In the wake of the Bank of England’s first interest rate cut in four years, Britain’s biggest high street lenders have taken swift action to slash borrowing costs. This move was triggered by a surge in homebuyer activity following the rate cut, with lenders such as Barclays, Halifax, HSBC, and NatWest now offering five-year fixed
While Jim Cramer’s analysis of Lowe’s acknowledged the company’s beat on earnings, he failed to address the concerning miss on revenues and the cut in full-year outlook. Cramer’s belief that the stock’s performance is tied to the Federal Reserve and the Jackson Hole meeting overlooks the company-specific issues that could be impacting Lowe’s stock price.
The recent news of Mt Gox mobilizing about $2 billion worth of tokens has sparked concerns in the cryptocurrency market, leading to a 2.8% drop in Bitcoin price. This move has raised worries about possible further distributions from the defunct crypto exchange, which could potentially impact Bitcoin’s market dynamics. Traders are now keeping a close
Kamala Harris has proposed an ambitious plan to address the growing housing affordability crisis in the United States. With the goal of constructing 3 million new housing units over the next four years, Harris aims to improve affordability for both renters and first-time buyers. This initiative has been lauded by housing experts as a step
Denver voters will soon have the opportunity to vote on a sales tax hike on the Nov. 5 ballot. The proposed tax increase, set at 0.5%, aims to raise approximately $100 million annually. This additional revenue could be used to support bonds for affordable housing in the city, which has been facing a shortage of
Federal Reserve Board Gov. Michelle Bowman recently expressed her reservations about the potential for an interest rate cut at the upcoming Federal Open Market Committee meeting. In her address to the Alaska Bankers Association, Bowman highlighted her concerns about the current level of inflation, which she described as “uncomfortably” high. She emphasized the need to
As investors mull over this week’s $12 billion new-issue calendar, a significant portion of the debt available is attributed to New York City. The $1.8 billion deal, the largest on the calendar this week, represents the latest offering from the city since its $1.2 billion refunding issuance in July. This substantial amount of debt indicates
Lowe’s, the home improvement giant, recently announced a cut in its full-year forecast due to a decline in quarterly sales and a projected weakening in spending on do-it-yourself projects. The company now expects total sales to range between $82.7 to $83.2 billion for the full year, falling short of its initial expectations of $84 billion
Analysts at Wells Fargo named Eli Lilly as a top pick, emphasizing improved supply and tailwinds from key drug trials as drivers for future growth. Despite the firm’s optimistic outlook and $1,000 per share price target, claiming more than 8% upside from the previous close, there may be some overestimation of the company’s growth potential.
The dollar has been under pressure in recent times, hovering near a seven-month low, as investors anticipate a potential rate cut by the U.S. Federal Reserve in the coming months. This speculation has been bolstered by the likelihood of interest rate reductions starting in September, with traders closely monitoring Federal Reserve Chair Jerome Powell’s speech