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API data show rise in U.S. crude supply, but gasoline stockpiles fall: sources

The American Petroleum Institute reported Wednesday that U.S. crude supplies rose 2.8 million barrels for the week ended Sept. 1, but gasoline stockpiles fell by 2.5 million barrels, according to sources. The API data, which were delayed by a day because of the Labor Day holiday, also showed that inventories of distillates edged down by 603,000 barrels, sources said. Supply data from the Energy Information Administration will be released Thursday morning. Analysts polled by S&P Global Platts expect the EIA to report a climb of 2.7 million barrels in crude inventories, along with declines of 4.2 million barrels for gasoline and 1.9 million barrels for distillate supplies. October crude was at $49.16 a barrel in electronic trading, unchanged from the settlement on the New York Mercantile Exchange.

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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Home Sellers Are Making Bank in Today’s Market

By Susanne Dwyer

Zillow_Sellers

Home sellers are making bank in today’s market, realizing a 24.1 percent, or $39,900, gain in 2016, according to a recent analysis by Zillow.

Sellers on the West Coast—where home prices have rocketed since the recession—saw higher returns, with those in Oakland, Calif., taking home the most at 78 percent, or $235,000.

Duration is key. The average seller turning a $39,900 profit, the analysis shows, held on to their home for seven years and five months. The average seller in Oakland hung on to their home for seven years and three months.

The top 10 markets:

“The housing market can change a lot in 10 years, and you see that reflected in this top 10 list,” says Dr. Svenja Gudell, chief economist at Zillow. “Buying a home is one of the biggest financial decisions people will make in their lifetime, and it really paid off for sellers in these cities. Every city on this list has been growing extremely fast over the past decade, with the majority passing peak home value hit during the housing bubble.”

The ability to amass wealth over the long term makes real estate the No. 1 investment for most Americans, despite proven results from stocks and other vehicles.

“It’s extremely difficult to time the market, but if you’re a longtime homeowner in one of these cities, you could potentially see a great return on your investment,” Gudell says.

For more information, please visit www.zillow.com.

Suzanne De Vita is RISMedia’s online news editor. Email her your real estate news ideas at sdevita@rismedia.com.

For the latest real estate news and trends, bookmark RISMedia.com.

The post Home Sellers Are Making Bank in Today’s Market appeared first on RISMedia.

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From:: Finance and Economy

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Home Sellers Are Making Bank in Today’s Market

By Susanne Dwyer

Zillow_Sellers

Home sellers are making bank in today’s market, realizing a 24.1 percent, or $39,900, gain in 2016, according to a recent analysis by Zillow.

Sellers on the West Coast—where home prices have rocketed since the recession—saw higher returns, with those in Oakland, Calif., taking home the most at 78 percent, or $235,000.

Duration is key. The average seller turning a $39,900 profit, the analysis shows, held on to their home for seven years and five months. The average seller in Oakland hung on to their home for seven years and three months.

The top 10 markets:

“The housing market can change a lot in 10 years, and you see that reflected in this top 10 list,” says Dr. Svenja Gudell, chief economist at Zillow. “Buying a home is one of the biggest financial decisions people will make in their lifetime, and it really paid off for sellers in these cities. Every city on this list has been growing extremely fast over the past decade, with the majority passing peak home value hit during the housing bubble.”

The ability to amass wealth over the long term makes real estate the No. 1 investment for most Americans, despite proven results from stocks and other vehicles.

“It’s extremely difficult to time the market, but if you’re a longtime homeowner in one of these cities, you could potentially see a great return on your investment,” Gudell says.

For more information, please visit www.zillow.com.

Suzanne De Vita is RISMedia’s online news editor. Email her your real estate news ideas at sdevita@rismedia.com.

For the latest real estate news and trends, bookmark RISMedia.com.

The post Home Sellers Are Making Bank in Today’s Market appeared first on RISMedia.

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From:: Real Estate News

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Royal Caribbean raises dividend by 25%

Royal Caribbean Cruises Ltd. late Wednesday said its board of directors has approved a quarterly dividend of 60 cents a share, an increase of 25%. The dividend is payable Oct. 11 to shareholders of record Sept. 22. This move reflects the company’s continuing efforts to increase shareholder returns. Shares were flat late Wednesday after ending the regular trading day down 0.2%.

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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Trump’s $1 million Harvey donation to be split among 12 organizations

President Donald Trump’s $1 million donation for Hurricane Harvey relief efforts will be split among 12 organizations including the Red Cross and Habitat for Humanity, the White House said Wednesday. The Red Cross and Salvation Army will each get the biggest amounts, of $300,000. The groups Reach Out America and Samaritan’s Purse will each receive $100,000, while the remaining groups will be given $25,000 each.

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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Oil ends higher as refiners reopen after Hurricane Harvey devastation

Oil futures ended higher Wednesday, lifted as Gulf Coast refiners continued to resume operations following the shutdowns caused by Hurricane Harvey. West Texas Intermediate crude for October delivery on the New York Mercantile Exchange rose 50 cents, or 1%, to end at $49.16 a barrel.

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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Independence Realty’s stock suffering biggest-ever loss after stock offering, acquisition

Shares of Independence Realty Trust Inc. plunged 9.6% in afternoon trade Wednesday, after the real estate investment trust announced a share offering to help pay for an acquisition. Both the percentage loss, which is enough to pace the New York Stock Exchange’s decliners, and the price loss of $1.00, are on track to be the biggest one-day selloffs since the stock started trading on Aug. 13, 2013. The company said late Tuesday that it was buying a portfolio of nine communities totaling 2,353 units for $228.1 million. To help fund a portion of that purchase, the company announced a public offering of 12.5 million shares, which represents 18% of the total shares outstanding. The company is also offering the underwriters of the offering options to buy an additional 1.875 million shares. The stock, which had closed Tuesday at the highest price since Sept. 26, has gained 5.3% year to date, while the SPDR Real Estate Select Sector ETF has climbed 7.4% and the S&P 500 has gained 10.2%.

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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At Home’s stock sinks after results weren’t good enough to extend record rally

Shares of home decor superstore chain At Home Group Inc. tumbled 9.4% in afternoon trade Wednesday, as better-than-expected fiscal second-quarter results weren’t enough to extend gains further into record territory. At Home reported late Tuesday net income that rose to $9.3 million, or 15 cents a share, from $6.3 million, or 12 cents a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share came in at 18 cents, beating the FactSet consensus of 17 cents. Revenue grew to $232.1 million from $188.4 million, above the FactSet consensus of $227.1 million, as same-store sales growth of 7.8% topped expectations of a 4.8% rise. Gross margin declined to 31.5% from 32.9%. The company raised its fiscal 2018 outlook sales to $916 million to $923 million from $906 million to $913 million, while keeping its adjusted EPS outlook intact at 73 cents to 75 cents. Analyst David Magee at SunTrust Robinson Humphrey said the results’ negatives include gross margin and the fact that the full-year EPS outlook didn’t change despite the second-quarter outperformance. The stock, which closed Tuesday at a record of $25.63, has soared 25.5% over the past three months while the SPDR S&P Retail ETF has lost 0.8% and the S&P 500 has gained 1.6%.

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 retreats after President Trump agrees to raise debt ceiling

Gold closed lower Wednesday following news that President Donald Trump and congressional leaders reached an agreement to raise the debt ceiling and fund the government until Dec. 15. Concerns about the debt ceiling had partly contributed to the precious metal’s recent string of gains. December gold declined $5.50, or 0.4%, to settle at $1,339 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