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Are Americans finally cracking under the pressure of rising prices? We’re about find out

Are Americans finally cracking under the pressure of rising prices? We’re about find out


This week, four of America’s biggest retailers will release their quarterly earnings reports. The most pressing question will be whether Americans finally start to buckle under rising prices. Subscribe to this story to get unlimited access to exclusive content and ad free articles. Home Depot’s, Lowe’s’, Walmart’s and Target’s results will provide a clearer picture of how U.S. householders are managing an economy under increasing pressure from rising gas prices

Journalists, economists and investors will be analyzing the financial results of the companies and their accompanying comments to look for any signs of stress. Are consumers switching to cheaper products? Delaying home improvements? What about cutting back on purchases of discretionary items to focus on essentials? What is behind America’s inflation spike? stubborn inflation 01.24

Home Depot started the closely-watched earnings parade on Tuesday morning by reporting a 5% rise in sales over a year ago. Homeowners are “more financially protected” than other customers according to the company’s when many consumers are already stretched thin, but they still hold off on expensive projects. Housing affordability is a huge challenge. Average mortgage rates for 30-year fixed loans were 6.68 % nationwide on Monday,

. Home Depot’s results confirm early spring data on consumer spending that shows consumers are doing well, but not equally. According to a report by the Bank of America Institute published in April, total spending on credit and debit cards per household was up 4.8% compared to a year earlier. This is a record-breaking increase. A deeper divide, say economists, is emerging beneath the resilience of headlines. According to economists, the so-called K shape economy – in which wealthy households account for a large share of consumer spending and lower-income families struggle – has grown in recent months. The report revealed that lower- and mid-income families were cutting back on discretionary expenditures like dining and entertainment. Wealthier households, boosted by rising home equity and strong stock market gains, continued to spend at an accelerated pace. The economists warn, however, that the financial pressure on low-income households may increase, as inflation in April was 3.8%, which is above the 3.6% wage growth rate for that month. The gap could widen further, complicating the Federal Reserve’s course under Kevin Warsh. He is expected

on Friday. Warsh will take over the Fed’s top job, having already stated that he is open to ” ” at the Fed. This comes as persistent inflation may force the central banks to maintain interest rates higher than they could have anticipated just a few short months ago, to avoid the economy overheating. Higher benchmark interest rate from the Fed has a direct impact upon consumer lending costs. Therefore, the same elevated borrowing cost would continue to increase the pressure on business and consumers that are already struggling to cope with rising costs. The Bank of America economists stated that while households have some short-term buffers, such as tax refunds and saving, these are also unevenly distributed. This highlights the growing gap between headline resilient and stress experienced by certain households.

What’s behind America’s new inflation spike

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BBC News World

Gov. Hochul says a deal has been reached to end the Long Island Rail Road strike. Kathy Hochul

Gov. Hochul says a deal has been reached to end the Long Island Rail Road strike. Kathy Hochul


After an incredibly hectic Monday for thousands of Long Island Rail Road passengers trying to enter and exit New York City, things will start to return to normal on Tuesday. Kathy Hochul. Subscribe to read the story ad free

At 12:01am on Saturday, over 3,500 LIRR employees left their jobs after the long-running contract talks broke down. The MTA refused to give the wage and cost-of living increases the workers demanded. Arriving in New York City Monday morning, commuters were met by dozens of striking union employees outside Penn Station and other travel hubs of the city chanting “No contract, No service!” No contract, no peace!

Hochul, fearing a rush-hour nightmare, had encouraged commuters to work at home if they could. “Let’s be honest: It’s difficult to replace the LIRR service,” Hochul told reporters at a Sunday news conference. She said that the commute on Monday went “smoother” than expected. “I thank the employers.”

