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U.S. stocks swung violently on Thursday, at one point paring most of their gains, only to rebound in the final hour and end the session with solid gains. The main indexes managed to close higher for the second-straight session. Thursday rally was attributed to optimism over China’s growth following a rebound in the country’s stock market and upbeat data on U.S. gross domestic product. The Dow Jones Industrial Average gained 369.46 points, or 2.3%, to 16,654.97, with all 30 members of the blue-chip index finishing higher. The S&P 500 closed 47.18 points, or 2.4% higher at 1,987.69. The Nasdaq Composite ended the day up 115.17 points, or 2.5% at 4,812.71.

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

Oil futures soared Thursday, with U.S. prices jumping more than 10% on a report that Venezuela has asked the Organization of the Petroleum Exporting Countries to hold an emergency meeting. Venezuela has also asked OPEC to consider a coordination with non-OPEC Russia to discuss a strategy to stem the recent rout in oil prices, The Wall Street Journal reported, citing people familiar with the matter. Oct. crude rose $3.96, or 10.3%, to settle at $42.56 a barrel on the New York Mercantile Exchange. The WSJ report came out in the minutes ahead of the Nymex settlement. Oil prices were already climbing on the heels of a stock-market rally and upbeat U.S. economic 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

Apple Inc. issued invitations on Thursday for a hardware-focused product event on Sept. 9. The company is expected to launch the updated iPhone 6s and iPhone 6s Plus, as well as a bigger-screen 12.9-inch iPad Pro, according to FBR analyst Daniel Ives, who reiterated an outperform rating on the stock on Thursday. The company might also reveal the next-generation Apple TV and could touch on upgrades for some of its mobile features, such as ForceTouch and a 12-megapixel camera. “We view this as a critical event for Apple to help turn the negative investor tide and help lay out its growth vision for the next year on the heels of the iPhone 6 super-cycle product tailwinds,” said Ives. Shares of Apple were up 2% to $111.81 in recent trade. They are down more than 15% over the last three months, underperforming the Dow Jones Industrial Average, down 9%.

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

Shares of Twitter were up 5% in afternoon trade Thursday, taking it back over its IPO price of $26 amid a broad rally in technology stocks. Shares of Amazon were up 3%, shares of Facebook were up 2% and shares of Yahoo were up 3%. Shares of Twitter dipped below the IPO price of $26 in intraday trade this week and last among a greater market selloff. The stock gained 3% this week, compared to the S&P 500’s gain of 1%.

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

Shares of Fitbit Inc. tumbled 7.5% in afternoon trade following two separate reports published Thursday about the fitness band maker that suggest slowing sales. IDC reported that its share of the total wearables market slid to 24.3% in the second quarter from 30.4% from the year-earlier period amid new competition from Apple Inc. and China’s Xiaomi. The industry tracker expects smart wearables that are compatible with third-party apps to outpace regular wearables, such as fitness bands, starting in 2016. Separately, Argus Insights published a broad industry report claiming that demand for consumer wearables has slowed substantially from 2014. The report, compiled using data from 328,000 customer reviews since January 2014, claims that Apple Watch “stole consumer interest from Fitbit and other wearables” after it was announced last September. Fitbit’s stock was down 7.5% to $35.55 in recent trade, while shares of Apple rose 2.7% to $112.67.

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

The Russian ruble surged Thursday, boosted by a recovery in crude-oil prices. The Russian currency was recently up 2.6% to trade at 66.8 to the dollar, its strongest level in eight days. Russia is the world’s second-largest exporter of crude oil, and its economy is largely dependent on the commodity. Crude-oil futures traded on Nymex shot up 8.2% Thursday to $41.77, on track to record its biggest one-day price gain all year. Brent crude, the international benchmark, was up 8% to $46.58. The Canadian dollar and Norwegian krone, two other oil-linked currencies, also recorded significant gains. The loonie gained 0.6% to 75.64 cents, while the krone rose 0.8% to 8.3 krone to the dollar.

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

Photos on Instagram no longer have to be square, the photo-sharing platform said Thursday. For the first time, the app will allow users to share photos and videos in portrait and landscape formats as well as in square sizes. While acknowledging that the square format is part of the company’s identity, Instagram said it was making the changes based on user frustration. “It turns out that nearly one in five photos or videos people post aren’t in the square format, and we know that it hasn’t been easy to share this type of content on Instagram,” the company said in a blog post. Additionally, all filters on the app will work for both photos and videos.

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

By Brian Bandell

The repossessed TownePlace Suites Miami Airport West/Doral was sold for $8.5 million.

The Doral hotel, located at 10505 N.W. 36th Street, was recently sold by the CMBS trust to M10505 Doral Hotel Owner, managed by Camilo Miguel Jr, CEO of Mast Capital. in Miami Beach. Miami Lakes-based BankUnited (NYSE: BKU) provided a $9.8 million loan to the buyer.

The 95-room hotel was seized in 2011 after U.S. Bank, representing a commercial mortgage-backed securities (CMBS) trust, foreclosed on a $17.4 million… …read more

From:: biz journal foreclosures

By Amanda Hoyle

Foreclosure rates for home mortgages in North Carolina and its Triangle region have declined to less than one-third of the number of homes that were in some stage of the foreclosure process at the Triangle mortgage crisis peak in 2012, according to a review of data from property research firm CoreLogic.

North Carolina’s foreclosure rate dropped to 0.76 percent in June, compared to 0.93 percent the year prior, according to CoreLogic’s most recent report. That’s down from a rate of 2.36 percent of… …read more

From:: biz journal foreclosures

By Rachel Jefferson

The number of Millennials represents almost 50 percent of home buyers, yet the number of Millennials in the real estate workforce is tiny by comparison. In this article, Inman shares three tips to learning more about and how to connect with this influential generation. And these tips easily translate to property managers who are looking to bring in more employees who have the Millennial perspective.

on Inman.

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From:: Property Management