Morning Business Report: Tax refunds rise, markets tumble and major retailers shift strategy
New data shows the average IRS tax refund is up nearly 11% so far this filing season.
(LILAMAX)- New data shows the average IRS tax refund is up nearly 11% so far this filing season, while global markets face renewed volatility and major retailers announce strategic changes.
According to early filing data, the average tax refund is up 10.9% compared to the same point last year. As of February 6, the average refund stood at $2,290, compared to $2,065 during the same period in 2025.
However, tax experts caution that early numbers can be misleading. Taxpayers who are owed money often file early in order to receive refunds sooner, which can temporarily inflate the average payout figures.
In housing news, new research suggests older homeowners may be leaving money on the table when selling their properties. A January research brief from the Center for Retirement Research at Boston College found that once sellers reach around age 70, they tend to receive lower sale prices compared to younger homeowners.
On a typical home priced at $405,400, a 5% lower sale price would amount to about $20,270 in lost value. Researchers say part of the gap is linked to home maintenance, noting that properties sold by older owners are more likely to show deferred upkeep or fewer upgrades, which can weigh on sale prices.
Meanwhile, Friday the 13th brought a global selloff in stocks and gold as fears surrounding artificial intelligence rattled investors. Technology stocks led the decline, pushing the broader market into negative territory for the year.
In corporate news, Wendy’s announced it will close hundreds of U.S. restaurants as part of a broader effort to boost lagging domestic sales. During the October through December quarter, the fast-food chain reported same-store sales in the U.S. declined 11.3%.
The closures are part of the company’s turnaround strategy, known as Project Fresh, which focuses on fresher ingredients and more competitive pricing.
At the same time, Dollar Tree is expanding into more affluent neighborhoods in an effort to attract higher-income shoppers. According to Bloomberg, nearly half of the company’s new store locations over the past six years have opened in wealthier metropolitan ZIP codes, up from 41% in previous years. Six-figure earners made up more than half of Dollar Tree’s new customers last quarter.
From rising refunds to shifting retail strategies and market turbulence, it’s shaping up to be a dynamic start to the year on Wall Street.
