Over a quarter or 25.1 percent of house hunters in the United States were seeking to relocate to a new metropolitan area in February, according to real estate company Redfin. The interest to relocate registered at 22.9 percent in 2022, and approximately 18 percent prior to the pandemic. The latest number is a record high,…
Record Share of Americans Relocating to New Metro Areas
March 29, 2023
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30-year mortgageBusiness & Marketseconomyhome buyersMarketsreal estaterelocationU.S. housing marketUSUS NewsUS Real Estate
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Record Share of Americans Relocating to New Metro—Here’s Where They’re Going
Over a quarter or 25.1 percent of house hunters in the United States were seeking to relocate to a new metropolitan area in February, according to real estate company Redfin. The interest to relocate registered at 22.9 percent in 2022, and approximately 18 percent prior to the pandemic. The latest number is a record high,…
Wall Street Opens Higher as Banking Crisis Fears Ebb
Wall Street’s main indexes opened higher on Wednesday as easing worries about a banking crisis lifted risk sentiment, while investor expectations rose about a pause in the Federal Reserve’s interest rate hikes. The Dow Jones Industrial Average rose 172.29 points, or 0.53 percent, at the open to 32,566.54. The S&P 500 opened higher by 28.26…
Sergio Ermotti Returns as UBS CEO to Steer Credit Suisse Takeover
March 29, 2023
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Business & MarketsCEOCompaniesCredit Suisseeconomic policieseconomyEuropeMarketsSergio ErmottistocksUBSWorld
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ZURICH—UBS Group AG has rehired Sergio Ermotti as CEO to steer its massive takeover of neighbor Credit Suisse—a surprise move to take advantage of the Swiss banker’s experience rebuilding the bank after the global financial crisis. The trader turned corporate problem fixer faces the tough challenge of laying off thousands of staff, cutting back Credit…
US Mortgage Refinancings Hit 6-month High on Rates Drop, MBA Says
U.S. residential mortgage refinancing activity climbed to a six-month high last week, a trade group said on Wednesday, fueled by a third straight weekly drop in borrowing costs on the heels of a pair of major bank collapses that have clouded the outlook for interest rates. The Mortgage Bankers Association’s weekly index of overall home…
Shares Rise as Bank Support Emboldens Investors
March 29, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON—Global shares rose on Wednesday, as investors took heart from a greater degree of stability in the banking sector, but the sense of optimism wasn’t robust enough to severely knock safe-haven assets like bonds or gold. Meanwhile, shares in Asia rallied on Wednesday after Chinese conglomerate Alibaba’s plans to split into six units lifted tech…
Dollar Steadies in Uneasy Market Calm
TOKYO/LONDON—The dollar edged up against most major peers on Wednesday, steadying after recent declines, and gaining sharply against the yen which was volatile as the end of the Japanese fiscal year approaches. The dollar index, which tracks the currency against six peers, gained 0.15 percent to 102.64. It has fallen for the past two sessions,…
Oil Gains for 3rd Day on Kurdish Supply Concern, Easing Banking Fears
March 29, 2023
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil rose for a third session on Wednesday as a halt to some exports from Iraqi Kurdistan raised concerns of tightening supply and as easing fears of a global banking crisis supported risk sentiment in the wider markets. Crude exports of 450,000 barrels per day (bpd) from Iraq’s semi-autonomous northern Kurdistan region were halted on…
Closing Prices for Crude Oil, Gold and Other Commodities (Mar. 28)
March 28, 2023
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Benchmark U.S. crude oilBrightBusiness & MarketsgoldGold and CommoditiesinvestingMarketspersonal finance
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Benchmark U.S. crude oil for May delivery rose 39 cents to $73.20 a barrel Tuesday. Brent crude for May delivery rose 53 cents to $78.65 a barrel. Wholesale gasoline for April delivery rose 3 cents to $2.71 a gallon. April heating oil was unchanged at $2.77 a gallon. April natural gas fell 6 cents to…
Stocks Mostly Hold Steady as Wall Street Regains Stability
NEW YORK—Stocks were mixed Tuesday as Wall Street regains some stability at the tail end of what’s been a turmoil-filled month. The S&P 500 dipped 6.26 points, or 0.2 percent, to 3,971.27, though the majority of stocks within the index rose. The Dow Jones Industrial Average slipped 37.83, or 0.1, percent, to 3,394.25, and the…
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