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Trial date set for former LandCastle Title CEO Nat Hardwick

Exactly one year ago, federal authorities arrested Nathan (Nat) Hardwick, the former chief executive officer of LandCastle Title and former managing partner of Morris Hardwick Schneider, on charges that he embezzled millions of dollars from his former companies. And exactly one year from now, Hardwick will stand trial for allegedly conspiring to steal more than $20 million from the attorney escrow accounts and operating accounts of Morris Hardwick Schneider and LandCastle Title. …read more

From:: Real Estate Wire

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Dow closes at 11th straight record as stocks finish week higher

The Dow industrials and S&P 500 finished at records Friday as the Dow continued its streak of closing highs and daily gains despite a selloff of financial and energy shares. The Dow Jones Industrial Average rose 11.44 points, or less than 0.1%, to finish at 20,821.76, its eleventh straight session of record closes, led higher by shares of Wal-Mart Stores Inc. and Johnson & Johnson Inc. and hampered by shares of Goldman Sachs Group Inc. and J.P. Morgan Chase & Co. . For the week, the Dow closed up 1% for its third week of gains. The S&P 500 index closed up 3.53 points, or 0.2%, at a record 2,367.34, with utilities and telecom stocks leading gains and energy and financial stocks weighing on the index. For the week, the S&P 500 closed up 0.7% for its fifth straight week of gains. The Nasdaq Composite index finished up 9.80 points, or 0.2%, at 5,845.31, just shy of a record, for a 0.1% gain on the week and its fifth straight week of gains.

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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White House pushes back on reported Cohn border-adjustment comment

The White House was pushing back Friday after a report said National Economic Council Director Gary Cohn told a business group the Trump administration doesn’t support the House Republicans’ border adjustment tax plan. A White House official told MarketWatch Cohn’s comment to the group was taken out of context and Cohn didn’t state support or opposition to the plan.

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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Waning Refinances Drive Up Mortgage Fraud Risk

As the share of refinance mortgage originations continues to subside, more risky financing for home purchases is driving up the level of mortgage fraud risk.

As of January, the Loan Application Defect Index — an estimate of the frequency of defects, fraud and misrepresentation on mortgage applications — was 73.

Compared with the final month of last year, the index moved higher by almost 6 percent. But a 4 percent year-over-year reduction in the index was recorded.

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From:: Financing

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Intuit stock on track for record high in busy tax season

Shares of Intuit Inc. climbed 5.5% on Friday after the TurboTax parent reported a sharp rise in revenue that trumped expectations and increased its revenue outlook for the current quarter, despite previously warning that tax season had been off to a slow start. The company reported a nearly 50% increase in subscribers during the quarter. Shares traded around $127.47 in afternoon trade, putting them on track for record high, $7 above the company’s previous record of $120.70, notched Thursday. They stock is up more than 10% in the past three months and nearly 30% in the past year, outperforming the S&P 500 , up 7% in three months and 22% in a 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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From:: Stock Market News

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Inuit stock on track for record high in busy tax season

Shares of Intuit Inc. climbed 5.5% on Friday after the TurboTax parent reported a sharp rise in revenue that trumped expectations and increased its revenue outlook for the current quarter, despite previously warning that tax season had been off to a slow start. The company reported a nearly 50% increase in subscribers during the quarter. Shares traded around $127.47 in afternoon trade, putting them on track for record high, $7 above the company’s previous record of $120.70, notched Thursday. They stock is up more than 10% in the past three months and nearly 30% in the past year, outperforming the S&P 500 , up 7% in three months and 22% in a 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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From:: Stock Market News

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Retail sector whipsawed higher after report that White House doesn’t support GOP’s border tax plan

The retail sector whipsawed higher Friday, after National Economic Council Director Gary Cohn reportedly said the White House doesn’t support the GOP’s border-adjustment tax plan. That came less than 24 hours after Trump sent the sector reeling, after he reportedly expressed approval of a border-adjusted taxes. The SPDR S&P Retail ETF jumped 1.7% in afternoon trade, after being down as much as 0.5% earlier in the session. The ETF had slumped 2.3% on Thursday, after Trump told Reuters he approved of a border-adjusted tax. Among some of the ETF’s components, shares of Wal-Mart Stores Inc. rose 1%, of Target Corp. climbed 2.3% and of Home Depot Inc. gained 0.6%. The ETF has lost 6.4% over the past three months, while the S&P 500 has gained 7.0%.

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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Gold climbs for 4th straight week as dollar softens

Gold climbed for a fourth straight week Friday to highs not seen for three months as the dollar softened and traders grew anxious over timelines for President Donald Trump’s pro-business plan rollout and other geopolitical concerns. Gold for April delivery rose $6.90, or 0.6%, to settle at $1,258.30 an ounce, its highest finish since Nov. 10, for a weekly gain of 1.6%. Silver for March delivery advanced 22 cents, or 1.3%, to settle at $18.34 an ounce, for a weekly gain of 1.6%. The U.S. Dollar Index , which had traded lower earlier in the session, was last up less than 0.1% at 101.07.

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