Home prices just fell the most in 2 years
Erin Sykes, chief economist at Nest Seekers International, weighs in on “The Bottom Line” as high interest rates continue to hurt the housing market. The housing market may finally be shifting in buyers’ favor. In a positive sign for homebuyers, the proportion of listings that were reduced in price in July jumped to 18.9%, up […]
Buffett’s Berkshire currently holding more short-term US Treasury bills than the Federal Reserve
Fisher Investments founder Ken Fisher analyzes recent stock market movements on “Making Money.” Warren Buffett’s Berkshire Hathaway currently holds a vast amount of short-term U.S. Treasury securities, more than the amount held by the Federal Reserve. In its latest earnings report, the bank said it holds $234.6 billion in short-term Treasury bills, up from $130 […]
Mortgage rates fall sharply to lowest level in over a year
Erin Sykes, chief economist at Nest Seekers International, opines on “The Bottom Line” that high interest rates continue to hurt the housing market. Mortgage rates plummeted to their lowest levels in more than a year this week, boosting demand in the housing market. Freddie Mac’s latest primary mortgage market survey released Thursday showed that the […]
JPMorgan boosts odds of a US recession this year to 35%
Claudia Thurm, chief economist at New Century Advisors, talks to “Varney & Company” about the Fed’s next interest rate move. JPMorgan Chase analysts said U.S. Economy The economy will be in recession by the end of the year. In an analyst note on Wednesday, JPMorgan economists led by Bruce Kassman raised the chance of a […]
Jobless claims rise less than expected to 233,000
On “Making Money,” Piper Sandler Chief Global Economist Nancy Lazar discusses whether the U.S. economy is doing as well as earnings suggest. How many Americans are applying? Unemployment benefits Last week’s weaker-than-expected employment report came in, which may ease some concerns about the health of the labor market following disappointing July employment data. The figures […]
Rumble CEO joins Musk’s advertising antitrust suit going after ‘harmful monopoly’
Rumble CEO and founder Chris Pavlovski explains why his company and other platforms are taking action against the illegal advertising tactics used by Google. Social media platform Rumble joins the fray Elon Musk’s X The company filed a lawsuit against the Global Alliance for Responsible Media (GARM), alleging that the global advertising group is violating […]
After a Pay Boom, Raises Are Shrinking
University of Maryland economist Peter Morici weighs in on whether Wall Street investors believe the economy is doing better under Biden than Varney and others expected. The days of big wage increases are over, with companies already planning to cut pay increases next year. The decline in pay raises, along with last week’s lackluster jobs […]
Mortgage rates drop to lowest level since May 2023
Key Metrics Home purchase Applications surged last week as mortgage rates fell to their lowest levels in more than a year. Mortgage Bankers Association (MBA) Home loan application New data released Wednesday showed mortgage rates rose 6.9% in the week ending Aug. 2. At the same time, the average rate on the popular 30-year mortgage […]
Credit card debt hits another record high
FOX Business’ Jerry Willis reports on the “uncontrollable” costs of reopening schools and how much families can expect to spend this year. Americans are increasingly turning to credit cards to cover everyday expenses, with debt hitting an all-time high at the end of June, according to a report released Tuesday by the New York Federal […]
Boeing door plug hearings put embattled planemaker under NTSB scrutiny
A briefing was held in Renton, Washington, on Tuesday in which details were provided about the supplier’s “deficiencies.” Two days of hearings by the National Transportation Safety Board (NTSB) are set to begin on Tuesday, focusing on the January door plug explosion on an Alaska Airlines Boeing 737-9 MAX. Elizabeth Lund, Boeing’s senior vice president […]