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Home-sharing company Airbnb said Friday it has appointed Laurence Tosi, former chief financial officer of investment firm the Blackstone Group, as its CFO. “[Laurence Tosi’s] expertise in hospitality and finance is the perfect combination to help take Airbnb to the next level,” said Airbnb CEO Brian Chesky. Before the Blackstone Group, Tosi worked at Merrill Lynch and NBC.

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

WASHINGTON (MarketWatch) – In a rare glimpse inside the Federal Reserve, the staff of the central bank told officials six weeks ago that they expect the key federal funds rate to reach 0.35% at the end of the year, signaling that officials will only raise rates once in 2015, according to documents released Friday. The disclosure came in staff forecasts inadvertently released on the central bank’s website late last month. Usually, Fed staff projections for interest rates are kept confidential for five years. Once the leak was discovered, the Fed said it decided to publicly release the material. According to the projections, Fed staff saw the funds rate rising to 0.35% by the end of 2015, compared with the current range of zero to 0.25%. Staff also expected to see rates rise gradually to 1.26% by the end of 2016 and 2.12% by the end of 2017 before hitting 3.34% by end of 2020. The Fed staff projected no sharp move in 10-year Treasury bond rates as the Fed tightened policy. Instead, bond rates would reach 2.63% in the fourth quarter of this year, 3.14% by the end of 2016 and 4.20% by the end of 2020, according to the projections.

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 dollar slipped vs. the Japanese yen Friday after official data showed June was the weakest month for new-home sales in seven. After the report, the dollar traded at 123.80 yen, down from 124 ahead of data. The dollar initially tumbled against the euro and pound after the report, but quickly trimmed its losses. The euro recently traded at $1.0968, little-changed from its level ahead of the data. The pound traded at $1.5503, also little-changed. The weak data cast doubt on the strength of the U.S. housing market, seemingly contradicting a report from earlier in the week which showed a strong pace of sales for existing U.S.

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

Homebuilder stocks turned broadly lower in morning trade Friday, after data showing sales of new homes fell to the slowest pace in seven months. The iShares U.S. Home Construction ETF dropped 1%, with nine of its 41 stock components trading lower. Just prior to the release of the data, the ETF was trading little changed. Among the most heavily-weighted components, shares of Lennar Corp. shed 1.2%, D.R. Horton Inc. dropped 0.5%, PulteGroup Inc. slid 1.7% and Toll Brothers Inc. lost 1%. All four of those stocks saw intraday gains prior to 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

By Beth Rucker

Did you follow along HGTV’s Ultimate House Hunt Contest? While the winners have already been selected, I still cannot get enough of the stunning homes featured in the contest. There are some serious drool-worthy designs in this year’s homes. What I really loved were the luxury bathrooms, and they all seemed to have one major thing in common: a freestanding soaker tub.

I’m not sure you can expect much more out of life besides a soaking tub with a view of the ocean in Hawaii! This Haena, Hawaii, home won the Glass House division of HGTV’s Ultimate House Hunt, and I’m sure the bathroom views played a little role in that.

If this freestanding tub isn’t enough for you, there are TWO showers. Looks like a new pharmaceutical commercial. (Wink, wink!)

I love how the contemporary lines of this bathroom are carried throughout the space, from the window, to the wall niche and the soaker tub. The visual interest comes from the views of the desert outside and is pulled inside with accenting cactus.

I love the drama in this bathroom. The tub pops against the dark background of the floor and wall tile, which create an intimate yet contemporary surrounding.

Another big thing in luxury bathrooms right now are wet rooms that feature both an open shower (or two) and a freestanding tub. This wet room includes a view of the private pool at this Palm Springs estate.

Soaker tubs work in traditional design too. The oval shape of this slipper tub is mimicked in the detail of the tray ceiling and vanity fronts.

Which one is your favorite?

Looking for more home inspiration? Click on any photo to see more freestanding tubs or visit the HGTV Photo Library to search for your new favorite space.

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From:: HGTV

WASHINGTON (MarketWatch) — Sales of new single-family homes in the U.S. fell 6.8% in June to an annual rate of 482,000, the slowest pace in seven months, with drops in three of four regions, the government reported Friday. Economists polled by MarketWatch had expected a sales rate of 550,000 in June, compared with an original estimate of 546,000 for May. On Friday the U.S. Commerce Department revised May’s rate to 517,000. Economists caution over reading too much into a single monthly report. A confidence interval of plus-or-minus 12.5% for June’s drop of 6.8% shows that the government isn’t sure whether the sales pace rose or fell last month. June’s sales pace was up 18.1% from a year earlier, showing improvement, though rates still remain below long-term averages. The median price of new homes, meanwhile, fell 1.8% to $281,800 compared with June 2014. The supply of new homes was 5.4 months at June’s sales pace, compared with 4.8 months in May.

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

WASHINGTON (MarketWatch) — The flash reading of the Markit manufacturing purchasing managers index rose slightly to 53.8 in July from a 20-month low of 53.6 in June. The rebound was led by stronger output and order book growth. Chris Williamson, chief economist at Markit, said forward looking indicators point to the manufacturing sector remaining “in a relatively slow-growth phase.” The flash estimate is typically based on approximately 85%-90% of total PMI survey responses each month, and any reading above 50 indicates improving conditions.

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

World Wrestling Entertainment Inc. said Friday that it has ended its contract with Hulk Hogan. “WWE terminated its contract with Terry Bollea (aka Hulk Hogan),” the company said in an emailed statement. “WWE is committed to embracing and celebrating individuals from all backgrounds as demonstrated by the diversity of our employees, performers and fans worldwide.” The statement followed reports that WWE had removed the pro wrestler from its websites and online stores in the wake of an audio clip with controversial racial comments. Shares in WWE were up 1.5% at last check.

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

U.S. stocks opened slightly higher but quickly turned lower Friday, while the main benchmarks were on track to book weekly losses after three straight days of declines. The S&P 500 was down 3 points, or 0.2%, at 2,099. The Nasdaq Composite was flat at 5,149. The Dow Jones Industrial Average slid 20 points, or 0.1%, to 17,712.

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

AbbVie Inc.’s stock shed 2.2% in premarket trade Friday, after the drugmaker missed second-quarter sales expectations, offsetting a profit beat. The company reported a net profit of $1.37 billion, or 83 cents a share, up from $1.1 billion, or 68 cents a share, in the year-earlier period. Excluding non-recurring items, adjusted earnings per share of $1.08 beat the FactSet consensus of $1.06. Revenue rose 19% to $5.48 billion, but missed the FactSet consensus of $5.6 billion, as sales of its top-selling arthritis treatment Humira increased 7.6% to $3.54 billion, but fell short of expectations of $3.66 billion. The company affirmed its full-year 2015 adjusted EPS outlook of $4.10 to $4.30, which compares with the FactSet consensus of $4.28. The stock has gained 6.7% over the past three months through Thursday, while the S&P 500 has slipped 0.7%.

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