Mortgage demand jumps 10% as rates fall across the board
The numbers: U.S. mortgage applications surged as rates fell across the board in the last week. The 30-year mortgage rate was averaging at the lowest level in three weeks. A drop in rates boosted home-buying and refinancing demand. The overall market composite index — a measure of mortgage application volume — increased in the last […]
Pentagon awards satellite contracts: L3Harris, Lockheed, Sierra Space
Lockheed Martin’s Tranche 0 Transport Layer satellites are seen in one of the company’s processing facilities. Lockheed Martin The Pentagon on Tuesday announced about $2.5 billion in contracts will go to L3Harris, Lockheed Martin and Sierra Space to build satellites for an expanding military system. The U.S. Space Force’s Space Development Agency is having the […]
No rates cuts in 2024? Why investors should think about the ‘unthinkable’
One major Wall Street bank is weighing in on what it calls “an extreme scenario” in which no Group of 10 central bank cuts interest rates this year due to sticky inflation, strong economic growth or fresh shocks that push price gains higher. In a note on Tuesday, Athanasios Vamvakidis, a U.K.-based FX strategist at […]
Classic car auction site Bring a Trailer sales hit record $1.4 billion
1967 Porsche 910 Source: Bringatrailer.com Bring a Trailer, the popular online auction site for collectible cars, posted record sales in 2023, even as classic-car prices hit the skids. Bring a Trailer’s sales increased about 2% last year to over $1.4 billion from $1.35 billion in 2022, according to the company’s CEO Randy Nonnenberg. Bring a […]
Burger King owner Restaurant Brands buys Carrols, largest U.S. franchisee
Burger King fast food restaurant with menu and customers. Jeff Greenberg | Universal Images Group | Getty Images Restaurant Brands International is buying Carrols Restaurant Group, the largest Burger King franchisee in the U.S., for about $1 billion in cash. Restaurant Brands will pay $9.55 per share to acquire Carrols, which operates more than 1,000 […]
Opinion: These cannabis stocks and ETFs could benefit from federal marijuana law reforms
Cannabis stocks advanced sharply to start the week, after the nation’s leading health agency recommended sweeping changes to federal marijuana laws. Still, it’s up in the air whether the proposed changes will ultimately help cannabis companies and investors any time soon — if at all. Below, I’ll share key investor pros and cons in the major […]
JetBlue-Spirit merger block in win for Biden’s Justice Department
LaGuardia International Airport Terminal A for JetBlue and Spirit Airlines in New York. Leslie Josephs | CNBC A federal judge Tuesday blocked JetBlue Airways‘ purchase of Spirit Airlines after the Justice Department sued to stop the merger, saying the deal would drive up fares for price-sensitive consumers by taking the discount carrier out of the […]
Flight disruptions linger amid winter storms, Max 9 grounding
More than 320 flights have been canceled because of a winter storm that brought snow and freezing temperatures to Denver International Airport in Denver, Colorado, on Jan. 15, 2024. RJ Sangosti | Denver Post | Getty Images Airlines canceled more than 1,800 U.S. flights Tuesday as winter weather continued to disrupt travel for millions of […]
U.S. stocks lower Tuesday, after no ‘rush’ from Fed official on ’24 rate cuts
U.S. stocks are turning lowering as investors weigh corporate earnings and new comments from a Federal Reserve hawk suggesting interest rate cuts could happen this year, but with no urgency on the timeline. How stocks are trading The S&P 500 fell 13 points, or 0.2%, to 4,770 The Dow Jones Industrial Average lost 188 points, […]
Goldman Sachs (GS) earnings 4Q 2023
Goldman Sachs on Tuesday posted fourth-quarter results that topped analysts’ expectations on better-than-expected asset and wealth management revenue. Here’s what the company reported versus what Wall Street analysts surveyed by LSEG, formerly known as Refinitiv, expected: Earnings: $5.48 per share; it wasn’t immediately clear if that was comparable to the $3.51 estimate of analysts surveyed […]
