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Gold futures gain, but finish lower for the week

Gold futures settled with a modest gain on Friday, but finished the week with a loss of about 1.5%–the worst in six weeks. Prices were volatile, with the metal tracking moves in the U.S. dollar as traders assessed comments from Federal Reserve Chairman Janet Yellen and Vice Chair Stanley Fischer, which hinted at the potential for an interest-rate increase as early as next month. December gold rose $1.30, or 0.1%, to settle at $1,325.90 an ounce.

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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Repossessed CVS pharmacy building sold

By Brian Bandell

A repossessed retail building in Plantation anchored by CVS pharmacy was sold for $6.2 million.

In 2014, an affiliate of a commercial mortgage-backed securities (CMBS) trust called JPMCC 2004-CIBC10 Plantation Complex seized six buildings in Plantation Crossroads after foreclosing on Mercede Realty Associates’ $11.16 million mortgage.

The lender, with LNR Partners acting as special servicer, recently sold the 13,637-square-foot retail building at 1802 N. University Drive for $6.2 million to NGI… …read more

From:: biz journal foreclosures

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U.S. oil-rig count unchanged after 8 weeks of increases

Oil futures continued to trade modestly higher on Friday after data from Baker Hughes revealed that the number of active U.S. rigs drilling for oil was unchanged at 406 in the latest week. That followed eight straight weeks of increases. The total active U.S. rig count, which includes oil and natural-gas rigs, fell by 2 to 489, Baker Hughes said. October crude was at $47.39 a barrel on the New York Mercantile Exchange, up 6 cents from Thursday’s settlement.

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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Purchases Overcome Dip in Weekly Mortgage Activity

While new weekly refinance activity slowed for the second week in a row, purchase-money business turned higher. Jumbo business had a healthy week-over-week gain.

A 3 percent decline from the previous week left the U.S. Mortgage Market Index from OpenClose and Mortgage Daily at 169 for the week that ended on Aug. 26.

Still, the index — a representation of average per-user rate locks submitted by clients of Open Close — has ascended 17 percent compared to the same week last year.

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From:: Financing

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Apptio, a business management software company, files to go public

Apptio Inc., a technology business management software company, filed to go public Friday. It currently has a proposed maximum offering price of $75 million and hasn’t yet specified how many shares of class A common stock it will offer. The company reported revenue of $123 million in 2015 on a net loss of $41 million. Apptio has applied to list on the Nasdaq under the symbol “APTI.” The lead underwriters are Goldman, Sachs & Co, J.P. Morgan and Bank of America Merrill Lynch.

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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Gold, oil futures waver on hawkish Yellen remarks

Gold and oil futures seesawed between minor losses and gains Friday after the U.S. Federal Reserve Chairwoman Janet Yellen said in a speech at the Jackson Hole, Wyo. economic symposium that the case for another interest-rate increase has strengthened. Gold for December delivery traded at $1,326.50 an ounce, up $1.90, or 0.1%, from Thursday’s settlement. It was trading around $1,333.20 before Yellen spoke. October oil added 11 cents, or 0.2%, to $47.46 on Nymex. It was trading at $47.39 before the speech.

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