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Funds continued to purchase NYMEX and ICE WTI (+16 million barrels), reflecting the intensifying squeeze on crude inventories around the delivery point at Cushing in Oklahoma. WTI purchases have totalled 152 million barrels over the five most recent weeks and taken the net position to 286 million barrels (60th percentile for all weeks since 2013). But funds were net sellers of Brent in the most recent week (-22 million barrels) after buying in the three previous weeks (+63 million). Chartbook: Oil and gas positionsOn the product side, fund managers were significant sellers of U.S. gasoline (-13 million barrels) and European gas oil (-7 million), which was only partially offset by some small buying of U.S. diesel (+2 million). U.S. NATURAL GASInvestors became increasingly bearish on the outlook for U.S. gas prices despite progressive elimination of the large inventory surplus inherited from 2022.

Persons: Nick Oxford, Brent, Cushing, John Kemp, Jan Harvey Organizations: REUTERS, ICE Futures, U.S . Commodity Futures Trading Commission, Funds, ICE, U.S ., U.S, Investors, Henry Hub, Climate, Nino, Thomson, Reuters Locations: Cushing , Oklahoma, Cushing, Oklahoma, Brent, Louisiana, U.S, Pacific, Saudi

☆ How to use technical analysis on a stock to help inform buy and sell decisions
▼ + stars: | 2023-10-01 | by ( Jim Cramer | ) www.cnbc.com time to read: +10 min

I was wondering if you could help us average investors interpret technical analysis versus fundamentals when they do not align. Technical analysts focus on stock charts — looking at momentum, relative strength indicators, volatility, and other indicators that are often referred to as the "technical setup." All this leads us to the question of what to do when the technical setup and fundamental setup don't align. As noted, we will buy a stock when our positive fundamental view is in contrast with a negative technical setup, but we would never buy a stock on which we have a negative fundamental view regardless of the technical setup. I was wondering if you could help us average investors interpret technical analysis versus fundamentals when they do not align.

Persons: Jim Cramer, Mark, —, Jim Organizations: Oracle, Club, CNBC Locations: Florida, —

☆ M&A activity will 'emphatically' pick up, PwC says
▼ + stars: | 2023-10-01 | by ( Josée Rose | ) www.businessinsider.com time to read: +3 min

"I'm very bullish that the M&A market will come back later this year or early next," PwC told Insider. PwC expects M&A activity to "emphatically" pick up. Many companies, having "done just fine" on recent fundraising tours, have built up war chests of capital they're now ready to deploy. He continued: I'm very bullish that the M&A market will come back later this year or early next. And I think you'll see things like the capital markets IPOs and things come back toward the back end of '24."

Persons: —, PwC, Dealmaking, Neil Dhar, they're, Dhar Organizations: Service, Companies, PwC, Reuters Locations: they're, —, Dhar

☆ Beware the bears: Why it's too easy to be a seller right now
▼ + stars: | 2023-10-01 | by ( Jim Cramer | ) www.cnbc.com time to read: +6 min

Now that we are almost back to normal via de-inversion, what does that say to the billionaire class? The stock sellers show no fortitude. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: —, Jerome Powell, Brent, didn't, Jim Cramer's, Jim Cramer, Jim, Kai Pfaffenbach Organizations: Treasury, Costco, Organization of Petroleum, Club, Costco Wholesale, Nike, Honeywell, Nvidia, Fed, Jim Cramer's Charitable, CNBC Locations: Saudi Arabia, Frankfurt, Germany

☆ Biden's top economist says the key to ending the housing crisis is giving cities and developers monetary incentives to build more affordable homes
▼ + stars: | 2023-10-01 | by ( Eliza Relman | ) www.businessinsider.com time to read: +5 min

Biden's top economist says high housing costs are a big part of economic pessimism in the US. A severe housing shortage is the main culprit for steep housing costs. In May, Biden unveiled a "Housing Supply Action Plan," which includes efforts to incentivize denser development and more affordable housing construction. The second way Biden is working to lower housing costs is helping developers with costs by expanding tax credits. The low-income housing tax credit subsidizes purchasing, building, and renovating affordable housing — and it's broadly popular among a variety of interests.

