Housing starts worse than the late 1990s

In theory, high housing prices in the US should be stimulating a ton of new home construction. But it ain’t happening. In fact, just released March numbers showed the biggest monthly drop since Covid hit in 2020.

What’s the deal? Well, housing is a pretty interest-rate sensitive industry. The high rates the Fed put in place to clamp down on inflation have driven up mortgage rates. Housing is also hard to build, with some arguing that exclusionary zoning is a big part of the problem.

The lack of supply, high mortgage costs, and price spike that occurred during the pandemic means housing is the most unaffordable it’s been in decades.

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Luke Kawa

Broadcom tumbles despite top- and bottom-line beat on dearth of new major customers

CEO Hock Tan revealed that Anthropic is the $10 billion mystery customer announced last quarter, and that the company has since secured a fifth major customer for AI chips.

Tasha Matsumoto

S&P 500 closes at a new all-time high despite a slide in AI stocks

It was the 37th record closing high of 2025 for the benchmark index.

Chicago Bulls Dennis Rodman (91), Scottie Pippen (33) and Michael Jordan (23) during game vs Miami Heat. Miami, FL 2/23/1996

J. Edward Moreno

DoorDash, Uber sue NYC over tipping law

According to data from the city, New Yorkers are paying higher fees and tipping less.

Third Party Food Delivery Prices Continue To Rise

Max Knoblauch4h

Budget airline stocks dip as Spirit pilots ratify contract that’ll help the carrier stay afloat

Low-cost airlines JetBlue and Frontier are trading lower on Thursday following the news that Spirit Airlines pilots ratified modifications to their labor contract that will lower costs for the carrier, which filed for bankruptcy in August.

According to the Air Line Pilots Association, Spirit pilots approved a deal that included “temporary reductions to pay rates and retirement contributions.” Beginning January 1, hourly pay will be reduced 8% and retirement contributions will drop by half, from 16% to 8%.

“Spirit pilots made a difficult choice that provides the Company with what it needs from labor to secure financing and complete its restructuring,” said Captain Ryan P. Muller, chairman of the Spirit Airlines Master Executive Council.

Wall Street sees JetBlue and Frontier as the biggest beneficiaries to Spirit’s woes, and both carriers have attempted to purchase Spirit in recent years.

Matt Phillips4h

Planet Labs rips on strong earnings report

Satellite services company Planet Labs was on track for a new record closing high after rising more than 35% in early afternoon trading on Thursday.

The roughly $5 billion company posted better-than-expected quarterly results and guided toward higher-than-expected sales for the current quarter after the close of trading Wednesday.

“AI continues to be a major tailwind as the company is seeing significant demand through enhanced capabilities for its advanced satellite data solutions,” wrote Wedbush Securities tech analyst Dan Ives, adding, “We continue to believe the PL is well-positioned at the intersection of Space and AI.” He has an “outperform” — basically a “buy” — rating and a price target of $20 on the stock.

Other satellite services AST SpaceMobile and Rocket Lab also enjoyed a bump on Thursday, seemingly riding the momentum of Planet Labs’ numbers.

Planet Labs Stock Soars After Earnings Report. Why Shares Are Headed to the Moon.

Other satellite services AST SpaceMobile and Rocket Lab also enjoyed a bump on Thursday, seemingly riding the momentum of Planet Labs’ numbers.

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