Mortgage applications rose 0.8% in the last week, the Mortgage Bankers Association said. The average rate for a 30-year mortgage is 6.93%.
With Americans still hurting from weathering the highest inflation rate in 40 years, pocketbook issues look set to play a big role in Thursday night’s presidential debate between Joe Biden and Donald Trump.
Southwest Airlines Co.’s stock tumbled 10% premarket Wednesday, after the carrier lowered its second-quarter revenue guidance in a dynamic environment.
Oil futures rose Wednesday, finding support amid continued jitters over the potential for a broader Middle East conflict as traders awaited official U.S. data on crude and product inventories.
Societe Generale’s U.S. equity team says investors looking for the next leg of this stock rally will have to wait until early 2025.
A senior research economist at the Federal Reserve’s Cleveland branch, Randal Verbrugge, says the intrinsic characteristics of inflation make it unlikely to get down to the Fed’s 2% target in a timely way.
“We have no debt and live comfortably on $150,000 per year.”
Citadel founder Ken Griffin received a rare public apology from the Internal Revenue Service after his tax records were leaked.