Persons: Jared Bernstein, —, We've, Bernstein, Biden Organizations: US, Council, Economic, Service, of Economic Advisers, Institute, Biden Locations: Washington, Congress

☆ Will US house prices soar or plunge? These 5 experts are divided.
▼ + stars: | 2023-09-30 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

US home prices have shrugged off the surge in mortgage rates over the past 18 months. Homeowners don't want to sell and lose their cheap mortgages, while buyers don't want to overpay. Barbara Corcoran, Jeremy Grantham, and other experts are split on whether prices will soar or sink. The upshot has been mortgage rates doubling to over 7%, sparking an affordability crisis. Jeremy Grantham, Barbara Corcoran, David Rosenberg, and other experts have shared drastically different outlooks for home prices.

Persons: Barbara Corcoran, Jeremy Grantham, —, overpay, David Rosenberg Organizations: Service

☆ The US housing market is starting to flash a few rays of sunshine for homebuyers
▼ + stars: | 2023-09-30 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

The US housing market is starting to flash a few rays of sunshine for prospective homebuyers. It comes as the housing market has been stuck, with sales activity stalling as high rates discourage buying and selling. In fact, the situation is so bad that Redfin CEO Glenn Kelman recently declared the market has hit "rock bottom." More precisely, the 30-year mortgage rate hit the highest level in 23 years, climbing further above 7%. In the existing home market, sellers are growing open to negotiating about the asking price, or offering concessions, like funding home repairs or a mortgage-rate buydown.

Persons: —, Glenn Kelman, Altos, Redfin, David Palmer Organizations: Altos Research, Service

☆ What are zero-day options? Here's how they're taking over a key corner of the stock market and why they could pose a big risk
▼ + stars: | 2023-09-30 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

It's been one year since the CBOE launched zero-day options contracts and they're starting to take over the stock market. Zero-day options expire the same day they are issued and they now make up 50% of S&P 500 options activity. A new ETF has launched utilizing the options contracts, and with enough scale they could jolt the stock market in a big way. AdvertisementAdvertisementThere's a new options trading product that is taking over Wall Street, and it could ultimately pose a big risk for the stock market as it gains in scale. Defiance recently launched two ETFs that write puts via zero-day options on the S&P 500 and Nasdaq 100.

Persons: It's, —, CBOE, JPMorgan, JPMorgan's Marko Kolanovic Organizations: Service, JPMorgan, Nasdaq Locations: YOLO

☆ Retail investors flock to bond ETFs in third quarter as prices slide
▼ + stars: | 2023-09-29 | by ( Bansari Mayur Kamdar | ) www.reuters.com time to read: +2 min

REUTERS/Cagla GurdoganDaily retail investor flows into the benchmark iShares 20+ Year Treasury Bond ETF touched their highest level last week since March 2020, according to data from Vanda Research. The fund saw net retail inflows rise to $1.2 billion so far this quarter, Vanda’s data showed, even as prices slid to their lowest level since 2010 amid a sharp rise in yields. The ETF saw retail net inflows of nearly $746 million in the second quarter. The iShares 20+ Year Treasury Bond ETF is down 13.3% in the third quarter and has fallen 10.4% year-to-date. Overall, the ETF saw nearly $3.9 billion in net inflows so far this quarter, according to Lipper data, slowing from nearly $6 billion last quarter but still on track to post its ninth straight quarter of inflows.

Persons: ”, Noel Archard, Ihor Dusaniwsky, Dusaniwsky Organizations: Reuters, Federal, REUTERS, Treasury, Vanda Research, Partners Locations: Ankara, Turkey

"We're definitely seeing a bit of a soft open in the IPO market", said Lizzie Reed, global head of the ECM syndicate desk at Goldman Sachs. Arm and Instacart shares briefly fell below their issue price, suggesting there is still some way before the IPO market fully recovers. Medical glass producer Schott Pharma (1SXP.F) debuted on the Frankfurt Stock Exchange on Thursday, with shares closing 16% above the IPO price. Klaviyo's shares are now trading at a 21% premium to their IPO price. "For the IPO market to open more broadly in the first quarter in 2024 ... we need the 2023 IPO cohort to continue to perform well," said Josh Weismer, head of U.S. ECM, Mizuho Americas.

