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Banking, Economy

“U.S. Treasury yields rise after strong China economic data”

“What are Treasurys doing? The 10-year Treasury note yield TMUBMUSD10Y, 0.681% rose 1.2 basis points to 0.681%, while the 2-year note rate TMUBMUSD02Y, 0.137% was steady at 0.139%. The 30-year bond yield TMUBMUSD30Y, 1.425% added 2.1 basis points to 1.429%. Bond prices move in the opposite direction of yields.… Continue Reading…

Business

“TikTok likely to announce sale of U.S. operations in the coming days in $20 billion to $30 billion range”

“TikTok is nearing a deal to sell its U.S. operations and could announce a deal in the coming days, according to people familiar with the matter. Kevin Mayer, TikTok’s CEO, announced his resignation Thursday after news of the announcement leaked… Continue Reading…

Economy

“U.S. durable-goods orders leap 11.2% in July on strong demand for cars and trucks”

“Orders for durable goods lasting at least three years surged 11.2% in July largely because of strong consumer demand for new cars and trucks, but business spending outside the auto industry was softer and investment grew more slowly. The increase… Continue Reading…

Economy

“First-time jobless claims fall below 1 million for the first time since March”

“Another 963,000 Americans filed for regularfirst-time unemployment benefits last week on a seasonally adjusted basis — the first time in five months that number has dipped below 1 million, the Department of Labor said Thursday. It was the lowest number of weekly… Continue Reading…

Economy

“U.S. consumer spending rises for second straight month, income drops further”

“The Commerce Department said on Friday that consumer spending, which accounts for more than two-thirds of U.S. economic activity, rose 5.6% last month after a record 8.5% jump in May as more businesses reopened. Consumers stepped up purchases of clothing… Continue Reading…

Economy

“U.S. weekly jobless claims rise for a second straight week, total 1.434 million”

“The number of Americans who filed new claims for unemployment benefits last week totaled 1.434 million, the Labor Department reported Thursday, roughly in line with expectations, as the coronavirus pandemic continues to ravage the U.S. economy.  It was the 19th straight… Continue Reading…

Economy

“Almost 30 Million in U.S. Didn’t Have Enough to Eat Last Week”

“Food insecurity for U.S. households last week reached its highest reported level since the Census Bureau started tracking the data in May, with almost 30 million Americans reporting that they’d not had enough to eat at some point in the… Continue Reading…

Real Estate

“U.S. home construction jumps 17.3% in June”

“Construction of U.S. homes jumped 17.3% in June as some states reopened… The Commerce Department reported Friday that new homes were started at a seasonally adjusted annual rate of 1,186,000 in June after a modest recovery in May followed steep… Continue Reading…

Stocks

“US STOCKS-Nasdaq ends at record high as Wall St rises with tech shares”

“U.S stocks rose on Wednesday and the Nasdaq hit a record closing high, supported by technology shares as early signs of an economic rebound… Apple Inc and Microsoft Corp provided the biggest boosts to the Dow and S&P 500, with… Continue Reading…

Real Estate

“US mortgage rates have dropped to another all-time low. Can they go even lower?”

“Mortgage rates keep rewriting the record books. Mortgage giant Freddie Mac says rates on 30-year fixed-rate mortgages dropped last week to a new low in its survey that goes back nearly 50 years — and it’s the fourth time that’s… Continue Reading…