As housing boom begins to fizzle, weekly mortgage demand falls nearly 7%
Record high home price appreciation is sidelining ever more buyers and finally taking the bang out of the pandemic-induced housing boom. Weekly mortgage demand is falling along with it, down 6.9% for the week according to the Mortgage Bankers Association’s...
Biden’s infrastructure plan would cut U.S. debt and slightly increase economic growth, Wharton study finds
U.S. President Joe Biden delivers remarks highlighting the benefits of Bipartisan Infrastructure Framework, at La Crosse Municipal Transit Utility, in La Crosse, Wisconsin, U.S., June 29, 2021. Kevin Lemarque | Reuters A bipartisan infrastructure deal reached by President Joe Biden...
Stocks making the biggest moves in the premarket: Virgin Galactic, Bed Bath & Beyond, MongoDB & more
Take a look at some of the biggest movers in the premarket: Virgin Galactic (SPCE) – The space transportation company’s stock dropped 3% in premarket trading, after Bank of America Securities double-downgraded the stock to “underperform” from “buy.” BofA notes...
Stocks making the biggest moves midday: Moderna, Morgan Stanley, GE and more
Boxes containing vials of the Moderna Covid-19 vaccine are stored at the Kedren Community Health Center on January 25, 2021 in Los Angeles, California. Patrick T. Fallon | AFP | Getty Images Check out the companies making headlines in midday...
Home prices surged in April at a ‘truly extraordinary’ rate, S&P Case-Shiller says
Home prices in April saw an annual gain of 14.6% in April, up from a 13.3% increase in March, according to the S&P CoreLogic Case-Shiller National Home Price Index. Among larger cities covered by the index, the 10-city composite was...
This under-the-radar trend may provide investors with relief from runaway inflation fears
A longtime market bull sees an under-the-radar trend that should calm runaway inflation fears, and it has nothing to do with Federal Reserve policy. According to The Leuthold Group’s Jim Paulsen, private money coming from individuals and companies has been...
El-Erian says the Fed is behind on inflation and risks another recession if it is forced to catch up
Federal Reserve officials are underestimating inflation and risking that the U.S. could fall into another recession, Mohamed El-Erian, chief economic advisor at Allianz, told CNBC on Monday. Central bank leaders insist that the recent round of price pressures will subside...
UBS to let two-thirds of employees combine working from home with the office
FABRICE COFFRINI | AFP | Getty Images UBS is planning to let up to two-thirds of its employees permanently combine working remotely with being in the office, in stark contrast to some Wall Street banks. A spokesperson for the Swiss...
Stock futures open higher as S&P 500 looks to add to record
A man walks past the charging bull statue near the New York Stock Exchange. Mandel Ngan | AFP | Getty Images Futures contracts tied to the major U.S. stock indexes rose at the start of the overnight session Sunday evening...
Inflation looks bad now, but it’s pretty much sticking to the script
Customers shop for produce at a supermarket on June 10, 2021 in Chicago, Illinois. Scott Olson | Getty Images Under normal circumstances, the recent spate of high inflation numbers would be cause for high alarm. But in the present Covid-era...