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Death toll rises to 64 after fire sweeps through Russian shopping mall

Authorities have opened a criminal investigation into a fire that killed at least 64 people at a Russian shopping mall on Sunday, media reports said. The blaze at Winter Cherry mall, located in Kemerovo, Siberia, burned for 12 hours, and had been packed with families. The site of a former confectionary factory, the popular mall features a petting zoo, cinema and indoor skating rink. The Associated Press said several people were still missing, and that four persons had been detained for questioning. The cause of the fire has not yet been determined.

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From:: Stock Market News

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U.S. stock futures point to rally over cooling trade tensions

U.S. stock futures indicated a bounce for major indexes at the start of trading on Monday, boosted in part by signs that trade tensions may be easing between the U.S. and China. Dow Jones Industrial Average futures jumped 170 points, or 0.7%, to 23,782, while S&P 500 futures rose 20.45 points, or 0.8%, to 2,618. Nasdaq-100 futures surged 65 points, or 1%, to 6,619.50. Major indexes logged their worst week since January 2016 on Friday, with the Dow plunging 424.69 points. Those losses stemmed from fears of a global trade war, with the U.S. and China trading barbs last week over the Trump administration’s plan to impose tariffs on China. But the two nations have started negotiations behind the scenes to ease U.S. access to China markets, The Wall Street Journal reported Monday, citing sources. Asian markets were mostly lower, though sharper losses from earlier were easing up. The dollar was trading flat, while gold prices were modestly lower, as were those for crude .

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From:: Stock Market News

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Cambridge Analytica used foreign workers to advise U.S. candidates: report

Dozens of Cambridge Analytica employees who were not U.S. citizens were deployed to provide campaign strategy and advice for Republican candidates in the 2014 elections, the Washington Post reported Sunday night. That may have been in violation of U.S. law, which restricts how much involvement foreign citizens may have in election campaigns. Former Cambridge Analytica research director Christopher Wylie, who blew the whistle on unauthorized data mining from Facebook Inc. user profiles, told the Post that the company aimed to provide candidates with individually tailored campaign messages. Two other former Cambridge Analytica employees also told the Post that those foreign workers may have been given potentially inaccurate immigration documents when they entered the U.S. Cambridge Analytica’s parent company is based in London.

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From:: Stock Market News

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Saudis say ballistic missiles shot down over Riyadh, 1 killed: report

Saudi Arabia said one person was killed and two injured by a ballistic missile that was shot down over the nation’s capital, Riyadh, on Sunday, the Associated Press reported. The missile was one of seven reportedly fired by Iran-backed Houthi rebels in Yemen, more than 600 miles away, on the third anniversary of the start of the Saudi-led war against the Houthis. Three missiles targeted Riyadh, the AP said, and the Saudi military said all seven were shot down by Patriot missiles. Over 10,000 people have died in the war, according to the United Nations, about half of them civilians.

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From:: Stock Market News

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March Madness: Final Four includes three powerhouses and one Cinderella

The field for the men’s Final Four is set, and after an NCAA Tournament that has seen a number of stunning upsets, three-fourths of the field is fairly predictable. No. 1-seed Kansas beat Duke in overtime Sunday, 85-81, to become the last team to reach the Final Four. The Jayhawks will play fellow No. 1-seed Villanova, which defeated Texas Tech earlier Sunday, next Saturday in San Antonio. The other side of the bracket will pit No. 3-seed Michigan against the true Cinderella story, 11th-seeded Loyola-Chicago. The winners will advance to the championship game April 2. The games will air on Time Warner Inc.’s TBS.

