Philadelphia Federal Reserve President Patrick Harker has made it clear that he fully endorses the idea of an interest rate cut in September. His statement during a recent interview with CNBC at the Fed’s annual retreat in Jackson Hole, Wyoming, leaves no room for ambiguity. Harker’s views point towards a strong inclination towards monetary policy
The National Association of Realtors reported a 1.3% rise in closed sales of previously owned homes in July compared with June, marking the first increase in five months. However, sales were still down by 2.5% compared to the same time last year. The Northeast experienced the largest gains in sales, while the Midwest remained relatively
Shares of Danish biotech company Bavarian Nordic surged by 13% following the announcement of better-than-expected earnings for the second quarter and a significant vaccine order from an undisclosed European country amidst the ongoing mpox outbreak. The company reported revenues of 1.43 billion Danish krone and an operating profit of 420 million krone, surpassing analyst estimates.
The future of Paramount Global hangs in the balance as a fierce bidding war ensues between Skydance and Edgar Bronfman Jr. Paramount’s special committee recently announced the extension of a “go shop” period to further evaluate the competing offer from Bronfman. The initial bid of $4.3 billion escalated to a whopping $6 billion in a
After diligently contributing to pretax retirement accounts throughout your working years, you will eventually come face-to-face with required minimum distributions (RMDs) in retirement. These mandatory withdrawals can pose a challenge for retirees who do not necessarily need the money right away, especially since they can result in higher taxes. However, financial experts suggest that RMDs
The rise of online sports betting has been a double-edged sword, particularly for financially distressed individuals. A recent paper titled “Gambling Away Stability: Sports Betting’s Impact on Vulnerable Households” highlighted the negative consequences that come with the rapid expansion of sports betting following the Supreme Court’s overturning of a federal prohibition in 2018. The paper
The recent decrease in mortgage rates has led to a surge in refinancing activity in the housing market. However, despite rates falling for the third consecutive week, applications to refinance a home loan dropped by 15% from the previous week. This decline may be attributed to the fact that applications were 90% higher compared to
Ford Motor’s recent announcement about delaying production of a next-generation all-electric pickup truck and canceling plans for a three-row electric SUV signifies a significant shift in focus for the company. Instead of pursuing these specific electric vehicles, Ford has decided to prioritize the development of hybrid models and electric commercial vehicles. This decision reflects Ford’s
Lowe’s recent cut in its full-year forecast highlights the challenges it faces due to declining quarterly sales and weak projections for home improvement spending in the second half of the year. The company’s total sales forecast has been lowered to between $82.7 billion and $83.2 billion, a significant decrease from the previously expected $84 billion
The Stocks @ Night newsletter provides information on Elliott Management’s recent activist campaigns, highlighting the firm’s extensive involvement in various companies. It mentions Elliott’s investment in Texas Instruments, Southwest Airlines, and Starbucks, detailing the stock performance of each company following the investments. However, the newsletter fails to provide a comprehensive analysis of the potential impact
