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Gold futures settle at a nearly two-week low

Gold futures fell Wednesday to settle at their lowest level in nearly two weeks as a rally in the U.S. stock market dulled investment demand for the precious metal. Major U.S. stock indexes traded in record territory, with the Dow Jones Industrial Average crossing the 20,000 level for the first time. February gold fell $13, or 1.1%, to settle at $1,197.80 an ounce. That was the lowest finish for a most-active contract since Jan. 13, according to FactSet data.

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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Trump spokesman Spicer says Mexico will pay for border wall ‘one way or another’

White House spokesman Sean Spicer said Wednesday Mexico will pay for a border wall with the U.S. “one way or another.” President Donald Trump signed executive orders Wednesday afternoon directing construction of what Spicer called a “large physical barrier.”

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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GM is top pick in autos at Morgan Stanley

General Motors Co. is “serious” about capital discipline and is likely to “significantly” return cash to shareholders, analysts at Morgan Stanley said in a note Wednesday as they made GM stock their top pick among car-maker shares. They also raised their price target on the shares by 5% to $42 a share, which represents an 11% upside from Wednesday’s prices. The analysts raised their 2017 per-share earnings forecast to $6.32, from $6.09. The company estimates EPS between $6 and $6.50 for the year. Shares of GM have gained nearly 30% in the last 12 months, which compares with gains of 22% for the S&P 500 index in the same period.

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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Who cares if the Dow hit 20K? Not most of us

On the floor of the New York Stock Exchange, at the offices of investment brokers, and in corporate boardrooms throughout the country, there were hearty celebrations on Wednesday morning as an artificial number hit an arbitrary target. People doffed cheap embroidered hats. They poured Champagne. Frivolity was the order of the day. But for the rest of us, the Dow hitting 20,000 doesn’t mean a damn thing. …read more

From:: Real Estate Wire

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Purchase Financing Drives Up Mortgage Applications

Although new refinance applications were little changed in the last week, an increase in purchase-money business pushed up overall activity.

On a seasonally adjusted basis, the Market Composite Index for the week ended Jan. 20 moved up 4 percent from one week previous.

The index, which is a measure of mortgage loan application volume, fell 5 percent from the last report when seasonal factors are excluded.

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From:: Financing

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‘Star Wars’ toys were tops in 2016 with $760 million in sales, says NPD

‘Star Wars,’ a Walt Disney Co. brand, was the top toy property of 2016, with sales of nearly $760 million, according to the latest data from The NPD Group. Sales in 2016 exceeded those in 2015, when it was also the top property, the organization said. U.S. toy sales grew 5% to $20.4 billion in 2016, according to the latest data from the NPD Group. Outdoor sports and toys, including summer seasonal toys, was the largest contributing category at $328 million. Games and puzzles was the fastest growing category, up 18% year-over-year in sales. Toy sales were up 28% the week before Christmas, “but it is likely this happened at the expense of other weeks in Q4,” according to NPD, which called the holiday season overall “mixed.” The toy industry was up 16% between 2016 and 2013, a compounded annual growth rate of 5%.

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From:: Stock Market News

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Shoppers expected to spend $14.1 billion on Super Bowl LI, down from last year – NRF

Consumers will spend an average of $75, or $14.1 billion total, on Super Bowl LI-related activities, down from an average of $82, or $15.5 billion total, last year, according to the latest Super Bowl Spending Survey from the National Retail Federation. An estimated 188.5 million are expected to watch the game on Feb. 5. Of the 76% of those surveyed who said they would watch the game, 80% said they’ll buy food and beverages, 11% said they’d buy team apparel and accessories, and 8% said they’d by a new television to watch at home. The survey found that 45 million people will host a Super Bowl party. More than three-quarters (78%) of viewers said they watch the commercials for entertainment, and only 10% said the spots influence a purchase. The NRF surveyed 7,591 consumers for the study.

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