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From:: Stock Market News

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Saudis say ballistic missile shot down over Riyadh, 1 killed: report

Saudi Arabia said one person was killed and two injured by a ballistic missile that was shot down over the nation’s capital, Riyadh, on Sunday, the Associated Press reported. The missile was reportedly fired by Iran-backed Houthi rebels in Yemen, on the third anniversary of the start of the Saudi-led war against the Houthis. Saudi media said the missile was aimed at the city’s international airport and was shot down by Patriot missiles, the AP said. Over 10,000 people have died in the war, according to the United Nations, about half of them civilians

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From:: Stock Market News

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John Williams may be named New York Fed president: report

John Williams is set to be named president of the New York Fed, the Wall Street Journal reported Sunday. Williams is currently president of the San Francisco Fed. Citing sources familiar with the matter, the Journal reported that the Federal Reserve board of directors has recommended Williams to succeed the retiring William Dudley for the New York post, and a final decision may be announced next month.

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From:: Stock Market News

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Buyers Have High Hopes for Spring

By Susanne Dwyer

DeVita_Suzanne_60x60

Getting Equipped to Win

Buyers are flocking to the market this spring, with high hopes even as they face a frenzy of multiple-offer situations, according to new realtor.com® research.

Currently, inventory is down 8.5 percent year-over-year. In addition to the buyers out in droves for the first time, many have been on the hunt for a while. In fact, 40 percent of buyers have been looking for more than seven months; another 34 percent have been searching for four to six months. Moreover, 35 percent are anticipating “a lot” of competition this season.

“We’re only a few weeks into March and already seeing the market heat up,” says Danielle Hale, chief economist for realtor.com. “Holdover buyers hoping for greener pastures this spring are likely to find sparse options that require them to pay top-dollar or make other concessions.”

To combat competition, buyers are employing strategic tactics, like checking in daily on listing portals and getting notifications about prices, as well as above-asking offers and having a down payment higher than 20 percent.

“The majority of buyers are aware of the tough competition they’re up against this spring,” Hale says. “Having been in the market awhile, they’ve likely lost a few homes to better offers, which has given them more time to save and up their bidding strategies.”

Even against hurdles, buyers are optimistic—an impressive 60 percent believe they will close in the next six months, and 34 percent believe they will close in four to six months.

The data comes from more than 1,000 responses to a survey by Toluna.

For more information, please visit www.realtor.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.

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From:: Real Estate News

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February New-Home Sales Slog

By Susanne Dwyer

New-home sales again slogged in February, with sales of new, single-family homes down 0.6 percent to 618,000, according to the U.S. Census Bureau and the Department of Housing and Urban Development (HUD). The average new-home sales price was $376,700, while the median was $326,800. New-home listing inventory was 305,000—5.9-months supply.

“New-home sales are at a steady level, which is consistent with our measures of solid builder confidence in the housing market,” said Randy Noel, chairman of the National Association of Home Builders (NAHB), in an NAHB Now update. “As housing demand grows, builders need to manage increasing costs for labor, lots and building materials to keep their homes competitively priced.”

“The recent upward revisions to the sales numbers reflect our forecast for a gradual strengthening of the single-family housing sector in 2018,” said Robert Dietz, chief economist for the NAHB. “Demographic tailwinds point to higher demand for single-family homes in the months ahead. Combined with solid job market data, we expect more consumers to enter the housing market this year.”

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

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From:: Real Estate News

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February New-Home Sales Slog

By Susanne Dwyer

New-home sales again slogged in February, with sales of new, single-family homes down 0.6 percent to 618,000, according to the U.S. Census Bureau and the Department of Housing and Urban Development (HUD). The average new-home sales price was $376,700, while the median was $326,800. New-home listing inventory was 305,000—5.9-months supply.

“New-home sales are at a steady level, which is consistent with our measures of solid builder confidence in the housing market,” said Randy Noel, chairman of the National Association of Home Builders (NAHB), in an NAHB Now update. “As housing demand grows, builders need to manage increasing costs for labor, lots and building materials to keep their homes competitively priced.”

“The recent upward revisions to the sales numbers reflect our forecast for a gradual strengthening of the single-family housing sector in 2018,” said Robert Dietz, chief economist for the NAHB. “Demographic tailwinds point to higher demand for single-family homes in the months ahead. Combined with solid job market data, we expect more consumers to enter the housing market this year.”

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

The post February New-Home Sales Slog appeared first on RISMedia.

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From:: Finance and Economy