Long Island Rail Road (LIRR) workers picket in front of Penn Station in New York City
As Hochul spoke to the crowd, negotiators of the five striker unions, and the MTA (which runs the LIRR) returned to the table to try and reach an agreement. The five unions include the Brotherhood of Locomotive Engineers and Trainmen (BLET), the Brotherhood of Railroad Signalmen (BRS), the International Association of Machinists and Aerospace Workers (IAMAW), the International Brotherhood of Electrical Workers and Transportation Communications Union. Hochul met with MTA leadership as well. “Our goal to get this over quickly,” she said. Bruce Blakeman, Nassau County Executive on Long Island called on Hochul during the strike to suspend congestion pricing. Blakeman, a Republican running to unseat Hochul said: “It is a pity that we are going to charge New Yorkers an extra $9 to travel on public roads that they paid for with their taxes, especially during the strike, when many people have no choice but to drive.” Congestion pricing is intended to reduce gridlock, pollution and fund public transportation. Blakeman has been endorsed by President Donald Trump against Hochul. Hochul said that there was no “legal mechanism” for suspension of congestion pricing. “Anyone who says they can’t doesn’t understand federal laws,” said Hochul. The MTA has mapped out alternative transit options ahead of the first LIRR strike since 1994. These include free shuttle buses between seven locations on Long Island and two subway stations in Queens

as well as additional subway service. New York Mayor Zohran Mamdani said that police officers will be deployed on major roads and inside subway stations in order to “ensure commuter safety, prevent illegal parking, and ensure traffic is moving.” Mamdani added that inspectors are making sure parking garage operators don’t raise rates for drivers driving into Long Island, by reminding them of the 60-day notice requirement. MTA CEO Janno Lover said that they were available to negotiate if the unions wanted to. “They walked and they went out on strike.” The unions claimed that there was a difference of less than a percentage-point between the two sides before the talks broke down on Friday night. They also said that the strike could have been avoided. He said that his estimate was based in part on inflation and ridership patterns.

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BBC News World

From The Sports Desk: The NBAs Final Four is here

From The Sports Desk: The NBAs Final Four is here

The Cleveland Cavaliers shocked the basketball world Sunday with a 31-point road win in Game 7 to advance past the Detroit Pistons and into the Eastern Conference Finals. There they’ll meet the red-hot New York Knicks, who have not lost in the postseason since May.

In the West, the Victor Wembanyama-led San Antonio Spurs will face the defending NBA champion Oklahoma City Thunder in a matchup of the top two teams in the league. That series starts tonight and will be streamed on Peacock.

Also, our World Cup countdown continues with Colombia star Luis Díaz. For more WNBA and World Cup coverage, check out the NBC News website.


NBA Conference Finals Preview

Donovan Mitchell reacts during the fourth quarter against the Detroit Pistons in Game Seven of the Second Round of the NBA Eastern Conference Playoffs.
Donovan Mitchell of the Cleveland Cavaliers reacts against the Detroit Pistons in the NBA Eastern Conference playoffs in Detroit on Sunday.Gregory Shamus / Getty Images

After a blowout win Sunday by the Cleveland Cavaliers over the Detroit Pistons in Game 7 of their second-round series, the conference finals are now set: The Cavaliers will play the New York Knicks in the East, and the San Antonio Spurs will play the Oklahoma City Thunder in the West. Here’s a quick preview of both matchups.

Let’s start with the Thunder and Spurs, a titanic clash that begins tonight between the two best teams from the regular season. Let me put this as simply as I can: Whether you love the NBA or not, you need to find a way to watch every minute of this series. This is the first time since 1998 that two teams with at least 62 regular-season wins have met in the playoffs, and we should be in store for an incredibly hard-fought battle.

This matchup features two ascendant young stars in Shai Gilgeous-Alexander and Victor Wembanyama (who finished first and third in MVP voting, respectively), exciting young talent, a legitimate regional rivalry and two suffocating defenses. It’s as high-level as hoops gets on the court, with the added bonus of animus and history off the court to ratchet up the tension.

San Antonio won the regular-season series over OKC 4-1, but the Thunder practically never had their full squad available. Game 1 should be a little bit of a feel-out process for both sides.

In the East, the dominant Knicks will take on Cleveland. New York has won seven straight playoff games and owns a playoff-best 20.0 net rating. The Knicks should be heavily favored this series as the Cavs have labored through the playoffs, needing seven games to win in each round.

