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The Rise of the Frugal Rich – WSJ

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Skimp on Yogurt, Splurge on Skydiving: The Rise of the Frugal Rich – WSJ

Well-heeled shoppers love a deal.?

Americans with six-figure salaries are increasingly visiting Walmart for prebiotic soda and Dollar Tree for wrapping paper. They are buying $1 boxes of pasta at discount grocer Lidl and cheese at Aldi.

The shift down-market is driven by the fact that even the financially comfortable are acutely aware of how much more expensive everything is today. Discounters are successfully appealing to these sticker-shocked customers through improved digital offerings and aggressive expansions into well-off neighborhoods.

S&P 500 Ticks Higher as Bank Earnings Show U.S. Economy Holding Up

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Stock Market Today: S&P 500 Ticks Higher as Bank Earnings Show U.S. Economy Holding Up

Surging tech stocks carried the S&P 500 and Nasdaq composite to new records on Wednesday, a milestone in major indexes’ rebound from war-fueled losses.

The S&P 500 closed above 7000 for the first time and hit its first closing high since January. The Nasdaq composite surged 1.6%, notching its first record since October and its 11th consecutive gain. The Dow pared losses, trading 0.1% lower.

Investors took in more positive signs on the state of the U.S. economy. Bank of America this morning said consumer spending held up despite a turbulent start to the year and rising prices at the pump, adding to a chorus of big lenders seeing resilience in the American economy.

Inflation Soared to 3.3% in March, Driven by Higher Gasoline Costs – WSJ

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Inflation Soared to 3.3% in March, Driven by Higher Gasoline Costs – WSJ

Consumer prices soared in March, pushed higher by skyrocketing gasoline prices. The numbers

Consumer prices were up 3.3% in March from a year earlier, the Labor Department said Friday, much hotter than February’s gain of 2.4%.

It was the highest reading in two years. But it was also in line with the expectations of economists surveyed by The Wall Street Journal. Inflation Soared to 3.3% in March, Putting the Fed in a Tight Spot You may also like Your browser does not support HTML5 video.

Consumer Spending, Engine of the U.S. Economy, Is Under Strain – The New York Times

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Consumer Spending, Engine of the U.S. Economy, Is Under Strain – The New York Times

Angie Howard lives in a walkable neighborhood in Portland, Ore., and works from home, so she has not had to shell out for higher gas prices since the war in the Middle East began. Still, Ms. Howard, who lives alone, said she had noticed costs jumping all around her anyway. “You go into the grocery store, you buy the things you normally would, and then all of a sudden it’s $20 or $30 more there, and you start to see additional fuel charges,” she said. “And at the end of the week, where you would normally have two nickels to rub together, now they’re not there.”