Morning Business Report: Trade talks, housing woes

Treasury Secretary Scott Bessent called the weekend trade talks between the U.S. and China in Geneva “productive."

(LILIAMAX)- Treasury Secretary Scott Bessent called the weekend trade talks between the U.S. and China in Geneva “productive,” signaling a potential easing of tensions in the prolonged trade war. While specific details of the agreement remain under wraps, Bessent says a full briefing will be given today. Economists say any signs of de-escalation could bring long-awaited relief to the global economy.

The traditionally busy spring home sales season is turning out to be a disappointment. Realtors report rising inventory levels but sluggish buyer interest. Economic uncertainty and mortgage rates hovering around 6.75% are keeping many potential homebuyers on the sidelines, even as home prices drop in some areas.

Stocks ended lower on Friday as investors nervously awaited news from the China trade talks. Markets are hoping for swift agreements to help restore confidence and stability.

A new Gallup poll on workforce trends reveals that fully remote workers report higher engagement levels than their hybrid or on-site peers — 31% of remote workers say they feel enthusiastic about their work, compared to 23% of others. However, remote employees also report more negative emotions and are less likely to say they’re thriving in life overall, with only 36% saying they feel they are doing well.

The Federal Trade Commission is delaying a new rule that would require companies to make canceling subscriptions as easy as signing up for them. Originally set to take effect on May 14, the rule will now be enforced starting July 14. The move follows pushback from business groups and praise from consumer advocates.