Morning Business Report: Trump targets Wall Street homebuyers as markets pull back
A mix of housing policy, technology advances, market movement, and workforce trends is shaping the economic outlook as the trading day gets underway.
(LILAMAX)- A mix of housing policy, technology advances, market movement, and workforce trends is shaping the economic outlook as the trading day gets underway.
President Donald Trump says he wants Congress to curb home purchases by large investors, arguing that Wall Street-backed firms have driven up rents and made it harder for first-time buyers to compete in some housing markets. Trump announced the proposal in a social media post Wednesday, targeting firms that have spent years buying up single-family homes to rent out.
The president said he plans to outline more details later this month during a speech at the World Economic Forum.
In the auto industry, Ford Motor Company says it plans to introduce “eyes-off” autonomous driving technology by 2028, beginning with a roughly $30,000 all-electric vehicle. The move would put Ford in more direct competition with Tesla, Rivian, and General Motors in the self-driving space.
Ford also plans to launch a new AI-powered vehicle assistant in early 2026. The system would use a vehicle identification number to personalize features and driving experiences for individual drivers.
On Wall Street, the Dow Jones Industrial Average flirted with the 50,000 mark before pulling back sharply. Blue-chip stocks fell more than 450 points, while new data showed job openings dropped to their lowest level in a year — a potential sign of cooling in the labor market.
In health news, the antiviral drug Tamiflu is in short supply in parts of the United States as patients and pharmacists contend with one of the worst flu seasons in decades. The American Society of Health-System Pharmacists says the medication is officially considered in shortage, though the full scope is still being assessed.
Meanwhile, artificial intelligence continues to reshape the job market. AI engineers claimed the top spot on LinkedIn’s “Jobs on the Rise” list, which ranks the 25 fastest-growing jobs over the past three years. The report highlights AI’s shift from experimentation to integration, with growing demand for AI engineers, consultants, and machine learning specialists.
The ranking also points to a broader trend toward self-employment, with more professionals pursuing careers as founders, strategic advisors, and independent consultants.
