Equities markets were set to cap a volatile trading week on a gloomy note on both sides of the Atlantic after broadly upbeat earnings from America’s tech giants failed to impress investors. A sell-off on Wall Street gathered pace an hour after the opening bell, sending the large-cap S&P 500 down 1.9 per cent and
Month: October 2020
A view of the Exxon Mobil refinery in Baytown, Texas. Jessica Rinaldi | Reuters Exxon Mobil reported its third straight quarter of losses on Friday as depressed oil demand sparked by the coronavirus pandemic weighed on the company’s operations. During the third quarter the company lost $680 million, although Exxon said results improved on a
Check out the companies making headlines in midday trading. Twitter – Shares dropped more than 20% after the social media company reported user growth that fell short of expectations amid heightened scrutiny and the challenge of handling posts around the U.S. election. Twitter ad revenue grew 15% year over year to $808 million, but the company
Despite record low mortgage rates, homebuying affordability is on the decline. getty Despite hovering around their all-time low for several months now, it looks like mortgage rates have done about all they can for housing affordability. According to a new report, skyrocketing home prices have now outstripped their power, and overall homebuying affordability is now
Joe Raedle | Getty Images Now that more Americans can work and attend school from anywhere, they are increasingly looking to leave large urban centers for smaller, less dense cities with cheaper housing. As different real estate entities try to measure the migration, certain cities are standout destinations. Santa Barbara, California; Louisville, Kentucky; and Buffalo,
The American Securities Association wants to see the Federal Reserve’s Municipal Liquidity Facility extended past 2020 following word from the Treasury Department that such an extension is unlikely. In a letter sent to U.S. Treasury Secretary Steven Mnuchin and Fed Chair Jerome Powell on Friday, the ASA asked for the MLF to be extended past
The biggest US tech companies set aside their growing political troubles on Thursday to disclose the latest leg of their seemingly unstoppable business ascendance: a stunning boom in digital markets has lifted their fortunes at a time when much of the global economy is hurting. Alphabet, Amazon, Apple and Facebook all disclosed quarterly results on
Available now with Crypto Cars Online Dallas/Fort Worth, Texas— October 26, 2020 — Crypto Cars Online announced immediate availability of purchasing vehicles with crypto currency, after partnering with top rated auto dealers in the Dallas Fort Worth area. “Our system is simple when you buy a car with Crypto Currency,” said Spokesman Roger Lee, Managing
In a down economy, it’s normal to start thinking of alternative ways to generate some extra money, but if you’re tempted into thinking gambling is one of those good alternatives, you need to keep reading. Once you step foot into a casino and exchange your money for chips, you’ve sold away your only advantage: staying
Someone is making a monster bet that yields soar in the weeks ahead, possibly starting as soon as the election is over. What will move yields could be various situations such as a blue wave sweep, where the Democrats control the House, Senate, and Presidency. President Trump could also come away with a landslide victory,
The US economy grew in the third quarter at its fastest pace in postwar history as activity bounced back from coronavirus lockdowns, although output has yet to return to pre-pandemic levels. The jump in gross domestic product was worth 33.1 per cent on an annualised basis — the measure used by the US commerce department’s
Getty Images Global travel screeched to a halt during the pandemic, and it’s hurting credit card companies’ bottom line. American Express, Mastercard and Visa all reported double-digit drops in profit for the recent quarter, compared to a year ago. The companies pointed to a plunge in international travel as borders remain closed during the pandemic.
