News 

Mortgage rates resume free fall as ‘uncertainty’ swirls

“The 15-year fixed-rate mortgage averaged 3.16%, down from 3.18%” writes Andrea Riquier for marketwatch.com. Rates for home loans fell to a seven-week low as ongoing economic uncertainty kept a tight lid on bond yields, mortgage provider Freddie Mac said Thursday.The 30-year fixed-rate mortgage averaged 3.89% during the August 17 week, down from 3.90% in the prior week and now just one basis point above its 2017 low.Late last year, most housing analysts expected the benchmark 30-year fixed-rate mortgage would average about 4.50% throughout 2017.The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged…

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News Regulators 

Some Fed members say bank can be ‘patient’ on interest rates due to low inflation

“The Fed appears less settled on the timing of its next increase in interest rates” writes Jeffry Bartash for marketwatch.com. The bank had signaled it would raise its benchmark fed funds rate one more time this year, but a surprising slowdown in inflation has forced officials to reconsider their next step. “Some”Fed officials said the bank could ‘afford to be patient” before raising interest rates again.WASHINGTON (MarketWatch) — Senior Federal Reserve officials engaged in deep debate in July about the path of U.S. inflation after a spate of surprisingly low…

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News Regulators 

Fed eyes September debt drawdown; some want ‘patient’ on rates

“The Fed also engaged in a deep debate over surprisingly low inflation readings, with some saying the bank could ‘afford to be patient” before raising interest rates again” writes Jeffry Bartash for marketwatch.com. The Fed’s staff in July slightly reduced its 2017 forecast for inflation, as many senior officials saw a greater likelihood that “inflation might remain below 2% for longer than they currently expected.”. The Fed had been on track to raise rates one more time this year, but now a majority of Wall Street investors believe the bank…

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Microsoft memo confirms Consumer Reports was right about the Surface

“Consumer Reports initially recommended four Microsoft Surface devices, which have been praised by critics for their design, features, and performance” writes Killian Bell for cultofmac.com. Microsoft insists it has addressed all problems with the Surface lineup now, and that return rates have decreased over the last 12 months as a result.Microsoft previously denied that users were experiencing an abnormal number of issues with its devices, but an internal document reveals that the Surface Book and Surface Pro 3 both have unusually high return rates long after launch. Source: cultofmac.com Share This:

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Markets News 

Fitch Ratings rates legalization a ‘buy’

“For the United States, cannabis legalization has been one big experiment” writes Https Www Facebook for greenstate.com. First, the firm predicts that state markets for recreational cannabis will “dwarf” the medical cannabis market, citing a larger pool of potential consumers.According to a recent report from international market research firm Fitch Ratings, legalization of recreational cannabis may lead to significant revenue for state governments, a decline in the price of cannabis, and implications for pot’s black market.Following legalization in Colorado, for example, the price of cannabis fell 31 percent, from about…

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Wal-Mart earnings: Some analysts say traffic has fallen, others say it has grown

“Still, in a head-to-head, Cowen analysts prefer Wal-Mart to Target Corp” writes Tonya Garcia for marketwatch.com. Wal-Mart Stores Inc. is expected to report second-quarter earnings on Thursday before the market opens.See also: Retail sales expected to show rare glimmer in July after devastating run Here are some things to watch for: Earnings: Wal-Mart is expected to report earnings of $1.07, in line with last year’s result.Wal-Mart has an average overweight rating, and average price target of $82.33, according to 32 analysts polled by FactSet. Source: marketwatch.com Share This:

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Fed’s Dudley wants to keep raising interest rates slowly

“New York Fed President William Dudley said Monday that he is in favor of continuing to slowly raise short-term interest rates even with inflation below the central bank’s 2% target” writes Senior Economics Reporter for marketwatch.com. In an interview with the Associated Press, Dudley listed two reasons to continue to raise short-term rates, saying financial conditions have eased even though the Fed has been tightening and the current level of short term rates is “pretty low.”.  Source: marketwatch.com Share This:

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7 countries at risk of becoming ‘demographic time bombs’

“People are working longer hours, fertility rates are falling, and future economies are being put at risk” writes Chris Weller for businessinsider.com. The country’s population is falling faster than ever before, and it’s prompted economists to call the nation a “demographic time bomb” — defined as a place where fertility rates are falling at the same time that longevity is increasing. Source: businessinsider.com Share This:

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News Stocks 

Goldman: Buy Netflix, Nvidia and other growth stocks as higher rates stifle earnings

“To insulate the effects of reductions in earnings multiples, Kostin recommended these high growth stocks to investors” writes Akio Kon for cnbc.com. Fifty-five percent of S&P 500 companies have beaten earnings expectations in the second quarter, the highest share of companies since 2010.”The majority of the recent market rally has been driven by higher earnings rather than valuation expansion,” wrote Goldman Sachs chief U.S. equity strategist David Kostin.”Going forward, we expect growth to continue to drive S&P 500 stock returns. Source: cnbc.com Share This:

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