Wednesday's business headlines

INDIANAPOLIS (WISH) — Here’s a look at Wednesday’s business headlines with Jane King.

Walmart reports higher sales amid record inflation

Walmart says sales are up as richer Americans look for food deals.

The retail chain is a bellwether of consumer spending, particularly on groceries, which account for more than half of its sales.

Recent surveys signal a possible shift in attitudes about America’s tipping culture.

One survey, from restaurant tech company Popmenu, found a decline in the percentage of consumers who say they tip 20% or more in restaurants.

Another survey, from PlayUSA, found that 60% of Americans say they would like to do away with tipping altogether.

Many Americans reported tipping less due to rising costs.

A study from the Federal Reserve says rising mortgage rates could tank home prices by 20%.

The Fed believes that as interest rates rise to 7%, Americans will have to look for lower-priced homes.

A record 104,000 Americans missed work in October due to “childcare problems,” according to data from the US. Bureau of Labor Statistics.

The record figure was driven by many children falling sick COVID-19, the flu, or RSV.

Missing work could have serious financial impacts on workers who don’t have paid sick leave.

Sam’s club has undercut Costco with its $1.38 hot dog and soda combo.

That’s 12 cents less than Costco’s popular dog and soda deal.