Pending home sales fell unexpectedly in September, likely due to higher mortgage rates
A pending sale sign in front of a home in Miami. Getty Images Pending home sales, which are a measure of signed contracts to buy existing homes, fell an unexpected 2.3% in September compared with August, according to the National...
Economic growth rate slows to 2% on a sharp slowdown in consumer spending
The U.S. economy grew at a 2% rate in the third quarter, its slowest gain of the pandemic-era recovery, as supply chain issues and a marked deceleration in consumer spending stunted the expansion, the Commerce Department reported Thursday. Gross domestic...
Alchemy, the start-up powering Adobe’s NFT effort, sees valuation skyrocket as digital collectibles go mainstream
Alchemy co-founders Nikil Viswanathan (left) and Joe Lau. Source: Alchemy Start-up Alchemy is benefiting as more companies try to future-proof their businesses by adapting their technologies to the blockchain and through digital collectibles. The San Francisco-based company announced a $250...
Stock futures rise slightly after S&P 500 slips from a record
Stock futures edged higher in overnight trading on Wednesday after the S&P 500 and the Dow Jones Industrial Average slipped from their record highs. Dow futures rose 50 points. S&P 500 futures and Nasdaq 100 futures both traded 0.1% higher....
Mortgage rates rise to an 8-month high, tanking refinance demand
Real estate agents arrive at a brokers tour showing a house for sale in San Rafael, California. Getty Images Mortgage rates have been on a tear this month, rising yet again last week to the highest level in eight months,...
Investors pour money into Chinese start-ups despite regulatory crackdown
Aerial view of vehicles being driven on the road through the central business district on October 5, 2020 in Beijing, China. Zhang Qiao | Visual China Group | Getty Images BEIJING — Global investors put more money into Chinese start-ups...
Greenlight, the fintech app for kids, wants to teach parents how to invest
Source: Greenlight Greenlight Financial, the start-up that helped pioneer the fintech category of debit cards and budgeting apps for kids, is now targeting parents. The start-up is releasing an investing platform that aims to teach parents how to research stocks...
Home prices in August hinted at possible cooling in the market, S&P Case-Shiller says
A sign is posted in front of new homes for sale at Hamilton Cottages on September 24, 2020 in Novato, California. Justin Sullivan | Getty Images There are signs that price growth could be cooling off in the otherwise red-hot...
Hyperinflation warnings are ‘totally ridiculous,’ economist and longtime bear David Rosenberg says
Economist David Rosenberg suggests hyperinflation warnings are irrational. The longtime bear, known for his contrarian views, blames rising prices on Covid-19-induced supply side shocks. According to Rosenberg, it’s wrong to assume the impact will cripple the economy and feed into...
Cathie Wood disputes Jack Dorsey’s hyperinflation warning, says prices will fall after holidays
Catherine Wood, chief executive officer of ARK Investment Management LLC, speaks during the Milken Institute Global Conference in Beverly Hills, California, on Monday, Oct. 18, 2021. Kyle Grillot | Bloomberg | Getty Images Innovation investor Cathie Wood on Monday rebutted...