Today’s housing market is a toxic mix of high mortgage rates, high prices, tight supply and strangely strong pent-up demand — and it’s scaring off buyers and sellers alike. Prices were already high, driven by supercharged demand during the height of the Covid-19 pandemic. Now the popular 30-year fixed mortgage rate is at 8%, the
Month: October 2023
In this article PM Follow your favorite stocksCREATE FREE ACCOUNT Philip Morris International’s Marlboro brand cigarettes are arranged for a photograph in Shelbyville, Kentucky, on Oct. 2, 2015. Luke Sharrett | Bloomberg | Getty Images Philip Morris International on Thursday reported quarterly earnings that topped Wall Street’s expectations but revenue that missed estimates, as sales
Federal Reserve Chairman Jerome Powell acknowledged recent signs of cooling inflation, but said Thursday that the slowing in price increases was not enough yet to determine a trend and that the central bank would be “resolute” in its commitment to its 2% mandate. “Inflation is still too high, and a few months of good data
In this article US10Y Follow your favorite stocksCREATE FREE ACCOUNT The yield on the benchmark 10-year Treasury crossed 5% for the first time in 16 years on Thursday, causing a ripple effect that could raise rates on mortgages, student debt, auto loans and more. After Federal Reserve Chair Jerome Powell said ”inflation is still too high,” expectations that the U.S.
Pennsylvania Cigarette Markups Could Cost $47 Million per Year Skip to content Home • Blog • Pennsylvania Cigarette Minimum Markups Will Cost the State $47 Million per Year Minimum price markups may not be a taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to
In this article GM F Follow your favorite stocksCREATE FREE ACCOUNT Striking United Auto Workers (UAW) members from the General Motors Lansing Delta Plant picket in Delta Township, Michigan September 29, 2023. Rebecca Cook | Reuters DETROIT – The United Auto Workers union believes there is “more to be won” in ongoing contract negotiations with
In this article ASML-NL Follow your favorite stocksCREATE FREE ACCOUNT Dutch firm ASML makes one of the most important pieces of machinery required to manufacture the most advanced chips in the world. U.S. chip curbs have left companies, including ASML, scrambling to figure out what the rules mean in practice. Emmanuel Dunand | AFP |
A Siemens Gamesa blade factory on the banks of the River Humber in Hull, England on October 11, 2021. PAUL ELLIS | AFP | Getty Images As the biggest players in wind energy gear up to report quarterly earnings, supply-chain reliability issues are front and center for both stock analysts and industry leaders. Siemens Energy
Kate_sept2004 | E+ | Getty Images If you’re itching to save more into your 401(k) for 2023, your plan may have a feature that allows you to bypass the yearly deferral limit. For 2023, you can funnel $22,500 into your 401(k), plus an extra $7,500 if you’re 50 or older. But so-called after-tax contributions can
Lifestylevisuals | E+ | Getty Images The average 30-year fixed mortgage rate just hit 8% for the first time since 2000, putting housing financing costs at historically high levels. Given high prices and high interest rates, homebuyers must earn $114,627 to afford a median-priced house in the U.S., according to a recent report by Redfin,
A townhouse for sale in the Upper East Side neighborhood of NYC. Adam Jeffery | CNBC Sales of previously owned homes dropped 2% in September from August to a seasonally adjusted, annualized rate of 3.96 million units, according to the National Association of Realtors. Sales were 15.4% compared with September 2022. This is the slowest
Shoes are offered for sale at an Adidas store in Chicago, Feb. 10, 2023. Scott Olson | Getty Images Adidas on Tuesday hiked its full-year guidance and posted stronger-than-expected third-quarter earnings, aided by sales of its Yeezy inventory. The German sportswear giant, in a surprise preliminary estimates release, projected a full-year operating loss of 100
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