Taylor Swift’s Eras Tour had a significant impact on several public companies this summer. The pop star’s concerts fueled sales of merchandise, vinyl albums, hotel rooms, and credit cards. Bosses blamed the “Swift effect” for weak furniture demand and said it didn’t help clothing sales. Loading Something is loading. Thanks for signing up! Access your… Continue reading Merch, vinyl, hotels and credit cards: Taylor Swift’s Eras Tour helped a bunch of companies – but hurt others
The Fed isn’t done fighting inflation — but it’ll ensure its next big decision won’t bring ‘unnecessary harm’ to consumers
Federal Reserve Chair Jerome Powell delivered his economic outlook remarks at Jackson Hole on Friday. He did not specify what the bank’s next move will be and committed to reaching the 2% inflation target. But he said the Fed will “proceed carefully” in determining whether to continue raising rates. Loading Something is loading. Thanks for… Continue reading The Fed isn’t done fighting inflation — but it’ll ensure its next big decision won’t bring ‘unnecessary harm’ to consumers
The housing market has gotten so unaffordable that Zillow is now offering prospective homebuyers a 1% down payment option
Zillow thinks it has an answer to the affordability crisis that has taken over the housing market.The company is offering prospective homebuyers the option to put a 1% down payment on a house.The affordability shock in the housing market has been sparked by a surge in interest rates and still-high home prices. Loading Something is… Continue reading The housing market has gotten so unaffordable that Zillow is now offering prospective homebuyers a 1% down payment option
A co-investment chief at billionaire investor Mario Gabelli’s firm shares 3 stocks with strong pricing power he’s betting on as inflation remains sticky — including one that could surge 53%
A tight labor market threatens to keep inflation elevated, which could mean high rates for longer. In such an environment, pricing power is crucial to a firm’s success, says Kevin Dreyer. The Gabelli Funds co-CIO is bullish on stocks like Diageo and BellRing Brands. The folks at Gabelli Funds are bottom-up investors, says Kevin Dreyer,… Continue reading A co-investment chief at billionaire investor Mario Gabelli’s firm shares 3 stocks with strong pricing power he’s betting on as inflation remains sticky — including one that could surge 53%
The 2023 stock market rally is over as the Fed isn’t easing anytime soon and a hard landing of the economy is inevitable, JPMorgan’s chief stock strategist says
The rally in the S&P 500 is capped through the rest of the year, JPMorgan’s Dubravko Lakos said. That’s because there are a litany of negative factors heading into 2024 that will weigh on equities. The strength of the US economy has only postponed a coming recession, not averted one, he added. Loading Something is… Continue reading The 2023 stock market rally is over as the Fed isn’t easing anytime soon and a hard landing of the economy is inevitable, JPMorgan’s chief stock strategist says
The housing market will be stuck in a rut for a long time even if the US avoids a recession, Fannie Mae says
The downturn in the US housing market isn’t ending anytime soon, Fannie Mae warned. That’s because mortgage rates are set to stay elevated if the US avoids a recession. Even if the US does tip into recession, tight financial conditions will still weigh on home sales. Loading Something is loading. Thanks for signing up! Access… Continue reading The housing market will be stuck in a rut for a long time even if the US avoids a recession, Fannie Mae says
A ‘drop the mic’ moment: Here’s how Wall Street is reacting to Nvidia’s stunning 2nd-quarter earnings results
Nvidia’s blockbuster second-quarter earnings and third-quarter guidance blew away Wall Street’s expectations. “This AI demand story is as REAL as any tech trend we have seen in the last 30 years only comparable to the Internet in 1995 and Apple’s iPhone launch in 2007,” Wedbush said. Here’s how Wall Street is reacting to Nvidia’s stunning… Continue reading A ‘drop the mic’ moment: Here’s how Wall Street is reacting to Nvidia’s stunning 2nd-quarter earnings results
Americans are applying for mortgages at the lowest rate in 28 years
US mortgage applications for home purchases fell to their lowest mark in 28 years, Mortgage Bankers Association data showed. Refinancing also declined to a level 35% lower than the same week last year. Mortgage rates climbed to 7.31% in the week ending August 18, the highest in 23 years. Loading Something is loading. Thanks for… Continue reading Americans are applying for mortgages at the lowest rate in 28 years
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