A masked pedestrian carrying water bottles walks past the Charging Bull statue in lower Manhattan on April 02, 2020 in New York City. Bruce Bennett | Getty Images The stock market is struggling to make headway, as a big week of events rolls around, including a Federal Reserve meeting, the first look at post-shutdown economic
Month: April 2020
HECMs plus Annuities have synergistic benefits for retirees © Can Stock Photo / gpointstudio HUD created this ingenious and multi-faceted reverse mortgage program, but its well-intentioned effort to protect it against misuse has been a disaster. The disaster has stemmed from HUD’s requirement that the HECM be a stand-alone product, as opposed to being part
A logo sign outside of the headquarters of loanDepot in Lake Forest, California Kristoffer Tripplaar | Sipa USA | AP Images One of the nation’s largest nonbank mortgage lenders is about to get even larger. California-based loanDepot announced it will hire 3,000 new employees by the end of this year, starting with 400 now. On
Despite outrage on Main Street and new pressure from the Treasury Department this week, several publicly traded companies that received payroll relief funds from the Small Business Administration oppose demands to return the cash. The companies said the Paycheck Protection Program loans have allowed them to keep employees on payroll and that they disagree with
The crypto space has not been in the best of health over the past few weeks as the coronavirus pandemic and the associated turmoil in the markets took its toll. However, that does not mean that important developments have not been taking place in the crypto sphere amidst the turmoil. Key Things to Watch One
The next COVID-19 federal relief package should direct aid to municipalities to help replace lost revenue and smaller cities should receive a share, Chicago Mayor Lori Lightfoot said Thursday. While a series of packages have provided help on the expense side of dealing with the pandemic including the Coronavirus Aid, Relief and Economic Security Act
Pedestrians pass in front of an E-Trade location in New York. Scott Mlyn | CNBC Check out the companies making headlines after the bell. Alphabet — The tech giant’s stock was down 2% in extended trading after CNBC reported that Google is reducing its marketing budgets by as much as half for the second half of
Housing experts say a national rent relief effort is required to help deal with the aftershocks of … [+] the COVID-19 crisis. Getty As the economic consequences of the coronavirus pandemic extend into the future, Americans and policymakers are trying to figure out what type of assistance is needed for both homeowners and renters. Since
Sales of both newly built and existing homes tanked in March, as potential buyers hunkered down and potential sellers pulled their homes from the market, both watching their economy in free fall from the coronavirus. Now, suddenly, buyer demand at least may be climbing back. Pending home sales — a measure of signed contracts, not closings —
As smaller investors pile into the risky and troubled United States Oil Fund, hedge funds are taking the other side of that trade and making a lot of money. As the fund, which trades under the ticker USO, plunged 75% in the last two months, those who bet against it by short selling pocketed hundreds
Wisconsin drew 15 bids and new investor interest on its first green-designated bonds as it stepped into a growing primary market Wednesday with $80 million of its triple-A state revolving fund bonds. Barclays submitted the winning bid on the competitive sale with a true interest cost of 2.64%. The cover bid came from Morgan Stanley
Eddie Rodriguez (R) and other City of Hialeah employees hand out unemployment applications to people in their vehicles in front of the John F. Kennedy Library on April 08, 2020 in Hialeah, Florida. Joe Raedle | Getty Images Another 4.3 million workers are expected to have filed state unemployment claims last week, bringing the total
Compass California President, Mark McLaughlin Moanalani Jeffrey Industry experts discuss today’s California real estate market. Compass California President Mark McLaughlin and CoreLogic’s Deputy Chief Economist Selma Hepp answer key questions on the market. In 2018, McLaughlin led the merger of San-Francisco-based Pacific Union International with Compass establishing Compass California, a leader in market share
Signage stands outside the Freddie Mac headquarters in McLean, Virginia, U.S., on Tuesday, Oct. 1, 2019. Andrew Harrer | Bloomberg | Getty Images The Federal Housing Finance Agency, regulator of Fannie Mae and Freddie Mac, announced that the two mortgage giants will now buy home loans that go into the government’s forbearance program just after
Hundreds of millions of dollars of in Paycheck Protection Plan emergency funding has been claimed by large, publicly traded companies, new research published by Morgan Stanley shows. In fact, the U.S. government has allocated at least $243.4 million of the total $349 billion to publicly traded companies, the firm said. The PPP was designed to
