Foreclosures | Mortgages | Financing
The lists of cities and states continues to rack up as the Chicago City Council announced a one-year suspension for Wells Fargo from city business. The city joins Illinois and California in finding alternative methods to punish the mega bank for its massive sales scandal. …read more
From:: Real Estate Wire
Credit conditions in the residential lending business are more lax now than they have been at any time since the financial crisis erupted.
The Mortgage Credit Availability Index, a standardized quantitative index that is focused on mortgage credit, was 167.0 in September.
Historical data indicate that the last time the index was this high was prior to June 2008, when the nation was descending into the financial crisis.
From:: Financing
Black Friday will not be the top shopping day of the 2016 holiday season, according to the latest forecast from analytics company RetailNext, released on Thursday. Instead, that day will be Friday, Dec. 23, followed by Super Saturday, Dec. 17. Black Friday has fallen to the third spot. Black Friday won’t even be the busiest shopping day of the season. Super Saturday will see the most shopper visits this year, said RetailNext, followed by Black Friday. “As retailers have continued the trend to open more stores on Thanksgiving Day, it has pilfered away both sales and traffic from Black Friday,” said Shelley E. Kohan, vice president of retail consulting, in a statement. “This year, with Christmas falling on a Sunday, most shoppers will want to cut short their shopping early on Saturday, December 24, leaving the day before, Friday, as retail’s biggest opportunity for sales.” RetailNext predicts a 3.2% year-over-year increase in sales, with a 14.9% year-over-year rise in digital sales.
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
Hurricane Matthew has already strengthened to a category 4 storm, according to the National Hurricane Center, with maximum sustained winds of 140 miles an hour. “Some additional strengthening is possible, and Matthew should remain a Category 4 hurricane while it approaches the Florida coast,” the NHC said in its latest advisory. The eye of the storm is moving northwest between two islands in the Bahamas and is expected to move close to or over the east coast of the Florida Peninsula through Friday night. A hurricane watch is in effect for the Bahamas and neighboring islands, as well as for the Florida coast tracking up to South Santee River South Carolina.
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
Shares of Obalon Therapeutics , a medical device company, were trading at $15.20 Thursday, above the company’s $15 issue price in its market debut. The company sold 5 million shares to raise $750 million. UBS Investment Bank, Canaccord Genuity and Stifel were the lead underwriters on the offering.
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
Shares of Coupa Software were trading at $37 Thursday, far above the company’s $18 issue price, in Coupa’s market debut. Coupa sold 7.4 million shares to raise $133.2 million. With the shares trading up, Coupa rose above fears of a down round, bringing in a market capitalization of $1.78 billion. The company had a private market valuation of at least $1 billion. Morgan Stanley, J.P. Morgan, Barclays and RBC Capital Markets acted as the lead underwriters.
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
Natural-gas futures fell Thursday after the U.S. Energy Information Administration reported that supplies of the commodity rose 80 billion cubic feet for the week ended Sept. 30. That was above the average rise of 69 billion cubic feet expected by analysts polled by S&P Global Platts. Total stocks now stand at 3.68 trillion cubic feet, up 74 billion cubic feet from a year ago and 205 billion cubic feet above the five-year average, the government said. November natural gas was down 3.8 cents, or 1.3%, from Wednesday’s settlement to $3.004 per million British thermal units. It traded at $3.022 before the 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.
From:: Stock Market News
Shares of AquaVenture Holdings Limited , a water management company, were trading at $21.80, above the company’s $18 issue price, in the company’s debut on the New York Stock Exchange Thursday. The company sold 6.5 million shares to raise $117 million. The lead underwriters were Citigroup, Deutsche Bank Securities and RBC Capital Markets.
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
Shares of Tesla Motors Inc. slumped 3.5% in morning trade Thursday, after the electric car maker was downgraded at Goldman Sachs, which cited potential risks to Model 3 delivery timelines and free cash flow concerns. Analyst David Tamberrino cut this rating to neutral from buy, and slashed his stock price target to $185, which is 8% below current levels, from $240. The changes were part of a downgrade of the broader auto sector to cautious from neutral, citing the belief that the U.S. auto cycle peaked in 2015. For Tesla, Tamberrino said he is concerned about risks to the business related to management’s decision to deploy capital for acquisitions, such the attempt to buy SolarCity Corp. . And any delay in launching its lowered priced Model 3 could also be “detrimental” to the stock price. “We believe the proposed combination of Tesla and SolarCity–two high growth, high cash burn businesses, creates a higher risk entity given the combined on-going capital needs and higher net leverage that would potentially result,” Tamberrino wrote in a note to clients. The stock has tumbled 16% year to date, while the S&P 500 has gained 5.4%.
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
After shooting down to a 10-week low last week, mortgage rates leveled off and remained unchanged this week. Tomorrow’s employment report could determine if Treasury yields will continue to increase. …read more
From:: Real Estate Wire