closings and most of those contracts were...
June’s producer price index, or PPI, almost smashed March's record of 11.6 percent. Last month, the index went up by 11.3 percent compared to the same period in 2021. The PPI is a measurement of the average price changes domestic producers get for their output or products.  Nearly 90 percent...
Housing inventory was 19 percent higher in June compared to last year’s June inventories. However, the level of housing inventory remains about half of what it was before the pandemic began. In June, the average listing price for a home hit a record of $450,000. Meanwhile, according to ATTOM, it...