Even with declining mortgage rates, the number of pending home sales fell last month to the lowest level on record, a National Association of Realtors report reveals.NAR’s Pending Home Sales Index shows that the number of pending home sales dropped 5.5% in July and was down 8.5% compared with a year earlier, reaching the lowest level since the index was first established in 2001.A lot of this has to do with timing. While spring and summer are typically peak buying seasons, home sales have been muted due to persistently constrained supply and high home prices, which have pushed many would-be…
Author: usaeverydaylife
The fight against inflation was going well for the Federal Reserve and economy for much of last year and into 2024, but one important demographic remained unconvinced about the progress being made in lowering pricing: small business owners.Now, more influential parties are coming around to a view that small businesses have been stubborn in saying is closer to the on-the-ground truth: inflation isn’t coming down fast enough. On Wednesday, Federal Reserve Chair Jerome Powell conceded that after three months of disappointing data on inflation, there has been a “lack of further progress” this year. Market traders, who not long ago…
Aytac Unal/ | Anadolu | Getty ImagesThe monthslong Trump Media stock slide continued Wednesday, as shares of the company majority-owned by former President Donald Trump fell below $20 for the first time since the Truth Social maker went public more than five months ago.The stock price of DJT touched a low of $19.38 per share around midday, marking a drop of more than 75% from its intraday high on March 26, the day the company debuted on the Nasdaq stock exchange.Trump Media ended Wednesday’s trading session down more than 4% at $20.10 per share.Stock Chart IconStock chart iconTrump Media stock…
Ukrainian soldiers prepare a vehicle adapted to fire helicopter shells on Aug. 19, 2024. Anadolu | Anadolu | Getty ImagesWaves of Russian drones and missiles assailed Ukraine on Tuesday and killed at least five people, Ukrainian authorities said, in the second day of Moscow’s bolstered aerial attacks against its war-torn neighbor.Ukraine’s air force said it shot down five cruise missiles and 60 Iranian-made Shahed drones launched by Russian forces in areas including the Ukrainian capital of Kyiv and the Kherson, Mykolaiv, Kharkiv, Sumy and Zaporizhzhia regions, according to a Google-translated Telegram post.Two people were killed in the central Ukrainian city of…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailHyatt CEO Mark Hoplamazian joins ‘Money Movers’ to discuss their plans to acquire Standard International, the parent company of the Standard and Bunkhouse Hotels brands, and what this acquisition means for Hyatt.06:02Wed, Aug 21 202412:19 PM EDT Source link
Samsung Electronics’ fourth-generation high bandwidth memory or HBM3 chips have been cleared by Nvidia for use in its processors for the first time, three people briefed on the matter said.SeongJoon Cho | Bloomberg | Getty ImagesGlobal chip stocks fell on Thursday, after U.S. chip darling Nvidia reported fiscal second-quarter results that beat analyst expectations — but disappointed traders hoping for higher growth rates.While Nvidia posted better-than-expected earnings with revenues jumping 122% year-over-year, this still marked a slowdown from three consecutive quarters of annual growth rates exceeding 200% previously.In Asia, South Korean chipmakers SK Hynix and Samsung Electronics — which are…
Follow live coverage of day five at the 2024 US OpenFLUSHING, N.Y. — Against the blue and green of the Billie Jean King Tennis Center courts, the yellow ball careening between two rackets stands out.That’s before you see the yellow balls up in the stands. They’re still, but they’re bigger.Thursday morning on Court 7, a small but rapt crowd watched Diana Shnaider, the No. 18 seed from Russia who is having the kind of year that makes tennis fans take notice. She was taking apart the Dane, Clara Tauson, who in 2022 was roughly where Shnaider is now before a…
Geely-backed Zeekr is releasing an electric SUV in direct competition with Tesla’s Model Y.ZeekrElectric vehicle company Zeekr announced Friday that it would launch its first SUV in China next month, undercutting Tesla’s Model Y pricing in the country by over $1,400.The Zeekr 7X, priced at 239,900 yuan ($33, 829), is the Chinese EV maker’s first midsize electric SUV and will be launched on Sept. 20.It’s the latest Chinese EV to take on Tesla’s Model Y, which has also been challenged by Xpeng and Nio. Zeekr plans to deliver the 7X globally by the end of this year. It said the…
Warren Buffett tours the grounds at the Berkshire Hathaway Annual Shareholders Meeting in Omaha Nebraska.David A. Grogan | CNBCWarren Buffett’s Berkshire Hathaway reached a $1 trillion market capitalization on Wednesday, the first nontechnology company in the U.S. to score the coveted milestone.Shares of the Omaha, Nebraska-based conglomerate have rallied more than 28% in 2024, far above the S&P 500’s 18% gain. The $1 trillion threshold was crossed just two days before the “Oracle of Omaha” turns 94 years old.The shares were up 0.8% to $696,502.02 on Wednesday, allowing it to top the $1 trillion mark, per FactSet.The milestone “is a…
Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Thursday’s key moments. The S & P 500 advanced 0.7% Thursday, despite tech behemoth Nvidia’s post-earnings decline. Shares of the AI chipmaker tumbled 3.5% after the company handily beat estimates on the top and bottom lines Wednesday. At issue: Nvidia couldn’t quite meet their analysts’ lofty estimates for the company’s full-year outlook on gross margins. “This was the mortal Jensen Huang,” Jim Cramer said of the company’s chief exec. He added that his long-term thesis on the stock…