Cleveland is coming off its most inspiring performance, however, eliminating Detroit on the road. It will have to overcome the duo of Karl-Anthony Towns and Jalen Brunson, who are thriving. Brunson is averaging 27.4 points on a career playoff-best 48.5% shooting, while Towns is averaging a career playoff-best 6.6 assists, adding 17.4 points for good measure.


World Cup Countdown

Luis Diaz of Bayern Munich controls the ball.
Luis Diaz of Bayern Munich controls the ball at Allianz Arena in Munich on Saturday.Adam Pretty / Getty Images

Leading up to the 2026 World Cup, we’re counting down 26 players to watch. They may be household names or unsung heroes, but they are crucial to their team’s success. They are the players you need to know before the games start. Today’s entry is Colombia’s Luis Díaz.

The 29-year-old Colombian winger/midfielder is one of the best goal scorers in the sport, currently lighting it up on the club level for Bayern Munich, after three years with Liverpool. Diaz should be eager and aggressive in what will be his first World Cup appearance after Colombia missed out on the 2022 tournament.

Exactly how excited is Diaz to play in his first World Cup? He scored a whopping seven goals during qualification, second only to Argentina’s Lionel Messi among South American players. In between qualifiers, Diaz also helped Colombia reach the 2024 Copa América Final, scoring two goals in a tournament in which Los Cafeteros finished second. In only 72 appearances for Colombia, Diaz has already scored 21 goals, putting him fourth on the country’s all-time list.

He also has a flair for the dramatic. In Diaz’s first major tournament with Colombia, the 2021 Copa, he scored his first goal via bicycle kick against Brazil. He should also be familiar with American soil, scoring once each in two friendlies that took place in the United States last fall.

Colombia’s best finish at the World Cup came in 2014, when the country made it to the quarterfinal. It could be in a position to make its best run yet, as Diaz is entering the tournament hot. Between the Bundesliga and Champions League, during the 2025-26 season, Diaz scored 22 goals, a career-best mark. With a hot scorer in the prime of his career, Colombia could be a major threat as long as Diaz is in top shape.

Friday’s entry was South Korea’s Son Heung-min. Read about him here.


What We’re Reading

With ICE officers potentially at World Cup matches, vendors are weighing the risk of working.

Warriors coach Steve Kerr nearly walked away from Golden State.

Listen closely for Jamal Crawford’s new, signature catchphrase.

The woman who keeps beating men in ultramarathons runs on mashed potatoes.

Jannik Sinner has completed the “Career Golden Masters” at just 24.

Aaron Rodgers is a Steeler again, officially.


What We’re Watching

Arguably the best matchup that could take place in the NBA happens tonight, when the Spurs will face the Thunder in Game 1 of the Western Conference Finals. San Antonio is led by superstar big man Victor Wembanyama, who is averaging 20.3 points, 10.7 rebounds and 4.1 blocks over 10 postseason games. His counterpart, Oklahoma City’s do-everything guard Shai Gilgeous-Alexander, has the Thunder a perfect 8-0 so far in the playoffs.

Meanwhile in the NHL, we get a Game 7 between the Montreal Canadiens and Buffalo Sabres to determine who goes to the Eastern Conference Finals. Buffalo is coming off a dominant 8-3 win to push this series to the brink. The winner will take on the Carolina Hurricanes.

All times are Eastern:

  • 7:30 p.m.: No. 2 Buffalo Sabres vs. No. 3 Montreal Canadiens, on ESPN
  • 8:30 p.m.: No. 1 Oklahoma City Thunder vs. No. 2 San Antonio Spurs, on NBC/Peacock
  • That’s it for now! We’ll be back Tuesday.

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BBC News World

Judge bans Kars4Kids jingle in California, citing misleading advertising

Judge bans Kars4Kids jingle in California, citing misleading advertising

Kars4Kids must stop broadcasting its widely known catchy jingle in advertisements across California after a judge found that the nonprofit group violated the state’s false advertising and unfair competition laws.

Orange County Superior Court Judge Gassia Apkarian issued the May 8 ruling against Kars4Kids and its jingle featuring children dancing and singing. The decision came in a lawsuit filed by a California man who argued that the ad prominently features young children, even though some of the proceeds are directed toward programs benefiting Israel trips for elder teens.

