Foreclosures | Mortgages | Financing
The number of non-bank positions in real estate finance expanded despite a month-over-month decline in the number of mortgage broker employees.
In October, total nonfarm payroll employment rose by 161,000 from September, according to data reported Friday by the Bureau of Labor Statistics.
U.S. employment growth slowed compared to the previous month, when an upwardly revised 191,000 positions were added to the nation’s labor force.
From:: Financing
Oil futures extended losses Friday after Reuters, citing an unnamed OPEC official, reported that Saudi Arabia threatened to raise output if Iran refuses to cap its own production. December West Texas Intermediate oil futures on the New York Mercantile Exchange fell 98 cents, or 2.2%, to $43.68 a barrel and were on track for a more than 10% weekly decline.
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From:: Stock Market News
As one of the last several jobs reports for 2016, total nonfarm payroll employment grew by 161,000 in October. While this is increase is slightly below expectations, large upward revisions to prior months more than made up for it. …read more
From:: Real Estate Wire
Zipcar said Friday that it will make over 7,000 vehicles in the U.S. free for its members on Election Night to encourage its members to vote. The car-sharing company, a unit of Avis Budget Group since 2013, said select vehicles will be available for free between 6 p.m. and 10 p.m. local time on Nov. 8 in all of its markets. Reservations can be made starting Friday.
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From:: Stock Market News
U.S. stocks opened lower on Friday as investors remained fixated on the U.S. election, despite a solid October jobs report. The S&P 500 index fell 1 point, or less than 0.1%, to 2,087 a day after it posted its eight straight drop, its longest losing streak since October 2008. The Dow Jones Industrial Average opened 10 points, or 0.1%, lower at 17,917. Meanwhile, the Nasdaq Composite Index shed 16 points, or 0.3%, to 5,043. Polls show that Democratic presidential nominee Hillary Clinton’s lead over Republican rival Donald Trump has narrowed in the final days before Americans head to the polls on Nov. 8.
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From:: Stock Market News
Wal-Mart Stores Inc. said it plans to double the sales of locally-grown produce by 2025, expand its sustainable sourcing of 20 commodities including bananas and coffee, and reduce greenhouse gas emissions as part of the new commitments in its sustainability agenda. Wal-Mart’s Chief Executive Doug McMillon will lay out the plan at the Net Impact Conference taking place on Friday. The retailer’s goal is for an 18% emissions reduction in its own operation by 2025, a plan approved by the Science Based Targets Initiative, which is aligned with the Paris Climate Agreement. It will also work with suppliers to reduce emissions by one gigaton by 2030, the equivalent of taking more than 211 million cars off U.S. roads, the company said. Other goals include reducing packaging waste, achieving zero waste to landfills in key markets by 2025, and working with partners to ensure ethical treatment of workers across the supply chain. Wal-Mart shares are inactive in premarket trading, and up 13.6% for the year so far. The S&P 500 INdex is up 2.2% for 2016 so far.
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From:: Stock Market News
Treasury prices moved marginally lower Friday, pushing up yields, after the Labor Department said the U.S. economy added 161,000 jobs last month. Two-year notes saw the sharpest rise, adding 1.6 basis point to 0.822%, as the data was seen supporting the Federal Reserve’s case for raising interest rates in December. Short-term yields are most sensitive to rate expectations. The 10-year gained half a basis point to 1.816%, while the 30-year ticked up 0.1 basis point to 2.600%. While the headline number was slightly weaker than 1750,000 economists had expected, the details of the report, including upward revisions to the September and August numbers and a stronger-than-expected increase in wage growth, were much stronger. Still, strategists believed the drop in demand would be short lived, as investors remain focused on Tuesday’s election. “But I think people are looking through this number to the election,” said Thomas di Galoma, managing partner of Treasury trading at Seaport Global.
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From:: Stock Market News
Shares of CenturyLink Inc. surged 1.4% in premarket trade Friday, after the communications company announced a deal to sell its data centers and colocation business to a group led by BC Partners for $2.15 billion in cash and a minority stake in the company valued at $150 million. The deal is expected to close in the first quarter of 2017. CenturyLink plans to use the proceeds from the sale to help fund its acquisition of Level 3 Communications Inc. , a $25 billion deal announced earlier this week. CenturyLink’s stock has lost 8.6% year to date through Thursday, while the iShares U.S. Telecommunications ETF has gained 2% and the S&P 500 has tacked on 2.2%.
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From:: Stock Market News
WASHINGTON (MarketWatch) – The U.S. gained 161,000 jobs in October and hiring was stronger in the prior two months than previously reported, reflecting steady gains in employment that are likely to spur the Federal Reserve to raise interest rates soon. Economists polled by MarketWatch had predicted a 175,000 increase in new nonfarm jobs. The unemployment rate dipped to 4.9% from 5%, the government said Friday. Average hourly wages rose 0.4% to $25.92. Hourly pay increased 2.8% from October 2015 to October 2016, the most rapid 12-month gain since mid-2009. Hours worked were flat at 34.4 hours. Total employment gains for September and August, meanwhile, were 44,000 higher than previously reported. The government said 191,000 new jobs were created in September instead of 156,000. August’s gain was raised to 176,000 from 167,000.
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From:: Stock Market News
Taco Bell, the Yum Brands Inc. Mexican fast-food chain, said Friday that it plans to add 100,000 new jobs in the U.S. by 2022 at an additional 9,000 new locations. The company launched a new platform earlier this month to attract and retain talent, and offers help for staffers looking to further their education and training programs for those with career goals within the company. Over the next six years, the company aims to reach $15 billion in global sales, according to Taco Bell Chief Executive Brian Niccol. Yum Brands shares are inactive in premarket trading and up 14.5% for the year. The S&P 500 Index is up 2.2% for 2016 so far.
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From:: Stock Market News