The recent data on mortgage interest rates reveals a slight decrease in average contract interest rates for 30-year fixed-rate mortgages. Despite this decrease to 6.82% from 6.87%, the rates are still not enticing enough to prompt potential homebuyers to make a move. While this is the lowest level since February of this year, there is
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In a recent report by Bank of America analysts, it was revealed that four of the world’s largest semiconductor equipment manufacturers, such as ASML, have experienced a significant increase in their China revenue since late 2022. The report highlighted that China has ramped up its purchases of semiconductor manufacturing equipment in response to tighter export
Alphabet, the tech giant, experienced a slight decline of 1% in extended trading despite beating both top and bottom line expectations in the second quarter. While the company reported earnings of $1.89 per share on $84.74 billion in revenue, which surpassed consensus estimates of earnings of $1.84 per share on $84.19 billion in revenue, the
Despite data pointing towards a strong U.S. economy, a significant portion of the population holds a different belief. A recent survey conducted by Affirm revealed that approximately 60% of Americans think that the country is currently in a recession. This perception is fueled by rising costs and financial difficulties faced by individuals, leading them to
Tesla is gearing up to announce its second-quarter earnings after market close on Tuesday. Analysts surveyed by LSEG are expecting earnings per share of 62 cents and revenue of $24.77 billion. This comes after a turbulent first half of the year for the electric vehicle maker, which included significant layoffs and a decline in vehicle
Recently, bipartisan lawmakers introduced a bill known as the “Pharmacists Fight Back Act” with the aim of addressing the controversial business practices of pharmacy benefit managers (PBMs) in the drug supply chain. The bill intends to tackle issues related to inflated prescription medication prices, unfair reimbursement to pharmacies, and the overall impact on U.S. patients
The housing market has experienced a significant slowdown, with sales of previously owned homes dropping by 5.4% in June compared to May. This decline resulted in 3.89 million units sold on a seasonally adjusted, annualized basis. Sales were also 5.4% lower than the same month last year, marking the slowest sales pace since December. Lawrence
Coca-Cola has adjusted its full-year outlook as global demand for its beverages has increased in the second quarter of the year. The company now expects organic revenue growth of 9% to 10%, which is higher than its previous forecast. Additionally, Coke has raised its outlook for comparable earnings growth to a range of 5% to
United Parcel Service recently reported its second-quarter financial results, which fell below expectations. The company’s profit and revenue were lower than anticipated, leading to a 7% drop in shares during premarket trading. UPS revised its 2024 revenue guidance to approximately $93 billion, down from the previous forecast of $94.5 billion. Additionally, full-year capital expenditures are
The launch of spot ether exchange traded funds is eagerly awaited by crypto enthusiasts who believe that it will increase the investor base for Ethereum. Ether, the cryptocurrency used in the Ethereum network, has a wide range of use cases that extend beyond bitcoin. A number of spot ether ETFs are set to begin trading