Persons: Lizzie Reed, Goldman Sachs, IPOs, Robert Stowe ,, Suneel Hargunani, Schott, ThyssenKrupp, Hidrolectrica, Ross Devor, ”, Samir A, Gandhi, Stephane Gruffat, SoftBank, Josh Weismer, Echo Wang, Pablo Mayo, Anousha Sakoui, David Holmes Organizations: Bankers, ECM, Arm Holdings, Barclays, Citigroup, Schott Pharma, Frankfurt Stock Exchange, Thoma Bravo, Deutsche Bank, Nvidia, Apple, Qatar Investment Authority, U.S, Mizuho, Pablo Mayo Cerqueiro, Thomson Locations: United States, Europe, British, New York, U.S, IPOs, East, Africa, Romanian, Qatar, Mizuho Americas, London

☆ UAW to expand strike at Ford and GM, Fain says
▼ + stars: | 2023-09-29 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

New York CNN —The United Auto Workers union is expanding its strike to additional facilities of automakers Ford and GM, the UAW head said on Friday, adding that additional Stellantis members will not be called to go on strike. “We knew it was unlikely this was going to be quick,” Fain said on a livestreamed update. But, he said, “We’re excited about this momentum at Stellantis and hope it continues.”UAW President Shawn Fain said that Ford and GM have not made enough progress in meeting union demands, despite a strike that has gone on for 15 days. A week ago it added a series of 38 parts and distribution centers operated in 20 states by GM and Stellantis but did not expand the strike at Ford, saying that automaker had made significant progress in negotiations. As of noon Friday, there will be more than 25,000 UAW workers on strike, as Fain has called on an additional 7,000 members across Ford and GM to go on strike.

Persons: “, ” Fain, Shawn Fain, Ford, “ We’re, I’m, Fain, Joe Biden Organizations: New, New York CNN, United Auto Workers, Ford, GM, UAW, Chicago Assembly, Lincoln Aviator, Chevrolet Traverse, Buick Enclave, Chevy Silverado, Chrysler Locations: New York, Chicago, Lansing Delta, Michigan

In the past year, clothing retailers have sought to clear excess stock that had piled up due to a shift in consumer demand to essentials from discretionary items like clothing. But with fourth-quarter temperatures expected to start off warm, according to weather tracking firm Weather Trends International, stores carrying winter styles and gear could find themselves loaded with inventory at the end of the season. European company Pepco Group (PCOP.WA) also noted that the landing of its autumn and winter clothing inventory had coincided with persistent record-warm weather in its core Central and Eastern European markets. In the United States, temperatures could rise by 2 to 12 degrees Fahrenheit on average in the October-December period compared with last year, according to Weather Trends International. Abercrombie & Fitch (ANF.N) also said there was strong demand for "seasonless products" in the second quarter, particularly in the men's category, as customers picked out year-round clothing items and styles.

Persons: Helena Helmersson, Andy Bond, Bill Kirk, Clodagh, David Swartz, Robert Woods, Kristen D'Arcy, Abercrombie, Simon Wolfson, Ananya Mariam Rajesh, James Davey, Helen Reid, Matthew Lewis Organizations: Reuters, Pepco, Amazon.com, REUTERS, Walmart, Dick's Sporting, Costco Wholesale, Morningstar Research, Vision Brands, Fitch, Thomson Locations: United States, Europe, Cos, Eastern, Grafton, Dublin, Ireland, outerwear, Bengaluru, London

☆ 'Dumb Money,' the movie based on the 2021 GameStop trading frenzy, comes up short
▼ + stars: | 2023-09-29 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +3 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . I'm fascinated by Hollywood's interpretation of finance, from "The Wolf of Wall Street" and "Margin Call" to "The Big Short." The depiction of hedge fund managers Ken Griffin (Nick Offerman), Steve Cohen (Vincent D'Onofrio), and Gabe Plotkin (Seth Rogen), whose firm's GameStop short position put it in Reddit traders' crosshairs, came across as too over-the-top and cartoonish. But if satire was the direction the movie wanted — à la "The Wolf of Wall Street" — it should have pushed harder. Instead, Gill's stoner brother (Pete Davidson) has to carry the comedy load, but most of his jokes come up short.

