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Gold futures log lowest finish since June

Gold futures suffered a sharp loss Tuesday, as a climb in U.S. consumer confidence in August helped to raise the prospects of a Federal Reserve interest-rate increase which, in turn, fed strength in the U.S. dollar. Gold for December delivery lost $10.60, or 0.8%, to settle at $1,316.50 an ounce. That was the lowest settlement for the contract since June 23, 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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Mortgage Production Profits Up on Employee Expense

As quarterly loan originations increased, independent mortgage bankers cut their per-loan employee expenses and doubled the bottom line.

Total net production income at independent U.S. residential lenders averaged 73 basis points during the three months that ended on June 30.

Earnings more than doubled from the first quarter, when net income was 36 BPS, and was also up from 67 BPS in the second-quarter 2015.

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From:: Financing

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Uber hires Target CMO as president of ridesharing

Uber has hired Jeff Jones, chief marketing officer at Target , as president of ridesharing, the company said Tuesday. His appointment will unseat Ryan Graves, the co-founder of Uber, as head of global operations, and he will move to head UberEats, UberRush and other initiatives. “Ryan is the progenitor of everything Uber Operations-setting the gold standard for what it means to run a truly great operations team in the on-demand world. But as we grow, marketing is becoming more and more of a thing, and it was clear we needed a real infusion of talent on that front,” Chief Executive Travis Kalanick wrote. Jones previously worked at Leo Burnett, as well as Coca-Cola and Gap

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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Independent mortgage bank profits surge, more than double 1Q

Not only did the industry recover from the financial storm caused by TRID, but looking at the latest Mortgage banker profit results for the second quarter of 2016, it’s almost like it never existed. This is good news for independent mortgage banks and mortgage subsidiaries of chartered banks as profits surge to new highs. Are you seeing the same trends and growth in your business? …read more

From:: Real Estate Wire

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New Apps to ‘Virtualize’ Apartments of the Future

By Rachel Jefferson

Apartment living is changing as new technologies and applications hit the market. Multifamily Executive runs through quite a few new apps built to “virtualize” apartments. What does this technology advancement mean for property managers? Well, for one, more people might rent your vacancy without having stepped foot in the unit, or even in the state. Virtual tours will grow in popularity, as well as apps that tell you more about the neighborhood and things like noise level.

on Multifamily Executive.

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From:: Property Management

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Tablet sales will take largest-ever hit in 2016

Worldwide shipments of tablets are expected to plunge by 11.5% year-over-year in 2016 – the worst decline in the product category’s six-year history, according to tech-industry tracker IDC. The industry is expected to ship 183.4 million units this year, with tablets running on Alphabet Inc.’s Android and Apple Inc.’s iOS accounting for nearly 90% of all shipments. Positive growth is expected to return in 2018 as Microsoft Corp. Windows tablets gain share, according to IDC. Meanwhile, larger-screen tablets with detachable keyboards, such as the 12.9-inch iPad Pro, are expected to continue gaining share over traditional slate tablets. Shares of Apple fell 0.8% to $105.97 in morning trade, though they remain up 5.5% in the past three months. Google’s fell 0.5% to $791.60, though they’re still up roughly 6% in three months. Microsoft’s declined by 0.5% to $57.78 on Tuesday, but have risen 10.5% in three months. The S&P 500 fell 0.3% Tuesday and is up 3.5% in the past three months.

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