DIRS.INFO The most relevant business & tech news

☆ 'This is make or break' — students are still waiting on financial aid days ahead of National College Decision Day
▼ + stars: | 2024-04-15 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

Few college admission cycles have been as hard on students as this one. National College Decision Day — the deadline most schools set to decide on a college — is just two weeks away. But many college hopefuls are still unsure of where they stand financially, as problems persist with the new Free Application for Federal Student Aid. "This is make or break for students," said Ellie Bruecker, interim director of research at the Institute for College Access and Success. For most students and their families, the college they choose hinges on the amount of financial aid offered and the breakdown between grants, scholarships, work-study opportunities and student loans.

Persons: Ellie Bruecker, FAFSA Organizations: National College, Federal Student Aid, Institute for College, Finance, Harvard, U.S . Department of Education

Does this mean that lower mortgage rates are off the table for 2024? It's possible that mortgage rates will still go down in 2024, but they probably won't start trending down until later in the year. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's interest rates will affect your monthly payments. 15-Year Fixed Mortgage RatesAverage 15-year mortgage rates inched up to 6.16% last week, according to Freddie Mac data. Mortgage rates increased dramatically over the last two years, but they're expected to go down at some point this year.

Persons: you'll, Freddie Mac, it's Organizations: Federal Reserve, Zillow Locations: Chevron

Average 30-year mortgage rates spiked this week in response to the latest Consumer Price Index data, which came in hotter than expected. If the Fed needs to keep rates higher for longer, mortgage rates will stay high as well. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 15-year Fixed Mortgage RatesLast week, average 15-year mortgage rates were 6.16%, a 10-basis-point increase from the previous week, according to Freddie Mac data. Once the Fed cuts rates, mortgage rates should fall even further.

Persons: it's, you'll, Freddie Mac Organizations: Federal Reserve, Zillow Locations: Chevron

Mortgage rates are a bit lower today, though they're still well above where they started the month. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. 15-Year Fixed Mortgage RatesAverage 15-year mortgage rates were 6.16% this week, according to Freddie Mac data, which is a 10-basis-point increase from the previous week. Now that the Fed has paused hiking rates, mortgage rates have come down a bit. Once the Fed starts cutting rates, which is likely to happen this year, mortgage rates should fall even further.

Persons: they're, Freddie Mac Organizations: Markets, Treasury, Investors, Federal Reserve, Zillow, Fed Locations: February's, Chevron

Average 30-year mortgage rates increased to 6.88% this week, according to Freddie Mac. If this measure shows some slowing in inflation, mortgage rates could inch back down. It's likely that we'll need to wait for more data before it becomes clear how mortgage rates will trend this year. See more mortgage rates on Zillow Real Estate on ZillowMortgage Refinance Rates TodayMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments.

Persons: Freddie Mac, It's, Fannie Mae Organizations: Federal Reserve, CPI, of Labor Statistics, Zillow, Mortgage, Association, ARM Locations: Chevron

☆ Wall Street wants answers from big banks about the economy
▼ + stars: | 2024-04-11 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

New York CNN —Big banks kick off earnings season Friday. “Earnings season just became significantly more important,” said JJ Kinahan, chief executive of IG North America, in a Wednesday note. On one hand, lofty rates could help pad banks’ net interest income, since they can charge a higher borrowing rate for loans and mortgages. Inflation has been a bane on Biden’s presidency, with voters consistently giving him low marks for his handling of the economy. Fed Chair Jerome Powell has said that policymakers want to see more evidence that inflation is headed toward their 2% goal.

Persons: ”, JJ Kinahan, JPMorgan, Wells, You’ll, Carol Schleif, Wall, Jamie Dimon, “, Alicia Wallace, Friday’s, Joe Biden, ” Biden, Bryan Mena, Jerome Powell, Powell Organizations: CNN Business, Bell, New York CNN, Dow Jones, Nasdaq, IG North America, JPMorgan Chase, BlackRock, Citigroup, PNC Financial Services, BMO Family Office, Federal Reserve, Wall, Traders, Bureau of Labor Statistics, —, Federal, Fed Locations: New York, Wells Fargo, pare

