The recent increase in mortgage rates has had a significant impact on the housing market. After a brief drop in rates during May, last week saw rates climbing once again. The average interest rate for 30-year fixed-rate mortgages rose to 7.05% from 7.01%, with points also increasing. While this may seem like a small change,
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Cathie Wood’s ARK Invest has recently made a significant move by investing in Elon Musk’s startup xAI, showcasing a strong commitment to the artificial intelligence sector. The investment was made through ARK Venture Fund, with the St. Petersburg-based asset manager announcing this development to its clients. In addition to xAI, ARK Venture Fund has also
In light of the COVID-19 pandemic and its subsequent impact on travel, Chinese high-income households are now showing a preference for domestic travel over international destinations. A recent survey by consulting firm Oliver Wyman revealed that only 14% of families earning at least 30,000 yuan a month in mainland China, who traveled internationally last year,
American Airlines shocked the aviation industry when they announced a significant cut in their sales outlook. This decision comes on the heels of the departure of their chief commercial officer, Vasu Raja. Raja, who has been with the company for just over two years, will be leaving his position next month. The airline giant revealed
Semler Scientific, a relatively unknown medical technology company, made headlines recently when it revealed its decision to make bitcoin its primary treasury reserve asset. This strategic move, reminiscent of MicroStrategy’s approach, caused a surge in Semler’s shares by a staggering 37% on Tuesday. Alongside this announcement, Semler disclosed the purchase of 581 bitcoins valued at
Many individuals choose to claim their Social Security retirement benefits early, either at the age of 62 or before reaching their full retirement age. However, experts strongly advise delaying these claims in order to receive the maximum benefits earned. By waiting until full retirement age, which typically falls between 66 and 67, individuals can ensure
When Starbucks and its baristas union resume contract bargaining this week, workers may have renewed momentum at their backs. This comes at a critical time for the coffee giant, as it recently reported a challenging quarter with a 3% decrease in U.S. same-store sales and a 7% drop in traffic. As a response, the company
The financial world is constantly evolving, and this week marks a significant milestone for Wall Street trading. With the implementation of T+1 settlement, the pace of trading is set to pick up speed, bringing about changes that will affect both individual investors and institutional traders. Settlements play a crucial role in the trading process, involving
The recent updates from the CNBC Investing Club with Jim Cramer provided insights into the current market trends and sentiments. The recap highlighted the record-breaking performance of the Nasdaq, driven primarily by the gains in Nvidia shares. While the surge in Nvidia’s stock price was noted as a significant factor, it also raised concerns about
In the world of art collecting, there are various approaches that individuals take when acquiring pieces for their collections. One such individual is multimillionaire Grant Cardone, who has been amassing art for approximately 15 years. Grant admits that he is not a connoisseur and describes himself as a spontaneous buyer. His approach is simple: if