Sales of existing homes fell sharply in October, down 4.1% from September to a seasonally adjusted annual rate of 3.79 million. That’s the lowest level since August 2010. Year-over-year, sales fell 14.6%, according to the data from the National Association of Realtors. The median home price was $391,800, an increase of 3.4% from a year ago. Despite high mortgage rates hampering many potential buyers, NAR Chief Economist Lawrence Yun notes in the release that “multiple offers… are still occurring, especially on starter and mid-priced homes, even as price concessions are happening in the upper end of the market.” Yahoo Finance Live breaks down the report. For more expert insight and […]
OPEC+ member countries are expected to extend production cuts at its meeting on Sunday, November 26, which could send oil prices flying. Yahoo Finance Senior Reporter Ines Ferré examines trends in crude oil futures (CL=F, BZ=F) and forecasts for oil supply and US gas prices (RB=F). For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Subscribe to Yahoo Finance: https://yhoo.it/2fGu5Bb #oil #youtube #stockmarket About Yahoo Finance: At Yahoo Finance, you get free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and mortgage rates that help you manage your financial life. Yahoo Finance Plus: With a […]
Many investors have grown a more bullish sentiment on the market following recent inflation prints and commentary from Federal Reserve leadership, expecting regulators to reach their 2% inflation target and begin to see more of a recovery. Several events continue to weigh on the US and global economies, including conflicts in the Middle East, high mortgage rates, and a slow-moving Congress. BlackRock Chief Investment Strategist Wei Li joins Yahoo Finance to discuss the recent rally in the stock market, gains in Big Tech stocks, and why investors need to pay closer attention to the market, believing their bullish sentiment to be misguided. Li expects the Fed to begin cutting interest […]
Dick’s Sporting Goods (DKS) shares are putting in the green Tuesday morning after reporting a third-quarter earnings beat. The sports retailer raised its full-year outlook after putting up with retail theft concerns and profit pull-backs in 2023. Wells Fargo Equity Research Analyst Will Gaertner calls this earnings report very important for the brand, pointing to its private label brands as a big margin driver for retail customers. “Look, they clearly have momentum going into the holiday,” Gaertner tells Yahoo Finance. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Subscribe to Yahoo Finance: https://yhoo.it/2fGu5Bb About Yahoo Finance: At Yahoo […]
According to Deloitte’s Annual Black Friday-Cyber Monday survey, consumers plan to spend an average of $567 during Black Friday and Cyber Monday sales, up 13% from last year. While consumers seem to be ready to increase spending during this holiday season, wallets will certainly be hurt as inflation remains steady for necessities like food. Stacey Widlitz, SW Retail Advisors Chief International Store Hunter, joins Yahoo Finance to give insight into where consumers will be looking for the best deals and which retailers poised to capitalize on current economic trends during this holiday season. On where consumers are focused Widlitz explains: “Obviously consumers are spending on necessities, you know, we’re talking […]
Bond yields slip Monday afternoon after the Treasury Department’s auction revealed high demand. Yahoo Finance’s Jared Blikre analyzes the Treasury yields and their relationship with stocks amid the Fed’s current interest rate outlook. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Subscribe to Yahoo Finance: https://yhoo.it/2fGu5Bb About Yahoo Finance: At Yahoo Finance, you get free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and mortgage rates that help you manage your financial life. Yahoo Finance Plus: With a subscription to Yahoo Finance Plus get the tools you need to invest with confidence. Discover new […]
According to the CME Fedwatch tool, 30% of interest rate traders are pricing in the Fed’s first rate cut to come in March 2024. Verdence Capital Advisors Chief Investment Officer Megan Horneman joins Yahoo Finance Live to weigh in on a feasible timeline for a rate cut. Horneman predicts a rate cut in the second half of next year — possibly even as far out as 2025. Horneman refers to housing, services, and wage inflation as impacting factors that “are still growing on an annual basis well above what the Fed wants.” Horneman plainly points out her concern about rate optimism and insists “some pain in the economy” will be […]
Citigroup (C) has started trimming staff as part an ongoing reorganization, saying in a statement, “the actions we’re taking to reorganize the firm involve some difficult, consequential decisions, but we believe they are the right steps.” These cuts consist of about 300 senior managers, according to a report from Bloomberg. Citigroup CEO Jane Fraser announced in September her plan to restructure and slim down the banking giant. Yahoo Finance Senior Reporter David Hollerith explains the layoffs and what lies ahead for Citigroup. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Subscribe to Yahoo Finance: https://yhoo.it/2fGu5Bb #youtube #yahoofinance #bank […]
Oil prices (BZ=F, CL=F) have begun to trend upward after 4 weeks of losses ahead of an OPEC+ meeting this weekend. Geopolitical conflicts, production cuts, and easing US sanctions on Venezuelan oils have contributed to downward price moments. Does this mean there is an opportunity for investors to buy in? Marketgauge.com Chief Strategist Michele Schneider joins Yahoo Finance to discuss her recent note on crude oil and how it’s the new gold buy (GC=F) Schneider puts commodities in perspective to understand oil her stance on oil: “Everybody got so negative on the oil because there was a 20% drop, and I think that’s what’s so dangerous when you talk about […]
The US dollar has faced competing pressures, propelled in markets as a result of high-interest rates prompting inflows, yet also declining as belief grows that the Fed is done with its monetary tightening cycle. The dollar’s strength was spurred by aggressive Fed policy which impacted many emerging market currencies, but with the Fed potentially pausing hikes now, some experts see room for recovery in battered currencies like Argentina’s peso. Argentina faces immense economic hurdles with 143% inflation, negative foreign reserves, and the possibility of a recession. Yet hopes have pinned on newly elected President Javier Milei to lead a turnaround. A key part of his plan is shifting Argentina to […]