☆ Cost of gas and housing pushed up US inflation in March
▼ + stars: | 2024-04-10 | by ( Alicia Wallace | ) edition.cnn.com time to read: +2 min

Gas and shelter costs contributed more than half of that monthly increase, according to the BLS. Economists were expecting a 0.3% monthly increase and an annual rate of 3.4%, according to FactSet consensus estimates. The Fed has been wanting to see meaningful progress on inflation before it starts cutting rates. Excluding gas and food prices, categories that tend to be more volatile, core inflation rose 0.4% from the month before, bringing the annual rate to 3.8%, the same as February’s reading. Economists had anticipated a 0.3% monthly gain and for the annual rate to inch lower to 3.7%, according to FactSet.

Persons: ” Greg McBride, Bankrate, Economists Organizations: CNN, Federal Reserve, Bureau of Labor Statistics, BLS

☆ Stocks making the biggest moves midday: Cava, Nvidia, Deckers, Block, Taiwan Semiconductor and more
▼ + stars: | 2024-04-10 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Cava — Shares jumped 4.4% after Argus upgraded the Mediterranean food chain to buy from hold, saying investors should buy the dip. Cava has a "long runway to growth," the firm said. Nvidia — Shares rose 1.7% as the "Magnificent Seven" leader tried to claw its way out of correction territory . Earnings came in at 45 cents per share, 9 cents ahead of the 36 cents expected by analysts polled by LSEG. Alibaba — Shares rose 1.2% on news that Jack Ma, co-founder of the China-based e-commerce company, touted Alibaba's management and talked about the potential for AI in an internal memo to employees.

Persons: Truist, Cava —, William Blair, Vital, Jefferies, Wednesday's, Albemarle, Jack Ma, Samantha Subin, Michelle Fox Theobald, Lisa Kailai Han Organizations: Hoka, Argus, Nvidia, Vital, Mizuho, Zillow, National Association of Realtors, GoodRx Holdings, Delta Air Lines, LSEG, Bank of America, Taiwan Semiconductor Manufacturing Locations: Cava, China

☆ Cramer says hot CPI data may not reflect the reality of inflation, citing recent trends in key categories
▼ + stars: | 2024-04-10 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer questioned whether the hotter-than-expected consumer price index data accurately represents the state of inflation, saying Wall Street's wave of Wednesday selling could have been a mistake. "These headline CPI numbers do not reflect reality as I see it." The Bureau of Labor Statistics CPI is a key inflation metric — a broad measure of the cost of goods and services across the economy. Cramer first pointed to the 0.9% month-over-month increase in the price of meat, poultry, fish and eggs, with the latter alone climbing 4.6%. "I'm not talking about the absolute numbers, I'm talking about the trendlines, because the trendlines suggest that selling in response to this report may have been and could be a mistake."

Persons: CNBC's Jim Cramer, Dow Jones, Cramer Organizations: Labor Statistics CPI, Cal, Maine Foods, U.S Locations: Texas

☆ Dow drops by nearly 500 points after a surprisingly bad inflation report
▼ + stars: | 2024-04-10 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +2 min

New York CNN —US stocks fell sharply Wednesday morning after inflation data for March came in higher than expected. That’s up considerably from February’s 3.2% rate and marks the highest annual gain in the past six months. Investors worry this will push back the Fed’s timeline for the rate cuts it has been hinting would come this year. The 10-year Treasury yield, which serves as a standard for mortgage and loan rates, surged after the announcement, approaching 4.5%. Shares of bank stocks fell.

Persons: Dow, “ Today’s, ”, Seema Shah, Wells Organizations: New, New York CNN, Nasdaq, Bureau of Labor Statistics, Asset Management, Treasury, Bank of America, JPMorgan Chase, Microsoft, Apple Locations: New York, Wells Fargo

Mortgage rates are expected to drop this year, but so far they've remained near two-decade highs. Based on the current economic outlook, mortgage rates should go down in 2024. See more mortgage rates on Zillow Real Estate on ZillowMortgage Refinance Rates TodayMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's interest rates will affect your monthly payments. 15-Year Fixed Mortgage RatesAverage 15-year mortgage rates inched up to 6.06% last week, according to Freddie Mac data.