Persons: —, Keith Gill, Paul Dano, Gill, Ken Griffin, Nick Offerman, Steve Cohen, Vincent D'Onofrio, Gabe Plotkin, Seth Rogen, Griffin, Pete Davidson Organizations: Service, GameStop, Wall

☆ Nvidia CEO's signature leather jackets are so popular that websites are selling lookalikes using his name and photo
▼ + stars: | 2023-09-29 | by ( Haley Tenore | ) www.businessinsider.com time to read: +4 min

Black leather jackets are a well-known staple in Nvidia CEO Jensen Huang's wardrobe. Online sellers are using his name and image in listings for lookalike leather jackets. AdvertisementAdvertisementNvidia CEO Jensen Huang is known for his signature black leather jackets — he's rarely seen in public without one. A Wilson Jackets product page titled "Jensen Huang Nvidia CEO Leather Jacket" offers faux and real leather lookalikes. AdvertisementAdvertisementA screenshot of a black leather jacket from Theory.

Persons: Jensen, Steve Jobs, Mark Zuckerberg, Huang, —, Jensen Huang, hoover, Huang isn't, Issey Miyake, Walter Isaacson's, Jobs, Zuckerberg, isn't, Joseph Rosenfeld, Tom Ford, Rosenfeld Organizations: Nvidia, Service, Google, Bloomberg, Wilson Jackets, Apple, Walmart, Meta's Connect, New York Times, Times Locations: Taiwan

Average 30-year mortgage rates reached a 23-year high of 7.31% this week, according to Freddie Mac. "However, unlike the turn of the millennium, house prices today are rising alongside mortgage rates, primarily due to low inventory. 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. 30-Year Fixed Mortgage RatesThis week, the average 30-year fixed mortgage rate was 7.31%, according to Freddie Mac.

Persons: Freddie Mac, Sam Khater, Freddie Mac's, it's Organizations: Federal, Zillow Locations: Chevron

☆ There's one 'lucky' group of homeowners in America's housing market, says a Zillow economist
▼ + stars: | 2023-09-29 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

US homeowners who are downsizing now are "lucky," Skylar Olsen, Zillow's chief economist told MarketWatch. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . For context, the value of the US housing market has surged about 50% from the pre-pandemic days in January 2020 to nearly $52 trillion now, according to a Tuesday report from Zillow. California is currently the US' most valuable housing market, per Zillow. The state's housing market is now worth over $10 trillion — nearly 20% of the national total.

Persons: Skylar Olsen, Olsen, —, Zillow's Olsen, Insider's James Rodriguez Organizations: Service, National Association of Realtors, MarketWatch, Census, NAR Locations: Zillow . California, Florida , New York , Texas, New Jersey

☆ TikTok's Southeast Asia ambitions to take a major hit with Indonesia ban
▼ + stars: | 2023-09-29 | by ( Sheila Chiang | ) www.cnbc.com time to read: +5 min

Aditya Aji | Afp | Getty ImagesTikTok's Southeast Asian ambitions will take a major hit after Indonesia bans shopping transactions on social media apps, analysts told CNBC. Indonesia has banned e-commerce transactions on social media platforms such as TikTok Shop and Facebook . Even if it can secure a separate license to operate, operating as a standalone app may still be challenging. "Even if it can secure a separate license to operate, operating as a standalone app may still be challenging," said Mittal. New social media rulesOn Saturday, Indonesia's President Joko Widodo called for social media regulations, saying such platforms impact micro-, small- and medium-sized companies and the economy.

Persons: Aditya Aji, Jonathan Woo, Sachin, Sachin Mittal, TikTok, Mittal, Joko Widodo Organizations: Facebook, Afp, Getty, CNBC, Phillip Securities Research, Sachin Mittal DBS Bank, U.S, DBS Bank, BMI, Momentum Works Locations: Bogor, West Java, Indonesia, Jakarta, China, Southeast Asia, U.S, Singapore, Montana, India

☆ China's chip equipment firms see revenue surge as Beijing seeks semiconductor self-reliance
▼ + stars: | 2023-09-28 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Washington has sought to use export restrictions to cut off Beijing from key semiconductor equipment and technologies. China's domestic semiconductor industry has previously heavily relied on foreign companies for these tools, leaving Beijing's industry behind the likes of the U.S., South Korea and Taiwan. That has underpinned the boost in revenues for China's domestic chip equipment manufacturing firms. CINNO names Naura Technology Group Co. as the top Chinese semiconductor equipment maker by revenue. The second-largest Chinese domestic player is Advanced Micro-Fabrication Equipment Inc. China (AMEC), which makes machines required for the semiconductor manufacturing process.

