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Options volumes and prices have skyrocketed since, but they're not betting the stock will do the same. Some options traders believe that the already hard hit stock could fall further. One of the most active single-stock options so far this week are those of Datadog (DDOG) , which reported earnings on Tuesday. A put seller is willing to get long the underlying stock at the strike price should it fall below that level by expiration. Options premiums in DDOG were high going into earnings, but not high enough as the sharp move higher illustrated.
Persons: they're, Tesla Organizations: Lucid, Inc, EV Locations: Saudi, DDOG
Contagion from spiking yields quickly trickled into real estate, lifting the average 30-year fixed mortgage rate above 8%. "Even before mortgage rates went up to 8%, we saw significant slowing in home sales activity, and some recent reports pointed to a 12-to-13-year low." But where mortgage rates will be depends on the fed funds rate. Following this trend, CoreLogic indicators forecast that mortgage rates could be at about 6.3% by year-end. Forecasts are based on multiple metrics including home prices, the unemployment rate, real disposable income per capita, and population growth.
Persons: Selma Hepp, Hepp Organizations: Reserve Locations: California
Hong Kong finance summit tiptoes around China
  + stars: | 2023-11-09 | by ( Peter Thal Larsen | ) www.reuters.com   time to read: +7 min
HONG KONG, Nov 9 (Reuters Breakingviews) - Hong Kong in November enjoys a pleasant climate that some local managers dub “chairman weather”. Hong Kong is hardly a hot destination for financiers right now. Companies raised just $2.7 billion from initial public offerings in Hong Kong in the quarter, a fraction of previous years. Hong Kong officials including John Lee, the territory’s chief executive, have been sanctioned by the U.S.. Follow @peter_tl on XCONTEXT NEWSThe Global Financial Leaders’ Summit was held in Hong Kong from Nov. 6 to Nov. 8.
Persons: Marc Rowan, Colm Kelleher, Morgan Stanley, Goldman Sachs, David Solomon, Jane Fraser, Ken Griffin, Hong, John Lee, Eddie Yue, Kung, Zhang Qingsong, Bob Prince, Mark Wiedman, Apollo’s Rowan, UBS’s Kelleher, Joseph Yam, Una Galani, Thomas Shum Organizations: Reuters, Apollo Global Management, UBS, Monetary Fund, Companies, Citigroup, Citadel, Hong Kong Monetary Authority, Hong Kong’s HK, Exchange, People’s Bank of China, Bridgewater Associates, BlackRock, Goldman, Bank for International, Global, , Thomson Locations: HONG KONG, Hong Kong, Europe, U.S, China . Hong Kong, China, People’s Republic, Hong, British, Singapore, BLK.N,
New York CNN —Julia Galliker learned out of the blue that there was a problem with milk carton supplies. For Galliker, executive vice president of the Pennsylvania-based Galliker Dairy Company, that’s a big problem. The little milk cartons go not only to schools, but to other institutions like nursing homes and correctional facilities. “Like other milk carton producers across the industry, Pactiv Evergreen continues to face significantly higher than projected demand,” a company spokesperson said in a statement. “So there’s really not been any replacement for school milk cartons.”
Persons: Julia Galliker, there’s, Galliker, , she’s, “ There’s, “ It’s, ” Galliker, , aren’t, , Matt Herrick, it’s, ” Seth Teply Organizations: New, New York CNN, Galliker Dairy Company, Department, Agriculture, Nutrition Service, Department of Agriculture, Food and Drug Administration, CNN, Industry, International Dairy Foods Association, USDA, Springville, Griffith Institute Central School District, Tetra Pak, Tetra, , American Dairy Association North Locations: New York, Pennsylvania, United States, Springville , New York, Everett , Washington, Tetra, Canada
The housing market is loosening up as supply climbs and home prices drop, Redfin said. "I'm advising buyers to lock in a mortgage rate as soon as they drop to a number where they can make the math work." AdvertisementAdvertisementThe housing market is loosening up as mortgage rates have tumbled, but it doesn't necessarily guarantee lasting relief for buyers, Redfin said. In the last week, the 30-year fixed mortgage rate notched its biggest weekly drop in over a year, sliding from 7.86% to 7.61%. Though mortgage rates are still near 23-year highs, these adjustments are enough to trim a few hundred dollars of a monthly payment, Redfin said.
