Morning Business Report: What extreme heat is costing Americans
The Center for American Progress, a non-partisan institute, has tallied up the cost of extreme heat in the United States. In this summer alone, the country has seen 235,000 ER visits and $1 billion in healthcare bills. American Progress used insurance claims to find that total.
In other healthcare news, the FDA has approved a new Alzheimer’s drug. The new medication, called Leqembi, was made by Eisai and Biogen. In clinical trials, the drug was able to slow cognitive decline. Medicare announced it will broadly cover Leqembi for patients enrolled in the program for older Americans, though several conditions apply.
The DOW closed down 300 points after a hot jobs report.
The report increased chances of more interest rate hikes.
Mortgage News Daily says that the average rate for the popular 30-year fixed mortgage has spiked. At 7.22%, the interest rate is the highest it’s been since early November. According to a report, the U.S. is seeing the fastest increase in interest rates since the early 1980’s.
Seven Republican attorneys general claim that Target’s Pride collection contained vulgar clothing, going so far as to say that some items may violate child-protection laws. This, after Target faced threats and misleading claims concerning their Pride collection in May. Target’s stock has fallen nearly 20% since the backlash began.