Persons: Florence Lo, CINNO Organizations: Reuters Revenue, Semiconductors, U.S, Huawei, China's, Naura Technology, Inc . China Locations: China, Beijing, Shanghai, China . Washington, U.S, South Korea, Taiwan

☆ What retailers have launched U.S. marketplaces since Amazon's FTC antitrust probe
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +1 min

The logo of Amazon is seen at the company logistics center in Lauwin-Planque, northern France, January 5, 2023. REUTERS/Pascal Rossignol/File Photo Acquire Licensing RightsNEW YORK, NY, Sept 28 (Reuters) - Amazon faces an antitrust lawsuit by the U.S. Federal Trade Commission (FTC) and 17 state attorneys general for what they call monopolistic pricing to customers and fees to the e-retailers' third-party sellers. The FTC's lawsuit is expected face many hurdles, but will be a warning sign for other online marketplaces that have launched in the U.S. on how to interact with customers and third-party sellers. Here is a list of the retailers who have launched online marketplaces since the FTC began investigating Amazon in 2019. Reporting by Arriana McLymore in New York City; Editing by David GregorioOur Standards: The Thomson Reuters Trust Principles.

Persons: Pascal, Arriana McLymore, David Gregorio Our Organizations: REUTERS, U.S . Federal Trade Commission, Amazon, Thomson Locations: Lauwin, France, NY, U.S, New York City

☆ Jittery markets may tie Dutch insurers' hands
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +2 min

LONDON, Sept 28 (Reuters Breakingviews) - Dutch insurers NN (NN.AS) and ASR (ASRNL.AS) have lost 3 billion euros of combined market value after court rulings in the Netherlands raised the prospect of large compensation claims. The respective 22% and 16% stock price collapse will put pressure on the two groups to reach a speedy resolution. But customers argue that the insurers marketing these policies failed to disclose how much of their premiums went to actual investments, and how much covered the sellers’ costs. Take Hague-based NN: it has 315,000 active woekerpolissen policies and 581,000 inactive ones, ING reckons. Its 2.1 billion euro market value loss is equivalent to a claim of 2,300 euros per policy.

Persons: Pamela Barbaglia, ’, quagmire, Neil Unmack, Streisand Neto Organizations: Reuters, ING reckons, JPMorgan reckons, Dutch, X, Thomson Locations: Netherlands, Ukraine

☆ How a Google loophole lets drug dealers hijack nearly any website — including our own
▼ + stars: | 2023-09-28 | by ( Katherine Long | ) www.businessinsider.com time to read: +15 min

Nor does it always appear to pay attention to other signals webmasters code in asking Google not to index their search results. It's why someone advertised how to buy cocaine and fentanyl in Pittsburgh on a National Institutes of Health website. It directs searchers to the Telegram user who offered to sell Insider cocaine, heroin, and methamphetamines. The proliferation of drug ads in search results lands amid a growing upswell of discontent with what some users and website owners say is the declining quality of Google Search. For now, a simple Google search leads prospective drug buyers to markets on Telegram.

Persons: Jake Swearingen, Jane, Ted Kubaitis, Katherine Long, Monica Barratt, Barratt, Kubaitis, Davis, Timothy Mackey, Mackey, Erin Lalor, Eric Schwartzman, They're, Zack Onisko, Dribbble Organizations: Google, Food and Drug Administration, Interpol, United Nations, Food, FDA, Ontario, UN, Drugs, US Postal Service, Cash, Telegram, Scottish, Royal Melbourne Institute of Technology, Centers for Disease Control, National Institutes of Health, Cleveland Clinic, Drug, Australian Alcohol and Drug Foundation, IRS, Tricare, Alabama Department of Public Health, East Tennessee State University, University of California, University of Chicago, The New York Times, Bloomberg, CNBC, The Washington Post, UC San Diego's Global Health, Data, Alcohol, Drug Foundation, East Tennessee University Locations: Ontario, Canada, cryptocurrency, Fresno , California, Pittsburgh, Clairton , Pennsylvania, New York, Dayton , Ohio, Goodlettsville , Tennessee, Alabama, Maine, Seattle

☆ Indonesia spoils TikTok’s Southeast Asia party
▼ + stars: | 2023-09-28 | by ( Anshuman Daga | ) www.reuters.com time to read: +4 min