Persons: Redfin, , Hal Bennett, homebuyers, Lisa Cook Organizations: Service, Federal Reserve
Nov 7 (Reuters) - Amazon.com's (AMZN.O) top lawyer on Tuesday previewed the broad outlines of the company's possible defense against the U.S. Federal Trade Commission's antitrust lawsuit against the retailer, at a private companywide meeting. The lawsuit, which was joined by 17 state attorneys general, was filed in federal court in Seattle and follows a four-year investigation into the company's practices. The FTC takes "issue with us refusing to show prices that are higher than our biggest competitors," Zapolsky said on Tuesday, according to the transcript. "It’s not that we don’t let customers sell at these prices, we just don’t feature that product at that price." Amazon has said it disagrees with the FTC and would defend itself in court.
Persons: David Zapolsky, Taylor Swift, Zapolsky, Andy Jassy, Ty Rogers, Greg Bensinger, Kenneth Li, Matthew Lewis, Leslie Adler Organizations: U.S . Federal Trade, Reuters, Amazon, U.S . Federal Trade Commission, Big Tech, FTC, Thomson Locations: Seattle, San Francisco
YouTube's big bet on the NFL Sunday Ticket may be paying off, with YouTube TV becoming the fastest-growing Google product over the past year, according to internal growth metrics viewed by Insider. The television streaming service also saw the highest engagement of any Google product as well as the highest retention rate, according to the data. It said 52% of YouTube TV's users were frequent, while only 8% of YouTube TV accounts had lapsed. YouTube TV , which offers a selection of linear and on-demand programming, launched in 2017. "YouTube watch time increases substantially after tablet adoption, with YouTube watch time on form factors other than tablet decreasing only slightly," read a summary of the findings.
Persons: Ruth Porat Organizations: NFL, YouTube, Google, Street Journal, Magic Eye
After spiking close to 8% last month, 30-year mortgage rates have finally trended down a bit. Once the Fed starts cutting, mortgage rates should fall more substantially. See more mortgage rates on Zillow Real Estate on ZillowToday's refinance ratesMortgage type Average rate today This information has been provided by Zillow. But whether mortgage rates will drop in 2023 hinges on if the Federal Reserve can get inflation under control. 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: Federal Reserve, Zillow, Fed, Mortgage, Association, Sky Locations: Chevron
A little over a year after Spotify first added audiobooks to its platform, the music streamer is making more than 200,000 titles available to its premium subscribers. Users who pay for ad-free access to the service will now be able to listen to 15 hours worth of audiobooks per month. Previously, users had to pay to access audiobooks within the Spotify app. In a release announcing the new perk, Spotify said the 15-hour limit "should get you around two average audiobooks per month." Students, meanwhile, can sign up for Spotify Premium for $5.99 per month.
Persons: Britney Spears, Bonnie Garmus, Stephen King's, Warren Buffett Organizations: Spotify, CNBC, New York Times
Luckily, there are ways around the bank, one of which is seller financing, a process that makes the seller also the lender. But if he had to turn to the bank, it would have decreased the property's net profit because of high interest rates. Seller financing isn't common, though it is a more alluring choice when interest rates rise. "People don't think of the strategy because so many people have been used to the low interest rates. When offering an interest rate, start low because it's likely the seller will counter but not low enough that it insults them.
Persons: Matthew Tortoriello, Tortoriello, They've, Chris Gerbig, who's, they'll, Shmuel Shayowitz, Shayowitz Organizations: Public Locations: Holyoke , Massachusetts, Chicopee , Massachusetts
Courts Throw the Book at the Realtors
  + stars: | 2023-11-07 | by ( ) www.wsj.com   time to read: +1 min
Photo: Gene J. Puskar/Associated PressIn the aftermath of “A Big Legal Defeat for the Realtors” (Review & Outlook, Nov. 1), there will be some chaos in the real-estate market. Will a buyer trust the seller’s agent to represent him properly? The United Auto Workers can conspire against three auto makers to increase the cost of automobiles. The teachers unions can conspire for more pay—without any improvement in student results—or to close down schools. Yet it is the real-estate agents and National Association of Realtors who are accused of conspiring to set commission levels, which, from personal knowledge, I know they don’t.
