Mortgage application volume wasn’t as stellar as it was last week as rates climbed slightly, but it was still up across the board on an annual basis. Total mortgage applications were down 3.4% from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. But volume was up 31.6% from the same week … Read more
Brent crude spiked more than 3% on Thursday on reports of tanker explosions in the Gulf of Oman near the Iranian coastline. In the early hours of European trading, the benchmark commodity went up as much as 4% before paring gains later in the day to trade at $61.97 a barrel. Tankers the Front Altair and … Read more
The U.S. Federal Reserve has sent a “very strong signal” that it’s ready to consider cutting interest rates, according to a former Fed governor. Sarah Bloom Raskin, who sat on the Fed board from 2010 to 2014, offered that analysis in light of Chairman Jerome Powell’s recent speech in which he said the central bank … Read more
Microsoft co-founder Bill Gates, Uber co-founder Travis Kalanick’s 101100 fund and current Uber CEO Dara Khosrowshahi have invested in Luminous, a small start-up building an artificial intelligence chip. The investment shows key figures in the technology industry believe there is still an opportunity for a new standard to emerge when it comes to hardware for … Read more
By Kim Iskyan – Publisher, Stansberry Pacific Research Sometimes simple is best – especially in investing. When you buy stock in a company, you’re buying shares – or, literally, a portion of the company. You’re a partner in the company. Would you become a part owner of a business that you didn’t understand? What’s simple … Read more
The sniping began shortly after Apple unveiled its new credit card with Goldman Sachs. In an elaborate presentation in March, Apple CEO Tim Cook revealed the biggest yet mash-up between the worlds of big tech and big finance, a card that supposedly reimagines consumers’ relationship with plastic. Rivals of the investment bank wasted no time … Read more
Fiat Chrysler and Renault, two automakers looking to curb costs producing vehicles and pool resources for developing the next generation of automobiles, are planning a merger to create the world’s third largest automaker. According to a statement from Fiat Chrysler Automobiles, the combined business would be owned 50/50 between shareholders of FCA and Groupe Renault. … Read more
The yield on the benchmark 10-year Treasury note fell to a 19-month low Tuesday as Wall Street grew more certain that the U.S.-China trade war will last longer and afflict GDP growth more than first thought. At around 8:31 a.m. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was … Read more
“Anyone can make money when stocks are moving higher. That’s not what our clients hire us for!” I distinctly remember my boss Bill telling me this one morning when the market was set to open lower. I was having a good year at that point and Bill wanted to make sure it stayed that way. … Read more
Target shares soared Wednesday after the retailer reported earnings and sales for its fiscal first quarter that topped analysts’ expectations, as it brought more people to its stores and convinced them to spend more money there. Target’s e-commerce sales also surged 42%, as shoppers increasingly turned to its curbside pickup service for online orders, something … Read more