Amazon workers in Minnesota and Germany are striking as Prime Day kicks off, in a stand against working conditions and wage practices. The action in Minnesota represents the...Retailread more
Treasury Secretary Steven Mnuchin is raising red flags ahead of Facebook's proposed cryptocurrency launch.Marketsread more
Epstein is accused of sexually exploiting dozens of underage girls from 2002 through 2005 at his New York and Florida residences. He is a former friend of Presidents Donald...Politicsread more
When you think of Prime Day, you might be thinking about deals on Instant Pots and Amazon Echo devices — not half-off dresses and designer heels. But the market for apparel...Retailread more
David Marcus, the head of Facebook's digital currency project, said the company expects Libra will drive more advertising revenue for the company.Technologyread more
Some White House officials expect the Cabinet secretary, who has known the president for years, to depart as soon as this summer.Politicsread more
Boeing met with aircraft leasing firms and financiers in New York as the grounding of its popular 737 Max planes drags on with no clear timeline for getting the planes back in...Aerospace & Defenseread more
Both companies report earnings on Aug. 8, so the CBS and Viacom boards have set that as a natural deadline to agree to a merger. Price won't be discussed by the companies...Technologyread more
The Food and Drug Administration "stands ready" to start reviewing e-cigarettes amid a teen vaping "epidemic," acting Commissioner Ned Sharpless said Monday in a statement.Health and Scienceread more
US oil companies on Monday began restoring some of the more than nearly 74% production shut at U.S. Gulf of Mexico platforms ahead of Hurricane Barry, the US offshore drilling...Energyread more
The Guggenheim CIO says he had been approached by the White House about possibly joining the Federal Reserve.The Fedread more
Home prices in April were 3.5% higher than a year earlier, according to the S&P CoreLogic Case-Shiller U.S. National Home Price Index. The rise was lower than the 3.7% gain seen in March.
The 10-city composite, however, began to gain again, rising 2.3% annually, up from 2.2% in the previous month. The 20-city composite rose 2.5% year over year, down from 2.6% in March.
The report looks back two months and is a three-month running average of prices. Other more recent reports have shown that gains in home prices are rising again, thanks to lower mortgage rates and more demand. Prices tracked by Zillow have fallen month to month for two straight months on a seasonally adjusted basis. These are the first monthly drops in seven years. Prices also began to gain steam annually in April, according to a different survey by CoreLogic.
Going locally on the Case-Shiller report, Las Vegas, Phoenix and Tampa, Florida, saw the highest annual gains among the 20 cities in April. Las Vegas prices rose 7.1%, followed by Phoenix with a 6% increase and Tampa with a 5.6% increase. Nine of the 20 cities reported larger annual price increases compared with March.
"Home price gains continued in a trend of broad-based moderation," said Philip Murphy, managing director and global head of index governance at S&P Dow Jones Indices. "Year-over-year price gains remain positive in most cities, though at diminishing rates of change. Seattle is a notable exception, where the YOY change has decreased from 13.1% in April 2018 to 0.0% in April 2019."
Mortgage rates have been falling steadily this year, giving homebuyers more purchasing power. Lower rates often coincide with higher prices because buyers can bid higher and competition increases. While the potential heat in prices has not shown up yet in this report, existing home sales did rise more than expected in May, according to the National Association of Realtors, suggesting renewed demand. The median price of a home sold in May also rose to the highest level ever. Part of that may be a change in the mix of homes selling, as there are many more higher-priced homes for sale, but a very, very tight supply of low-end homes for sale.