Is the stock market open on Memorial Day? The answer to this question is no. The stock market will be closed Monday, May 29, for Memorial Day. The federal holiday, which was originally known as Decoration Day, honors fallen military personnel. Memorial Day also serves as the unofficial start of summer. Peter McNally, global sector… Continue reading Is the Stock Market Open on Memorial Day?
US stocks fall as concerns about US debt default gain steam
Matthew Fox Speaker of the House Kevin McCarthy (R-CA) speaks during a bill signing at the U.S. Capitol March 9, 2023 in Washington, DC. Drew Angerer/Getty Images US stocks fell on Wednesday as investors grow weary of the ongoing debt ceiling standoff between Democrats and Republicans.Treasury Secretary Janet Yellen has warned that the government could… Continue reading US stocks fall as concerns about US debt default gain steam
The 30-year mortgage rate is back above 7% for the first time since March
The average rate on a 30-year fixed mortgage topped 7% this week for the first time since March. Applications for home purchases also slipped 4.3% in the week ending May 19, MBA data shows. Mortgage rates have climbed in May as debt-ceiling talks continue to stall and 10-year Treasury yields climb. Loading Something is loading.… Continue reading The 30-year mortgage rate is back above 7% for the first time since March
The credit crunch is driving more bankruptcies and could spark a domino effect of defaults at larger firms, investment manager says
The credit crunch could spark a domino-style effect in corporate defaults, RBA warned. The pullback in lending conditions has already led to a surge in bankruptcies at small, weak firms. That could easily lead to failures at large, seemingly sound companies, the investment manager said. Loading Something is loading. Thanks for signing up! Access your… Continue reading The credit crunch is driving more bankruptcies and could spark a domino effect of defaults at larger firms, investment manager says
Elon Musk hints at Tesla’s AI ambitions, sounds the alarm on a China-Taiwan conflict, and shouts out dogecoin in a new interview. Here are the 12 best quotes.
Elon Musk intends to take on Microsoft and Google in AI, he teases in a new interview. The Tesla, Twitter, and SpaceX CEO expresses his love of dogecoin and slams corporate inertia. Musk also discusses space travel, succession, and China-Taiwan risks. Here are the 12 best quotes. Loading Something is loading. Thanks for signing up!… Continue reading Elon Musk hints at Tesla’s AI ambitions, sounds the alarm on a China-Taiwan conflict, and shouts out dogecoin in a new interview. Here are the 12 best quotes.
‘Dr. Doom’ economist Nouriel Roubini warns US regional banks will ‘certainly’ face a credit crunch
“Dr. Doom” economist Nouriel Roubini said US regional banks will “certainly” face a credit crunch. “There will be certainly some credit crunch especially among regional banks, those are the ones that are squeezed,” he said. Fears of a credit squeeze have risen as banks tighten lending standards following the failures of Silicon Valley Bank and… Continue reading ‘Dr. Doom’ economist Nouriel Roubini warns US regional banks will ‘certainly’ face a credit crunch
Stock Market Today: Stocks Waver Ahead of Biden, McCarthy Debt Ceiling Talks
The major benchmarks failed to make big moves Monday as investors looked ahead to several potentially market-moving events this week. Most notably is the outcome of tonight’s meeting between President Joe Biden and House Speaker Kevin McCarthy, who are desperately trying to negotiate the debt ceiling by the end of this month. Biden and McCarthy… Continue reading Stock Market Today: Stocks Waver Ahead of Biden, McCarthy Debt Ceiling Talks
US stocks decline as White House, Republicans continue to wrangle over debt ceiling deal
Carla Mozée A trader works on the floor of the New York Stock Exchange. Michael M. Santiago/Getty Images US stocks fell Tuesday as debt-ceiling talks wear on in Washington, DC. House Speaker Kevin McCarthy said talks have been “productive” but differences with Democrats remain. The Nasdaq Composite on Monday logged its highest close of the… Continue reading US stocks decline as White House, Republicans continue to wrangle over debt ceiling deal
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