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
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
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
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
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
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
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, 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
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
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