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Day: June 17, 2021

Mortgage rates shoot higher after Fed Chairman Powell’s comments

The average rate on the popular 30-year fixed mortgage moved decidedly higher Thursday, hitting 3.25%, according to Mortgage News Daily. That is the highest rate since mid-April. The move was a reaction to comments made Wednesday by Federal Reserve Chairman Jerome Powell following the central bank’s meeting this week. Fed officials indicated that rate hikes …

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Gold Crashes Below $1800: What a Difference a Week Makes!

Oh how quickly things can change! This time last week, gold bulls were riding high, with the yellow metal trading near a 5-month high after a couple-month run outperforming other safe haven and store of value assets…until the script flipped this week. A hotter-than-expected PPI report on Tuesday, followed up by yesterday’s far more-hawkish-than-expected FOMC …

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US Open: Wall Street Set to Extend Losses after the Fed’s Hawkish Shift

Stocks are sent to open lower and the USD builds on gains after the Fed surprised the market with a hawkish shift. Jobless claims rose for the first time since April. US futures Dow futures -0.34% at 339213 S&P futures -0.4% at 4207 Nasdaq futures -0.5% at 13913 In Europe FTSE -0.7% at 7140 Dax …

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Jobless claims show surprise increase to highest level in a month

Initial jobless claims unexpectedly rose last week despite an ongoing recovery in the U.S. employment market, the Labor Department reported Thursday. First-time filings for unemployment insurance for the week ended June 12 totaled 412,000, compared with the previous week’s 375,000. That was the highest number since May 15. Economists surveyed by Dow Jones had been …

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