Sandy Saputra, 19, who is one of TikTok's biggest Indonesian stars, uses his smartphone to record a video using the app in Jakarta, Indonesia, July 24, 2020. REUTERS/Willy Kurniawan - RC2PMI9KGQ5Q Acquire Licensing RightsSINGAPORE, Sept 28 (Reuters Breakingviews) - June must now feel like an alternate reality to TikTok CEO Shou Zi Chew. On Wednesday, though, President Joko Widodo’s administration banned e-commerce transactions on social media platforms. Indonesia is key to TikTok’s hopes of growing its e-commerce sales in Southeast Asia. CONTEXT NEWSIndonesian authorities on Wednesday announced new regulations that bar social media companies from conducting direct e-commerce sales on their platforms.

Persons: Sandy Saputra, Willy Kurniawan, Shou Zi Chew, Joko, Zulkifli Hasan, TikTok, “, GoTo, Antony Currie, Katrina Hamlin Organizations: REUTERS, Rights, Reuters, Trade, HK, Wednesday, Thomson Locations: Indonesian, Jakarta, Indonesia, Rights SINGAPORE, Southeast Asia, Singapore

☆ Taylor Swift is about to make Travis Kelce a whole lot richer
▼ + stars: | 2023-09-28 | by ( Madeline Berg | ) www.businessinsider.com time to read: +7 min

Since Taylor Swift was spotted cheering on the Kansas City Chiefs tight end on Sunday, his profile has skyrocketed. After social media posts earlier this month ignited speculation, rumors of a relationship between the Kansas City Chiefs tight end and Taylor Swift have been heating up. AdvertisementAdvertisementKelce's new social media followers, meanwhile, could mean a payoff that lasts longer than a quick fling. As he's moved up the social media ranks — he now has 3.4 million followers, compared with Mahomes' 5.8 million — his earnings could multiply. Swift, by comparison, has 272 million followers on Instagram, and it's likely many of them have different interests frp, Kelce's typical fans.

Persons: Travis Kelce, Taylor Swift, —, Donna, Kelce, Jason, Bob Dorfman, Tom Brady, Kelce's, Patrick Mahomes, Sportico, he's, OpenSponsorship, Ishveen Jolly, Jolly, Swift, Dorfman, Chase Garrett, Oprah Winfrey, Dr, Oz, Toni Morrison, Joe Alwyn, Taylor, who's Organizations: Kansas City Chiefs, Service, Arrowhead, SocialBlade, Associated Press, Apple, Pinnacle Advertising, NFL Players Association, US Department of Labor, NFL, Nike, Pfizer, —, Sports, Billboard, Prada, Chiefs, Jets Locations: doesn't, Travis

☆ Dollar shines as oil surge spooks investors
▼ + stars: | 2023-09-28 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. U.S. crude rose 3.6% overnight and another 1% on Thursday to hit $95 a barrel for the first time since August 2022. "The rise in oil increased the upward pressure on bond yields (and) the combo of higher oil, higher yields, and a higher greenback tends not to augur well for equities." It is down more than 3% in September to eye its largest monthly fall on the dollar since April 2022. Shares in indebted developer China Evergrande (3333.HK) were suspended after a report that its chairman was placed under police surveillance.

Persons: Brendan McDermid, Brent, Kyle Rodda, HSI, Gold, Muralikumar Organizations: New York Stock Exchange, REUTERS, Japan's Nikkei, HK, Thomson Locations: New York City, U.S, Hong Kong SINGAPORE, Cushing , Oklahoma, Asia, Pacific, Japan, China, .

☆ Pending home sales plunged in August as 2-decade high mortgage rates continue to squeeze both buyers and sellers
▼ + stars: | 2023-09-28 | by ( Aruni Soni | ) www.businessinsider.com time to read: +2 min

Pending home sales slipped 7.1% in August in another sign of the housing market's slump. Multi-decades high mortgage rates are keeping homebuyers out of the market. AdvertisementAdvertisementPending home sales slipped 7.1% in August compared to July, according to the National Association of Realtors. "Mortgage rates have been rising above 7% since August, which has diminished the pool of home buyers," said Lawrence Yun, NAR chief economist, in the release. Home sales dipped from August across all regions of the country, falling the most in the South, where pending sales recorded a drop of 9%.

Persons: —, Lawrence Yun, Glenn Kelman, NAR's Yun Organizations: Service, National Association of Realtors, NAR

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