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US existing home sales rise in May; mortgage rates still a constraint
U.S. existing home sales unexpectedly increased in May, but the trend remained weak amid high mortgage rates. Home sales climbed 0.8% last month to a seasonally adjusted annual rate of 4.03 million
May home sales barely move as high mortgage rates, prices, weigh on housing market
Sales of previously occupied U.S. homes edged higher in May, as stubbornly high mortgage rates and rising prices made homebuying less affordable even as the inventory of properties on the market
Why markets are weirdly calm after the US bombed Iran
Investors expected choppy markets on Monday after the US bombed Iran on the weekend, but trading was muted due to uncertainty, timing, and optimism.
Compass sues Zillow, escalating private listings fight
After relentlessly defending “seller choice,” Compass has filed suit against Zillow over private listings, with CEO Robert Reffkin claiming that the home search site is “abusing its monopoly power to
Fed's Powell brings blunt message to Congress on interest rates this week
The Greek chorus of Fed watchers calling for an immediate interest rate cut this summer is growing. This may include your household as it is battered by high mortgage bills and credit-card rates plus
US stocks near flat, eye Iran response to US strike. Hormuz Strait closure seen unlikely
US stock open little changed, awaiting Iran's response to US strikes. Oil prices off 5-month highs. Strait of Hormuz closure is seen unlikely for now.
Cathie Wood buys $31.8 million of surging AI stock
Cathie Wood, chief of Ark Investment Management, often aggressively invests in high-flying tech stocks she sees as future game-changers. She buys even as stock prices surge, betting that long-term
Rising Oil Prices Could Spike Another 30% If Iran Blocks Strait Of Hormuz, Goldman Warns
Already up 15% over the last two weeks, prices for the Brent crude oil international benchmark could soar to its highest level in years if Iran blocks a key oil chokepoint.
Businesses face rising inflation due to tariffs. Will consumers get hit next?
The cost of doing business for U.S. companies rose in June at the second fastest pace in two and a half years, a pair of S&P surveys showed, reflecting ongoing inflation pressures tied to high Trump
The S&P 500 could hit record highs soon if no major retaliation from Iran, Wharton professor Jeremy Siegel says
Wharton economist Jeremy Siegel predicts that US markets can reach new highs if the conflict cools, with the S&P 500 reaching records in the coming weeks.
Home sales remain sluggish as some ‘stubborn sellers’ refuse to give in on price
Sales of existing homes inched up slightly in May but remained depressed as buyers shied away from a housing market that features painfully high interest rates and home prices.
Walmart's Sam's Club and Costco make key pricing moves
The two warehouse chains are both trying to be ports in the storm for members during the current economic uncertainty.
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