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The S&P 500 ($SPX) just logged its fifth straight trading box breakout, which means that, of the five trading ranges the index has experienced since the April lows, all have been resolved to the upside.

How much longer can this last? That’s been the biggest question since the massive April 9 rally. Instead of assuming the market is due to roll over, it’s been more productive to track price action and watch for potential changes along the way. So far, drawdowns have been minimal, and breakouts keep occurring. Nothing in the price action hints at a lasting change — yet.

While some are calling this rally “historic,” we have a recent precedent. Recall that from late 2023 through early 2024, the index had a strong start and gave way to a consistent, steady trend.

From late October 2023 through March 2024, the S&P 500 logged seven consecutive trading box breakouts. That streak finally paused with a pullback from late March to early April, which, as we now know, was only a temporary hiccup. Once the bid returned, the S&P 500 went right back to carving new boxes and climbing higher.

New 52-Week Highs Finally Picking Up

If there’s been one gripe about this rally, it’s that the number of new highs within the index has lagged. As we’ve discussed before, among all the internal breadth indicators available, new highs almost always lag — that’s normal. What we really want to see is whether the number of new highs begins to exceed prior peaks as the market continues to rise, which it has, as shown by the blue line in the chart below.

As of Wednesday’s close, 100 S&P 500 stocks were either at new 52-week highs or within 3% of them. That’s a strong base. We expect this number to continue rising as the market climbs, especially if positive earnings reactions persist across sectors.

Even when we get that first day with 100+ S&P 500 stocks making new 52-week highs, though, it might not be the best time to initiate new longs.

The above chart shows that much needs to align for that many stocks to peak in unison, which has historically led to at least a short-term consolidation, if not deeper pullbacks — as highlighted in yellow. Every time is different, of course, but this is something to keep an eye on in the coming weeks.

Trend Check: GoNoGo Still “Go”

The GoNoGo Trend remains in bullish mode, with the recent countertrend signals having yet to trigger a greater pullback.

Active Bullish Patterns

We still have two live bullish upside targets of 6,555 and 6,745, which could be with us for a while going forward. For the S&P 500 to get there, it will need to form new, smaller versions of the trading boxes.

Failed Bearish Patterns

In the chart below, you can view a rising wedge pattern on the recent price action, the third since April. The prior two wedges broke down briefly and did not lead to a major downturn. The largest pullbacks in each case occurred after the S&P 500 dipped below the lower trendline of the pattern.

The deepest drawdown so far is 3.5%, which is not exactly a game-changer. Without downside follow-through, a classic bearish pattern simply can’t be formed, let alone be broken down from.

We’ll continue to monitor these formations as they develop because, at some point, that will change.

Bed Bath & Beyond is back — kind of.

The bankrupt home goods chain is being resurrected by the owners and licensees of its intellectual property, which opened the first new Bed Bath & Beyond store in Nashville, Tennessee, on Friday with potentially dozens of more to come.

This time around, the store has a new name — Bed Bath & Beyond Home — and marks a “fresh start” for the beloved brand, said Amy Sullivan, the CEO of The Brand House Collective, the store’s operator.

“We’re proud to reintroduce one of retail’s most iconic names with the launch of Bed Bath & Beyond Home, beautifully reimagined for how families gather at home today,” Sullivan said in a news release. “With Bed Bath & Beyond Home we’re delivering on our mission to offer great brands, for any budget, in every room. It’s a powerful addition to our portfolio and a meaningful step forward in our transformation.”

In honor of the brand’s legacy, the new store will accept the brand’s famous 20% coupon, regardless of when it expired.

“We encourage guests to bring in their legacy Bed Bath & Beyond coupons which we will gladly honor,” the company said in a news release. “The coupon we all know and love is back and for those who need one, a fresh version will be waiting at the door.”

Bed Bath and Beyond 2.0 has been several years in the making and involved a rigmarole of corporate acquisitions and rebrandings. When the original Bed Bath and Beyond filed for bankruptcy in April 2023 following a string of corporate missteps, it struggled to find a buyer and ended up liquidating and selling off its business in parts. Overstock.com later bought the brand’s intellectual property, rebranded its business to Beyond Inc. and launched an online-only version of Bed Bath and Beyond.

What followed from there was a dizzying array of corporate deal-making. Ultimately, Beyond took an ownership stake in Kirkland’s Inc., a home decor chain with around 300 stores across the U.S., and gave it the exclusive license to develop and create Bed Bath & Beyond Home stores, as well as Buy Buy Baby stores.

