According to a new report, mortgage rates increased this week, going above 7% ━ adding more pressure to the housing market.
Read More Report: Mortgage Rates Surpass 7% For First Time Since MayTag: Fed
S&P 500, Nasdaq fall as investors scale back bets on Fed rate cuts in 2025
Stocks dropped on Monday, with the benchmark S&P 500 at a two-month low as bond yields surged after robust payroll numbers last week.
Read More S&P 500, Nasdaq fall as investors scale back bets on Fed rate cuts in 2025U.S. Inflation Increases 2.7% In November, Going Up For Second Consecutive Month In A Row
The latest report revealed by the Labor Department showed that U.S. inflation rose in November from the pace it set a month earlier, going up for the second month in a row.
Read More U.S. Inflation Increases 2.7% In November, Going Up For Second Consecutive Month In A RowDow Hits 45K Before Falling as Wall Street Struggles Amid ‘Tech Stock Slump’
The Dow Jones Industrial Average hit a new record high, topping 45,000 for the first time and making a run for its 47th record close, before falling on Wednesday afternoon.
Read More Dow Hits 45K Before Falling as Wall Street Struggles Amid ‘Tech Stock Slump’Core Wholesale Prices Rise in August; Fed Rate Cut Still Expected
The Labor Department’s August Producer Price Index shows a 0.2% increase in wholesale prices, meeting expectations, but core wholesale prices rose 0.3%, reversing a previous decrease.
Read More Core Wholesale Prices Rise in August; Fed Rate Cut Still ExpectedFed expected to deliver quarter-percentage-point rate cut next week
U.S. central bankers will likely start long-awaited interest rate cuts next week with a quarter-of-a-percentage-point reduction.
Read More Fed expected to deliver quarter-percentage-point rate cut next week