The housing market in April 2023 experienced a significant decline in sales of previously owned homes, with a 1.9% decrease in sales compared to March. This unexpected decrease has raised concerns among economists and real estate experts about the future of the housing market. One of the major factors contributing to the decline in home
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Federal Reserve Governor Christopher Waller recently made remarks indicating that he does not foresee the need for further interest rate increases. He pointed to a variety of data that suggests inflation is easing, noting that the current policy rates may already be effective in addressing inflationary pressures. Waller’s stance on interest rates is based on
The massive container ship that collided with and collapsed Baltimore’s Francis Scott Key Bridge in March is finally being moved away from the site. The Unified Command, consisting of various local and federal agencies managing the operation, reported that the ship became buoyant at 6:40 a.m. ET and was being transported by tugboats to a
Etsy, a popular e-commerce platform known for its artisan marketplace, is currently facing a challenging period. The company’s first-quarter results revealed a decline in gross merchandise sales, a flat consolidated marketplace revenue, and a decrease in net income compared to the previous year. This disappointing performance has caused a significant drop in Etsy’s stock price,
In a recent development, Tesla has notified the California Employment Development Department of its decision to lay off around 600 employees across its manufacturing facilities and engineering offices in Fremont and Palo Alto. These job cuts are a part of the company’s larger restructuring efforts and have affected employees at various levels, from entry-level positions
United Airlines recently announced that the Federal Aviation Administration (FAA) has given them the green light to add new aircraft and routes. This news comes after several months of increased scrutiny by the FAA due to safety incidents involving the airline. In a note to employees, United Airlines expressed gratitude for the FAA’s approval after
Dell’s shares experienced a significant surge of over 9% to reach an all-time high following Morgan Stanley’s announcement of raising its price target. The forecast of increased sales stemming from the growing demand for artificial intelligence (AI) servers has propelled Dell into the spotlight. Morgan Stanley analyst Erik Woodring highlighted the company’s accelerating momentum, particularly
The wholesale prices saw a significant jump in April, surpassing expectations and indicating a potential obstacle to any immediate interest rate cuts. The producer price index, which measures wholesale prices, increased by 0.5% for the month, higher than the projected 0.3%. The core PPI, excluding volatile food and energy prices, also rose by 0.5%, exceeding
As new college graduates enter the job market, they are faced with a reality that is less promising compared to previous years. Reports from the National Association of Colleges and Employers show that employers are planning to hire about 5.8% fewer new college graduates from this year’s class than they did from the Class of
With the anticipation of potential rate cuts from the Federal Reserve increasing, there is a growing debate surrounding the effectiveness of the central bank’s communication strategies. Despite recent dovish signals from Fed Chair Jerome Powell and the Federal Open Market Committee, economists remain divided on the number of rate cuts to expect in the coming