Month: September 2015

An auction of 10-year U.S. Treasury notes received strong demand Wednesday afternoon. The yield on the auctioned notes was 2.235%, down 0.9 basis point from the 10-year yield immediately before the results were released. Indirect bidders, a proxy for foreign central banks, took 57.5% of the notes, compared with an average of 58%. Direct bidders, a measure of domestic demand, took 13.8% of the notes, compared with an average of 11%. Yields were little-changed after the auction, with the 10-year up 3.8 basis points on the day to 2.231%.

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From:: Stock Market News

The U.S. Energy Information Administration lowered its 2015 forecasts for West Texas Intermediate crude prices and U.S. oil production, in a monthly report issued Wednesday. The government agency said it expects WTI prices to average $49.23 a barrel this year, down from a previous forecast of $49.62. The EIA also said it expects U.S. crude-oil output of 9.22 million barrels a day this year, down from a prior estimate of 9.36 million barrels. October crude fell 64 cents, or 1.4%, at $45.30 a barrel on Nymex.

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From:: Stock Market News

BlackRock Inc. Chief Executive Larry Fink traveled to China in late August at the invitation of the country’s government to discuss market turmoil there, CNBC reported Wednesday, citing unnamed sources. The request came amid a prolonged drop by China’s stock market that sent ripples through global markets. BlackRock is the world’s largest asset manager with around $4.7 trillion under management. A BlackRock spokesman didn’t immediately respond to a request for comment.

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From:: Stock Market News

By Rachel Jefferson

Now that we’re getting ready for fall and winter months, maintenance requests may increase as heaters break and gutters fall off due to heavy rain. Renters might try to fix these things themselves which could result in more work for you property managers. Trulia shares who fixes what: bottom line is let the landlord do their job! But it’s important that you respond quickly to your renters’ maintenance issues before they take matters into their own hands.

on Trulia.com.

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From:: Property Management

By Brian Bandell

Eight companies owned by homebuilder John B. Kennelly filed Chapter 11 on Sept. 8 with more than $39 million in debt.

Their homes and home sites in Broward and Palm Beach counties were scheduled for foreclosure auction on Wednesday after BI Boca Boynton Portfolio, an affiliate of Miami-based BridgeInvest, won a $38 million foreclosure judgment against Kennelly. The bankruptcy court filings automatically stayed the foreclosure auction.

Boca Raton attorney Bradley Shraiberg, who represents Kennelly’s… …read more

From:: biz journal foreclosures

Options traders are preparing for a relatively big move in Apple Inc.’s stock , following the technology giant’s hardware event later Wednesday. Based on an options strategy known as a “straddle,” which involves the simultaneous buying of bullish and bearish options with strike prices at current levels, implies a post-event one-day move of about 3% in either direction. On the day of the eight previous Apple events to introduce new iPhone models, the average move was a gain of 0.2%, while the median move was a decline of 0.6%, according to data provided by BTIG Research. One day after the Apple event, the stock gained 1.5% on average, while the median rise was 2.1%, according to BTIG data. The stock was up 0.3% in choppy morning trade on Wednesday, and has been up as much as 1.3% and down 0.5% at its intraday extremes. Apple’s event is scheduled to kick off at 1 p.m. Eastern.

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From:: Stock Market News

WASHINGTON (MarketWatch) – Spending on health care in the U.S. rose 2.2% in the second quarter, more than offsetting a revised 0.5% decline in the first three months of the year. Higher health-care spending contributed to a 3.7% increase in U.S. gross domestic product in the second quarter. Over the past year health spending has risen 6.7% pace, down from 7.1% in the first quarter. Hospital outlays rose 1% in the second quarter and they are up 8.1% in the past 12 months. Health care is the second biggest service sector by spending, with services accounting for much as four-fifths of all U.S. economic activity.

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From:: Stock Market News

The Canadian dollar strengthened Wednesday after policy makers from the Bank of Canada said they would leave its benchmark interest rate steady, as was widely expected. The central bank kept its main rate target at 0.5%, where it has stood since the central bank’s July meeting. The loonie was recently up 0.3% on the day to 75.91 cents. The Bank of Canada previously lowered interest rates and lowered its forecasts for growth as falling commodity prices squeezed Canada’s economy. Canada is the world’s seventh-largest oil exporter, according to the CIA World Factbook.

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From:: Stock Market News

WASHINGTON (MarketWatch) — Job openings rose to a new record of 5.75 million in July, from 5.32 million in June, the Labor Department reported Wednesday. The government started tracking the data in Dec. 2000. The job openings rate rose to 3.9% after staying at 3.6% the prior three months. Despite the rise in job openings, hiring actually fell to 4.98 million from 5.18 million in June, as did the number of separations, which fell to 4.72 million from 4.91 million. The quits rate — a measure of worker confidence — stayed at 1.9% for the fourth month.

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From:: Stock Market News

WASHINGTON (MarketWatch) — A new study released Wednesday finds that home building is trailing jobs growth in nearly two-thirds of metropolitan areas. The National Association of Realtors looked at job creation in 146 metro areas from 2012 to 2014 relative to single-family and multifamily housing starts over the same period. Historically, the average ratio for the annual change in total workers to total permits is 1.2 for all housing types. The NAR found 63% of measured markets had a ratio above 1.2 and 72% had a ratio above 1.6, which indicates inadequate new construction, the trade group said.

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From:: Stock Market News