Persons: Freddie Mac, you'll, it's Organizations: of Labor Statistics, Federal Reserve, Fed, Zillow Locations: Chevron

What next on inflation and rate cuts? The mood music on rate cuts has changed again. All eyes now are focused on the upcoming Consumer Price Index data for clues on when the Fed might finally start cutting interest rates. Economists on Tuesday are forecasting higher growth but also higher-for-longer inflation and rates. Traders are penciling in fewer than three cuts this year — lower than the Fed’s own projection — with the first coming not before July.

Persons: That’s

If either of these reports come in hotter than expected, mortgage rates could spike up. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 15-year Fixed Mortgage RatesLast week, average 15-year mortgage rates were 6.11%, a 10-basis-point decrease from the previous week, according to Freddie Mac data. Mortgage rates started ticking up from historic lows in the second half of 2021 and increased over three percentage points in 2022. Once the Fed cuts rates, mortgage rates should fall even further.

Persons: you'll, Freddie Mac, it's Organizations: Federal Reserve, of Labor Statistics, Zillow Locations: Chevron

☆ Baltimore’s economy has been humming. Then a bridge collapsed
▼ + stars: | 2024-04-02 | by ( Bryan Mena | ) edition.cnn.com time to read: +6 min

Baltimore’s regional economy has a lot going for it such as low unemployment and low inflation. That’s well below the national rate of 3.9% in February and ranks 43rd out of 389 regions across the country with more than one million residents. Low inflationThe US economy is still dealing with high inflation, but that’s not much of a problem for the Baltimore metro. Inflation in Baltimore slowed dramatically last year from April to June, falling to a 2.8% annual rise from April’s 5.3%. Like across the country, rising energy prices have recently pushed up overall inflation in the Baltimore metro.

Persons: Francis Scott Key, Prince, it’ll, Matt Rourke, Matt Jaffe, “, ” Jaffe, that’s, That’s, ” Christina DePasquale, Johns, Freddie Mac Organizations: Washington CNN, CNN, Towson, Labor Department, Washington D.C, U.S, Baltimore, Johns Hopkins Carey Business School, National Association of Realtors, NAR, Fed Locations: Baltimore, Port, Baltimore County, Columbia, Boston, Orlando, Atlanta, Washington, Dundalk, Md

This week, 30-year mortgage rates averaged 6.37%, according to Zillow data. Most major forecasters expect mortgage rates to decline in 2024, but so far we haven't seen any signs of a sustained drop. As we get more data showing that inflation is cooling, mortgage rates should start trending down more definitively. The sooner the Fed can start cutting rates, the sooner mortgage rates will start to fall. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

Persons: you'll, Fannie Mae Organizations: Commerce Department, Fed, Zillow, Mortgage, Association, Sky Locations: Chevron

☆ Black box recovered from cargo ship that crashed into Baltimore bridge could help uncover what went wrong
▼ + stars: | 2024-03-27 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +3 min

A black box has been recovered from the ship that crashed into a Baltimore bridge. The Dali, a Singapore-flagged cargo ship, hit Baltimore's Francis Scott Key Bridge early Tuesday. AdvertisementWhat exactly went wrong to cause the Baltimore bridge collapse this week? Officials on Wednesday recovered the ship's black box data recorder, which could help investigators piece together what caused the crash. The Singapore-flagged Dali cargo ship crashed into the Francis Scott Key Bridge in Baltimore, Maryland, early Tuesday morning, causing it to collapse.

Persons: Dali, Baltimore's Francis Scott Key, —, Jennifer Homendy, Guy Platten —, Francis Scott Key, Wes Moore, James Wallace, Shannon Gilreath Organizations: Baltimore's Francis Scott Key Bridge, Service, Transportation Safety Board, CBS News, International Chamber of Shipping, Bloomberg, Bloomberg Radio, Baltimore, Maritime, Port Authority, Synergy Marine, Baltimore Fire Department, US Coast Guard Locations: Baltimore, Singapore, Baltimore , Maryland, Colombo, Sri Lanka, Maryland, Asia Pacific

☆ Gold subdued as dollar firms, investors seek more Fed cues
▼ + stars: | 2024-03-27 | by ( ) www.cnbc.com time to read: +2 min

Gold prices held steady on Tuesday despite a stronger dollar and elevated Treasury yields, as investors awaited the minutes of the last U.S. Federal Reserve policy meeting for more clues on its interest rate cut timing. Gold prices edged lower on Wednesday due to an uptick in the dollar, although bullion traded in a narrow range as investors stayed on the sidelines awaiting more cues on the U.S. Federal Reserve policy. Spot gold was down 0.1% at $2,176.80 per ounce, as of 0533 GMT. The dollar index strengthened 0.1% against its rivals, making gold more expensive for other currency holders. "It's difficult to construct an overly bearish case for gold prices with the current backdrop of geopolitics and potential central easing," City Index senior analyst Matt Simpson said.