People walk by the New York Stock Exchange (NYSE) in lower Manhattan on October 02, 2020 in New York City. Spencer Platt | Getty Images Earnings hopes wilt as fresh Covid outbreak throws 2021 reopening in doubt. That’s the story of earnings season so far. It’s the one word investors didn’t want to hear: lockdown. Never mind
Take a look at some of the biggest movers in the premarket: Comcast (CMCSA) – The NBCUniversal and CNBC parent reported quarterly profit of 65 cents per share, 13 cents a share above estimates. Revenue beat forecasts as well. Comcast added 663,000 broadband customers during the quarter, and said its Peacock streaming service signups had
AI-powered geographic data is revolutionizing how we solve the demand for housing at scale. Wirestock The UK has long grappled with the issue of housing development – with the National Housing Federation estimating that a massive 8.4 million people in England alone are currently living in an unaffordable, insecure or unsuitable home. As we look
A Sale Pending sign is seen in front of a home in Miami, Florida. Joe Raedle | Getty Images Potential homebuyers may be hitting the limit of what they can afford. Pending home sales, a measure of signed contracts on existing homes, fell 2.2% in September compared with August, according to the National Association of
Gross domestic product surpassed economists’ expectations, while initial jobless claims also performed better than forecast, while pending home sales fell unexpectedly, but with COVID-19 cases rising throughout the nation, the economic momentum may not continue into the final quarter of the year, analysts said. The advance reading of third quarter GDP showed a 33.1% surge
Credit Karma’s promise is to provide you with your credit score and credit report for free. But is that really worth giving up your personal and financial information? Is Credit Karma giving you precisely the same information that a lender will check if you’re applying for a mortgage or a car loan? And, for that matter, is it
Donald Trump’s chance of victory in next week’s presidential election rests on a dwindling number of swing states as a spike in coronavirus cases across the Midwest dents his ratings in crucial battlegrounds, according to pollsters. Mr Trump will continue his tour of battleground states on Thursday, with planned visits to Florida and North Carolina,
The implementation of smart contracts in business is expected to speed up transactions and enable digitization of a wide variety of physical assets, such as oil and gold. But the legal and regulatory underpinnings of smart contracts are still shaky and rife with their own set of problems. Resolving disputes between parties is the biggest
European countries are poised to tighten coronavirus crisis restrictions as soaring infection rates stoke alarm across the continent, sending stocks to their lowest level since May. Angela Merkel, Germany’s chancellor, was due to hold talks on Wednesday with premiers of the country’s 16 states about proposed new curbs, while France’s president Emmanuel Macron will give
Jim Cramer Scott Mlyn | CNBC CNBC’s Jim Cramer said Wednesday that a lack of coronavirus stimulus is making it hard for investors to buy stocks into a worsening of the United States’ Covid-19 outbreak. “It’s very hard to buy a lot of stocks when you see these numbers,” Cramer said on “Squawk Box,” as
Dividends and buybacks are bouncing back. At the end of the first quarter, there was tremendous concern that the levels of dividends and buybacks would be cut dramatically. There have been cutbacks, but there’s good news amid the bad. The good and bad news on dividends For lovers of dividends, the end of the first quarter
An employee of Tupperware Brands Corporation is at work on the production line at the group’s plant in Joue-les-Tours, centre France, on the day of its 40th anniversary. AFP PHOTO / JEAN-FRANCOIS MONIER (Photo credit should read JEAN-FRANCOIS MONIER/AFP/Getty Images) Jean-Francois Monier | AFP | Getty Images Check out the companies making headlines in midday
The great outdoors can be a big selling point for a home getty Turns out, it isn’t all about the stainless steel appliances. One of the many truisms in the real estate world is the saying “kitchens sell houses”, but until now there has been very little information about exactly what it was in a
Property data and analytics firm CoreLogic has received multiple potential takeover bids that value the company at north of $80 a share, sources tell CNBC’s David Faber. The multiple parties interested in pursuing a deal with CoreLogic include private equity firms, Faber reported citing sources familiar with the talks. The company has already signed a
Gilt-edged North Carolina continues its financing spree this month, bringing its third and largest infrastructure deal to investors looking for safety in high-grade bonds. The state will price $700 million of tax-exempt, limited obligation bonds by negotiation with BofA Securities as the book-runner on Thursday. The $73.5 million, 5.8-mile extension of the C.F. Harvey Parkway
Are you watching the Fed and Treasury pump an extra $7 trillion into the economy and market this year?
There are many reasons to commemorate the decade since 2008, but the 10th birthday of Bitcoin is one that’s both surprising and encouraging. Bitcoin’s controversial and volatile nature has a way of obscuring the greater picture in favor of whatever crazy news about it dominate the day’s headlines. This could be why it seems Bitcoin’s
Ant Group’s $34bn share sale is set to catapult Shanghai’s bourse to the top of the global rankings in terms of cash raised in 2020, underscoring the rising might of China’s capital markets as tensions with the US simmer. The payments group’s blockbuster initial public offering, which is split evenly between Shanghai and Hong Kong,
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