Author: Press Room
Mortgage rates pushed further into the 7% range as the Federal Reserve seems unlikely to reverse its restrictive policy stance anytime soon, according to Freddie Mac. The average 30-year fixed-rate mortgage was 7.22% for the week ending May 2, according to Freddie Mac’s latest Primary Mortgage Market Survey. That’s an increase from the previous week when it averaged 7.17%. A year ago, the 30-year fixed-rate mortgage averaged 6.39%. The average rate for a 15-year mortgage was 6.47%, up from 6.44% last week and up from 5.76% last year. On Wednesday, the Fed announced it would maintain the federal funds rate at 5.25% to 5.5%,…
OMAHA, Nebraska — Many Berkshire Hathaway shareholders left last weekend’s annual meeting pondering Warren Buffett’s big revelation about succession. The Oracle of Omaha on Saturday told an arena full of shareholders that his designated successor Greg Abel will have the final say on all of Berkshire’s investment decisions when Buffett is no longer at the helm. “I would leave the capital allocation to Greg … he understands businesses extremely well,” Buffett said. “If you understand businesses, you’ll understand common stocks.” That single comment sparked a lot of conversation among Buffett’s loyal followers. Some interpreted it to mean that Abel, vice chairman of non-insurance operations,…
Hamas said it told Egyptian and Qatari negotiators that it has approved a cease-fire proposal to halt the war in Gaza, according to a press statement.Israel did not confirm whether it would accept or reject the deal that Hamas approved.”We are exploring every single thing that we hear and we are exhausting the potential about negotiations and bringing back the hostages and that is our main mission to bring them home as quickly as possible,” Israel Defense Forces Officer Daniel Hagari said at a press briefing following Hamas’ announcement. “But in parallel, we are continuing to act in an operational…
Former Starbucks CEO Howard Schultz might have left the coffee giant several months ago, but he’s still offering critiques of the company he ran for about 25 years over three stints. Following the release of Starbucks’ dismal earnings, Schultz wrote on his LinkedIn account that he was asked by “people inside and outside the company” about his thoughts that the chain’s US operations are the “primary reason for the company’s fall from grace” and encouraged executives to spend more time with its cafe employees. “The stores require a maniacal focus on the customer experience, through the eyes of a merchant. The answer…
Source: unsplash.com April has been up and down and investors are struggling to keep up. Volatility in the market is on a high and this can prevent investors from making any reasonable decisions. Factors that influence a decision for investors can quickly change and investors have to start the process all over again. As the market starts to show some stability, investors are moving to make the most profitable decisions, especially for the long term. For Chainlink (LINK) and Cardano (ADA) investors, this is investing in a new token, Kelexo (KLXO) for its anticipated 20X returns. Our analysis determines trends in either…
In today’s big story, the top habits of financially free people could serve as inspiration for what to do with your tax rebate.But first, what to do with that money from Uncle Sam.If this was forwarded to you, sign up here.The big storyTax timeSpring has nearly sprung. The blooming flowers and warmer weather probably have you thinking of one thing: Filing your taxes.In reality, tax season can be a pain, but at least there’s new free software to do it, thanks to the IRS.For many filers, there is a light at the end of the tunnel in the form of…
Johnson, the multimillionaire founder of payments company Braintree, posted pictures on X showing his facial transformation over the years with the caption, “Even my Face ID is confused. I’m transitioning….” X users reacted quickly with their thoughts — which weren’t exactly supportive.One X user wrote, “tries to stop aging…. Proceeds to age quicker.” Others were a bit more encouraging. “You look good in all these photos. The thing is that in 2018 you looked more natural,” another user wrote.Since 2021, Johnson, who is 46, has been on a rigorous campaign to reverse his biological age. His routine includes taking dozens…
An eventful week ended in little net movement – the S&P500 (SPY) closed just +28 points higher. However, the combination of a dovish FOMC and softer labor market readings did help drive a strong Thursday and Friday. The lack of a further rally could simply be a case of stopping the clock on the action at Friday’s close. As last weekend’s article concluded, “the bounce can break above 5108 resistance. This likely targets 5168-74 where another leg lower should set up.” This weekend’s article will look at the next probable swings in what is becoming a complex pattern. It will…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Israel’s far-right government has voted to shut down Al Jazeera, the Qatari-funded satellite channel, and prevent it operating in the country, accusing it of being a “mouthpiece for Hamas” and a threat to national security. The motion was passed unanimously during a cabinet meeting on Sunday, with Prime Minister Benjamin Netanyahu stating: “Al Jazeera reporters harmed Israel’s security and incited against [Israel Defense Forces] soldiers. It’s time to remove the Hamas mouthpiece from our country.”Israel’s communication minister Shlomo Karhi said in a…
The Biden administration paused a shipment of US-made ammunition to Israel, according to a source familiar with the matter, who did not disclose why the decision was made. The hold is not connected to a potential Israeli operation in Rafah and doesn’t affect other shipments moving forward, the source said. Asked about the paused shipment, a National Security Council spokesperson cited ongoing security assistance to Israel. “The United States has surged billions of dollars in security assistance to Israel since the October 7 attacks, passed the largest ever supplemental appropriation for emergency assistance to Israel, led an unprecedented coalition to…
