Consumer spending news
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Retail earnings
Victoria’s Secret shares jump 40% after earnings beat and raised outlook
The lingerie retailer lifted its full-year forecast after stronger sales, fewer promotions and lower expected tariff costs in its fiscal first quarter
Energy costs
Gas hits $4.55 a gallon as Iran war pressures consumers
The national average is up more than 50% since the war began, while companies are also dealing with higher aluminum costs tied to Middle East disruptions
Earnings
Starbucks lifts outlook after stronger traffic, sales growth
The coffee chain reported a second straight quarter of traffic gains and said higher gas prices have not yet changed customer behavior