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NEW YORK (AP) — Small businesses that depend on outdoor crowds and free-spending tourists aren’t sure what to expect this summer. Consumers likely have a lot of pent-up demand after more than two years of the pandemic. The U.S. Travel Association predicts travel spending will be slightly above pre-pandemic levels. But consumers are also facing some significant financial headwinds.

NEW YORK (AP) — U.S. futures slipped Friday after the government reported that inflation surged 8.6% last month, more than analysts were expecting. Futures for the Dow Jones industrials slid 1% and futures for the S&P 500 skidded 1.2% after the government released its consumer price index report. U.S. benchmarks are headed for their eighth week of losses in the past nine weeks.

NEW YORK (AP) — Stocks on Wall Street tumbled Thursday following the latest reminder that central banks now care more about fighting inflation than propping up markets. The S&P 500 dropped 2.4%, putting it on track for its ninth losing week in the last 10.

DETROIT (AP) — Teslas with partially automated driving systems are a step closer to being recalled after the U.S. elevated its investigation into a series of collisions with emergency vehicles or trucks with warning signs. The National Highway Traffic Safety Administration says Thursday that it's upgrading the probe to an engineering analysis, another sign of increased scrutiny of the electric vehicle maker and automated systems that perform at least some driving tasks.

WASHINGTON (AP) — Average long-term U.S. mortgage rates jumped back up ahead of next week’s Federal Reserve meeting where it’s expected to announce another increase to its main borrowing rate. Mortgage buyer Freddie Mac reported Thursday that the 30-year rate jumped to 5.23% this week from 5.09% last week.

WASHINGTON (AP) — More Americans applied for jobless aid last week but the total number of Americans collecting unemployment remains at a five-decade low. Applications for unemployment benefits rose by 27,000 to 229,000 for the week ending June 4, the most since mid-January, the Labor Department reported Thursday.

AMSTERDAM (AP) — The European Central Bank said it would carry out its first interest rate increase in 11 years next month, followed by another hike in September. The bank made the surprise move Thursday, saying that inflation had become a “major challenge” and that those forces had “broadened and intensified.”

NEW YORK (AP) — U.S. markets appear to be heading for gains Thursday with European Central Bank announcing its first interest rate hike in 11 years. The bank will make two quarter-point increases, with the second arriving in September. The surprise decision is in reaction to inflation that has become a “major challenge,” with the central bank believing that forces pushing costs higher had “broadened and intensified.”

NEW YORK (AP) — Stocks fell broadly on Wall Street Wednesday, erasing most of their gains for the week, as investors were discouraged to see more evidence of inflation’s impact on businesses and another gloomy outlook on the global economy.

ENGLEWOOD, Colo. (AP) — The Denver Broncos have entered into a sale agreement with the Walton-Penner ownership group. The buyers are led by Walmart heir Rob Walton, his daughter, Carrie Walton Penner, and her husband, Greg Penner. Although terms of the sale weren't disclosed late Tuesday night, the winning bid was reportedly for $4.65 billion. That's by far the most expensive deal for a sports franchise anywhere in the world.

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