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By Lucia Mutikani WASHINGTON (Reuters) – U.S. retail sales dropped more than expected in May, with spending rotating back to services from goods as vaccinations allow Americans to travel and engage in other activities that had been restricted by the COVID-19 pandemic. Despite last month’s decline reported by the Commerce Department on Tuesday, the trend in retail sales remains strong. Sales in April were revised sharply up and are well above their pre-pandemic level, keeping intact… Source link

Stock futures were mixed Tuesday morning investors considered a spate of new economic data, including a weaker-than-expected print on consumer spending during the recovery.  Contracts on the S&P 500 and Nasdaq rose, while contracts the Dow fluctuated between gains and losses. Investors considered another batch of key economic data out Tuesday morning, offering looks at both the strength of the consumer and extent of price increases across the supply chain.  The Commerce Department’s May… Source link

NEW YORK (AP) — “Gone Girl” actor Lisa Banes died 10 days after being injured by a hit-and-run driver in New York City, police said. The 65-year-old Banes, who was struck by a scooter or motorcycle while crossing a street on June 4, died Monday at Mount Sinai Morningside Hospital, a police department spokesperson said. The driver did not stop, police said. Banes appeared in numerous television shows and movies, including “Gone Girl” in 2014 and “Cocktail” with Tom Cruise in… Source link

Fund managers aren’t sold that bitcoin (BTC-USD) is a screaming buy after the cryptocurrency’s rout.  Eighty-one percent of fund managers polled in a new Bank of America survey say bitcoin is still a bubble despite the steep price pullback. Investors view bitcoin as the second most crowded traded (investors love bitcoin perhaps too much) behind being long commodities.  A total of 224 fund managers with $667 billion in assets under management participated in the survey. To be sure, bitcoin… Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Tuesday, June 15, 2021 A transitory surge cools off.  Two months ago it took only one thing to be rich.  And that was a piece of lumber.  Through the spring, the surge in lumber prices became the market narrative as it covered every pandemic-related trend: Labor shortages, shipping constraints and housing demand — all in one place.  But now it… Source link

A survey shows hedge funds plan to increase their exposure to cryptocurrencies by 2026. Photo: Getty Images Bitcoin dropped below $40,000 (£28,410) on Tuesday morning even as a survey showed hedge funds interest is on the up and billionaire venture capitalist Tim Draper said he is sticking by his prediction that the cryptocurrency will reach $250,000 by the end of 2022 or early 2023. Bitcoin (BTC-USD) was down 1% and trading at $39,717 a day after it got a boost as American hedge fund magnate… Source link

The App is Back! Don’t forget to download the NBC Sports EDGE app to receive real-time player news, mobile alerts and track your favorite players. Plus, now you can check out articles and player cards. The Rockies were rightly maligned for the Nolan Arenado trade, but it does look like they got a pretty good one back in the deal in Austin Gomber. Gomber twirled a gem on Monday in Colorado against the Padres, hurling a career-high-tying eight shutout innings in the Rockies’ 3-2 victory…. Source link

Distance runner Shelby Houlihan was banned from the sport for four years after testing positive for an anabolic steroid, and she’s blaming a burrito. Houlihan, who is the current national champion and record-holder at both the 1,500-meter and 5,000-meter runs, wrote on Instagram on Monday that she had been banned for four years after testing positive for nandrolone, an anabolic steroid. The “most likely explanation” for the positive test, she said, was a “burrito purchased and consumed… Source link

Apparently, the heavy wrap on Trae Young‘s shooting shoulder worked. Following an 0-for-5 start from the field, the Atlanta Hawks point guard had his right shoulder wrapped by trainers at the end of the first quarter. Backcourt mate Bogdan Bogdanovic limped to the sideline soon after. The Philadelphia 76ers stretched their first-half lead to 18 points, and the Hawks looked cooked — surely bound for a second straight home loss and a 3-1 uphill climb in the Eastern Conference semifinals.  But… Source link

Soaring home prices made you house-rich? Here’s how to make the most of it The U.S. real estate market is often depicted these days as a place where the dreams of first-time homebuyers go to die. But it can be easy to forget (or ignore) just how positive an impact homeownership has on Americans lucky enough to survive the gauntlet. Thanks to escalating home prices, approximately 46 million homeowners were sitting on a record $7.3 trillion in equity at the end of 2020, according to mortgage… Source link