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Philly Fed factory gauge jumps to highest level in two years in April
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Fed holds interest rates steady at highest level since 2001
The U.S. economy has faced a months-long stretch of stubborn inflation.ABC News - Top stories - Federal Reserve -
Adjustable-rate mortgage demand surges to highest level this year as 30-year rate keeps climbing
Mortgage applications fell 2.3% in the last week, the Mortgage Bankers Association said. The average rate for a 30-year mortgage is 7.29%.MarketWatch - Business -
Demand for riskier adjustable-rate mortgages hits highest level of the year, due to rising rates
The share of ARM applications rose to 7.8% of mortgage demand last week, according to the Mortgage Bankers Association. That is the highest level of the year.CNBC - Business -
NYCB shares jump 30% after CEO gives two-year plan for 'clear path to profitability'
CEO Joseph Otting took over NYCB in April after an investor group led by former Treasury Secretary Steven Mnuchin injected more than $1 billion into the lender.CNBC - Business -
S.Korea factory activity shrinks in April, but optimism about outlook ticks up
Yahoo News - World -
US includes Chinese groups in sanctions over aid to Russian military
Latest measures come as Washington steps up support for UkraineFinancial Times - Business - Russia -
Fed chair Powell signals rates will remain higher for longer
US central bank says there has been a ‘lack of further progress’ towards 2% inflation goalFinancial Times - Business - Federal Reserve -
Angels score two on wild pitch and throwing error, beat Phillies 6-5 and snap 4-game skid
Ehire Adrianza and Mike Trout scored on a wild pitch and throwing error in the seventh inning as the Los Angeles Angels rallied from an early three-run deficit to beat the Philadelphia Phillies 6-5 and snap a four-game losing streakABC News - Sports - MLB -
Treasury yields finish April with biggest monthly jumps since 2022-2023
Treasurys sold off on Tuesday, solidifying the 10-year yield’s biggest monthly increase in more than a year, after U.S. economic data threw more doubt on the Federal Reserve’s ability to cut interest rates this year.MarketWatch - Business -
Job openings in the U.S. fall to the lowest level in three years
The number of job openings in the U.S. fell to 8.5 million in March and touched the lowest level in more than three years, suggesting the demand for labor is slowly waning.MarketWatch - Business
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Wrangler parent Kontoor’s stock jumps toward a 3-year high after earnings beat
Revenue fell for both Wrangler and Lee jeans brands, mostly because of retailers reducing inventory.MarketWatch - Business -
Winning growth-stock fund manager is now looking for second- and third-tier AI success stories. Here’s what he’s finding.
The MainStay Winslow Large Cap Growth fund owes a lot of its returns to Big Tech. Co-portfolio manager Justin Kelly is hot on the hunt for new winners. Here are some ideas.MarketWatch - Business -
Powell says he doesn’t see the ‘stag’ or the ‘flation.’ UBS has a playbook if he’s wrong.
A team of UBS derivatives strategists led by Maxwell Grinacoff put together a playbook for a stagflation scenarioMarketWatch - Business -
A new ETF touts 100% downside protection. Here is how it works.
An ETF that launched on Monday promises investors 100% downside protection if they hold on to the fund, which is intended to track the S&P 500, for a full year.MarketWatch - Business -
ConocoPhillips’s production narrowly beats analyst estimate, but profit falls slightly short
Shares ticked up premarket as the company says it plans to return $9 billion to shareholders through dividends and stock buybacks in 2024.MarketWatch - Business