Persons: Gene J Organizations: Associated Press, Realtors, United Auto Workers, National Association of Realtors
Nov 7 (Reuters) - Enable, a startup that sells rebate software to trading partners, has raised $120 million in a latest funding round that valued it at $1 billion, the company said on Tuesday. Its previous capital raise over a year ago had put Enable's value at over $800 million. The fresh private funding in a slowing market for growth stage financing comes as the software firm more than doubled its revenue, according to the company. Founded in the UK in 2016 before relocating its headquarters to San Francisco in 2020, Enable offers cloud-based software to manufacturers, distributors and retailers to manage the rebate program in their supply chain. "Given the gap in the market, they're able to persist and grow despite a lot of the macro (economic conditions).
Persons: We've, Andrew Butt, They're, Arsham Memarzadeh, Krystal Hu, Bill Berkrot Organizations: Lightspeed Venture Partner, Schneider, Lightspeed, Thomson Locations: San Francisco, U.S, Canada, Europe, Australia, The U.S
Sellers can make six figures from selling items they've made or bought elsewhere on e-commerce platforms such as Etsy , Amazon , and Shopify . But figuring out how to price your items can require experimentation — which can mean getting it wrong at first. Dinh decided in March 2022 to set up her own shop on Shopify when Etsy increased its transaction fees for sellers . An Amazon seller increased his prices until his sales stoppedBen Alistor started selling tanning mitts on Amazon FBA as a side hustle with his partner in June 2018. "Selling on Amazon FBA is a fine balance between running out of stock and not selling enough products," he said.
Persons: Sellers, Price, Tammy Dinh, Dinh, underpaying, Read, I've, Ben Alistor, Alistor, Emma Larocque, Larocque Organizations: YouTube, Amazon, Printful Locations: Alibaba
Data on the characteristics of newly constructed homes for 2022, released in June by the Census Bureau, revealed homes continued to get bigger after shrinking from 2015 to 2020. A higher share of four-bedroom houses were built, most constructed with air conditioning, and more houses are doing away with fireplaces. In 2022, nearly half of all homes constructed had four bedrooms, compared to two-bedroom homes at 9%. Houses have remained relatively the same height, with a slightly higher percentage of one-story homes and slightly fewer percentage of two-story homes compared to 10 years ago. The median are now comes in at around 2,300 square feet for houses built in 2022.
Persons: Goldman Sachs, , Glenn Kelman, Realtor.com, it's, Brick Organizations: Service, Census, Myrtle Locations: Conway, Myrtle Beach, South Carolina, Las Vegas, Henderson, Paradise, Stockton , CA
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailArt market hits a wall as wealthy buyers & sellers pull backCNBC's Robert Frank joins 'Squawk Box' with more on the state of the high-end art market.
Persons: Robert Frank
New York CNN —Walmart announced Tuesday that it is making changes to create a calmer shopping experience, at least for a few hours every day in all of its US stores. Set to be implemented on Nov. 10, the changes include setting in-store TV walls to a static image, turning off the radio, and lowering the store lights. The retailer told CNN that the changes, for now, will roll out only at its Walmart locations and not at its Sam’s Club warehouse locations. Walmart’s rival Target sells an exclusive line of children’s home decor and furnishings that are designed to be sensory-friendly. The move by Victoria’s Secret shows mainstream brands and retailers – and not only niche sellers – catering to differently abled consumers.
Persons: Organizations: New, New York CNN, Walmart, ” Walmart, CNN, Target Locations: New York, Puerto Rico
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe pin action off Datadog shocked everyone, especially short-sellers, says Jim Cramer'Mad Money' host Jim Cramer takes a closer look at the tech rally and the ripple effect of Datadog's surge.
Persons: Jim Cramer
Nov 7 (Reuters) - Amazon.com's (AMZN.O) top lawyer on Tuesday previewed the broad outlines of the company's possible defense against the U.S. Federal Trade Commission's antitrust lawsuit against the retailer, at a private companywide meeting. The lawsuit, which was joined by 17 state attorneys general, was filed in federal court in Seattle and follows a four-year investigation into the company's practices. The agency asked the court to issue a permanent injunction ordering Amazon to stop what it called unlawful conduct. Amazon has said it disagrees with the FTC and would defend itself in court. "The whole complaint is based on a very constrained and manufactured view that Amazon is a monopoly," said Zapolsky.
