Morning Business Report: Trade talks, market highs, and soaring home values
(LILAMAX)- Trade negotiators from the United States and China met in London this week, with discussions expected to continue today, according to CNBC. At the top of the U.S. agenda is a potential easing of China’s export restrictions on rare earth materials—a key component in tech and manufacturing. White House economic advisors say progress on this front could significantly boost market optimism. In fact, analysts at JP Morgan suggest that successful talks could push stocks to new all-time highs.
Markets responded positively on Monday, with the S&P 500 climbing and now sitting just 2 percent below its record peak. Investors appear hopeful that renewed U.S.-China cooperation may stabilize global trade tensions.
Meanwhile, the U.S. housing market continues its historic surge. Home listing prices have hit an all-time high, with the total value of U.S. homes increasing 20.3% year-over-year to a record $698 billion, according to real estate firm Redfin. The spike is fueled by rising home-sale prices and expanding inventory, even as demand shows signs of cooling. Redfin predicts the market could soon shift in favor of buyers as listings begin to outpace demand.
In tech news, Apple’s annual developer conference delivered major updates to the design of its software but fell short on groundbreaking advancements in artificial intelligence. The company showcased a futuristic new look for its lock screen and interface—highlighting “glass-like” aesthetics, pill-shaped buttons, and fluid new animations. While AI enhancements were minimal, the visual overhaul could reshape user experience across Apple devices.
A new survey conducted by Talker Research on behalf of Apple Vacations reveals just how much Americans are willing to pay for some peace and quiet. The average person would shell out $2,521 for a day of uninterrupted relaxation. Parents say they’d pay $1,147 more than non-parents for the same luxury. A lazy morning alone? That’s worth $325, according to the average parent polled.
