The Fed may pause another rising rate on next meeting
The Federal Reserve may no longer pursue interest rate hikes due to the depletion of surplus reserves amassed during the epidemic. However, there are still potential concerns associated with an increase in interest rates. The stock market experienced a 0.8% increase, driven by sectors such as international travel, housing and utilities, healthcare, and airline transportation…
The buying power of US consumer are showing a good signal on economic growth
Consumer expenditure in the United States increased significantly in September, driven by increased purchases of motor vehicles and travel. This trend has contributed to sustained growth in consumer spending as the economy enters the fourth quarter. The Commerce Department’s report revealed a surge in expenditure, surpassing initial expectations, and was followed by heightened monthly inflation…
US investor are looking on technological sector while look away from financial sector
U.S. investors have been net selling equities funds for the sixth consecutive week, driven by increased bond yields and concerns about the Israel-Hamas conflict. The yield on 10-year Treasury bonds reached its highest level in 16 years, indicating strong economic expansion and an expanding fiscal deficit. Multi-cap, mid-cap, and small-cap funds experienced net withdrawals, while…
Oil prices start to declining due to energy consumption
Oil prices fell over 1% on Thursday due to concerns about the global economy and energy consumption, affecting market sentiment. The Brent crude futures saw a 1.2% decline, while U.S. West Texas Intermediate crude futures saw a 1.4% decrease. The rise in oil prices is attributed to the potential escalation of the Israel-Hamas conflict, with…
Increased rates are highly affecting mortgage rates
Mortgage rates have reached their highest point in the past two decades, reaching an 8% mark. This has led to a significant number of prospective homeowners postponing their plans due to these developments. The average 30-year mortgage rate has increased from 7.63% to 7.79%, with the mean borrowing rate consistently above 7% for 11 weeks.…
Close Brothers Group acquisition win by Canaccord
Canaccord Genuity is considering acquiring Close Brothers Group’s wealth management business to expand its UK presence. The acquisition was part of an auction process organized by Goldman Sachs. The current status of Canaccord’s involvement in Close Brothers Asset Management remains uncertain. The proposed agreement is seen as a sign of consolidation within the UK’s fragmented…
US mortgage rates jump to a new level high
A poll shows the interest rate for the most widely used house loan in the US reached its highest level since September 2000, marking the seventh consecutive weekly rise. This has led to a decline in mortgage applications, which have reached their lowest point in 28 years. The average contract rate for a 30-year fixed-rate…
Shell pump earnings on reduction hydrogen business
Shell has announced plans to reduce its hydrogen business and about 15% of its workers in its low-carbon solutions division to increase earnings. Following Sawan’s January takeover, the company aims to focus on higher-margin projects, stabilize oil output, and increase natural gas production. Shell plans to eliminate 200 jobs in 2024 and considers 130 more…