Kirkland’s later rebranded to The Brand House Collective and plans to convert some of its existing Kirkland’s Home stores into more Bed Bath and Beyond shops. Friday’s launch in Nashville is the first of six planned for the market and, pending the results, it plans to convert around 75 additional stores through 2026.

The company said it chose Nashville for the launch because of its proximity to its corporate headquarters, which will allow it to “closely manage every detail and set the standard for future rollouts.”

While the relaunch is exciting for fans of the legacy brand, it comes at a difficult time for the home decor market. In many ways, Bed Bath & Beyond’s bankruptcy was the fault of its management team and execution missteps, but it also faced macro challenges as well, experts said at the time. Competition from players like Amazon, Walmart, Home Goods and Wayfair has made it harder for other brands to capture customer spend, and the overall sector has been soft for several years because of high interest rates and the sluggish housing market.

Even the current leaders in the home decor space have seen soft trends and it’s unlikely that will change until interest rates fall and the housing market picks back up, some analysts have said.

This post appeared first on NBC NEWS

Elon Musk on Monday threatened Apple with legal action over alleged antitrust violations related to rankings of the Grok AI chatbot app, which is owned by his artificial intelligence startup xAI.

“Apple is behaving in a manner that makes it impossible for any AI company besides OpenAI to reach #1 in the App Store, which is an unequivocal antitrust violation. xAI will take immediate legal action,” Musk wrote in a post on his social media platform X.

Apple declined to comment on Musk’s threat.

“Why do you refuse to put either X or Grok in your ‘Must Have’ section when X is the #1 news app in the world and Grok is #5 among all apps? Are you playing politics?” Musk said in another post.

Apple last year partnered with OpenAI to integrate its ChatGPT chatbot into iPhone, iPad, Mac laptop and desktop products. Musk at the time said: “If Apple integrates OpenAI at the OS level, then Apple devices will be banned at my companies. That is an unacceptable security violation.”

Prior to his legal threats against Apple, Musk had celebrated Grok surpassing Google as the fifth top free app on the App Store. When contacted by CNBC, xAI did not immediately respond to a request for further information on a potential lawsuit.

CNBC confirmed that ChatGPT was ranked No. 1 in the top free apps section of the American iOS store, and was the only AI chatbot in Apple’s “Must-Have Apps” section. The App Store also featured a link to download OpenAI’s new flagship AI model, ChatGPT-5 at the top of its “Apps” section.

OpenAI on Thursday announced GPT-5, its latest and most advanced large-scale AI model, following xAI’s release of its newest chatbot, Grok 4, last month.

Musk has an ongoing feud with ChatGPT maker OpenAI, which he co-founded in 2015. The billionaire stepped down from its board in 2018, four years after saying that AI was “potentially more dangerous than nukes.”

He is now suing the Microsoft-backed startup, and its CEO Sam Altman, alleging they abandoned OpenAI’s founding mission to develop artificial intelligence “for the benefit of humanity broadly.”

Robert Keele, who headed the legal department at xAI, announced last week that he had left the company to spend more time with his family. In his announcement, Keele also acknowledged “daylight between our worldviews,” referring to Musk.

In response to Musk’s antitrust threats against Apple, OpenAI CEO Sam Altman said in an X post: “This is a remarkable claim given what I have heard alleged that Elon does to manipulate X to benefit himself and his own companies and harm his competitors and people he doesn’t like.”

This is not the first time Apple has been challenged on antitrust grounds. In a landmark case, the Department of Justice last year sued the company over charges of running an iPhone ecosystem monopoly.

In June, a panel of judges also denied an emergency application from Apple to halt the changes to its App Store resulting from a ruling that the company could no longer charge a commission on payment links inside its apps, nor tell developers how the links should look.

— CNBC’s Kif Leswing and Lora Kolodny contributed to this article.

This post appeared first on NBC NEWS

In this video, Mary Ellen spotlights the areas driving market momentum following Taiwan Semiconductor’s record-breaking earnings report. She analyzes continued strength in semiconductors, utilities, industrials, and AI-driven sectors, plus highlights new leadership in robotics and innovation-focused ETFs like ARK. From there, Mary Ellen breaks down weakness in health care and housing stocks, shows how to refine trade entries using hourly charts, and compares today’s rally to past market surges. Watch as she explores setups in silver and examines individual stocks like Nvidia, BlackRock, and State Street.

