A default on the nation’s debt, if Congress is unable to raise the federal debt ceiling in coming weeks, would boost mortgage rates by at least two percentage points and cause a slump in home sales as costlier financing puts real estate beyond the reach of more Americans, according to Jeff Tucker, a Zillow senior
A ‘for sale’ sign hangs in front of a home on June 21, 2022 in Miami, Florida. Joe Raedle | Getty Images Higher mortgage rates and a severe shortage of homes for sale are taking their toll on mortgage demand. Mortgage applications to purchase a home dropped 4.8% last week, compared with the previous week,
A committee formed by the California treasurer’s office has developed investor-driven guidelines for disclosure on green bond issuance. The thrust of the guidelines, created by the California Green Bond Market Development Committee, was to help issuers provide more uniform disclosure. It dovetails with the International Capital Market Association’s guidelines, but provides information more specific to
Share buybacks, once an American oddity, are taking over the world. Company repurchases of their own stock hit a global record last year of $1.3tn, triple the level of 10 years ago, according to research by Janus Henderson. While US companies remain the biggest buyers, the transactions have gained favour rapidly in continental Europe and
Two Federal Reserve officials signaled they favored pausing interest rate increases, while a third policymaker said the central bank’s task in subduing inflation was not complete. “We at the Federal Reserve probably have more work to do on our end to try to bring inflation back down,” Minneapolis Fed President Neel Kashkari said Monday during
Bitcoin consolidated below a key price floor on Tuesday, as markets were preparing for upcoming U.S. retail sales figures. Following two months of declines, sales in the United States are expected to rebound, as inflation cools off. Ethereum remains above the $1,800 level. Bitcoin Bitcoin (BTC) consolidated in today’s session, as markets were preparing for
In this article SE NUN-MX DISH HD Follow your favorite stocksCREATE FREE ACCOUNT A Home Depot store in Hyattsville, Maryland, on February 22, 2022. Stefani Reynolds | AFP | Getty Images Check out the companies making headlines in premarket trading. Dish Network — The satellite TV provider added 5.2% in premarket trading after director James
It appears that embattled crypto lender Celsius is wasting no time in shifting its Ethereum staking tokens from liquid staking platform Lido which has just enabled withdrawals. On May 15, a transaction was identified on Celsius wallets for 428,015 stETH (Lido staked Ether) to the Lido staked Ethereum wallet. The whopping stash was worth $781
Texas school districts, flush with new bond authorizations over the last year, are breathing a sigh of relief now that a cost-saving state guarantee program for their debt is fully back in business after the Internal Revenue Service increased its capacity for the first time since 2009. In a notice of intent last week, the
Major cryptocurrency Bitcoin (BTC) could become a top three asset in the event of a theoretical debt default in the United States, according to a new survey. As U.S. President Joe Biden prepares to meet with Congress on May 16 to discuss the U.S. debt ceiling, investors are seeking hedges to protect their savings in
In this article SOFI DD SCHW SHAK Follow your favorite stocksCREATE FREE ACCOUNT Sopa Images | Lightrocket | Getty Images Check out the companies making the biggest moves in premarket trading: Shake Shack – The fast food chain saw its stock gain nearly 4% after the Wall Street Journal reported that activist investor Engaged Capital
Tech entrepreneur Rosie Zhang is betting that the reopening of China’s borders to the world will jump-start growth for her start-up. “Now we can go out and sell,” she said, after three years spent during the pandemic pitching customers and teaching them how to use her company’s retail automation technology over video calls from Shanghai.
President Joe Biden has tapped Philip Jefferson for the number two position on the Federal Reserve Board of Governors. If confirmed, Jefferson, who joined the board last year, will succeed former Gov. Lael Brainard as the Fed’s vice chair. Brainard vacated the position to lead the National Economic Council in February. A former administrator at
Top Stories This Week Coinbase calls Pepe a ‘hate symbol,’ prompting calls to boycott the exchange An email sent out to Coinbase customers describing the Pepe the Frog meme as a “hate symbol” co-opted by alt-right groups has drawn significant ire from the PEPE memecoin community this week. Two hours after the email was sent,
In the past week, the Bitcoin network has made progress in resolving its congestion issues. On May 7, 2023, the number of unconfirmed transactions reached an all-time high of over 500,000 transfers, causing a major backlog. However, as of today, that number has been reduced to 263,406. Currently, 184 blocks need to be cleared to
In this article WAL PACW FOXA Follow your favorite stocksCREATE FREE ACCOUNT JD.com has become the latest Chinese tech giant to announced plans for a ChatGPT-style product, joining the hype around the chatbot technology. Qilai Shen | Bloomberg | Getty Images Check out the companies making headlines in premarket trading. News Corporation — Shares gained
Massachusetts Gov. Maura Healey’s tax relief package is one step closer to passage despite slumping revenue figures. On Tuesday, the state Senate Ways and Means Committee unanimously passed a $55.8 billion budget for fiscal ’24, forwarding along to the Democratic-controlled chamber a $575 million tax cut plan that preserves many of the proposals the governor
China will send a special envoy to Ukraine, Russia and other countries to discuss a “political settlement to the Ukraine crisis”, the Chinese foreign ministry said on Friday. Li Hui, a former Chinese ambassador to Moscow, will visit Ukraine, Poland, France, Germany and Russia from Monday, spokesperson Wang Wenbin announced at a press conference. “Sending
Apple’s first physical retail store is located in the populous city of Mumbai. Punit Paranjpe | Afp | Getty Images Dimensional’s Matrix Book is an annual review of global returns that highlight the power of compound investing. It’s a fascinating document: you can look up the compounded growth rate of the S&P 500 for every year
In this article HOOD TWLO IEP NWSA FSLR Follow your favorite stocksCREATE FREE ACCOUNT Connie Black makes adjustments to the manufacturing line for the series 6 solar panels seen during a tour of a First Solar plant in Walbridge, Ohio, October 6, 2021. Dane Rhys | Reuters Check out the companies making the biggest moves
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