Over the years, it became accepted wisdom that Bitcoin was a store of value, and that it could work as a hedge against market fluctuations. However, this has not turned out to be the case during the course of the current prolonged market turmoil. After the oil price crash on Monday, the world’s biggest cryptocurrency
You might call it the “ETF-ication of everything.” Mutual fund managers are launching special products that allow them to use the exchange-traded fund structure but keep their portfolios hidden. Others are exploring outright conversions of their funds to ETFs. And brokerages are becoming more comfortable with buzzy marketing, lower fees and fractional share trading. But
Trading in the secondary market saw AAA benchmark yields rise by three to five basis points but the primary market showed signs of life with several larger new deals getting done at appropriate levels given current market conditions as the coronavirus continues to ravage state and local credit quality. The municipal market weakened a little
The crude oil tanker, Chemtrans Cancale, is seen anchored off shore as it waits to dock at Port Everglades on April 20, 2020 in Fort Lauderdale, Florida. Joe Raedle | Getty Images “Know what you own” is an old adage when investing, but it is especially important when owning investments that hold futures contracts. Just
Tim Boyle | Bloomberg | Getty Images Check out the companies making headlines after the bell. Snap — The social media platform’s shares skyrocketed 18% in extended trading after the company reported strong first-quarter revenue. Snap said it had revenue of $462 million in the first quarter, while analysts polled by Refinitiv anticipated $430 million. “Snapchat
The Wee Barn in Corning, NY is 1436 square feet and includes many green features and aging in place … [+] features. Photo courtesy of Geoffrey C Warner for Downsize: Living Large In a Small House When the dust finally settles on this horrible pandemic, I predict people will be looking for a much different
Commercial real estate company Cushman & Wakefield recently introduced the Six Feet Office concept to showcase some of the ideas it envisions companies will be adopting soon. These include desks spaced 6 ft. apart, along with bold color and visuals such as circles embedded in the carpet to remind people to distance themselves. Cushman &
Oil pumping jacks, also known as “nodding donkeys”, operate in an oilfield near Almetyevsk, Tatarstan, Russia, on Wednesday, March 11, 2020. Andrey Rudakov | Bloomberg | Getty Images This is a developing story. Check back for updates. Trading in the United States Oil Fund, a popular exchange-traded security known for its ‘USO’ ticker which is
As California and America look forward to relaxing restrictions, it’s time to look ahead to meeting the onrushing financial crisis. The coronavirus has created such a massive disruption to the world’s stock markets that almost all California public employee defined-benefit pension plans will never recover. At a minimum, they must be put on a fiscal
A pumpjack operates above an oil well at night in the Bakken Formation on the outskirts of Williston, North Dakota, U.S., on Thursday, March 8, 2018. Bloomberg | Bloomberg | Getty Images The oil industry is in its worst crisis since at least the Great Depression, according to analysts. There’s too much oil, and nobody
Getty Amid the coronavirus pandemic, legal weed sales have spiked, with industry leaders pushing for a federal decriminalization as a means to aid the recovery of the currently shackled economy. Even U.S. Senator Elizabeth Warren (D-Mass.) called for the creation of a legal weed market in a tweet today, April 20, the “weed day” holiday
Richard Connelly, of First International Hamptons Realty, waits for clients at an open house for a nearly-completed home on A.J. Court in Riverhead, New York on March 14, 2020. John Paraskevas | Newsday LLC | Getty Images Both homebuyer and seller demand have weakened dramatically in the last month, as Americans hunker down to help
Sheldon Adelson, chairman and chief executive officer of Las Vegas Sands Corp. Kiyoshi Ota | Bloomberg | Getty Images When casino company Las Vegas Sands announced that it was suspending its dividend, CEO Sheldon Adelson acknowledged that he was going against his own motto. “I am known for the phrase, ‘yay dividends!’, and I assure
House Financial Services Committee Chairwoman Maxine Waters, D- Calif., wants the Federal Reserve to increase the parameters of its short-term note program and extend help to the secondary market. In a letter sent to Fed Chair Jerome Powell Thursday night, Waters said that, while the Fed’s Municipal Liquidity Facility helps provide liquidity to states and
People who lost their jobs wait in line to file for unemployment following an outbreak of the coronavirus disease (COVID-19), at an Arkansas Workforce Center in Fayetteville, Arkansas, April 6, 2020. Nick Oxford | Reuters One out of every five workers in Michigan and Pennsylvania have applied for unemployment benefits, compared to just one out
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