Companies with no business plan, no profit, and no revenue are flooding Wall Street. They're called SPACs, and investors are pouring money into them. WSJ's Maureen Farrell explains the forces behind the market's SPAC boom and what it could mean for investors.
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The Shell Companies Taking Over Wall Street

The most important stories about money, business and power. Hosted by Kate Linebaugh and Ryan Knutson, with Jessica Mendoza. The Journal is a co-production of Spotify and The Wall Street Journal.

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It’s not just the cost of buying a home that’s going up. It’s also the hidden costs — like taxes, maintenance and insurance — that are going through the roof. WSJ’s Nicole Friedman explains why these prices are rising so fast, and what it means for the housing market.



Further Listening:

-'It's on Fire': Why the Housing Market Is Booming 



Further Reading:

-The Hidden Costs of Homeownership Are Skyrocketing 

-Home Buyers Are Ready to Buy. But Sellers Aren’t Selling. 

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Think It’s Expensive to Buy a Home? Try Owning One.

Yesterday, Federal Reserve Chair Jerome Powell called into question whether the Fed will be able to lower interest rates this year as hoped. WSJ’s Nick Timiraos on how the Fed’s outlook on the economy has changed. 



Further Reading: 

- Powell Dials Back Expectations on Rate Cuts 

- Fed Rate Cuts Are Now a Matter of If, Not Just When 



Further Listening: 

- Janet Yellen on Inflation and the U.S. Economy 

- Inflation Is Down. Unemployment Is Low. Is This a Soft Landing? 

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Why the Fed Is Steering Away From Rate Cuts

Cities such as San Francisco and Chicago are trying to save their downtown office districts from spiraling into a doom loop. St. Louis is already trapped in one, with abandoned buildings, vacant offices and shuttered shops and restaurants. WSJ’s Konrad Putzier unpacks the lessons from downtown St. Louis’s doom loop.



Further Reading: 

-The Real Estate Nightmare Unfolding in Downtown St. Louis 

-Commercial Real-Estate Woes Run Deeper Than in Past Downturns 

-Can San Francisco Save Itself From the Doom Loop? 



Further Listening:

-The Downfall of a Real Estate Empire 

-What’s Keeping Zombie Malls Alive? 

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Many Cities Fear the ‘Doom Loop.’ St. Louis is in One.

SpaceX’s satellite-internet devices are ending up in the hands of American adversaries and accused war criminals. WSJ’s Thomas Grove and Micah Maidenberg explain how the technology is being used illegally in multiple conflicts around the world.  



Further Listening:

- Amazon Takes On SpaceX in Battle for Space Internet 

- When Elon Musk Moves In Next Door 



Further Reading:

- The Black Market That Delivers Elon Musk’s Starlink to U.S. Foes 



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The Russian Military is Using Elon Musk’s Starlink

Caitlin Clark has lifted women’s college basketball to new heights, setting records on and off the court. Now the Iowa superstar is going pro and joining the WNBA. WSJ’s Rachel Bachman on what Caitlin Clark’s huge popularity might mean for the sometimes-struggling women’s league. 



Further Reading: 

- Caitlin Clark Drew 18.7 Million Viewers to Women’s Basketball. Will It Last? 

- Before Caitlin Clark Dominated Women’s Basketball, She Dominated These Boys 



Further Listening: 

- The TikTok That Changed College Hoops 

- The Kiss Rocking Women’s Soccer 



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The Shell Companies Taking Over Wall Street

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