This video originally premiered on July 18, 2025. You can watch it on our dedicated page for Mary Ellen’s videos.

New videos from Mary Ellen premiere weekly on Fridays. You can view all previously recorded episodes at this link.

If you’re looking for stocks to invest in, be sure to check out the MEM Edge Report! This report gives you detailed information on the top sectors, industries and stocks so you can make informed investment decisions.

The S&P 500 ($SPX) just logged its fifth straight trading box breakout, which means that, of the five trading ranges the index has experienced since the April lows, all have been resolved to the upside.

How much longer can this last? That’s been the biggest question since the massive April 9 rally. Instead of assuming the market is due to roll over, it’s been more productive to track price action and watch for potential changes along the way. So far, drawdowns have been minimal, and breakouts keep occurring. Nothing in the price action hints at a lasting change — yet.

While some are calling this rally “historic,” we have a recent precedent. Recall that from late 2023 through early 2024, the index had a strong start and gave way to a consistent, steady trend.

From late October 2023 through March 2024, the S&P 500 logged seven consecutive trading box breakouts. That streak finally paused with a pullback from late March to early April, which, as we now know, was only a temporary hiccup. Once the bid returned, the S&P 500 went right back to carving new boxes and climbing higher.

New 52-Week Highs Finally Picking Up

If there’s been one gripe about this rally, it’s that the number of new highs within the index has lagged. As we’ve discussed before, among all the internal breadth indicators available, new highs almost always lag — that’s normal. What we really want to see is whether the number of new highs begins to exceed prior peaks as the market continues to rise, which it has, as shown by the blue line in the chart below.

As of Wednesday’s close, 100 S&P 500 stocks were either at new 52-week highs or within 3% of them. That’s a strong base. We expect this number to continue rising as the market climbs, especially if positive earnings reactions persist across sectors.

Even when we get that first day with 100+ S&P 500 stocks making new 52-week highs, though, it might not be the best time to initiate new longs.

The above chart shows that much needs to align for that many stocks to peak in unison, which has historically led to at least a short-term consolidation, if not deeper pullbacks — as highlighted in yellow. Every time is different, of course, but this is something to keep an eye on in the coming weeks.

Trend Check: GoNoGo Still “Go”

The GoNoGo Trend remains in bullish mode, with the recent countertrend signals having yet to trigger a greater pullback.

Active Bullish Patterns

We still have two live bullish upside targets of 6,555 and 6,745, which could be with us for a while going forward. For the S&P 500 to get there, it will need to form new, smaller versions of the trading boxes.

Failed Bearish Patterns

In the chart below, you can view a rising wedge pattern on the recent price action, the third since April. The prior two wedges broke down briefly and did not lead to a major downturn. The largest pullbacks in each case occurred after the S&P 500 dipped below the lower trendline of the pattern.

The deepest drawdown so far is 3.5%, which is not exactly a game-changer. Without downside follow-through, a classic bearish pattern simply can’t be formed, let alone be broken down from.

We’ll continue to monitor these formations as they develop because, at some point, that will change.

Bed Bath & Beyond is back — kind of.

The bankrupt home goods chain is being resurrected by the owners and licensees of its intellectual property, which opened the first new Bed Bath & Beyond store in Nashville, Tennessee, on Friday with potentially dozens of more to come.

This time around, the store has a new name — Bed Bath & Beyond Home — and marks a “fresh start” for the beloved brand, said Amy Sullivan, the CEO of The Brand House Collective, the store’s operator.

“We’re proud to reintroduce one of retail’s most iconic names with the launch of Bed Bath & Beyond Home, beautifully reimagined for how families gather at home today,” Sullivan said in a news release. “With Bed Bath & Beyond Home we’re delivering on our mission to offer great brands, for any budget, in every room. It’s a powerful addition to our portfolio and a meaningful step forward in our transformation.”

In honor of the brand’s legacy, the new store will accept the brand’s famous 20% coupon, regardless of when it expired.

“We encourage guests to bring in their legacy Bed Bath & Beyond coupons which we will gladly honor,” the company said in a news release. “The coupon we all know and love is back and for those who need one, a fresh version will be waiting at the door.”