Persons: David Zapolsky, Taylor Swift, Zapolsky, Andy Jassy, Ty Rogers, Greg Bensinger, Kenneth Li, Matthew Lewis Organizations: U.S . Federal Trade, Reuters, Amazon, U.S . Federal Trade Commission, Big Tech, FTC, Thomson Locations: Seattle, San Francisco
Like on the app, shoppers using the new site can search for and purchase products from across Shopify's merchant base. Shop Cash can only be redeemed on Shop. The app and website also display special offers from merchants where shoppers' Shop Cash rewards are multiplied. Shopify's web app and Shop app before it are as much marketplaces as Amazon," Juozas Kaziukėnas, CEO of e-commerce intelligence firm Marketplace Pulse, told Insider. We're not disclosing just yet, but the Shop app is becoming much more popular," company president Harley Finkelstein said in response.
Persons: Shopify, Rick Watson, Watson, they've, Siti Panigrahi, Harley Finkelstein Organizations: Google, RMW Commerce Consulting, Cash, Shopify, Shoppers, Shop, Mizuho Securities, LTV, Amazon
Farmers Insurance deemed it too risky to continue insuring homes in Florida and pulled out of the market there entirely. The average cost for homeowners’ insurance in the United States is about $1,820, according to an analysis by NerdWallet, but there are many variables. As climate risks continue, a standoff has developed over who should pay the cost of insuring homes against ever-growing risks. And for many of the properties that are on the market you can’t obtain insurance? “We’ll have to see some creative solutions in the near term to create that competitive marketplace for insurance,” she said.
Persons: Michael Monaghan, Sellers, , ’ ” Monaghan, , Monaghan, Will, Amy Bach, United, Hurricane Andrew, ” Bach, mitigations, Bach, Jennifer Branchini, Branchini Organizations: DC CNN, Coldwell, Allstate, . Farmers Insurance, National Oceanic, Atmospheric Administration, NOAA, Hurricane, FAIR, California Department of Insurance, California Association of Realtors, State Farm, Farm, Locations: Washington, California, Bayside, , Florida, Monaghan, United States, , San Francisco, “ Florida, Louisiana, WUI, Pleasanton
UK house prices end six-month losing streak - Halifax
  + stars: | 2023-11-07 | by ( David Milliken | ) www.reuters.com   time to read: +2 min
Compared with a year earlier, house prices in October were 3.2% lower versus a 4.5% annual decline in September, leaving the average house price at 281,974 pounds ($347,279), nearly 10,000 pounds lower than a year earlier. British house prices surged during the COVID-19 pandemic due to low interest rates, greater demand and temporary tax breaks. Halifax's house price index is still 18% higher than it was in February 2020, despite a 4% fall since its peak in June 2022. Halifax said it expected house prices to fall further this year, with a return to growth in 2025. "The high cost of borrowing alone is not sufficient to trigger the leg down in house prices we predicted," Capital economist Andrew Wishart said.
Persons: Toby Melville, Kim Kinnaird, Huw Pill, BoE, Kinnaird, Andrew Wishart, David Milliken, Sarah Young, Kate Holton, Bernadette Baum Organizations: REUTERS, Halifax, Lloyds Banking Group, The Bank of England, Capital Economics, Thomson Locations: Bristol, Britain, Halifax, British
REUTERS/Toby Melville/File Photo Acquire Licensing RightsLONDON, Nov 7 (Reuters) - British house prices ended six months of consecutive falls in October, reflecting a lack of homes being put up for sale, but prices are still lower than a year ago, mortgage lender Halifax said on Tuesday. Halifax, part of Lloyds Banking Group (LLOY.L), said house prices in October were 1.1% higher than the month before, the first increase since March on a seasonally adjusted basis, after a 0.3% monthly drop in September. This is likely to have strengthened prices in the short-term, rather than prices being driven by buyer demand, which remains weak overall," Kim Kinnaird, director of Halifax Mortgages, said. Compared with a year earlier, house prices in October were 3.2% lower versus a 4.5% annual decline in September, leaving the average house price at 281,974 pounds ($347,279), nearly 10,000 pounds lower than a year earlier. Halifax said it expected further falls in house prices, and a return to growth in 2025.
