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Dow flirts with largest one-day drop in 2 weeks at its nadir as VIX kicks above 20

The Dow Jones Industrial Average late Tuesday was trading near session lows and set for its sharpest one-day drop since Feb. 8, when the benchhmark unraveled by more than 1,000 points. At its low, the Dow was off about 335 points, or 1.3%, at 24,884.19, but was most recently off 260 points at 24,962. The blue-chip gauge has been under pressure throughout the session on the back of weakness in shares of Walmart Inc. after the retailing giant reported fourth-quarter results that showed some softness in its online business. Selling pressure accelerated for the Dow with about an hour left in regular trade. Walmart shares were on track to mark the worst point decline on record, which was subtracting about 70 points from the Dow. A $1 move in any one of the Dow’s 30 components translates to a 6.89-swing in the price-weighted average. Meanwhile, the S&P 500 index was down 0.6% at 2,715, while the Nasdaq Composite Index , which had held on to modest gains throughout the session, was off 0.1% at 7,229. Meanwhile, a measure of volatility was trading above its historical average at 20. The CBOE Volatility Index was up at 20.89, which typically suggests that stock investors are expecting increased volatility in the coming month.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

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Creating a Positive Mindset and Leading by Example

By Susanne Dwyer

Newhouse_Charleen

In the following interview, Charleen Newhouse, branch manager of Realty ONE Group in Irvine, Calif., discusses the advantages of the brand, leading a team, and more.

Region Served: Coastal California, from San Diego to Ventura County
Years in Real Estate: 23
Number of Offices: 1
Number of Agents: 387
Best Tip for Getting the Right Listing Price: Know the inventory better than the consumer.
Key to Dealing With Difficult Clients: Be a problem solver and listen without interrupting.
Best Time Management Tip: Time-blocking. It’s also important to add an extra 30 minutes to each appointment.
No. 1 Tip for Running a Successful Agency Meeting: Make sure the energy is high and the topics are great. And always include a takeaway, such as a prospecting, marketing or negotiating tip.

Your company exceeded $1 billion in sales three years running. How much of that do you attribute to the way Realty ONE Group is changing agent habits and work ethics?
While Realty ONE Group’s forward-thinking approach allows the agent to think like a business owner, I make it a point to show them how they must outperform the competition and stand apart from tradition. We place great emphasis on both accountability and goals, which has pushed our office to continue to be on top. And last, but not least, while others fear technology, we embrace it.

How do you motivate so many successful agents into the winning team you have in SoCal?
Not everyone has passion, so you must help create a positive mindset and lead by example. I conduct anywhere from 12-15 classes a month, which cater to all agents, not just newer associates. In addition to always being available, I also offer one-on-one coaching and even take part in agents’ appointments. I’m a firm believer in the notion that positive synergy creates a profitable outcome.

What keeps your team top of mind with prospective clients, existing clients and within the communities you serve?
We have a strong marketshare in our area, and closing over a billion dollars in sales shows that our office has a competitive edge. Realty ONE Group pays for our exposure in both digital and traditional media, which shows that we’ve gained from our global reach. Our company continues to show brand value and build credibility with our clients, as well. Agents will always support a brand that connects with them emotionally.

Where do you stand when advising clients on marketing their home during the winter season?
Some of the most motivated buyers/sellers market their home during this time of year. Reduced competition is yet another advantage. That being said, our market continues to be dynamic because of online listings.

For more information, please visit www.realtyonegroup.com.

For the latest real estate news and trends, bookmark RISMedia.com.

The post Creating a Positive Mindset and Leading by Example appeared first on RISMedia.

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From:: Real Estate News

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Square is in a ‘live-with-it, die-with-it relationship’ with Bitcoin, says analyst

BTIG analyst Mark Palmer reiterated his sell rating on Square Inc. shares Tuesday, writing that share price fluctuations in recent months have been similar to Bitcoin price fluctuations, though that’s not the main reason for his caution. “While that connection seems to have worked to Square’s benefit during the latter portion of that ride given that Bitcoin has been rallying, it served as confirmation that Square’s stock has become tethered to the movements of a volatile cryptocurrency – a live-with-it, die-with-it relationship that we do not believe is conducive to the sustenance of a lofty multiple,” Palmer wrote. He’s one of two analysts with a sell rating on Square’s stock, according to FactSet, and his concerns stem mainly from Square’s valuation, with shares trading at nearly 26 times consensus estimates for adjusted Ebitda in 2020. “Its valuation already reflects unimpeded rapid growth when competitive, credit-related and macro factors that could moderate the pace of its expansion remain very much in play,” Palmer added. Square shares are up 3.5% in Tuesday trading and 215% over the past 12 months, while the S&P 500 Index is up 16% over the past year.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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Gold marks worst daily drop in about a 1 1/2 years as dollar gains steam

