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Americans are about to see the biggest increase in their home heating bills in more than 10 years, and it's not just because of inflation. A new report from the National Energy Assistance Directors Association (NEADA), which represents the state directors of the Low Income Home Energy Assistance Program (LIHEAP), projects a 17.2% jump in average home heating costs this winter compared to last year, and a 42% jump in the cost of household electricity compared to the winter just before the pandemic hit. The latest increase is the result of sky-high summer temperatures that sent the price of natural gas soaring as some customers cranked up their air conditioners to cool their homes, according to NEADA executive director Mark Wolfe. That spike in demand pushed prices higher, and was exacerbated by the retirement of coal-fired and nuclear plants, in favor of electric generators. Meanwhile, natural gas production has been slow to come back online after waves of shutdowns during the Covi...

In this article COIN BBBY FL DE VIDEO 0:51 00:51 Markets point to lower open, S&P 500 on track to snap 4-week winning streak Morning Report Check out the companies making headlines before the bell: Deere (DE) – Deere slid 5.2% in premarket trading after the heavy equipment maker missed quarterly earnings estimates despite higher-than -expected sales . Deere earned $6.16 per share, below the consensus estimate of $6.69, as it successfully implemented price hikes but also faced higher costs . The company also cut its full-year forecast. Foot Locker (FL) – Foot Locker surged 17.4% in the premarket after the athletic footwear and apparel retailer's quarterly earnings beat analyst forecasts, and the company also announced a CEO transition. Former Ulta Beauty (ULTA) CEO Mary Dillon will replace Richard Johnson as CEO on Sept. 1. Bed Bath & Beyond (BBBY) – Bed Bath & Beyond plunged 42.7% in premarket trading following news that investor Ryan Cohen had sold his entire stake in ...

Builder sentiment in the market for single-family homes fell into negative territory in August, as builders and buyers struggle with higher costs. The National Association of Home Builders/Wells Fargo Housing Market Index dropped 6 points to 49 this month, its eighth straight monthly decline. Anything above 50 is considered positive. The index has not been in negative territory since a very brief plunge at the start of the Covid pandemic. Before that, it hadn’t been negative since June 2014. “Tighter monetary policy from the Federal Reserve and persistently elevated construction costs have brought on a housing recession,” said NAHB Chief Economist Robert Dietz. Of the index’s three components, current sales conditions dropped 7 points to 57, sales expectations in the next six months fell 2 points to 47 and buyer traffic fell 5 points to 32. Housing shortage seeping into the Midwest and South Aug. 6, 2022 02:28 Despite higher costs for land, labor and materials, about 1 in 5 builders i...