Day: August 15, 2018
Homebuilder and construction stocks enter bear market
Stocks of major home construction companies fell on Wednesday, beleaguered by a slump in U.S. equity trading and a decline in homebuilder sentiment. Declines in Lumber Liquidators and American Woodmark pushed the Home Construction exchange-traded fund (ITB) into bear market territory, down more than 21 percent from its 52-week high notched in January. The moves …
Homebuilder and construction stocks enter bear marketRead More
Trump might get his slowdown in rate hikes, but for the wrong reason
Among the unintended consequences from President Donald Trump’s trade war is that it could cause the Federal Reserve to slow the pace of its interest rate hikes. While Trump has spoken out against the central bank’s policy tightening and might be pleased if it stops raising interest rates sooner than expected, the move would …
Trump might get his slowdown in rate hikes, but for the wrong reasonRead More
DAX in Red as investors Seeing Blue
The DAX index continues to trade in red territory. The pair has posted sharp losses in the Wednesday session and is trading at 12,234, down 1.00% on the day. There are no major events on the schedule. On Thursday, Germany releases the Wholesale Prices Index and the eurozone well publish the trade surplus. It’s been …
US: Retail Sales Indicated Solid Start to Q3 Consumer Spending
Despite worries about spending fatigue after a strong Q2 and hand-wringing about auto sales, the July retail sales report was solid in most areas. Still, rising prices are a headwind, evident in gas sales’ outsized gains. No Signs of Third Quarter Spending Slowdown Retailers reported a 0.5 percent monthly sales increase in July, and the …
US: Retail Sales Indicated Solid Start to Q3 Consumer SpendingRead More
Dollar Surges on Strong Retail Sales, But Yen Even Stronger on Risk Aversion
Dollar jumps higher in early US session as supported by strong retail sales data. But the greenback is once again outshone by Yen on risk aversion. At the time of writing, DAX is down -1.22%, CAC is down -1.19% and FTSE is down -1.17%. Earlier in Asia, Nikkei lost -0.68%, HK HSI dropped -1.55%, Shanghai …
Dollar Surges on Strong Retail Sales, But Yen Even Stronger on Risk AversionRead More
Cryptocurrency investor robbed via his cellphone sues AT&T for $224 million over loss
A U.S. investor filed a $224 million lawsuit against AT&T Wednesday accusing the telecommunications giant of negligence that allegedly caused the California resident to lose roughly $24 million in cryptocurrency. In a 69-page complaint filed with the U.S. District Court in Los Angeles, the plaintiff Michael Terpin claimed that because of “AT&T’s willing cooperation with …
Cryptocurrency investor robbed via his cellphone sues AT&T for $224 million over lossRead More
US industrial output rises modestly, powered by factories
U.S. industrial production edged higher in July, boosted by higher manufacturing output in a positive sign for economic growth. The Federal Reserve said on Wednesday industrial production rose 0.1 percent last month after an upwardly revised 1.0 percent increase in June. Economists polled by Reuters had forecast industrial production rising 0.3 percent last month after …
US industrial output rises modestly, powered by factoriesRead More
US retail sales increase strongly in July
U.S. retail sales rose more than expected in July as households boosted purchases of motor vehicles and clothing, suggesting the economy remained strong early in the third quarter. The Commerce Department said on Wednesday retail sales increased 0.5 percent last month. But data for June was revised lower to show sales gaining 0.2 percent instead …
Trump trade war with China leads to ‘off the charts’ rush of imports at nation’s busiest port
The escalating trade war with China is leading U.S. retailers to speed up the import of goods from Asia’s largest economy to avoid new tariffs and ensure they have adequate supplies for the winter holidays. Executives say nervous importers pushed forward shipments into the Port of Los Angeles that would normally arrive later in the …
Weekly mortgage applications drop as homebuyers drop out
A small drop in mortgage interest rates was not enough to make pricey properties more enticing last week. Mortgage application volume fell 2 percent for the week, according to the Mortgage Bankers Association’s seasonally adjusted report. Volume was 19 percent lower than the same week one year ago, when interest rates were lower. The drop …
Weekly mortgage applications drop as homebuyers drop outRead More
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Finance news
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