Author: Press Room

Oil futures fell on Monday, with U.S. prices ending below $80 a barrel for the first time in more than week as investors returned from a three-day Easter weekend. Crude prices had surged in holiday-shortened trading last week after the Organization of the Petroleum Exporting Countries and its allies announced an unexpected round of production cuts.Price actionMarket drivers WTI… Read the full article here

The numbers: Mortgage rates dipped for the fifth week in a row, giving would-be home buyers a boost as the cost of borrowing eases. The 30-year fixed-rate mortgage averaged 6.27% as of April 13, according to data released by Freddie Mac FMCC on Thursday.  The 30-year was at the lowest level in two months. That’s… Read the full article here

Series I bonds had a good two-year run at the top of the interest-rate heap, but the next 6-month rate that will be announced on May 1 is likely to fall so low that buyers probably won’t show up in record-breaking numbers.  I-bonds are priced based on two factors: a variable rate based on six months of inflation data (from October through March) and a fixed rate that is less transparently calculated. The latest CPI numbers for March indicate that the variable rate is going to pan out at an annualized rate of 3.38%, down from… Read the full article…

© Reuters. FILE PHOTO: A Tesla logo is seen at a groundbreaking ceremony of Tesla Shanghai Gigafactory in Shanghai, China January 7, 2019. REUTERS/Aly Song/File Photo (Reuters) – Tesla (NASDAQ:) Inc has put up five proposals for vote at its annual shareholder meeting on May 16, including the nomination of co-founder JB Straubel to the electric-vehicle maker’s board. The proposals – disclosed in a filing on Thursday – also contain one investor resolution for the preparation of a key-person risk report from the company whose reliance on CEO Elon Musk has raised concerns. Tesla shareholders usually vote largely in line…

By Peter Nurse Investing.com — Oil prices weakened Thursday, with growing fears that the U.S. economy will fall into recession later this year causing traders to bank profits after recent gains. By 08:30 ET (12:30 GMT), futures traded 0.4% lower at $82.97 a barrel, while the contract fell 0.4% to $87.00 a barrel. Both benchmarks had risen 2% on Wednesday to their highest in more than a month as cooling spurred hopes that the U.S. will stop raising interest rates. However, from the Fed’s last policy meeting suggested that the policymakers were concerned that stress in the banking sector would…

By Karen Brettell NEW YORK (Reuters) – The dollar fell on Wednesday after data showed U.S. consumer prices rose less than expected in March, raising expectations that the Fed is likely to stop hiking rates after a possible increase in May. The Consumer Price Index (CPI) climbed 0.1% last month, below economists’ expectations for a 0.2% gain, and down from a 0.4% increase in February. In the 12 months through March, the CPI increased 5.0%, the smallest year-on-year gain since May 2021. The CPI rose 6.0% on a year-on-year basis in February. Excluding the volatile food and energy components, the…

By Fergal Smith TORONTO (Reuters) -The Bank of Canada is expected to take in stride surprising recent economic strength and leave interest rates unchanged at its meeting on Wednesday, pinning its hopes on activity cooling as higher borrowing costs sink in, analysts said. Last month, the Bank of Canada became the first major global central bank to pause its rate-hiking campaign, after lifting its benchmark rate to a 15-year high of 4.50%. It said no further tightening would be needed if the economy slows, or even moves into a slight recession, as it expects. While inflation has cooled in recent…

Key News Overnight the Hang Seng Index and the Hang Seng Tech closed at +0.17% and -0.17% after US-listed China ADRs fell more than -4% yesterday! Let’s compare how Hong Kong’s most heavily traded closed in Hong Kong today versus their US-listed ADRs yesterday: Tencent gained +1.68% versus a -5.42% drop, Alibaba HK fell -1.98% versus a -5.93% drop, and Meituan closed flat at -0.08% versus a -5.61% drop. Other Hong Kong internet stocks versus their US ADRs were JD.com HK -2.03% versus -7.65%, Baidu HK +0.07% versus -0.21%, NetEase HK +0.71% versus -1.08%, and Trip.com HK -1.53% versus -4.91%.…

Key takeaways Recessions can be a good opportunity for would-be homeowners to secure some real estate But this isn’t a traditional recession, if we can call it that, and buyers face high interest rates on mortgages and lack of supply A home is a long-term investment, so timing the market isn’t always the best move Recessions: not a lot of fun in general, but there are some investment opportunities off the back of them, one of them usually being property. If it’s the right time for you to consider buying a home, you might be keeping a close eye on…

The Biden administation and a class of student loan borrowers filed legal briefs with the United States Supreme Court this week, urging the justices to reject a challenge to a landmark settlement that would provide $6 billion in student loan forgiveness and other debt relief. Here’s what borrowers need to know. Settlement Agreement Provides Billions In Student Loan Forgiveness The challenge stems from a settlement agreement reached between the Biden administration and a class of student loan borrowers to resolve Sweet v. Cardona, a years-long class action lawsuit over disputed Borrower Defense to Repayment claims. The Borrower Defense program allows…