This Week in Money (May 29, 2026)
- May 29
- 2 min read
Here are a few of the stories in money you may have missed this past week.
Wall Street extended its historic record run on Friday, with the S&P 500 up 0.2%, Dow up 0.7%, and Nasdaq +0.2% all closing at all-time highs. The S&P 500 locked in its fourth consecutive daily record and ninth straight winning week, marking its longest weekly streak since 2023. This explosive momentum was driven entirely by mega-cap technology stocks, which surged over 15% in May and single-handedly carried the broader market while most other sectors lost ground.
Redesigning the Block
Behavioral science practitioner Noble Gwyn explains that historically Black commercial corridors frequently suffer from outside economic extraction due to systemic gaps in capital access.
However, simply supporting Black-owned businesses is not a complete fix, as many local entrepreneurs face high overhead costs that force them to price out the very residents they intend to serve.
Knicks Finals Fever Sends Ticket Prices Into Luxury Territory
The New York Knicks’ first NBA Finals appearance since 1999 has triggered an extreme surge in ticket prices at Madison Square Garden. Secondary-market listings show entry-level seats for home games starting well above $3,000, with some games climbing toward $5,000 or more just to get in the door.
The spike underscores how scarcity, playoff hype, and a long championship drought have turned Knicks Finals tickets into one of the most expensive events in sports history.
The Spring 2026 Housing Reset
U.S. home sellers heading into spring 2026 are increasingly moving away from repeated price cuts and instead listing homes at more realistic, market-aligned prices from the start. Five major metros are driving much of the shift in pricing behavior.
According to Realtor.com data, the share of listings with price reductions has generally eased compared to last year, even though overall inventory remains higher, and homes are still taking longer to sell.
The shift is psychological as much as financial: sellers are learning that overpricing and relying on later discounts often backfires, while correctly priced homes attract more attention in the critical first days on market.
Used Cars Finally Normalize
The Edmunds Q1 2026 report shows the used-car market continuing to cool from the pandemic-era price spikes, with vehicle values steadily moving back toward historical depreciation patterns. Three-year-old cars are now retaining about 66% of their original MSRP, signaling that prices are becoming more reasonable for buyers after years of inflated resale values.
Crypto ATM Crackdown
U.S. regulators are intensifying efforts to crack down on crypto ATMs as they become a major tool for fraud. About 80% of the world’s nearly 30,000 crypto ATMs are in the U.S. Authorities say scammers increasingly use these kiosks to trick victims into depositing cash that is instantly converted into cryptocurrency and sent to wallets controlled by criminals.
The New Economics of Airline Travel
Major U.S. airlines and airports are aggressively increasing revenue through higher baggage fees, seat selection charges, and elevated prices for essentials, with airline baggage fees hitting a record $7.3 billion in 2024. Carriers like Delta have eliminated free services on short flights, while airports maintain high markups, transforming travel into a heavily monetized experience.
Until next week - stay informed, stay intentional.
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