Mortgage applications have jumped to the highest levels since July 2022, driven by homeowners seeking to refinance their loans as rates drop. Applications to refinance or purchase a home in the week that ended Sept. 20 rose 11% week over...
Stocks finished close to where they started Tuesday as investors expressed uncertainty over the size of the Federal Reserve’s expected rate cut, which is scheduled to be announced Wednesday at the conclusion of the widely anticipated policy meeting. The Dow...
The Federal Reserve unveiled plans that would massively scale back a proposal to raise capital requirements for banks after politicians and the banking industry pushed back on the initial plan, warning it could restrict lending and hurt the economy. The...
The Federal Reserve is nearing the end of an era as the central bank looks to cut interest rates for the first time in four years. If the Fed eases monetary policy at its next meeting on Sept. 18 as...
It’s been the ultimate no-brainer for more than a year: Park your money in super-safe Treasury bills, earn yields of more than 5%, rinse and repeat. Or as billionaire bond investor Jeffrey Gundlach put it last October, “T-bill and chill.”...
There are glimmers of hope in the U.S. housing market, and ambitious buyers might finally find what they’re looking for in coming months, according to reports released Thursday. To be sure, the reports look pretty grim. Sales of previously-owned homes...
Federal Reserve Chair Jerome Powell sent a straightforward message to markets in a key speech on Friday, saying “the time has come” for the central bank to begin lowering interest rates. Speaking at the Kansas City Fed’s annual economic symposium...
Gregg Abella, a money manager in New Jersey, wasn’t expecting the flood of phone calls he got from clients this past week. “Suddenly people are saying to us, ‘Wow, do you think it’s a good time for us to add...
Central bankers are independent of the White House as they set interest rates. But the political cycle can put them under unwanted limelight. Federal Reserve officials are widely expected to embark upon a rate-cutting campaign in the coming months, bringing...
The Federal Reserve held interest rates steady Wednesday but hinted that it is nearer to easing monetary policy as it cited “some further” progress on inflation and Fed Chair Jerome Powell told reporters a September cut “could be on the...
Federal Reserve Chair Jerome Powell said Tuesday that he is encouraged by cooler inflation but reinforced that the central bank will need to see more evidence before cutting interest rates. The last two inflation readings in April and May “do...
Retail sales increased at a slower-than-expected pace in May as high interest rates and inflation continued to weigh on consumers. Retail sales increased 0.1%, less than the 0.3% economists had expected. In April, retail sales ticked down 0.2%, according to...
They did everything right — spreading out bets far and wide across bonds and equities in case things went south. Now, after heeding Wall Street’s mantra to diversify for the long haul, these investors are watching with envy as the...
Nvidia led global companies in market cap gains in May, buoyed by a stunning rally as its bumper revenue forecast reinforced investor confidence in the AI-driven surge in chip demand. Nvidia’s market cap soared to $2.69 trillion at the end...
Home-price growth in 20 major US cities picked up pace in March, pressuring buyers as the key selling season kicks into gear. Prices in a measure of 20 cities increased 7.4% from a year earlier, larger than the 7.3% annual...