Bed Bath and Beyond 2.0 has been several years in the making and involved a rigmarole of corporate acquisitions and rebrandings. When the original Bed Bath and Beyond filed for bankruptcy in April 2023 following a string of corporate missteps, it struggled to find a buyer and ended up liquidating and selling off its business in parts. Overstock.com later bought the brand’s intellectual property, rebranded its business to Beyond Inc. and launched an online-only version of Bed Bath and Beyond.

What followed from there was a dizzying array of corporate deal-making. Ultimately, Beyond took an ownership stake in Kirkland’s Inc., a home decor chain with around 300 stores across the U.S., and gave it the exclusive license to develop and create Bed Bath & Beyond Home stores, as well as Buy Buy Baby stores.

Kirkland’s later rebranded to The Brand House Collective and plans to convert some of its existing Kirkland’s Home stores into more Bed Bath and Beyond shops. Friday’s launch in Nashville is the first of six planned for the market and, pending the results, it plans to convert around 75 additional stores through 2026.

The company said it chose Nashville for the launch because of its proximity to its corporate headquarters, which will allow it to “closely manage every detail and set the standard for future rollouts.”

While the relaunch is exciting for fans of the legacy brand, it comes at a difficult time for the home decor market. In many ways, Bed Bath & Beyond’s bankruptcy was the fault of its management team and execution missteps, but it also faced macro challenges as well, experts said at the time. Competition from players like Amazon, Walmart, Home Goods and Wayfair has made it harder for other brands to capture customer spend, and the overall sector has been soft for several years because of high interest rates and the sluggish housing market.

Even the current leaders in the home decor space have seen soft trends and it’s unlikely that will change until interest rates fall and the housing market picks back up, some analysts have said.

This post appeared first on NBC NEWS

Disney’s ESPN and Fox Corp. are teaming up to offer their upcoming direct-to-consumer streaming services as a bundle, the companies said Monday.

The move comes as media companies look to nab more consumers for their streaming alternatives, and draw them in with sports, in particular.

Last week, both companies announced additional details about the new streaming options. ESPN’s streaming service — which has the same name as the TV network — and Fox’s Fox One will each launch on Aug. 21, ahead of the college football and NFL seasons.

The bundled apps, however, will be available beginning Oct. 2 for $39.99 per month. Separately, ESPN and Fox One will cost $29.99 and $19.99 a month, respectively.

While the bundle will offer sports fans a bigger offering at a discounted rate, the streaming services are not exactly the same.

ESPN’s flagship service will be an all-in-one app that includes all of its live sports and programming from its TV networks, including ESPN2 and the SEC Network, as well as ESPN on Disney-owned ABC. The app will also have fantasy products, new betting tie-ins, studio programming and documentaries.

ESPN will also offer its app as a bundle with Disney’s other streaming services, Disney+ and Hulu, for $35.99 a month. That Disney bundle will cost a discounted $29.99 a month for the first 12 months — the same price as the stand-alone app.

Last week, ESPN further beefed up the content on its streaming app when it inked a deal with the WWE for the U.S. rights to the wrestling league’s biggest live events, including WrestleMania, the Royal Rumble and SummerSlam, beginning in 2026. The sports media giant also reached an agreement with the NFL that will see ESPN acquire the NFL Network and other media assets from the league.

The Fox One service, however, will be a bit different. Fox had been on the sidelines of direct-to-consumer streaming for years after its competitors launched their platforms. Just this year, it said it would offer all of its content — including news and entertainment — from its broadcast and pay TV networks in a streaming offering. Fox One won’t have any exclusive or original content.

Fox’s move into the direct-to-consumer streaming game — outside of its Fox Nation app and the free, ad-supported streamer Tubi — came after it abandoned its efforts to launch Venu, a joint sports streaming venture with Disney and Warner Bros. Discovery.

Both Fox CEO Lachlan Murdoch and Disney CEO Bob Iger said during separate earnings calls last week that they were exploring bundling options with other services. Since Fox announced the Fox One app, Murdoch has said the company would lean into bundles with other streaming services.

“Announcing ESPN as our first bundle partner is evidence of our desire to deliver the best possible value and viewing experience to our shared customers,” said Tony Billetter, SVP of strategy and business development for FOX’s direct to consumer segment, in a release on Monday.

This post appeared first on NBC NEWS

The remains of a famous sycamore tree, which stood on Britain’s Roman-built Hadrian’s Wall in northern England for more than 200 years, has found a new home nearly two years after it was illegally felled.

