Category: Latest News
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US mortgage applications down 2.7%
Mortgage applications in the United States decreased by 2.7% on a seasonally adjusted basis in the week ending April 19, the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey showed on Wednesday. According to the report, the average 30-year mortgage rate increased to 7.24% from 7.13%. The Refinance Index fell 6% compared to the previous…
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US durable goods orders up 2.6% in March
The number of durable goods orders in the United States went up by 2.6% or $7.3 billion in March, landing at $283.4 billion, a report published by the United States Census Bureau on Wednesday showed. Transportation equipment led the upbeat trend, jumping 7.7% or $6.8 billion in comparison to the previous month, coming in at…
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U.S. Manufactured Goods New Orders Surge; Oil Inventories Expected To Increase
With orders for transportation equipment showing a substantial increase, the Commerce Department released a report on Wednesday showing new orders for U.S. manufactured durable goods surged by more than expected in the month of March. The report said durable goods orders soared by 2.6 percent in March after climbing by a downwardly revised 0.7 percent…
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AT&T Exceeds First-Quarter Expectations with Strong Subscriber Growth and Cash Flow
AT&T has exceeded Wall Street forecasts for the first quarter, bolstered by significant growth in wireless subscriber additions and an impressive increase in free cash flow. The telecom leader saw a surge in customers opting for its higher-tier unlimited plans, largely driven by its competitive pricing and expansive 5G network rollouts. During this period, AT&T…
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Upbeat Earnings News May Lead To Extended Rebound On Wall Street
The major U.S. index futures are currently pointing to a higher open on Wednesday, with stocks likely to extend the notable upward move seen over the two previous sessions. A positive reaction to the latest corporate earnings news may contribute to an extended rebound on Wall Street following the considerable weakness seen last week. Shares…
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Boeing’s Recovery Slowed by Reduced 737 MAX Production Amid Safety Concerns
Boeing is facing a challenging period following a severe mid-air incident in January, as CEO Dave Calhoun informed employees on Wednesday. The aircraft manufacturer’s recovery is expected to be slowed by reduced production rates of its 737 MAX series, an action taken to enhance the quality and safety of its aircraft. Calhoun, who plans to…
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Tesla Surges 10% on Growth Outlook and Plans for Affordable Models in 2025
Tesla shares jumped by 10% on Wednesday, igniting investor optimism as the company outlined a growth forecast for the year and announced plans to introduce more affordable electric vehicle models in early 2025. This announcement came as a relief to stakeholders who had been concerned by a series of negative events surrounding the company, including…
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Investment Updates: Analyst Ratings and Price Target Changes
In a flurry of analyst activity, several key companies have undergone notable changes in their investment outlooks. Here are the details: Airbnb, Inc. (ABNB) Mizuho Securities has upgraded its rating on Airbnb from ‘Neutral’ to ‘Buy’. The firm also raised its price target for the stock from USD 150 to USD 200, signaling strong future…
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U.S. Futures Display Mixed Results Amid Earnings, WTI and Brent Crude Prices Dip in June Futures Trading
U.S. index futures are showing mixed results in pre-market trading this Wednesday, as investors assess the latest financial results released. As of 6:31 AM, Dow Jones Industrial Average futures (DOWI:DJI) fell 8 points, or 0.02%. S&P 500 futures advanced 0.14%, and Nasdaq-100 futures gained 0.56%. The 10-year U.S. Treasury yield stood at 4.638%. In the…
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Tesla Surges 12% with 2025 Affordable Vehicle Promise, Evotec Slumps 36% on Uncertain Outlook, and Latest Earnings
Tesla (NASDAQ:TSLA) – Tesla shares rose 11.96% in pre-market trading on Wednesday, even though its first-quarter earnings were below analysts’ forecasts. Tesla reported an adjusted earnings per share of 45 cents with revenues of $21.3 billion, while analysts had expected earnings per share of 51 cents and revenues of $22.15 billion. Moreover, Tesla revealed plans…