Persons: Matt Simpson, Austan Goolsbee, JP Morgan Organizations: Federal Reserve, U.S . Federal, Index, Chicago Fed, Fed Locations: U.S

As the weather warms up and we head into the homebuying season, high mortgage rates should keep home prices from rising too fast. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 15-year Fixed Mortgage RatesLast week, average 15-year mortgage rates were 6.21%, a five-basis-point increase from the previous week, according to Freddie Mac data. Mortgage rates started ticking up from historic lows in the second half of 2021 and increased over three percentage points in 2022. Once the Fed cuts rates, mortgage rates should fall even further.

Persons: Selma Hepp, you'll, Freddie Mac, it's Organizations: Zillow, Federal Reserve Locations: Chevron

☆ A millennial who left her full-time job at PwC when her freelance side hustle took off shares the 3 ways to build a new business
▼ + stars: | 2024-03-26 | by ( Allie Kelly | ) www.businessinsider.com time to read: +4 min

When the pandemic hit, DeStefano-Tangorra joined the freelancing platform Upwork, pursuing technology and data analysis projects. Soon after, she left her corporate job to work full-time with clients on their data and intelligence strategy. "I decided, because my business started doing really well on the Upwork platform, that it was no longer a side business." Last year, there were 64 million Americans who freelanced for part or all of their income, making up 38% of the US workforce, per Upwork data. "I'm a salesperson, I'm a marketing person, I'm an accounting person, I'm a technology consultant."

Persons: —, Jacqueline DeStefano, Tangorra, DeStefano, OBIS, I'm Organizations: Service, Omni Business Intelligence Solutions, Business, BI Locations: PwC

☆ Gold holds tight range as focus turns to U.S. inflation data
▼ + stars: | 2024-03-26 | by ( ) www.cnbc.com time to read: +2 min

Gold bars of different sizes lie in a safe on a table at the precious metals dealer Pro Aurum. Gold prices were stuck in a tight range on Tuesday as investor focus turns to U.S. inflation data due later this week, which could shed more light on the timing of the Federal Reserve's first interest rate cut this year. Gold prices hit a record high last week after Fed policymakers indicated they still expected to reduce interest by three-quarters of a percentage point by 2024 end despite recent high inflation readings. Meanwhile, Fed Governor Lisa Cook cautioned the U.S. central bank needs to proceed carefully as it decides when to begin cutting interest rates. Lower interest rates reduce the opportunity cost of holding bullion.

Persons: Kyle Rodda, Capital.com, Austan Goolsbee, Lisa Cook Organizations: Aurum, Federal, Chicago Fed Bank, Traders, Fed Locations: U.S

☆ Gold rises on hopes for Fed rate cut in June, softer dollar
▼ + stars: | 2024-03-25 | by ( ) www.cnbc.com time to read: +2 min

An employee handles one kilogram gold bullions at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023. Gold prices rose on Monday as renewed bets that the U.S. Federal Reserve would begin cutting interest rates in June and a softer dollar lifted bullion's appeal. The dollar was down 0.1% against its rivals, making gold less expensive for other currency holders. Looks like June is being the most probable time when they are sort of expected to pull the trigger on that first rate cut." Lower interest rates reduce the opportunity cost of holding bullion.

