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Gold futures at two-week high as the dollar weakens

Gold futures settled higher Thursday, at their highest level in two weeks, with the dollar posting declines versus other major currencies a day after release of minutes from the Federal Reserve’s July meeting. The minutes showed that the officials from the central bank were split on the timing of an interest-rate increase. December gold rose $8.40, or 0.6%, to settle at $1,357.20 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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Experts agree mortgage servicer compensation needs to change

The industry knows there is a gigantic problem surrounding servicer compensation. But as Laurie Goodman, codirector of the Housing Finance Policy Center with the Urban Institute, so eloquently put it at a housing policy event on Wednesday, “It is much more difficult to say the current system does not work than it is actually come up with something better.” Could 2017 be the year this all finally changes? …read more

From:: Real Estate Wire

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GSE Refinances Up 4th Consecutive Month

For the fourth month in a row, government-sponsored enterprise refinances rose, and the Federal National Mortgage Association was behind the latest increase.

During June, there were approximately 177,090 Fannie Mae and Freddie Mac mortgages refinanced, according to an analysis of quarterly data on GSE refinances.

Refinance volume ascended compared to 173,217 in the previous month and has moved higher every month since February, when the total came to 130,076.

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From:: Financing

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Privately-run prison shares plummet 40% after DoJ plans to phase out use

Shares of privately-run prison stocks plummeted Thursday following a report that the Justice Department plans to phase out its use of the facilities. Shares of Corrections Corp. of America dropped 40% to $16.51 and shares of GEO Group Inc. plunged 42% to $18.82 after several trading halts. Deputy Attorney General Sally Yates announced in a memo Thursday that officials should decline to renew private prison contracts or reduce their scope, according to The Washington Post.

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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Sprint launches $100 unlimited talk, text, data plan for two lines

Sprint Corp. has become the latest telecom company to offer a new unlimited talk, text and data plan. On Thursday, the company announced the new package, which includes unlimited talk, text, streaming video, gaming and music as well as nationwide 4G LTE data, for two lines for $100 a month. Additional lines can be added for $30 a month, while a single line can be purchased for $60. A family of four, for example, would cost $160. In a press release, Sprint said the package beats similar unlimited offers announced this week by T-Mobile US and AT&T , though they’re all actually very similar. T-Mobile’s offering, announced earlier Thursday, includes unlimited talk, text and high-speed data for $40 a line for a family of four, or $160 in total. On Wednesday, AT&T announced new mobile plans that exclude overage charges for exceeding data caps. Shares of Sprint rose 0.5% in morning trade, though they’ve risen nearly 70% in the past three months, versus a 7% increase for the S&P 500 .

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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Natural-gas futures extend gains after EIA reports smaller-than-expected rise in U.S. supplies

Natural-gas futures extended their gains on Thursday after the U.S. Energy Information Administration reported that supplies of the commodity rose 22 billion cubic feet for the week ended August 12. That was below the average rise of 28 billion cubic feet expected by analysts polled by S&P Global Platts. Total stocks now stand at 3.339 trillion cubic feet, up 327 billion cubic feet from a year ago and 405 billion cubic feet above the five-year average, the government said. September natural gas climbed 3.3 cents, or 1.3%, from Wednesday’s settlement to $2.652 per million British thermal units. It traded at $2.638 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.

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From:: Stock Market News