Federal Reserve Governor Michelle Bowman said Friday she believes interest rates need to stay where they are “for a bit longer.” “It is of utmost importance that we maintain credibility in pursuing our fight against inflation by proceeding carefully and deliberately to achieve our 2% goal,” Bowman said while speaking in Arlington, Texas. “I think
Last week, mortgage rates slipped for the first time in over a month, with the 30-year fixed mortgage rate hitting 7.09%. Yahoo Finance’s Rebecca Chen reports: Recent rate volatility — including this week’s drop from 7.22% and last month’s steady rise — has prompted some financial institutions to modify their mortgage outlook for the rest
US stocks surged on Friday, as upbeat earnings from Apple (AAPL) lifted spirits and a weaker-than-expected jobs report revived bets that the Federal Reserve could cut interest rates sooner than thought. The Dow Jones Industrial Average (^DJI) jumped 0.9%, or about 350 points, while the S&P 500 (^GSPC) rose 0.8%. The tech-heavy the tech-heavy Nasdaq
For the first time in nearly two years, home prices aren’t falling in any major metro area in the US amid a shortage in housing supply. According to a report by Redfin, the median home-sale price rose from a year earlier or stayed flat in all 50 of the biggest US metro areas during the
By Chibuike Oguh NEW YORK (Reuters) -U.S. stocks ended higher on Monday, with sharp gains for Tesla and Apple leading the way, as investors looked toward what the Federal Reserve would say about the interest rate outlook after its policy meeting this week. Traders expected the Fed to keep rates unchanged while striking a hawkish
US stocks attempted to rebound on Monday from their worst week of the year as investors braced for a flood of corporate earnings. The S&P 500 (^GSPC) pared earlier morning gains to rise 0.2% after closing below the 5,000 level on Friday for the first time since February amid six straight days of losses. The
‘US stocks opened higher on Monday, rebounding from their worst week of the year, with the S&P 500 turning upbeat as investors braced for a flood of corporate earnings. The S&P 500 (^GSPC) rose 0.5% to rise back above 5,000, after closing below the key level on Friday for the first time since February amid
Stocks moved mostly lower Friday afternoon as Big Tech stocks continued a sell-off that sent the S&P 500 back under the 5,000 mark. The S&P 500 (^GSPC) fell about 0.8%, while the tech-heavy Nasdaq Composite (^IXIC) slid 1.8%. The Dow Jones Industrial Average (^DJI) rose about 0.2%. The S&P 500 on Thursday notched five losing
Stocks were mixed on Friday morning following a deeper sell-off after Israel’s retaliatory strike on Iran spooked the market overnight and spurred a rush to safe havens such as gold. The Dow Jones Industrial Average (^DJI) rose 0.5%. The S&P 500 (^GSPC) fell about 0.2%, pulling the benchmark index back to its 5,000 level, while
Many stock strategists began the year harping for a rebound in small cap performance as consensus believed the Federal Reserve would begin reducing interest rates in the first half of 2024. Now, with the market scaling back its hopes for interest rate cuts this year, the small cap Russell 2000 Index (^RUT) is down nearly