Markets

Elon Musk could have to sell up to $10 billion in Tesla stock next week to complete his Twitter buyout, according to Dav Ives of Wedbush.”The more investors that bail on this deal is the more money that Musk needs to contribute and therefore sell more Tesla stock,” Ives said.Ives called Musk’s $44 billion deal… Continue reading Elon Musk could have to sell up to $10 billion in Tesla stock next week to get the ‘train wreck’ Twitter deal done, Wedbush says

The housing market will continue to slide in the coming months, according to Goldman Sachs.  Analysts said September existing homes sales data didn’t fully capture the latest increase in mortgage rates.  In a Thursday note, they said “we expect the deterioration in the housing market to reaccelerate in future prints.” Loading Something is loading. Thanks… Continue reading The housing market will deteriorate more quickly as the impact of soaring mortgage rates hasn’t been fully felt yet, Goldman Sachs says

Snap’s reported revenues only rose 6% from a year to $1.13 billion in the third quarter of 2022. It was Snap’s slowest quarterly growth ever and its sales missed market expectations. Shares slumped 27% in after-hours trade. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re… Continue reading Snap’s share price slumps 27% after the company reported its slowest quarterly revenue growth ever

Carla Mozée Traders work on the New York Stock Exchange floor in New York City. AP Photo/Ted Shaffrey US stocks fell Thursday, stretching their losses into a second consecutive session.  A “disappointing lack of progress on curtailing inflation” will keep the Fed raising interest rates, said Philadelphia Fed President Patrick Harker.  IBM and AT&T rose… Continue reading US stocks finish lower as Fed official’s dour inflation outlook pushes key bond yields to fresh 14-year highs

Lumber prices have rallied 26% so far in October, but further gains may be limited as the housing market slows down.The average 30-year fixed mortgage rate hit 7% in amid the Fed’s ongoing rate hike policy.”At 7% interest rates, I wouldn’t expect lumber to do much for a while,” MaterialsXChange’s Ashley Boeckholt said. Loading Something… Continue reading Lumber prices have defied a cooling housing market to climb 26% in October, but surging mortgage rates will keep a lid on further upside

Markets “lack any sense at all,” and that won’t change until the inflation situation changes, according to Wells Fargo. Gains from the recent rally may be wiped out, as previous rallies have also failed this year. Inflation in September clocked in at 8.2%, still hovering near 40-year highs.  Loading Something is loading. Thanks for signing… Continue reading Markets right now ‘lack any sense at all’, and nothing will change until the inflation picture becomes clearer, Wells Fargo says

The housing market will continue to plummet as there’s “no floor in sight,” according to Pantheon Macroeconomics.  Chief economist Ian Shepherdson wrote in a note Thursday that home prices could fall as much as 20%.  His warning came after existing home sales dropped for an eighth consecutive month, the longest slump since 2007. Loading Something… Continue reading The housing market is in free fall with ‘no floor in sight,’ and prices could crash 20% in the next year, analyst says

Matthew Fox Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., March 5, 2020. Andrew Kelly/Reuters US stocks snapped a two-day win streak on Wednesday despite solid corporate earnings reports.The decline came as bond yields surged, with the 10-year US Treasury yield jumping to its highest level… Continue reading US stocks snap 2-day win streak as investors digest surging bond yields ahead of more high-profile earnings