Persons: Toby Melville, Kim Kinnaird, Kinnaird, David Milliken, Sarah Young, Kate Holton Organizations: REUTERS, Halifax, Lloyds Banking Group, Bank of England, Thomson Locations: Bristol, Britain, Halifax
A recent jury verdict against the National Association of Realtors and large residential brokerages could upend the residential real estate industry. Here's what real estate agents, homebuyers and sellers need to know about potential changes in residential real estate economics. A bad time for bad news in real estateThe jury verdict comes at a time when many real estate agents are already feeling a pinch. At a time when home sales are already under pressure, "this lawsuit is just another punch in the gut for real estate franchises," said Bill Gross, a self-employed real estate broker associate in California with eXp Realty. Lawsuits focused on fees reinforce the general trend of trying to lower fees in the real estate market, Schipani said.
Persons: Max, Mike DelPrete, Bill Gross, there's, Keefe, Ryan Tomasello, Gilbert J, Schipani, we've, Glenn Kelman Organizations: National Association of Realtors, NAR, realtors, Max Holdings, Federal, University of Colorado Boulder, eXp Realty, Tempus Fugit, Compass Locations: Missouri, Kansas City, St, Louis, Springfield, Columbia, U.S, California
Dozens of international and private schools in China are closing or merging, industry executives said, weighed down by tighter regulation, a slowing economy and dwindling foreign student numbers. A rapid expansion prior to the COVID-19 pandemic drove a surge of privately run bilingual schools in China offering a western exam curriculum. Dulwich College operates nine schools in China including bilingual schools catering to Chinese nationals that have been hit hardest by regulatory changes. It mandated that Chinese compulsory education be taught in private schools, aligning the curriculum more closely to public schools and making parents question the need to pay private school fees when their children can attend free government schools. Authorities have also moved to control the number of private schools.
Persons: Aly, Julian Fisher, Fisher, Dulwich, Xi, It's, Frank Feng, Jimmy Chin, Nicholas Burns, Mathias Boyer, Casey, Roxanne Liu, Dorothy Kam, Muralikumar Organizations: REUTERS, Dulwich College, Venture Education, Strategic, Education, Motion, Dulwich, British, Authorities, Dulwich's, Victoria Kid House, Western International School of, Everpine, Xi'an Jiaotong University, University of Science, Technology of, International School of Beijing, Casey Hall, Thomson Locations: Shanghai, China, HONG KONG, British, Asia, China's, Beijing, Dulwich, Singapore, South Korea, U.S, Britain, Canada, Lucton, Greater Bay Area, Shenzhen, Eton, Guangzhou, Western International School of Shanghai, Xi'an, Technology of China, Anhui, Hong Kong
Dozens of international and private schools in China are closing or merging, industry executives said, weighed down by tighter regulation, a slowing economy and dwindling foreign student numbers. Dulwich College operates nine schools in China including bilingual schools catering to Chinese nationals that have been hit hardest by regulatory changes. Strategic plans for growth of its high schools in China were "scaled back in light of changing government regulations", Dulwich said in its 2022 annual report. Authorities have also moved to control the number of private schools. Dozens of schools, from kindergartens to high schools, have shut or stalled in the past two years.
Persons: Farah Master, Kane Wu, Julian Fisher, Fisher, Dulwich, Xi, It's, Frank Feng, Jimmy Chin, Nicholas Burns, Mathias Boyer, Casey, Roxanne Liu, Dorothy Kam, Muralikumar Anantharaman Organizations: Reuters, Dulwich College, Venture Education, Strategic, Education, Motion, Dulwich, British, Authorities, Dulwich's, Victoria Kid House, Western International School of, Everpine, Xi'an Jiaotong University, University of Science, Technology of, International School of Beijing, Casey Hall Locations: Kane Wu HONG KONG, British, China, Asia, China's, Beijing, Dulwich, Singapore, South Korea, U.S, Britain, Canada, Shanghai, Lucton, Greater Bay Area, Shenzhen, Eton, Guangzhou, Western International School of Shanghai, Xi'an, Technology of China, Anhui, Hong Kong
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