Foreclosures | Mortgages | Financing
The expected volume of residential loan originations has been cut by $56 billion for this year and next year. Last year’s refinance estimate, meanwhile, has been boosted.
From Jan. 1, 2018, through the end of March, $369 billion in mortgages, including loans to finance a home purchase and refinances, are expected to be closed.
Business is projected to climb to $467 billion in the second quarter before falling to $447 billion during the following three-month period.
From:: Financing
The Dow industrials and S&P 500 on Friday logged their sixth straight advance on Friday, but the Nasdaq lagged its peers, as political drama sparked turbulent trade late in the session. Still, the benchmarks produced their best weekly rise in years, as the stock market attempts to claw back from last week’s 10% pullback. The Dow Jones Industrial Average closd up about 19 points, or 0.1%, at 25,212, while the S&P 500 index ended up about a point, or less than 0.1%, at 2,732. The Nasdaq Composite Index , meanwhile, closed down roughly 17 points, or 0.2%, at 7,239. Stocks took an afternoon hit after Deputy Attorney General Rod Rosenstein said Friday’s indictment by the Justice Department of Russian individuals and other entities included no allegation that any American knowingly colluded with Russia in trying to influence the 2016 presidential election. However, Rosenstein said there’s no charge that any American participated. For the week, the Dow and S&P 500 returned 4.3%, while the Nasdaq put in a weekly advance of 5.3%, marking its best weekly rise since 2011.
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.
From:: Stock Market News
The Federal Reserve Board is looking to fine and permanently bar former Barclays employee Peter Little over manipulation in the currency market. Little, the former head of Barclays’ foreign exchange spot trading desk in New York, is “alleged to have engaged in unsafe and unsound practices by using electronic chat rooms to coordinate with traders and competitor banks to influence FX pricing benchmarks,” the Fed said in a statement on Friday. Little is also being accused of failing to supervise his subordinates. The Fed is seeking to fine him $487,500 and bar him from working in the banking industry. This is the third time the central bank’s board of governors has taken action against Barclays or its employees, following the barring of former FX traders Christopher Ashton and Michael Weston. The move to censure Little comes after domestic and U.K. regulators have slapped foreign-exchange traders at prominent banks with hefty fines over the past several years for allegedly using chat rooms to manipulate currency closing prices, or fixes, for everything from the U.S. dollar to the Japanese yen .
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.
From:: Stock Market News
The indictment of 13 Russians for breaking U.S. laws to interfere with the 2016 election show there was “no collusion” between Donald Trump’s presidential campaign and Russia, White House press secretary Sarah Huckabee Sanders said. Trump has been briefed on the indictment, Sanders said, and the president tweeted that the campaign “did nothing wrong.”
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From:: Stock Market News
Apple Inc.’s stock rose 0.3% in afternoon trade, putting it on track for the sixth-straight gain. The 11.8% the stock has climbed during that streak, which began after it closed at a four-month low on Feb. 8, would be the biggest six-session percentage gain since it climbed 12.7% in the six sessions ending May 1, 2014. That six-day rally was kicked off by better-than-expected fiscal second-quarter results and after the company boosted its capital return program to $130 billion. The stock’s current bounce coincides with the bounce in the broader stock market. The Dow has rallied 1,426 points, or 6.0%, amid a six-session win streak.
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.
From:: Stock Market News
Oil futures ended higher Friday, holding gains after data showed another rise in the number of U.S. drilling rigs. West Texas Intermediate crude for March delivery rose 34 cents, or 0.6%, to end at $61.68 a barrel. For the week, the U.S. benchmark rose 4.2%, cutting its month-to-date decline to 4.7%, according to FactSet data.
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From:: Stock Market News
Special Counsel Robert Mueller on Friday announced a guilty plea with Richard Pinedo, saying the American man used stolen identities in connection with defeating security features of digital payment companies. The plea deal followed an indictment of 13 Russians for breaking U.S. laws to interfere with the 2016 elections. The Pinedo announcement does not mention the 2016 election.
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From:: Stock Market News
The Dow Jones Industrial Average bounced back, coming off its lows, Friday afternoon after Deputy Attorney General Rod Rosenstein said no American knowingly colluded with Russia in trying to influence the 2016 election. Rosenstein during a news conference said that there’s no evidence efforts to impact that presidential vote were successful. The Dow Jones Industrial Average was up 84 points, or 0.3%, at 25,281, in recent trade, the S&P 500 index rose 0.4% at 2,740, while the Nasdaq Composite Index added less than 0.1% at 7,259. The stock market turned lower Friday afternoon following reports that 13 Russians were indicted for attempting to interfere with the 2016 election. Rosenstein said there’s no allegation any American participated in unlawful activity.
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From:: Stock Market News
Clean Energy company NextEra Energy said Friday it is raising its quarterly dividend by 13% to $1.11. The new dividend will be payable March 15 to shareholders of record as of Feb. 27. The board further approved a two-year extensions of its dividend policy, which is expected to lead to 12% to 14% increases per year through at least 2020. Shares rose 1.1%, but are down 0.1% in the last 12 months, while the S&P 500 has gained 17%.
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From:: Stock Market News
Oil futures maintained gains Friday after data showed a rise in the number of U.S. oil rigs this week. Baker Hughes said the number of U.S. oil rigs rose to 798 versus a total of 791 a week ago. West Texas Intermediate crude for March delivery was up 36 cents, or 0.6%, at $61.53 a barrel.
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.
From:: Stock Market News