Stocks are still on track to end the year “significantly higher,” Fundstrat’s Tom Lee said. That comes despite a recent pullback, with equities closing September with the worst losses of the year. But yields are bound to come down eventually, Lee said, which is a positive for stocks. Loading Something is loading. Thanks for signing… Continue reading Stocks will be significantly higher by year-end, and high bond yields and inflation aren’t as bad as they seem, Fundstrat says
The housing market is following a similar playbook from the 1980s when mortgage rates doubled. Here’s what it could mean for homebuyers today.
The US housing market is showing parallels to the 1980s, when mortgage rates doubled.Bank of America highlighted that both periods had strong pent-up demand due to demographic trends.Here’s what this could mean for the housing market today, according to Bank of America. Loading Something is loading. Thanks for signing up! Access your favorite topics in… Continue reading The housing market is following a similar playbook from the 1980s when mortgage rates doubled. Here’s what it could mean for homebuyers today.
The price of steel is falling as the UAW strike hits demand
The UAW strike’s ripple effects is decreasing the demand for steel, the Journal reported. The strike has cut production of 6,030 vehicles a day that used 5,982 tons of steel, S&P estimates. Prices of coiled sheet steel, commonly used to make automotive parts, have fallen 40% since April. Loading Something is loading. Thanks for signing… Continue reading The price of steel is falling as the UAW strike hits demand
Is the Stock Market Closed on Columbus Day/Indigenous Peoples’ Day in 2023?
Is the stock market closed on Columbus Day, or Indigenous Peoples’ Day, in 2023? The answer to this question is no. The stock market will be open Monday, October 9, for the annual holiday. However, bond traders will get an extended weekend, with the bond market closed on Monday. Unlike some holidays, however, there are… Continue reading Is the Stock Market Closed on Columbus Day/Indigenous Peoples’ Day in 2023?
Stock Market Today: Dow Sinks 430 Points as Jobs Data Boosts Bond Yields
Stocks took a nosedive Tuesday as shockingly strong jobs data sent Treasury yields spiking and raised expectations for another possible rate hike from the Federal Reserve. The main benchmarks opened modestly lower today, but mid-morning data showing an unexpected rise in the number of job openings sent them spiraling in afternoon trading. Specifically, the… Continue reading Stock Market Today: Dow Sinks 430 Points as Jobs Data Boosts Bond Yields
Applications for home loans have plunged to the lowest level since 1996 as mortgage rates notch 23-year highs
Mortgage applications just plunged to their lowest level since 1996 last week, per the MBA’s latest survey. That comes as the 30-year mortgage rate touches 7.53% in the past week, the highest in 23 years. Experts say the housing affordability crisis won’t improve until mortgage rates dial back significantly. Loading Something is loading. Thanks for… Continue reading Applications for home loans have plunged to the lowest level since 1996 as mortgage rates notch 23-year highs
Here’s where Wall Street strategists see the stock market headed next after a brutal September
Stocks are coming off a brutal two-month stretch, and Wall Street is divided on what comes next. Fundstrat remains bullish, while JPMorgan has warned the carnage for stocks isn’t over. Soaring bond yields may just be a near-term headwind for stocks, another strategist said. Loading Something is loading. Thanks for signing up! Access your favorite… Continue reading Here’s where Wall Street strategists see the stock market headed next after a brutal September
‘Shark Tank’ star Kevin O’Leary laughs off idea that institutional investors want bitcoin – ‘They don’t own any of it’
Institutions aren’t putting money into bitcoin, despite talk of rising interest, Kevin O’Leary said. A bitcoin spot ETF won’t happen as the main crypto exchanges are under SEC scrutiny, he told CoinDesk. Without compliant and transparent exchanges in the US, bitcoin won’t rise in value, he added. Loading Something is loading. Thanks for signing up!… Continue reading ‘Shark Tank’ star Kevin O’Leary laughs off idea that institutional investors want bitcoin – ‘They don’t own any of it’
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