Newswatch

March home sales slowed in a lethargic opening to the spring buying season

Sales of previously occupied U.S. homes slowed in March, a sluggish start to the spring homebuying season as elevated mortgage rates and rising prices discouraged many prospective home shoppers. Existing home sales fell 5.9% last month from February to a seasonally adjusted annual rate of 4.02 million units, the National Association of Realtors said Thursday. Sales fell 2.4% compared with March last year. The latest home sales fell short of the 4.12 million pace economists were expecting, according to FactSet. Home prices increased on an annual basis for the 21st consecutive month. The national median sales price rose 2.7% in March from a year earlier to $403,700.

Wall Street rises as companies keep piling up profits, for now at least

NEW YORK (AP) — U.S. stocks are rising further as better-than-expected profits for U.S. companies pile up. The S&P 500 gained 1.2% Thursday. The Dow Jones Industrial Average added 235 points, and the Nasdaq composite climbed 1.6%. ServiceNow helped drive the market higher after the AI platform company delivered a stronger profit for the start of 2025 than expected. Southwest Airlines likewise reported stronger-than-expected results, but its stock veered between gains and losses.

Germany sees the economy stagnating in 2025 as Trump’s trade policy weighs on it

BERLIN (AP) — The German government is forecasting the country’s economy, Europe’s biggest, will stagnate this year as U.S. President Donald Trump’s tariffs and trade threats weigh on its performance. The outgoing economy minister said Thursday that the government cut its 2025 outlook to zero from the modest growth of 0.3% it predicted at the end of January. For next year, it is forecasting growth of 1%, slightly lower than the 1.1% it predicted three months ago. He said that “there is above all one reason for this, namely Donald Trump’s trade policy and the effects of the trade policy on Germany.”

US filings for jobless benefits inch up as labor market remains strong despite fears of downturn

U.S. applications for jobless benefits rose modestly last week as business continue to retain workers despite fears of a possible economic downturn. Jobless claim applications inched up by 6,000 to 222,000 for the week ending April 19, the Labor Department said Thursday. That’s just barely more than the 220,000 new applications analysts forecast. Weekly applications for jobless benefits are considered a proxy for layoffs, and have mostly stayed in a healthy range between 200,000 and 250,000 for the past few years. The total number of Americans receiving unemployment benefits for the week of April 12 declined by 37,000 to 1.84 million.

Pastor calls for ‘full Target boycott’ over concerns about diversity, equity, inclusion

ATLANTA (AP) — The pastor of a Georgia megachurch who led a nationwide 40-day “fast” against Target stores is now calling for a “full Target boycott.” The Rev. Jamal Bryant said this week that the Minneapolis-based retailer has not met all of the initiative’s demands. Among them: Restoring its commitment to diversity, equity and inclusion principles and pledging money to Black-owned banks and businesses. Target announced in January that it would phase out some DEI initiatives, including a program designed to help Black employees build meaningful careers and promote Black-owned businesses. Target said it is committed to creating a welcoming environment for its workers, customers and suppliers.