Recent data indicates that mortgage interest rates have decreased to the lowest level in several years, prompting a significant increase in mortgage demand from both prospective homebuyers and existing homeowners. This decline in interest rates has resulted in a notable surge in total mortgage application volume, with the Mortgage Bankers Association’s seasonally adjusted index showing
The recent weaker-than-expected economic data has raised concerns about the need for an emergency rate cut by the U.S. Federal Reserve. However, Claudia Sahm, chief economist at New Century Advisors, argues that such drastic measures may not be necessary at the moment. Sahm emphasizes that while there is a case for a 50-basis-point cut, there
In a time of market uncertainty and volatility, investors are constantly seeking ways to protect and grow their investment portfolios. According to Joanna Gallegos, co-founder and CEO of BondBloxx, bonds can play a crucial role in navigating these turbulent times. Gallegos recommends focusing on income and high-yield bonds as a way to diversify and manage
SunPower, a once-prominent rooftop solar installer, has filed for bankruptcy after a prolonged period of financial turmoil. The company’s stock plummeted by 32% to a mere 55 cents per share, marking a colossal decline of nearly 90% over the course of the year. This dramatic turn of events is a stark reminder of the perils
The recent increase in the unemployment rate has raised concerns among economists, particularly in relation to the growing number of marginally attached workers. These individuals are available and willing to work but have not actively searched for employment in the past month. This rise in marginally attached workers poses a potential risk of transition into
Disney recently announced that it will be increasing the prices of its popular streaming platforms, including Disney+, Hulu, and ESPN+. Starting in mid-October, most subscription plans will see a price increase of $1 to $2 per month. The most notable increase will be on Hulu’s plans that include live TV, which will now cost $6
Yum Brands recently reported its quarterly financial results, which showed a mixed performance. The company’s earnings per share were $1.35 adjusted, slightly surpassing the analyst’s expectations of $1.33. However, its revenue of $1.76 billion fell short of the anticipated $1.8 billion. The net income for the second quarter was $367 million, or $1.28 per share,
Uber has recently announced its second-quarter earnings report, surpassing the expectations of Wall Street analysts. The company reported earnings per share of 47 cents, exceeding the anticipated 31 cents. Additionally, Uber’s revenue stood at $10.7 billion, higher than the expected $10.57 billion. This represents a 16% increase from the previous year’s revenue of $9.23 billion.
Saudi Aramco, the state oil giant, reported a net profit of $29.1 billion for the second quarter of the financial year, showing a slight decrease of just over 3% compared to the same period last year. The decline in profits can be attributed to the low crude production volumes that the company experienced during this
India is projected to experience the most rapid expansion in ultra high net worth individuals worldwide over the coming years, according to consultancy Knight Frank. This comes as no surprise given the surge in India’s ultra-wealthy population, with a net worth exceeding $30 million, which increased by 6.1% to 13,263 individuals in 2023. The ultra-wealthy