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⚾️ The economy’s throwing us curveballs

Consumer confidence is tanking, business activity is stalling, and the housing market’s cooling off.

📸 Market snapshot

📰 Today’s top news

😟 1. People are feelin’ gloomy about spending
A survey from the University of Michigan shows that in February, people’s confidence about the economy dropped to its lowest point since late 2023 — it’s now at 64.7.

They’re worried about new taxes on imports (called tariffs) and prices going up.

When folks feel this way, they stop buying extras like new TVs or fancy dinners, and stick to just the basics.

That’s bad news for stores and businesses that need us to spend money to keep going.

So, if people spend less, businesses might cut jobs or raises to save money.

That could mean less in your pocket if you’re working, or lower returns if you’ve got money in stocks.

Plus, if prices keep climbing, your grocery and gas bills could get pricier.

🏭 2. Businesses are slowin’ down big time
According to S&P Global, U.S. businesses are moving at a DMV pace — the slowest in 17 months as of February.

The service industry, like restaurants and banks, even shrank a bit for the first time in over two years.

Companies are nervous about tariffs and possible government budget cuts, so they’re jacking up prices and holding off on big plans.

So, when businesses slow down, they hire fewer people and might even let some go.

If you’re retired, this could shrink the value of your investments tied to companies, like in your 401(k) or IRA.

Higher prices from businesses passing on costs also mean your dollars won’t stretch as far at the store.

🏡 Fewer people are buyin’ homes
In January, sales of existing homes fell 4.9%, down to 4.08 million homes sold per year.

High mortgage rates (what you pay to borrow for a house) and expensive home prices are keeping buyers away — meaning, it’s harder for people to afford their dream home right now.

So, if you own a home, a slower market might mean it’s worth less if you try to sell.

If you’re thinking of downsizing or moving, high mortgage rates could make your next place cost more each month. And if fewer homes sell, construction jobs and related businesses take a hit, which can ripple out and affect the whole economy — including your savings or pension.

🔑 Key takeaways:

• People are holdin’ on to their money: Folks are nervous and not spending as much, which could make the economy grow slower.

• Businesses are worried: Companies are dealing with higher costs and unsure times, so they might raise prices on things you buy.

• Homes are harder to buy: Houses cost a lot and loans are expensive, so fewer people are buying homes right now.

📑 Glossary