Wednesday’s business headlines
INDIANAPOLIS (WISH) — Here’s a look at Wednesday’s business headlines with Jane King.
Credit card interest rates at record highs
It’s an especially expensive time for people with credit card debt, and the pain will likely only worsen with another federal reserve interest rate hike today.
The current national average rate on plastic is already more than 20%, which is the highest it has been in decades.
Job openings drop to lowest point in nearly 2 years
Job openings tumbled to the lowest point in nearly two years, according to a government report out Tuesday.
Layoffs jumped by nearly 250,000 to 1.8 million — the highest level since December 2020 — while the number of new hires was unchanged at 6.15 million. Quits ticked down to 3.85 million from 3.98 million.
Gas prices at lowest average in nearly a month
Gas prices have dropped for seven straight days, falling this week to an average of $3.58 per gallon, according to data from GasBuddy. That’s the lowest average in nearly a month.
AAA says the current average in central Indiana is $3.45 per gallon, down 11 cents from a week ago.
Experts predict record spending for Mother’s Day
Consumers are expected to go all out for Mother’s Day this year, spending a total of $35.7 billion.
The National Retail Federation says shoppers plan to spend $274 per person, the highest in the history of the survey, up from the previous record high of $245 in 2022.
Mother’s Day is Sunday, May 14.
Amazon hosting Pet Day sale Wednesday
Amazon is hosting its Pet Day sale for the second year in a row.
The sale is live now and runs all day Wednesday.
Amazon Pet Day is accessible to all shoppers regardless of Prime membership status.