U.S. home prices for the first quarter of 2022 continued to skyrocket with a record 20.9 percent year-over-year increase in March 2022, according to CoreLogic’s latest Home Price Index and Forecast, which was released on May 3. This was the highest 12-month growth for the U.S. home index since the series began in 1976, while mortgage rates…
PostCOVID America: Racked by Inflation, Americans Pay Too Much for Drugs
Commentary As inflation rates soar toward 8 percent in the United States, many are feeling the squeeze and will be looking to save money, but one place where price inflation is nothing new in America is drugs. Pharmaceuticals made in the United States climbed in price by six times as much as everything else in a…
SEC Increases Size of Crypto Division to Protect Investors Against Fraud
May 3, 2022
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Business & Economycrypto fraudcryptoassetscryptocurrencyMarketsSEC - U.S. Securities and Exchange CommissionUSUS News
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The U.S. Securities and Exchange Commission (SEC) announced that it has allocated 20 additional positions to the Crypto Assets and Cyber Unit to protect investors in the cryptocurrency markets against fraud and related abuse. As more investors access crypto markets, it becomes “increasingly important” to dedicate more resources to protect them, SEC chair Gary Gensler…
Hot Housing Market Sees Double-Digit Price Growth in 70 Percent of Metro Areas
Home prices rose by double digits in a record number of markets in the first quarter of 2022 even as mortgage rates rose and home sales declined, according to the National Association of Realtors (NAR). In the first quarter of 2022, 70 percent of 185 measured metros saw double-digit annual price gains, which is up…
Musk Says He Wants to Make Twitter as ‘Broadly Inclusive as Possible’
Tesla CEO Elon Musk said he wants to expand Twitter from a “niche” platform to one used by most Americans. “The goal I have … with Twitter is to have a service that is as broadly inclusive as possible, where ideally most of America is on it and talking,” he told reporters on the red…
Global Bond Market Decimated, Future Performance ‘Policy Dependent’
May 3, 2022
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bondsBusiness & Economyeconomic policieseconomyFederal ReserveinflationInvestmentMarketsstocksus treasury
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Since hitting their peaks last year, stocks and bonds have been hemorrhaging amid soaring inflation, rising interest rates, and war in Eastern Europe. The leading U.S. benchmark indexes are deep in the red year-to-date. The Dow Jones Industrial Average has slumped about 9 percent, the Nasdaq Composite Index has plunged 20 percent, and the S&P…
Opioid Distributors Reach $518 Million Settlement With Washington State
Washington has reached a $518 million settlement with drug distributors McKesson Corp., AmerisourceBergen Corp., and Cardinal Health, ending a months-long trial over the companies’ alleged role in fueling the opioid epidemic in the state, the three companies announced on Tuesday. McKesson will pay $197 million, while AmerisourceBergen and Cardinal will each pay $160.5 million. Washington…
Thomson Reuters Beats Q1 Aided by ‘Big 3’ Segments; Lifts FY22 Guidance
Thomson Reuters Corp. reported first-quarter FY22 revenue growth of 6 percent year-on-year to $1.67 billion, beating the consensus of $1.66 billion. Organic revenues increased 7 percent, driven by recurring revenues and transaction revenues. The “Big 3” segments (Legal Professionals, Corporates, and Tax & Accounting Professionals) collectively comprised 81 percent of total revenues and reported organic revenue growth…
Pfizer Surpasses Q1 Earnings Predictions
Pharmaceutical company Pfizer released its quarterly earnings report on Tuesday, delivering better-than-expected results with strong sales of its antiviral drug Paxlovid and the company’s vaccine for the CCP (Chinese Communist Party) virus. In the recent financial quarter, Pfizer reported net income of $7.864 billion, almost $3 billion higher than net income for the previous quarter ($4.877…
The Failure of Central Banking: Market Bailouts
Commentary On Oct. 19, 1987, the U.S. stock markets collapsed. They had enjoyed a stellar run supported by the bull market, which started in August 1982. The ‘Roaring Eighties,’ that is, the economic boom of the 1980s, drove equity markets to new records. But in October, indications of a slowing economy, rising interest rates, and stock…
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