“Money cannot ‘un-donate’ a car or restore the donor’s belief that they were helping a local, needy child,” the ruling says. “The evidence also shows that children, especially needy or underprivileged children, are not the recipients of the proceeds of the donations.”

Apkarian ruled that Kars4Kids may not use the “Kars4Kids” jingle, or any variation of it, in California unless the ads include “an explicit and audible disclosure of the organization’s religious affiliation.”

The nonprofit group, which primarily funds a Jewish nonprofit organization and accepts donations of “cars, boats, or real estate,” now has 30 days, or until June 8, to stop broadcasting in California.

Apkarian found that the ads, which have been on the airwaves for more than 20 years, violated California’s false advertising law by disseminating public statements about the disposal of property — specifically vehicle donations — that were misleading by omission.

“We believe this decision is deeply flawed, ignores the facts and misapplies the law,” Kars4Kids said in a statement to NBC News. “It’s well known that we are a Jewish organization and our website makes it abundantly clear.”

The group added that the lawsuit was “nothing more than a lawyer-driven attempt to siphon off charitable funds for their own gain,” and said it expects to prevail on appeal.

The ruling stems from an August 2021 lawsuit filed by Bruce Puterbaugh, who alleged he donated a 2001 Volvo XC earlier that year to Kars4Kids after hearing the ad “over and over” on the radio. At the time, he expected his donation, made in California, to benefit children in California.

Puterbaugh later testified that after his donation, he learned “from a neighbor that the funds were directed to a Jewish organization in New York,” according to the ruling.

“That’s not what I wanted…I feel taken advantage of by the ad and information that was not there,” Puterbaugh said, according to the ruling.

He testified that the advertisement contained “nothing about specific religious affiliation,” and that, although he called the organization’s phone number, he never visited its website. He argued that it was because he is “not a computer person.”

As part of the ruling, Kars4Kids was also ordered to pay Puterbaugh $250, the car’s estimated value. Puterbaugh’s lawyers did not respond to NBC News’ request for comment.

According to its website, Kars4Kids has facilitated the donation of more than 500,000 cars. The organization also works closely with and funds another nonprofit group, Oorah, which runs summer Orthodox camps in the tristate area and organizes annual trips to Israel for 17- and 18-year-olds.

The chief operating officer of Kars4Kids, Esti Landau, testified that Kars4Kids serves as Oorah’s primary funding source, sending approximately $45 million annually, or more than 60% of its total funds, the judge wrote. Oorah also spent $16.5 million to buy a building in Israel, the ruling says.

Neal Roberts, one of Puterbaugh’s lawyers, told NBC News that the ruling could affect charities because “it’ll make sure they clean up their act.”

“Whether they’re regular commercial entities or charitable commercial entities, they need to be clear in their advertising about what they’re doing with the funds people give them,” Roberts said.

“I think it’ll make charities wary of deceiving people, because they could be subject to lawsuits from other lawyers and the state to stop that kind of activity.”

Kars4Kids is further prohibited from using images of “prepubescent children to solicit donations that support individuals who have reached the age of majority,” the ruling says.

The judge also wrote that Landau recognized that the short 30-second ads that have been running for two decades do “not say anything” about the charity’s specific nature.

“When a charity generates millions annually through a ‘jingle’ that conceals its primary religious and geographic focus, it creates an unfair playing field for local California charities that are honest about their missions,” the ruling says.

Oorah and Landau did not respond to NBC News’ request for comment.

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ICE officer charged in Minnesota with four counts of assault after shooting Venezuelan immigrant in Minnesota

ICE officer charged in Minnesota with four counts of assault after shooting Venezuelan immigrant in Minnesota


A Minnesota prosecutor accused the ICE officer who shot a Venezuelan man of lying about this incident and was charged on Monday with assault and falsely reporting a crime. Subscribe to read the story ad free

According the authorities, ICE officers confronted Sosa Celis, a Venezuelan, and Alfredo Alejandro Aljorna during an immigration enforcement action near Sosa Celis’ home on the night Jan. 14. Authorities said Sosa-Celis had been shot in the leg. Moriarty stated that both men were present in Minnesota “lawfully,” and that this was “a case of mistaken identification.” the shooting of Julio Sosa-Celis Police officers stand in tear gas on the scene of an alleged shooting in Minneapolis, Jan. 14. Adam Gray / AP FILE

According to the original statement of the police department, the shooting took place after Sosa -Celis & Aljorna allegedly assaulted the officer using a shovel & broom. The charges against them were dismissed with prejudice when Minnesota prosecutors found that new evidence was “materially incongruent” with the accusations made against them.

