Gold prices climb 2.5% for the week, settle at highest since late September

Gold prices climbed Friday, tallying a 2.5% gain for the week to reach their highest settlement since late September. A weaker-than-expected monthly U.S. employment report fed the debate over whether the Federal Reserve will raise interest rates again this year. The uncertainty helped support gold, as higher rates dull demand for the precious metal. December gold rose $8.20, or 0.6%, to settle at $1,330.40 an ounce.

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From:: Stock Market News

Temporary FHA Condo Project Requirements Extended

Temporary requirements previously issued for condominium projects to be approved by the Federal Housing Administration have been extended.

In November 2015, the Department of Housing and Urban Development issued Mortgagee Letter 2015-27 that provided temporary new guidelines for project approval.

Among the changes were easier recertification requirements, expanded eligibility for acceptable owner-occupied units and expanded eligible condominium project insurance coverages.


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From:: Financing

Baker Hughes pegs U.S. oil-rig count as unchanged, but Hurricane Harvey clouds data

Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil was unchanged at 759 this week. The company, however, said it could not verify the change in rig counts across 47 counties in South Texas because of the impact of Hurricane Harvey. The total active U.S. rig count, which includes oil and natural-gas rigs, rose by 3 to 943, according to Baker Hughes. Oil prices showed little initial reaction, with October West Texas Intermediate crude down 20 cents, or 0.4%, from Thursday at $47.03 a barrel on the New York Mercantile Exchange. It traded at $47.07 before the data. (This is an update to reflect impact of Hurricane Harvey on this week’s data.)

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From:: Stock Market News

Trump: I’ll make DACA decision today or over weekend

President Donald Trump said he’ll make a decision about ending an Obama-era immigration program Friday or sometime over the weekend. Fox News earlier reported Trump is expected to announce the end of the Deferred Action for Childhood Arrivals program. Trump wasn’t clear about his intentions, however, saying “we love the Dreamers,” a name for those currently in the program that gave deportation reprieves.

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From:: Stock Market News

Baker Hughes data show U.S. oil-rig count unchanged after 2 weeks of declines

Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil was unchanged at 759 this week. The total active U.S. rig count, which includes oil and natural-gas rigs, rose by 3 to 943, according to Baker Hughes. Oil prices showed little reaction, with October West Texas Intermediate crude down 20 cents, or 0.4%, from Thursday at $47.03 a barrel on the New York Mercantile Exchange. It traded at $47.07 before the data.

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From:: Stock Market News

Russian hacking of back-end voting systems more extensive than previously disclosed: report

Russian hacking of the vast “back-end” of U.S. election apparatus was more extensive than previously disclosed, according to a report in the New York Times on Friday. Hackers breached three providers of critical elections services well ahead of voting, the report said, which was based on two dozen interviews. Local, state and federal agencies have conducted few of the rigorous investigations required to assess the impact, if any, on voting in at least 21 states whose election systems were targeted by Russian hackers.

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From:: Stock Market News

Mortgage Jobs Fall as US Employment Data Weakens

Monthly job growth within all U.S. industries weakened as unemployment worsened. After rising four straight month, non-bank mortgage employment retreated.

At 146.730 million, the U.S. nonfarm labor force increased by 156,000 jobs in August, the Bureau of Labor Statistics reported on Friday.

Job growth slowed compared to the previous month, when nonfarm payroll employment expanded by a downwardly revised 189,000 positions.


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From:: Financing

Netflix lands new musical series from ‘La La Land’ director Damien Chazelle

Netflix Inc. on Friday announced it has landed a new series from Academy Award-winning director of “La La Land,” Damien Chazelle. The new eight-episode series, “The Eddy,” is a musical drama set in contemporary multi-cultural Paris and centers on a club owner, the house band and the city around it, according to a news release. “I’ve always dreamed of shooting in Paris, so I’m doubly excited to be teaming up with [Jack Thorne], [Glen Ballard] and [Alan Poul] on this story, and thrilled that we have found a home for it at Netflix,” Chazelle said in a statement. “The Eddy” will be shot in France and feature dialogue in French, English and Arabic. Chazelle will serve as an executive producer on “The Eddy,” in addition to directing two episodes. It is written by BAFTA and Olivier award-winning writer Jack Thorne, and six-time Grammy award-winner Glen Ballard (Michael Jackson’s “Bad”) will write the music. Emmy-winning producer Alan Poul, known for “Six Feet Under” and “The Newsroom,” will also serve as executive producer. Damien Chazelle is just the latest big name filmmaker to go to Netflix. The streaming giant made headlines after stealing away Shonda Rhimes last month from Walt Disney Co.’s ABC network and the platform has brought in comic book legend Mark Millar and is working with director Martin Scorsese. Shares of Netflix have gained nearly 42% in the year to date, while the S&P 500 index is up almost 11%.

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From:: Stock Market News