The existing home sales market is facing a major crisis, with sales reaching a 30-year low. In May, sales remained stagnant, dropping by 0.7% from April to a seasonally adjusted, annualized rate of 4.11 million units. This reflects a 2.8% decrease from the same period last year. Lawrence Yun, chief economist at the National Association
admin
Forever 21, a once prominent fast fashion player, is now facing a myriad of challenges as it struggles to keep up with competitors in an oversaturated market. With more than 380 stores in the U.S., the retailer has asked landlords for a significant reduction in rent, demonstrating the extent of its financial difficulties. Despite its
The U.S. dollar saw a rise to new highs recently, outperforming its European counterparts as the Federal Reserve hinted at a more hawkish monetary policy stance. Despite data indicating a slowdown in the U.S. economy, the Dollar Index, which measures the greenback against a basket of other currencies, remained relatively strong. The housing and labor
After carefully examining the recent analyst call by Jefferies regarding Ingersoll Rand, it is evident that there is a positive outlook on the industrial stock. Analyst Stephen Volkmann’s decision to reiterate a buy rating and raise the price target to $110 from $105 signals confidence in the company’s future performance. The acquisition of ILC Dover,
ChainwireW3GG has just announced the exciting launch of an exclusive private sale of its W3GG tokens, set to begin on July 1, 2024. This sale presents a unique opportunity for community members to purchase tokens at an initial price of $0.05 each, showcasing W3GG’s commitment to community-driven growth and rewarding early supporters. The private sale
As we delve into the current state of the municipal bond market, it is evident that there is lighter trading and steady yields being observed. With the last deals of substantial size having priced, the muni mutual funds have witnessed minor inflows. In comparison, U.S. Treasuries displayed a slight weakness, and equities were seen to
The Accelerating Deployment of Versatile, Advanced Nuclear for Clean Energy Act has recently passed in the U.S. Senate and is on its way to President Biden’s desk for signing. This legislation is expected to stimulate nuclear power production in the country, signaling a step towards a more sustainable energy future. The bipartisan nature of the
In recent times, the once-obscure chipmaker Broadcom has experienced an unprecedented rally in its stock price, propelling its market capitalization to new heights. This surge has brought Broadcom’s market cap tantalizingly close to Warren Buffett’s renowned Berkshire Hathaway conglomerate, a significant achievement for the Palo Alto-based semiconductor supplier. Key Players in the Tech Industry Broadcom’s
Darden Restaurants recently reported its quarterly results, which showed a mixed performance for the company. Despite an increase in net sales by 6.8%, the same-store sales of Olive Garden, one of their prominent chains, fell for the second consecutive quarter. This is concerning as same-store sales are an important indicator of a company’s health in
The U.S. dollar saw a slight uptick in trading on Thursday, with the Dollar Index rising by 0.2% to 105.122. This movement comes after a recent holiday in the United States, as traders returned to the market looking for clues about the Federal Reserve’s stance on interest rates. The latest economic data, including initial jobless