A For Sale sign sits in front of a home on May 12, 2025 in Miami, Florida. Joe Raedle | Getty ImagesMortgage demand from homebuyers rose for the second straight week, suggesting that potential buyers are now more enticed by the increasing supply of houses for sale than they are dissuaded by recent economic uncertainty and concern over tariffs.Total mortgage application volume rose 1.1% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances, $806,500 or less, increased to 6.86% from 6.84%,…
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Here are Wednesday’s biggest calls on Wall Street: JPMorgan upgrades Sea Limited to overweight from neutral JPMorgan upgraded the Singapore tech conglomerate following earnings. ” SE’s strong 1Q25 results allay our concerns on macro headwinds and underscore the strength of SE’s ecosystem in delivering growth and margin improvement.” Evercore ISI initiates Centrus Energy as outperform Evercore said the nuclear energy company is a “must own.” ” Centrus Energy is a provider of nuclear fuel components and services, pioneering the domestic production of High Assay Low-Enriched Uranium (HALEU) a necessary fuel component used to power next generation nuclear reactors supporting more…
Heinz ketchup is displayed on shelves at a Walmart SuperCenter on August 02, 2023 in Austin, Texas.Brandon Bell | Getty ImagesKraft Heinz is spending $3 billion to upgrade its U.S. factories, its largest investment in its plants in a decade, even as executives say consumer sentiment is at its second-lowest point in 70 years, and it has cut sales and profit forecasts.The upgrades will help lower costs by making the plants more efficient, which in turn may help offset President Donald Trump’s tariffs, which factored into the company’s decision to make the investment, said Pedro Navio, Kraft Heinz’s president of…
Perplexity is extending its bet on chat-powered shopping, aiming to stand out in the crowded generative artificial intelligence market against OpenAI, Anthropic, and Google.The company said on Wednesday that it’s partnering with PayPal to let users make purchases directly in chat. U.S. customers will soon be able to book travel, buy products, and secure concert tickets without leaving the platform.Payments will be completed in the chat with PayPal or Venmo, and PayPal will handle processing, shipping, tracking, and invoicing. Purchases will be completed with one click, with the help of the payment company’s passkey checkout.”Perplexity wants to be wherever users…
As he called to order a marathon committee session to consider Medicaid cuts and other critical pieces of Republicans’ sweeping domestic policy bill, Representative Brett Guthrie of Kentucky surveyed a packed hearing room on Tuesday afternoon and asked for a respectful debate.“I know we have deep feelings on these issues, and we may not all agree on everything,” said Mr. Guthrie, a Republican who is in his first term as chairman of the House Energy and Commerce Committee.It was not to be.Minutes later, a group of protesters in the back of the Capitol Hill hearing room began shouting at lawmakers…
Morgan Stanley moved off the sidelines on KKR after the China-U.S. trade deal sweetened the macro outlook. Analyst Michael Cyprys upgraded shares of the investment management firm to overweight from equal weight and hiked his price target by $30 to $150. Cyprys’ new target implies upside of 18.2% over Tuesday’s close. Cyprys’ call comes after the U.S. and China agreed to temporarily slash reciprocal levies on one another following weekend negotiations. The announcement eased investor fears of a trade war between the two countries and sparked a major market rally in U.S. stocks on Monday. “[We’re] leaning into risk ……
An employee works at a pink salt production site on Lake Sasyk-Sivash near Yevpatoria, on September 21, 2023. Stringer | Afp | Getty ImagesA landmark resources deal between the U.S. and Ukraine is expected to lay the ground for further so-called “minerals for muscle” agreements.Washington and Kyiv signed a highly anticipated minerals deal earlier this month. The agreement, which has since been ratified by Ukrainian lawmakers, is designed to deepen economic ties, bolster Ukraine’s reconstruction and position the country as a supplier of strategically important minerals to the U.S.Long coveted by U.S. President Donald Trump, the partnership followed months of…
Airbnb CEO Brian Chesky joins ‘Squawk Box’ to discuss the launch its redesigned app, the debut of services and experiences within the app, the company’s remote work policy, and more. Source link
More than 70% of Baidu Apollo Go robotaxi rides in Wuhan were fully driverless as of April, and the company said in May it expected 100% of the rides to be completely autonomous in coming quarters.Bloomberg | Bloomberg | Getty ImagesBEIJING — Chinese tech company Baidu’s Apollo Go robotaxi business plans to expand to Europe this year, according to a source familiar with the matter.Over the coming months, Apollo Go plans to open an entity in Switzerland and launch operations locally and in Turkey, said the source, who could only comment anonymously because of the sensitivity of the matter.Baidu declined…
A CATL logo is displayed on a smartphone screen with a Hong Kong Stock Exchange (HKEX) logo in the background on May 7, 2025 in Chongqing, China. Li Hongbo | Visual China Group | Getty ImagesChinese battery maker CATL is set to price its shares at HK$263 ($33.70) each and increase the size of the company’s Hong Kong listing, according to two sources with direct knowledge of the matter, raising about $4.6 billion.It would be the largest listing globally in 2025, according to LSEG data.Prospective investors have been told orders for CATL stock made below HK$263 per share risk missing out on allocations, the sources added.A so-called offer size adjustment option to increase the number of shares on sale by 17.7 million is set be exercised,…
