Louisiana and nine other states have filed a lawsuit against the federal government to block sharp increases in national flood insurance rates that are slated to be phased in over the coming years, saying the steeper price could cost some people their homes. Dozens of local Louisiana governments and flood control districts also are plaintiffs in the lawsuit. The Department of Homeland Security and FEMA are among the defendants.
If estimates prove true, we plan to splurge big on dad this year. The National Retail Federation says consumers are projected to spend a record $22.9 billion for Father’s Day – averaging $196.23 per consumer. The most popular Father’s Day gifts are greeting cards, clothing, dinner or brunch, gift cards and personal care items. A record 42% will buy a product subscription box, and 29% will buy experience gifts.
Futures are rallying after stocks closed higher yesterday. The Dow Industrials gained 153, the Nasdaq added a sharp 165 and the S&P 500 was up 41.