Following a temporary decline in May, mortgage rates began to climb again last week. This increase had an immediate effect on the previously growing mortgage demand. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances rose to 7.05% from 7.01%, with points increasing to 0.63 from 0.60 (including the origination fee)
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Clean energy stocks may be struggling in the public market, but there is a growing appetite for companies focused on decarbonization in private markets. Clean Energy Ventures recently announced that it raised $305 million for its second fund, exceeding its initial target of $200 million. Limited partners such as The Grantham Foundation, Builders Vision, and
Cathie Wood’s ARK Invest has recently made a strategic move by investing in Elon Musk’s startup xAI. This decision showcases Wood’s deepening interest and commitment to artificial intelligence as a fundamental driver of innovation in the modern technological landscape. Wood’s ARK Venture Fund has not only taken a stake in xAI but has also diversified
The International Monetary Fund recently raised its forecast for China’s growth this year to 5%, up from 4.6% previously, citing strong first quarter figures and recent policy measures. This upgrade in forecast followed the IMF’s visit to China for a regular assessment. Additionally, the organization now expects China’s economy to grow by 4.5% in 2025,
American Airlines recently announced a significant cut to its sales outlook, painting a bleak picture for the company’s financial performance. This decision comes amidst the departure of Vasu Raja, the chief commercial officer, adding to the turbulence within the organization. The anticipated unit revenue decline of up to 6% in the second quarter is far
When it comes to claiming Social Security retirement benefits, experts agree that delaying is generally the best strategy. However, despite this advice, many individuals choose to claim their benefits early, either at age 62 or before reaching their full retirement age. Unfortunately, these early claims result in reduced Social Security benefits for the rest of
Recent trends in Chinese tourism have showcased a significant shift towards domestic travel, with more high-income households opting for local destinations over international trips. A survey conducted by consulting firm Oliver Wyman revealed that only 14% of high-income families in mainland China, earning at least 30,000 yuan a month, are planning to travel abroad again
Starbucks recently reported a challenging quarter, with U.S. same-store sales falling by 3% and a 7% drop in traffic. As a result, the company had to cut its 2024 forecast. The CEO, Laxman Narasimhan, acknowledged that Starbucks was facing a more cautious consumer base when it comes to spending. He also identified the need for
Semler Scientific, a relatively unknown medical technology company, made headlines when it announced its decision to invest in bitcoin as its primary treasury reserve asset. This move, inspired by MicroStrategy’s similar actions, caused a surge in the company’s stock price by 37%. Additionally, Semler purchased 581 bitcoins worth $40 million, demonstrating its commitment to the
In a move that aims to revolutionize the trading landscape on Wall Street, the implementation of T+1 settlements will mark a significant shift in the way trades are settled. This process, which involves the exchange of money for securities, is set to take effect starting this week. The transition from a two-business-day settlement period to