A stock trader at work at the New York Stock Exchange on February 24, 2020.Johannes Eiselle/Getty Images Indexes edged up on Tuesday as markets eyed incoming inflation data this week. The rally slowed, but stocks added to records notched in Monday’s session. Bitcoin approached $90,000 as crypto markets continue to bask in Trump’s win. US stocks added to records on Tuesday, with the blistering rally since last week slowing slightly as traders prepared to take in new inflation data this week. A five-day rally helped the Dow Jones Industrial Average and S&P 500 notch fresh closing highs on Monday, with…
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By Blake Brittain A U.S. judge on Tuesday temporarily blocked the Port of Oakland from using “San Francisco” in the Oakland airport’s name, finding the name change would likely cause consumer confusion and harm the city of San Francisco. U.S. Magistrate Judge Thomas Hixson said in the decision that changing the name of Metropolitan Oakland International Airport in nearby Oakland to “San Francisco Bay Oakland International Airport” would likely mislead consumers into thinking it is connected with San Francisco. A spokesperson for the Port of Oakland said the port is “continuing to review the recent ruling and considering all available…
Introduction Mortgage rates have doubled and tripled in some countries since 2021. So, why aren’t residential real estate markets more distressed? For example, the average home price-to-income ratio in the United Kingdom is at an astounding 9x. This implies that most borrowers are spending more of their income on interest and amortization payments than ever before. The typical UK mortgage is five years, but the interest rate for a new loan has increased from 1.8% a year ago to 4.6% today. Many borrowers will not be able to refinance at this level and will be forced to default. The bank…
FORT COLLINS, Colo.—Cromwell Thomas G, Executive Vice President and Chief Operating Officer of Woodward , Inc. (NASDAQ:), recently reported significant stock transactions involving the company’s shares. According to a recent SEC filing, Cromwell executed sales totaling approximately $1.78 million. The transactions took place on November 11, 2024, with sales prices ranging from $177.33 to $179.19 per share. Additionally, Cromwell exercised stock options to acquire 10,000 shares at a price of $104.77 each, a move valued at $1,047,700. Following these transactions, Cromwell now holds 11,511 shares directly. These sales were conducted under a pre-established Rule 10b5-1 trading plan, adopted earlier this…
DALLAS–(BUSINESS WIRE)–The Board of Directors of Eagle Materials Inc . (NYSE: NYSE:) has declared a quarterly cash dividend of $0.25 per share, payable on January 13, 2025, to stockholders of record of its Common Stock at the close of business on December 16, 2024. About Eagle Materials Inc. Eagle Materials Inc. is a leading U.S. manufacturer of heavy construction products and light building materials. Eagle’s primary products, Portland Cement and Gypsum Wallboard, are essential for building, expanding and repairing roads and highways and for building and renovating residential, commercial and industrial structures across America. Eagle manufactures and sells its products…
Traders work on the New York Stock Exchange floor on November 12, 2024 in New York City.Source: NYSEU.S. stock futures traded near the flatline Tuesday night as Wall Street awaited the latest consumer price index data for insights on the pace of inflation.Futures tied to the Dow Jones Industrial Average slipped just 16 points, or 0.04%. S&P 500 futures and Nasdaq 100 futures inched down 0.05% and 0.09%, respectively.The major averages fell during Tuesday’s main trading session as the market took a breather from its postelection rally. The 30-stock Dow fell around 382 points, or 0.9%. The S&P 500 declined…
By Svea Herbst-Bayliss NEW YORK (Reuters) – Hedge fund Brigade Capital is receiving a $300 million investment from Blackstone to help build its new private credit strategy and expand its collateralized loan obligations (CLO) platform, two people familiar with the matter said. Brigade, an established credit investment specialist that made headlines earlier this year with a joint bid for department store Macy’s, is building expertise in the hot private credit market where some $2 trillion in loans are being made to corporations by non-banks. The Multi-Asset Investing unit of Blackstone will allocate $150 million to the new Brigade strategy. Brigade…
Financial services company SoFi is overhauling its robo-advisor offering by adding new investment options and its first-ever fee. The company’s revamped robo-advisor charges clients an annual 0.25% fee based on assets. It’s the first time the San Francisco-based company has charged clients for using its robo-advisor. The annual fee, which… Source link
President-elect Donald Trump was a frequent visitor to Michigan during the 2024 campaign.AP Photo/Alex Brandon Trump’s election win has sent the US stock market to fresh highs. Morgan Stanley says three risks could upend the ongoing Trump trade. The firm says investors should be closely monitoring bond yields and the US dollar. Equity investors have embraced Donald Trump’s return to the White House, but the post-election rally isn’t entirely risk-free. So far, US indexes have hit new highs as investors look ahead to what Trump’s promised policies mean for earnings growth. But while market momentum remains firmly upward, Morgan Stanley…
By Oliver Hirt, John O’Donnell, Stefania Spezzati and Dave Graham ZURICH/FRANKFURT/LONDON (Reuters) – The United States is pursuing an inquiry into Russian clients that UBS took on when it bought Credit Suisse, three people familiar with the matter said, heightening scrutiny of one of the world’s biggest wealth managers. The U.S. sanctions enforcement agency, OFAC, has written to the bank as part of this inquiry, two people familiar with the matter told Reuters. A U.S. official, asking not to be named, said the Swiss bank and the enforcer have held discussions. OFAC, or the Office of Foreign Assets Control, the…