Poll: Voters feel the economy is a vital issue in the upcoming election
INDIANAPOLIS (WISH) — Here is a look at Friday’s business headlines that includes new data about the presidential election, Walgreens store closures, Independence Day expenses and more.
Nearly half of voters say the economy is a key election issue
According to a News Nation and Decision Desk poll, 40% of voters believe the economy is the most important issue in the presidential election.
Historically, election years have been good for the US stock market and the S&P 500 has risen in almost every election year since 1960.
There’s one thing that’s for sure, markets dislike uncertainty, and we are facing a lot of that related to interest rates, tensions overseas and inflation
Walgreens to close ‘significant’ number of stores
Walgreens will close a considerable number of stores. Sales have slipped with Walgreens saying it’s a very tough retail environment and the company is losing sales to Amazon, Costco and Walmart.
Walgreens has now lost 80% of its value in under five years. Walgreens has not announced which stores it will be closing. It’s America’s largest pharmacy chain with over 8,500 stores and more than 300,000 employees.
Survey: 4th of July BBQ will cost more
A traditional Independence Day barbecue for 10 people will cost $71.22 this year, on average, up 5% from 2023 and 30% from 2019, according to an American Farm Bureau Federation.
Beef and lemonade prices have risen significantly, however those for chicken breast and potato salad are down.
In Indiana the average costs of a Fourth of July barbecue will be $68.33, which is a 2% decrease from the previous year.
Wells Fargo analysts say while food generally won’t be cheaper at the grocery store, you’re not seeing these huge jumps in prices you saw in the last year or two.
Mortgage rates fall again
The national average on the 30-year fixed-rate mortgage fell to 6.86%, according to Freddie Mac.
Rates have declined for four consecutive weeks and are at the lowest since April.
Despite the drop-in rates, the housing market has been sluggish as many houses were refinanced at rock bottom rates a few years ago and don’t want to sell.
Taco Bell adds value meal
Taco Bell is the latest fast-food chain to add a value meal to its menu, it’s called the Luxe Cravings Box.
For $7 customers can get a chalupa supreme, beefy 5-layer burrito, double stacked taco, chips and nacho cheese sauce, and a medium drink for a limited time.
The deal, which the company said is a 55% discount off suggested menu prices, comes just after Burger King, Wendy’s and McDonald’s launched their own meal deals.