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Stocks stumble 2.8% as worries about interest rates worsen
Read full article: Stocks stumble 2.8% as worries about interest rates worsenStocks slumped on Wall Street Friday, leaving the S&P 500 with its biggest one-day loss in almost seven weeks, as worries deepen about a surge in interest rates and the U.S. central bank's efforts to fight inflation.
Consumer spending dipped 1% as winter storms raked the US
Read full article: Consumer spending dipped 1% as winter storms raked the US(AP Photo/Steven Senne)WASHINGTON – Consumers spending and personal incomes both fell sharply in February as severe winter storms disrupted shopping in many parts of the country and the government wrapped up distribution of $600 relief payments. Consumer spending fell 1% last month, the Commerce Department reported Friday, the biggest drop since last April when spending tumbled 12.4% as the country was broadsided by the global pandemic. Consumer spending, which is closely watched because it accounts for 70% of economic activity, jumped 3.4% in January. Personal incomes, which provide the fuel for future spending, surged 10.1% the same month as the U.S. doled out $600 checks. The government reported that personal savings totaled a sizable $2.41 trillion with the saving rate, saving as a percentage of after-tax income, at 13.6%.
Gap Sale: Take Up to 75% Off Everything
Read full article: Gap Sale: Take Up to 75% Off EverythingThe Gap sale continues! Take up to 75% off your purchase (prices as marked) and an extra 10% off sale styles with code TREAT. Get the sale discounts on Gap favorites including denim, t-shirts, dresses, leggings, accessories and more. Ahead, ET Style's cute and cozy picks from the Gap sale. RELATED CONTENT:Revolve Sale: Take Up to 30% Off DressesKate Spade Mother's Day Sale: Take 50% Off Select Items and 30% Off Full-Priced PurchasesShoebacca Sale: Shop New Sale Shoe Styles From Puma, Keds and More
Athleta Sale: Buy More, Save More
Read full article: Athleta Sale: Buy More, Save MoreAthleta, sister brand of the Gap, Old Navy and Banana Republic, is having a buy more, save more sale. Get $25 off when you spend $150 and $50 off when you spend $250. You'll also find great Athleta deals on hoodies, jackets, sweaters, swimwear, joggers and more in the sale section of the website. The brand has stylish activewear and performance apparel for women, including tops, yoga pants, Athleta leggings, sports bras, sweatshirts and more. Keep up with your active lifestyle when you can in new workout clothes by shopping ET Style's favorite picks from Athleta apparel, ahead.
Gap stocks soar 36% after announcement the brand will sell Kanye Wests Yeezy line
Read full article: Gap stocks soar 36% after announcement the brand will sell Kanye Wests Yeezy lineNow, almost three decades and 140 million record sales later, West could help his old employer survive. Gap announced Friday that it will partner with Yeezy, West's fashion brand, for a new clothing line that will be introduced in the first half of 2021. The Yeezy Gap line will include "modern, elevated basics for men, women and kids at accessible price points." About 90% of the company's 3,900 global stores, which include Old Navy and Banana Republic brands, were temporarily closed starting March 19. He became the first non-athlete to launch a full collaboration with Nike for the original Air Yeezy sneakers in 2009, and the brands sneakers often go for several hundred dollars.