The recent drop in mortgage rates to the lowest level since March has caused a significant surge in refinancing applications. According to data from the Mortgage Bankers Association, applications to refinance a home loan saw a 15% increase last week compared to the previous week. This spike in demand brings refinancing activity to the highest
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Adidas experienced a surge in its shares following the announcement of an increase in its full-year 2024 earnings guidance. The company has raised its expected operating profit to approximately 1 billion euros, up from the initial estimate of 700 million euros. This upward revision in earnings guidance has instilled confidence in investors, leading to a
ASML recently reported its second-quarter earnings and sales, surpassing forecasts and indicating a positive trend in the semiconductor market. The Dutch firm recorded net sales of 6.24 billion euros, higher than the expected 6.03 billion euros, and net profit of 1.58 billion euros, exceeding the forecasted 1.43 billion euros. This performance was particularly notable as
The International Monetary Fund (IMF) recently issued a warning regarding the increased upside risks to inflation, causing doubts about the possibility of multiple interest rate cuts by the Federal Reserve this year. According to the IMF’s latest World Economic Outlook update, there has been a slowdown in global disinflation momentum, indicating potential obstacles ahead. The
Gold prices surged to a record high on Tuesday as anticipation of a September interest rate cut fueled demand for bullion. Gold futures climbed 1.5% to $2,465.30, surpassing the previous peak of $2,454.20 set in May. Spot gold hit an all-time high of $2,465.19 during the session, marking a significant milestone in the precious metal’s
Bank of America reported second-quarter revenue and profit that exceeded expectations, showcasing a strong performance in investment banking and asset management fees. The earnings per share came in at 83 cents, surpassing the estimated 80 cents per share by LSEG. Additionally, the revenue reached $25.54 billion, beating the estimated $25.22 billion. Despite a 6.9% decrease
New Balance announced a new multiyear deal with the WNBA, signaling its commitment to women’s sports. This partnership will make New Balance an official partner of the WNBA, adding to a growing list of backers for the league. The deal includes broadcast, digital, and retail content featuring Los Angeles Sparks rookie forward Cameron Brink. This
In recent years, there has been a concerning trend in workplace engagement as more and more employees are becoming disengaged from their work and workplace. According to a 2023 Gallup poll, only one-third of full- and part-time employees are engaged, while approximately 50% are not engaged, and the remaining 16% are actively disengaged. This shift
Morgan Stanley has reported impressive second-quarter financial results, surpassing analysts’ expectations in both profit and revenue. The company reported earnings of $1.82 per share, exceeding the $1.65 per share estimate, and revenue of $15.02 billion, well above the $14.3 billion estimate. This significant outperformance can be attributed to the robust trading and investment banking results
Small-cap stocks have been gaining momentum in the current market conditions, outperforming megacap technology shares. The Russell 2000 index, which serves as a benchmark for small-cap stocks, experienced a notable 1% increase on Tuesday, reaching its highest level since January 2022. This surge follows a trend of positive movement, with the index showing potential for