With nearly three in four Americans rating the economy as poor, according to a new CNN poll, the Memorial Day holiday arrives under the weight of record-low consumer sentiment and sharp increases in the price of gas, ground beef, and other staples.
National average for regular gas projected at $4.56 per gallon; rising fuel costs and inflation are prompting many Americans to reconsider travel and holiday plans.
Tamboran Resources (ASX:TBN) has drawn market attention after delivering a 56.05% one-year total shareholder return, though the stock has cooled 2% in the past month. Trading at A$0.245, the company now commands a price-to-book ratio of 2.5x — well above the industry average of 1.3x and the peer average of 1x. The premium reflects market expectations around future project delivery, but risks including a net loss of A$34.39 million and potential development delays remain front and center.
California motorists could face sustained pain at the pump this summer as the state’s fuel excise tax rises, refinery shutdowns tighten supply, and geopolitical instability roils energy markets. Starting July 1, the gasoline tax will increase by 2 cents per gallon—to 63 cents—while diesel tax edges up to 48 cents. Analysts say the tax bump alone won’t trigger a dramatic price spike, but when layered with capacity cuts and global uncertainty, the outlook is more volatile.
A new CNN/SSRS poll reveals that persistent inflation is hitting high-income households harder than expected. Fifty-seven percent of workers earning $150,000 or more report their wages are falling behind rising costs. The survey underscores widespread economic anxiety, with 88% of respondents believing they should be saving rather than spending, and nearly 70% expecting a recession within the next year.
Shares of online real estate marketplace Zillow (NASDAQ:ZG) climbed 4.5% in morning trading Wednesday, as a reported Iran peace deal sent Treasury yields tumbling and mortgage rates—the key factor that has frozen the housing market since early spring—along with them.