The removal of the tree from its spot known as “Sycamore Gap,” a pronounced dip in Hadrian’s Wall, in September 2023 sparked global outrage. Sycamore Gap was considered one of the most photographed trees in England and was made famous to millions when it appeared in Kevin Costner’s 1991 blockbuster film “Robin Hood: Prince Of Thieves.”

In May, two men were found guilty of criminal damage for felling the landmark tree.

Now, a section of it will be put on permanent display at The Sill: National Landscape Discovery Centre, about two miles (three kilometers) from where it once stood.

The UK’s National Trust gave the largest remaining piece of the salvaged trunk to the Northumberland National Park, where the tree was located.

“In the days and months after the tree was felled, The Sill became a place of celebration and memory. Visitors left post-it notes, letters, drawings and messages expressing grief, love, and hope,” the park said in a press release Thursday.

A public consultation was held in the aftermath of the felling on the future of the tree trunk. “The resulting exhibit honours the tree’s natural form while inviting people to engage with it in a deeply personal way,” The Sill said in a press release Thursday.

Tree trunk ‘is huggable’

The trunk is positioned upright, as it once was, and is surrounded by tree oak benches and streams of wood bent to form a canopy in the shape of a huge leaf – recreating the shelter the tree once offered for people to sit and reflect.

Some tributes from the local community have been carved into the wood.

“The original tree may be gone in the form we knew it, but its legacy remains, and what has come since has been endlessly positive, affirming our belief that people nature and place cannot be separated and are interdependent,” said Tony Gates, chief executive of Northumberland National Park Authority, in the release.

“This commission has been the biggest honour of my career,” said Charlie Whinney, the artist behind the new exhibition, in the release.

“I really hope what we’ve done in some small way allows the people of Northumberland and those who held this tree close to their hearts to process the loss they still feel from that day in September 2023, when the tree was illegally cut down,” he added.

“The work looks forward with hope, the tree is regrowing, and Sycamore Gap will always be a magical place to visit,” Whinney continued.

This post appeared first on cnn.com

European Commission President Ursula von der Leyen survived a no-confidence vote in the European Parliament on Thursday, brought by mainly far-right lawmakers who alleged she and her team undermined trust in the EU through unlawful actions.

As expected, the motion failed to get the two-thirds majority it needed to pass. Only 175 members of parliament backed the motion, while 360 voted against and 18 abstained.

Romanian nationalist Gheorghe Piperea, the lead sponsor of the motion, had criticized among other things the Commission’s refusal to disclose text messages between von der Leyen and the chief executive of vaccine maker Pfizer during the COVID-19 pandemic.

“The decision-making has become opaque and discretionary, and raises fears of abuse and corruption. The cost of obsessive bureaucracy of the European Union such as (tackling) climate change has been a huge one,” Piperea told the parliament on Monday.

During the debate on her leadership, von der Leyen defended her record in parliament, rejecting criticism of her management of the pandemic and asserting that her approach ensured equal vaccine access across the EU.

Although the censure motion had little chance of success, it was a political headache for von der Leyen as her Commission negotiates with US President Donald Trump’s administration to try to prevent steep US tariffs on EU goods.

It was the first time since 2014 that a Commission president has faced such a motion. Then President Jean-Claude Juncker also survived the vote.

This post appeared first on cnn.com

The words “Get out of Mexico” are still visible on one shop window as protestors violently kicked in the glass pane. In another clip, “Kill a gringo” is spray-painted on a wall in Mexico City as demonstrators carried placards demanding western foreigners “stop stealing our home.”

These were some of the striking scenes at a mass protest last week against gentrification and the rising cost of living in the Mexican capital city, which some have blamed on an influx of foreigners from the United States and Europe.

While the demonstration was largely peaceful and reflected growing anger about inequality in the Mexican capital, those who vandalized stores in the city’s wealthier neighborhoods and used anti-immigration language were criticized by Mexican President Claudia Sheinbaum as being xenophobic.

“No to discrimination, no to racism, no to classism, no to xenophobia, no to machismo, no to discrimination. All human beings, men and women, are equal, and we cannot treat anyone as less,” Sheinbaum said at a Monday press conference.

The US Department of Homeland Security, which has been carrying out an immigration crackdown in the US, reacted to Friday’s protests with an ironic post on X: “If you are in the United States illegally and wish to join the next protest in Mexico City, use the CBP Home app to facilitate your departure.”