Persons: Tim Waterer Organizations: Co, U.S . Federal Reserve, KCM, Traders, Fed Locations: Bangkok, Thailand

☆ New Yorkers who make six figures won't save as much moving to Texas and Florida anymore
▼ + stars: | 2024-03-25 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +6 min

New Yorkers have historically moved to Florida and Texas to save money on taxes and other expenses. AdvertisementIn December, Rahul Sen Sharma told Business Insider that he was moving from New York to Miami — and bringing his company with him. New Yorkers moving to Texas for many of the same reasons will also face sticker shock. The savings gained by moving to Florida and Texas are dwindlingUtilities, gas, and housing are just a few expenses that have gotten pricier in Florida and Texas since 2019. "The property-tax percentage rate is higher," Marie Bailey, a Texas real-estate agent who moved from California, told Business Insider's Alcynna Lloyd.

Persons: —, Rahul Sen Sharma, Sen Sharma, BI's Phil Rosen, Jeff Bezos, Ken Griffin, SmartAsset, Dallas, Alexander Spatari, Realtor.com, Jaclyn DeJohn, SmartAsset's, Wager, Robert Walsh, Marie Bailey, Insider's Alcynna Lloyd Organizations: Service, Miami —, Bloomberg ., New, Miami, relocators, Miami . Miami Beach, Bloomberg, Business, Sunshine State, CBS, Fort Locations: Florida, Texas, New York, Miami, NYC, Austin, Florida and Texas, Dallas, Miami ., Manhattan, Fort Lauderdale , Florida, Fort Lauderdale, California

☆ Germany's refusal to send 'Taurus' missiles to Ukraine is highly contentious — but won't break the government
▼ + stars: | 2024-03-19 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +4 min

One key concern is that Ukraine may need on-the-ground help from German soldiers to work the Taurus missiles — a red line for Scholz. Since last November, the CDU has repeatedly tabled votes on sending Taurus missiles to Ukraine in Germany's parliament and failed. Annalena Baerbock, Green party foreign secretary, meanwhile, discussed Taurus missiles with U.K. foreign minister David Cameron. Separately, a high-profile Green party MP joined forces with a prominent CDU politician to pen an op-ed advocating for the delivery of Taurus missiles. "Unfortunately the Taurus debate keeps sucking up all the oxygen in the room, repeating itself over and over again.

Persons: Olaf Scholz, Macron, Tusk, Christoph Soeder, Scholz, Chancellor Scholz, Frank Sauer, Annalena, David Cameron, Ulrike Franke, MBDA, Matthias Balk, Sauer, Franke Organizations: Polish, Federal, Getty, Taurus, Bundeswehr, Russia, Christian Democrats, Free Democrats, Greens —, Scholz's Social Democrats, CDU, Greens, Social Democrats, University of, Metis Institute for Strategy, Foresight, CNBC, European Council, Foreign Relations Locations: Ukraine, Germany, Russia, Germany's, Taurus, Bundeswehr Munich, Green, Swedish, Berlin

As inflation slows and the economy balances out, mortgage rates are expected to go down this year. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. Mortgage Rates for Buying a Home30-Year Fixed Mortgage Rates Go Up (+0.23%)The current average 30-year fixed mortgage rate is 6.53%, up 23 points from where it was this time last week, according to Zillow data. 15-Year Fixed Mortgage Rates Back Above 6% (+0.23%)The average 15-year mortgage rate is 6.03%, up from last week. Mortgage rates also rose dramatically in 2023, though they started trending back down toward the end of the year.

Persons: you'll, It's, refinance Organizations: Zillow, FHA Locations: Chevron

☆ Bitcoin's halving is unlike others before it: A supply shock colliding with a demand tidal wave
▼ + stars: | 2024-03-16 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

A bitcoin halving — when the number of tokens rewarded to miners gets cut by 50% — happens reliably every four years. This time, however, supply will slow within months of an unprecedented demand shock, fueled by the approval of 11 spot bitcoin ETFs from asset management titans including BlackRock and Fidelity. AdvertisementAnd what's new this year is the wave of demand from bitcoin ETFs. Recent weeks have seen single-day inflows into spot bitcoin ETFs topping $1 billion, BitMex data shows. "We've never had both a supply shock and a demand shock at the same time."

Persons: —, Sandy Kaul, Franklin Templeton's, bitcoin, it's, Greg Magadini, Magadini, Kaul, We've, Samir Kerbage, doesn't, Kerbage, Brian Rudick, Rudick Organizations: Service, BlackRock, Fidelity, Business

Search resuls for: "X Data"

25 mentions found