Markets

Home purchases by investors fell 48.6% in the first quarter from a year ago, Redfin said. That’s the largest annual decline on record going back to 2000. Redfin cited high interest rates as well as declining rents and housing values, which cut into profitability. Loading Something is loading. Thanks for signing up! Access your favorite… Continue reading Real estate investors are retreating from the housing market at a record pace

Nvidia founder and CEO Jensen Huang.Ethan Miller/Getty Images Nvidia’s market capitalization hit $1 trillion Tuesday as its stock surged. It’s one of a handful of US companies, including Apple, Microsoft, and Amazon, to reach that level. The explosion of interest in ChatGPT and AI has fueled Nvidia’s stock market surge this year. Nvidia made it… Continue reading Nvidia has AI to thank for entering the $1 trillion club

The credit crunch is sparking a wave of corporate defaults, according to Deutsche Bank. Analysts pointed to tighter financial conditions stemming from bank failures and higher interest rates. Credit conditions are also signaling a coming recession, analysts warned. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while… Continue reading The credit crunch will spark a wave of corporate defaults and a recession as tight financial conditions put an end to the lending boom, Deutsche Bank says

Warren Buffett’s Berkshire Hathaway bought more Occidental Petroleum stock amid an ongoing slide in oil prices.Buffett purchased $275 million worth of Occidental over the past week, boosting Berkshire’s stake in the oil producer to 24.9%. Despite the string of buys, Buffett has said that Berkshire has no plans to take over Occidental. Loading Something is loading.… Continue reading Warren Buffett’s Berkshire Hathaway buys $275 million more Occidental Petroleum stock amid ongoing slide in oil prices

Nvidia CEO Jensen Huang made more than 60% of his $36 billion fortune this year. Huang’s soaring wealth comes as the chipmaker rides the boom in artificial intelligence. Meta CEO Mark Zuckerberg lags behind, increasing his net worth by 52% this year. Loading Something is loading. Thanks for signing up! Access your favorite topics in… Continue reading Nvidia CEO Jensen Huang made the bulk of his $36 billion fortune this year following chipmaker’s stock surge

Paul Krugman says crypto is mostly useless, overvalued, and appeals to bank skeptics and criminals. The Nobel Prize-winning economist flagged a “crypto bubble” and the “dark side” of the crypto world. Krugman has dismissed crypto as inefficient, volatile, and propped up by hype and speculation. Loading Something is loading. Thanks for signing up! Access your… Continue reading Nobel economist Paul Krugman slams crypto as mostly useless, after saying it’s hugely overpriced and helps criminals

About 65% of US landlords plan to raise rents in the next 12 months, a new survey from Avail by Realtor.com showed. But that’s down from 70.4% in October 2022. Rent prices climbed 0.29% in April on an annual basis, the smallest yearly increase in more than three years. Loading Something is loading. Thanks for… Continue reading The housing market is seeing a shift as landlords turn less aggressive – but 65% still plan to raise rent prices

The G7’s approach to China’s economy is accelerating a new cold war, Nouriel Roubini wrote. Western commitment to containing China’s economic influence, risks an eventual “violent crack-up.” Export restrictions of key technology to China may come with economic retaliation. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed… Continue reading The West’s efforts to contain the Chinese economy are escalating a new cold war and raise the risk of a ‘violent crack-up,’ Nouriel Roubini says