The rallies in Mexico City mirror protests that have erupted in cities like Barcelona and Paris against skyrocketing costs, which have been blamed on overtourism, short-term home rentals, and an influx of people and businesses with higher purchasing power.

Frente Anti Gentrificación Mx, one of several groups that helped organize the protest on Friday, compared gentrification on its social media to a new form of colonization in which “the state, institutions, and companies, both foreign and local, provide differential treatment to those with greater purchasing power.”

Anti-gentrification activists say thousands of people in the Mexican capital have been forced out of their homes in recent years as tourists and remote workers, many of whom are believed to be American, take over popular neighborhoods like Roma and Condesa.

But a spokesperson for Frente Anti Gentrificación Mx pushed back against Sheinbaum’s suggestion that their campaign was xenophobic, saying the demonstration was meant to highlight the plight of those priced out of their homes and to demand reforms from the government.

“In Mexico, housing costs have risen 286% since 2005 … while real wages have decreased by 33%,” said Morales, citing data from the National Institute of Statistics and Geography and the Federal Mortgage Society.

She acknowledged that many people have been moving to Mexico for a variety of reasons, from the appeal of its culture to the relative affordability of its houses. At the same time, she urged potential newcomers to consider how such a move could affect the local community.

Not a new phenomenon

Immigration is not the sole cause of Mexico City’s gentrification, which is a phenomenon that has happened for decades, say experts.

“In the debates, there’s a confusion about gentrification being when foreigners arrive. And that’s not true,” activist and lawyer Carla Escoffié said, noting that other causes include inequality, deficiencies in housing policy and land privatization.

“Not all foreigners gentrify, nor are only those who gentrify foreigners, nor is a significant migration process necessary for gentrification to occur. Gentrification is based on inequalities in such a way that it’s not the same thing,” she added.

But the arrival of short-term rentals like Airbnb, and remote work policies during the pandemic, have turbo-charged the gentrification debate in recent years.

“Since 2020, a new phase of gentrification has begun, one that has worsened,” said Escoffié. “It’s been driven by digital nomads and short-term rental platforms like Airbnb.”

Airbnb defended its activities in Mexico City on Tuesday, saying it helped generate more than $1 billion in the local economy last year, and arguing that guests who booked accommodations also spent money on shops and services in the capital.

Mexico City’s government signed an agreement with Airbnb and UNESCO in 2022 to promote the capital as “a global hub for digital nomads and creative tourism.” Sheinbaum, who was the mayor of Mexico City at the time, presented the initiative as a way to boost the local economy.

The appeal was especially attractive for US citizens, who can stay in Mexico without a tourist visa for less than six months before requiring a special temporary residency permit, according to experts. In 2022, 122,758 temporary residency permits were granted to foreigners for Mexico, according to the National Institute of Migration, up from 97,825 in 2019.

But for many residents, the Mexico City initiative was another sign of the displacement happening around them.

A global trend

Anger about gentrification is not unique to Mexico City. Local governments from tourist destinations in Europe, such as Spain’s Canary Islands, Lisbon and Berlin, have announced restrictions on short-term rentals in the past decade.

Barcelona’s leftist mayor, Jaume Collboni, said that by November 2028, the government will scrap the licenses of the 10,101 apartments currently approved as short-term rentals in the popular tourist destination.

Residents in the Catalan capital have documented how renting by the day is more profitable for landlords than renting by the month, which has triggered evictions and the transformation of homes into short-term tourist accommodations.

In Mexico City, Airbnb has over 26,500 listings, according to the rental platform, many of which are concentrated in the areas most affected by gentrification. These listings are concentrated in the central neighborhoods of Condesa, Roma, Juárez and Polanco, according to Inside Airbnb, a project that provides data about Airbnb’s impact on residential communities.

In response to mounting criticism and the protests of 2022, the local government introduced new regulations, but experts argue they fall far short.

Airbnb, meanwhile, says the city needs regulations that support home sharing, not prohibition. It argues that many people in Mexico City rely on the platform as a financial lifeline, with 53% of its hosts saying the service helped them stay in their homes and 74% of hosts saying it helped cover essential expenses.

Activists are now bracing for when Mexico opens its doors to soccer fans for the next World Cup in 2026, which Morales fears could result in the state prioritizing business dealings over residents. “Given the critical state we’re in, who would come up with this?” she asked.

This post appeared first on cnn.com