The recent drop in mortgage rates to the lowest level since March has led to a significant increase in demand for refinancing. According to the Mortgage Bankers Association, applications to refinance a home loan jumped 15% last week compared to the previous week, reaching the highest level since August 2022. This surge in demand is
Federal Reserve Governor Christopher Waller recently made remarks suggesting that interest rate cuts are likely in the near future, assuming there are no major surprises on the inflation and employment fronts. Waller expressed confidence in the current economic data, indicating that a soft landing could be achieved. However, he emphasized the need for further data
Adidas stock saw a significant increase in value after the company made an announcement regarding its full year 2024 earnings guidance. The news came following better-than-expected preliminary results for the second quarter. As a result, Adidas shares rose by 4.42% at 9:07 a.m. London time. The German sportswear giant revealed that it now anticipates its
ASML has recently reported second-quarter earnings and sales figures that surpassed expectations, marking a significant achievement for the Dutch firm. Net sales amounted to 6.24 billion euros, exceeding the 6.03 billion euros that were initially projected. Similarly, net profit reached 1.58 billion euros, outperforming the expected 1.43 billion euros. Despite a 9.5% decline in net
The International Monetary Fund (IMF) issued a cautionary warning, stating that the risks of inflation have risen, casting doubt on the potential for multiple interest rate cuts by the Federal Reserve this year. According to the IMF’s World Economic Outlook update, there has been a slowdown in global disinflation momentum, suggesting that there may be
Gold prices saw a significant surge on Tuesday, reaching a record high of $2,465.30. This surge was driven by the increasing expectations of a September interest rate cut, which bolstered demand for the precious metal. The futures for gold jumped 1.5%, surpassing the previous high of $2,454.20. Likewise, spot gold hit an all-time high of
New Balance made headlines on Tuesday with the announcement of a multiyear deal with the WNBA, solidifying its position as an official partner of the league. This partnership will involve collaboration on broadcast, digital, and retail content, with a focus on featuring Los Angeles Sparks’ rookie forward, Cameron Brink. By joining forces with the WNBA,
The recent surge in small-cap stocks has shifted the focus from mega-cap technology shares to these lesser-known companies. This change in leadership within the stock market has been driven by optimism surrounding potential interest rate cuts that could fuel economic recovery and benefit small-cap stocks. The Russell 2000 index, which serves as a benchmark for
Delaware offers housing affordability that is about average, but what sets it apart is the remarkably low property taxes that homeowners have to pay. The effective tax rate is less than half a percent, making it the fourth-lowest in the country. This factor alone contributes to Delaware’s ranking as the 10th state in terms of
Morgan Stanley has reported impressive second-quarter profits and revenue that exceeded analysts’ estimates. The bank’s earnings of $1.82 per share surpassed the expected $1.65 per share by LSEG. Additionally, the revenue of $15.02 billion outperformed the estimated $14.3 billion. The profit of the bank surged by 41% from the previous year to $3.08 billion, or