Mortgage rates fall for the fourth consecutive week

Mortgage rates fall for the fourth consecutive week

washington d.c. CNN — Mortgage rates fell slightly this week, with a slight rate hike by the Federal Reserve signaling a promising improvement in inflation. The 30-year fixed-rate mortgage averaged 6.09% in the week ending Feb. 2, down 6.13% the previous week, according to Freddie Mac data released Thursday. A year ago, the 30-year fixed … Read more

Is virtual reality a way to fight against loneliness in the elderly?

Is virtual reality a way to fight against loneliness in the elderly?

Carl Hortsmann found a way to take his 87-year-old father scuba diving on the Great Barrier Reef, skiing for the first time, and taking him to visit his old neighborhood in Union, NJ, where he grew up – all with the help of virtual reality. As part of an early phase of a clinical trial … Read more

This trader made two major market calls in 2022. She says investors are “paid to wait” and should therefore avoid stocks for 2023.

This trader made two major market calls in 2022. She says investors are “paid to wait” and should therefore avoid stocks for 2023.

Ahead of major tech earnings, Meta results set to illuminate Nasdaq Composite COMP for Thursday. The S&P 500 SPX also points to gains as investors take a half-full view of the Fed meeting. The founder of LaDucTrading.com, Samantha LaDuc. “The market is not expecting a higher terminal rate, slower growth, or recession. One or more … Read more

Gautam Adani fails to calm investors amid market chaos that wiped out billions

Gautam Adani fails to calm investors amid market chaos that wiped out billions

New Delhi CNN — Indian billionaire Gautam Adani tried to reassure investors on Thursday after suddenly abandoned $2.5 billion stock sale of its flagship company. “For me, the interests of my investors are paramount and everything is secondary,” the 60-year-old businessman said in a registered video address. “Once the market stabilizes, we will review our … Read more

Opinion: Zuckerberg and Intel are shipping the proceeds of their layoffs straight to Wall Street

Opinion: Zuckerberg and Intel are shipping the proceeds of their layoffs straight to Wall Street

For years, Wall Street has complained about Silicon Valley’s refusal to pay dividends and buy back shares as tech companies become cash-generating machines. That’s no longer a problem, even though these tech companies are generating less profit than they did in previous years. In fact, some tech companies are essentially paying off Wall Street even … Read more

California floated cutting off major southwestern cities from Colorado River water before hitting its agricultural supply, sources say

California floated cutting off major southwestern cities from Colorado River water before hitting its agricultural supply, sources say

CNN — In a closed-door negotiation last week on the fate of the Colorado Riverrepresentatives from California’s powerful water districts have offered to model what the basin’s future would look like if some of the largest cities in the West – including Phoenix and Las Vegas – were cut off from the river’s water supply, … Read more

Biden administration moves one step closer to advancing controversial Alaska oil drilling project

Biden administration moves one step closer to advancing controversial Alaska oil drilling project

CNN — The Home Office’s Land Management Bureau advanced on Wednesday them controversial Willow oil drilling project on the Alaska North Slope, issuing the final environmental impact statement before the project can be approved. The Willow Drilling Plan proposed by ConocoPhillips is a massive, decades-long project that the state’s bipartisan congressional delegation says will create … Read more

Michael Burry says sell and Jim Cramer says buy. As the Fed meets, here’s how they could both be wrong about stocks.

Michael Burry says sell and Jim Cramer says buy.  As the Fed meets, here’s how they could both be wrong about stocks.

Michael Burry, the hedge fund manager at Scion Asset Management who correctly predicted the 2008 financial crisis, Tuesday night sent a one-word tweet: “To sell.” Burry didn’t elaborate, but it’s not hard to fill in the blanks. Assets like bitcoin and ARK Innovation ETF surged in January, in an apparent rush to trash the idea … Read more

Pre-market equities: Will the Fed end the 2023 stock market rally?

Pre-market equities: Will the Fed end the 2023 stock market rally?

A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber ? You can register here. You can listen to an audio version of the newsletter by clicking on the same link. Washington CNN — Investors appear to be gearing up for another match against their favorite sparring partners … Read more

Bed Bath and Beyond is closing another 87 stores. See the list

Bed Bath and Beyond is closing another 87 stores.  See the list

New York CNN — Bed bath and beyond is closing another 87 stores as the struggling retailer heads into bankruptcy. Store closures add to 150 Bed Bath and Beyond closures announced last August. The new listing includes 5 buybuy Baby locations and the remaining 49 Harmon Face Value stores, which once sold cosmetics. “As we … Read more