Gold prices finished sharply lower on Tuesday, marking the sharpest daily decline in more than a year, against a backdrop of rising gold and stabilizing equities. April gold ended off $25.10, or 1.9%, at $1,331.20 an ounce, representing its steepest single-session pullback since a $33.90 drop, or 2.9%, on Dec. 15. 2016, FactSet data show. The tumble for precious metals comes as many Asian investors, big buyers in the commodity, continue to observe Lunar New Year. weighing on buying momentum. The decline also comes against the backdrop of a U.S. dollar, measured by the U.S. ICE Dollar Index , gathered some upward momentum, up 0.6% at 89.69, after registering a weekly decline of 1.4% last week. Meanwhile, the Nasdaq Composite Index, a proxy for risk appetite against haven assets, was up 0.6% at 7,281, even as a steep decline in shares of retailer Walmart Inc. weighed mightily on the broader market. The Dow Jones Industrial Average , where Walmart is a major component, was off 135 points, or 0.5%, at 25,088, while the S&P 500 index was down 0.1% at 2,729.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

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Supreme Court Deals Blow to GSE Investors

The Supreme Court has denied a request by speculative investors in the government-sponsored enterprises to reconsider a case against the government. The decision could open the door to an initial public offering.

At issue are Senior Preferred Stock Purchase Agreements put in place with the Department of the Treasury when Fannie Mae and Freddie Mac were thrust into conservatorship in 2008.

An August 2012 amendment made to the PSPAs required that Fannie and Freddie pay a variable dividend to the Treasury based on the amount that their net worth exceeded the required capital buffer.

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CFRA upgrades Home Depot to buy from hold on better-than-expected earnings

CFRA upgraded the stock of Home Depot Inc. Tuesday, after the home-improvement retailer reported stronger-than-expected earnings for the fourth quarter. Analyst Victor Ahluwalia upgraded the stock to buy from hold and raised his 12-month price target by $39 to $209, ” accounting for HD’s premium valuation against peers, justified by superior margins, an outlook for further same-store sales, and market share gains in 2018.” Ahluwalia is expecting the company to benefit from additional home price appreciation and stronger consumer demand, aided by the revamp of the U.S. tax code in December. Home Depot shares were up 1.4% in early afternoon trade, while the Dow Jones Industrial Average was down 0.3%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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NCAA strips University of Louisville of 2013 national championship

The men’s college basketball championship won by the University of Louisville in 2013 is being vacated after an NCAA appeal panel upheld a previous ruling, along with a Final Four appearance the previous season, according to a Washington Post report. In all, according to the breaking report, 123 Louisville wins are being erased from the record books. The NCAA ruling, called “simply wrong” by the university’s interim president, according to the Post, was linked to a scandal involving the hiring of prostitutes to have sex with recruits and players, and unrelated to a separate FBI probe into suspected corruption in the university’s storied basketball program under the leadership of then-coach Rick Pitino and then–athletic director Tom Jurich. Louisville won previous NCAA titles in 1980 and 1986.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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Alternative Valuations Could Hurt RMBS Quality

Increased utilization of alternative real estate valuations could have a negative impact on the quality of residential mortgage-backed securities. But there are some positives to the shift.

In an effort to cut operational costs, increase efficiencies and address the declining number of real estate appraisers, home lenders are expected to use more appraisal alternatives.

The alternatives include hybrid appraisals, broker price opinions and automation valuation models. Each method presents different strengths and challenges.

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From:: Financing

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Serious Mortgage Delinquency Deteriorates

First mortgage serious delinquency moved higher last month. Recently rising interest rates on residential loans have not yet impaired consumers’ ability to qualify for new mortgages.

Ninety-day delinquency on consumer credit was 0.95 percent as of Jan. 31, according to the Composite Consumer Credit Default Index. The rate deteriorated 4 basis points from one month previous.

Serious delinquency has ascended 3 BPS from the same date last year based on the index, a reflection of the performance on car loans, bank cards and first and second mortgages.

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Walmart’s stock is on track for its worst point drop in its history as a publicly traded entity

Shares of Walmart Inc. late-Tuesday morning were getting walloped, with the retailing giant on pace to log its worst dollar decline of all time and its worst percentage drop since October of 2015, according to FactSet data. The world’s largest retailer was under heavy selling pressure after it said online sales growth slowed during the fourth quarter. That marks a turn from three quarters of strong online growth, for the Bentonville, Ark.-based company as it attempts to wage war against rival and retailing behemoth Amazon.com Inc. . Walmart has been a publicly traded company since the early 1970s. On the upside, Walmart reported that sales in existing stores rose 2.6% in the fourth quarter, representing its 14th consecutive quarter of growth. Walmart’s decline was weighing on the broader market, yanking the Dow Jones Industrial Average , where it is a component, down by about 70 points, while the S&P 500 index’s consumer-staples sector, as measured by the Consumer Staples Select Sector SPDR ETF , was also getting whacked, with declines there weighing on the broad-market S&P 500. Nearly all the components of the XLP, referring to its ticker, were trading in negative territory. Most recently, the Dow was off 130 points, or 0.5%, the S&P 500 index was down 0.2% at 2,726, while the technology-laden Nasdaq Composite Index was up 0.3% at 7,264, bucking the overall Walmart-driven slide for U.S. equities.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News