The video released by the agency in February and March appeared to contradict its account. One man is shown holding a shovel, before dropping it. A second man then runs towards the home with no shovel. The officer tackles the man. In mid-February acting ICE director Todd Lyons stated that a review video evidence revealed two officers “appeared to have made untruthful statement” in sworn testimonies. Lyons stated that both officers were placed on leave administratively pending the conclusion of an investigation. He added that a joint review of video evidence by ICE (ICE) and the Department of Justice(DOJ) revealed that sworn testimonies provided by two officers appeared to have made false statements. He said that if the investigation is successful, the officers could be terminated from their jobs and face criminal prosecution. Moriarty stated at the press conference that Castro was “not under any physical threats when he fired his gun, or even before.”

Moriarty also said that Castro “wasn’t under any threat physically when he shot his weapon or even beforehand.” She stated that Castro was not even hit.

, who was a part of

, was charged with felony assault in the second degree with a dangerous weapons last month. Moriarty reported in April that Gregory Donnell Morgan Jr. had been accused of pointing a weapon at the heads of 2 civilians in a vehicle.

Image: Law enforcement officers stand amid tear gas at the scene of a reported shooting in Minneapolis
On the 5th of February, Morgan was driving in Minneapolis an SUV without any markings when he stopped next to a vehicle and “pointed the duty weapon directly at the victims while continuing illegally to drive on the shoulders” of the highway. The driver then dialed 911. She said that “for a federal agent our opinion is illegally driving on the shoulder, pulling up next to a car, and pointing a firearm at the heads two community members at the time who were not doing anything is well outside of their authority.” DHS did not respond immediately to a request for comments on the charges and allegations against Morgan. The Trump administration dispatched 3,000 federal agents from Minnesota to the end of November, for the immigration enforcement operations dubbed Metro Surge. In the midst of the crackdown on immigration, immigration authorities engaged Renee Good (37), a mother who has young children, and Alex Pretti (37), an intensive care nurse in a local Veterans Affairs facility, in separate confrontations. The killings, captured on video, sparked a nationwide outcry and massive protests. Democrats and Republican lawmakers also harshly criticized the deaths.

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Pete Hegseth supports Trump-backed candidate to Rep. Thomas Massie before Kentucky primary elections

Pete Hegseth supports Trump-backed candidate to Rep. Thomas Massie before Kentucky primary elections


Defense secretary Pete Hegseth spoke at a Monday campaign event to support the President Donald Trump-backed challenger of Rep. Thomas Massie, R-Ky., prior to Kentucky’s primaries Tuesday. Subscribe to read the story ad free

, spoke shortly before Hegseth. They have both in Donald Trump, but they also have Pete Hegseth. It is unusual for a defense secretary to attend a public event. Massie

, who led the effort to release government documents on Jeffrey Epstein was first elected to Congress back in 2012. Parnell stated that “no taxpayer dollars will be used for his visit.” His participation was thoroughly vetted and cleared with lawyers, including those at the Department of War Office of General Counsel. It does not violate federal statutes or the Hatch Act. Massie’s campaign did not respond to an inquiry for comment. In a Trump’s urging, Trump focused on his animosity against Massie rather than his support of Gallrein. Trump said he was hoping Kentucky voters would “put Massie’s business out of commission” on Tuesday.

“We are fighting the worst congressman of our history.” Trump announced from the Oval Office that Thomas Massie is from Kentucky.

The New York Times Trump described Gallrein as “a wonderful guy” and a “great patriot” in the video. But he added, “But don’t forget that.” Massie was the worst congressman to ever represent our country.

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