Author: News Room

The pace of US consumer price increases continued to cool down in March from last summer’s scorching-hot levels: Annual inflation, as measured by the Consumer Price Index, dropped for the ninth consecutive month, the Bureau of Labor Statistics reported Wednesday. Prices rose 5% for the 12 months ended in March, down from 6% in February. It’s the smallest 12-month increase since May 2021. On a monthly basis, CPI, which measures price changes over time for a basket of goods, ticked up 0.1% from February, as compared to a previous 0.4% increase. Shelter costs were the largest contributor of the monthly…

Today’s housing market is so pricey that homebuyers are highly sensitive to any distinct moves in mortgage rates. And that’s what happened last week. Rates dropped, and buyers dove in.The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) decreased to 6.30% from 6.40%, with points decreasing to 0.55 from 0.59, including the origination fee, for loans with a 20% down payment, according to the Mortgage Bankers Association. That was a weekly average decline, but a sharper, one-day drop smack in the middle of the week was likely the impetus for demand.”Incoming data last…

It’s going to be tough for the Federal Reserve to beat inflation without declines in the auto and housing industries, CNBC’s Jim Cramer said on Tuesday.When the Fed raises interest rates, investors typically expect the housing, auto and retail industries to suffer. But that hasn’t been the case during this economic cycle, partially due to persistent supply chain issues, he said. related investing news”You want to break the back of inflation, you need to break the back of the auto and housing industries,” Cramer said. “Unfortunately, the Fed has failed in doing so — and it didn’t even matter that a…

Many Americans plan to save less than $5000 this year and are relying on their tax refunds to build rainy day funds, according to a recent survey. The majority of Americans (59%) saved about the same last year, according to the TaxAct survey. Financial experts recommend that consumers have roughly three to six months’ worth of living expenses in emergency savings but inflation and rising costs have made this target a challenge.  Inflation and rising costs were listed as the top financial concern for over 50% of respondents and the biggest reason why Americans are unable to build savings. This concern has…

People like to hunt for treasure along the Southern California coast. Amid the sunbathers, surfers and castle builders, it’s not uncommon to see beach hunters sweeping metal detectors over the sand. But not all the great finds are hidden underneath the sunbaked surface. Some are in plain sight, such as this awe-inspiring beach house right on the sand in Del Mar. Priced at US $14.95 million, the home combines appealing contemporary design, high-quality finishes and abundant outdoor space. The ocean-facing façade makes an immediate impression with sleek clean lines, walls of glass and sophisticated accent lights. An oceanfront patio with…

The $1 rule takes the guilt out of shopping, and helps you stop overspending to save more money toward financial independence. When I started my journey to pay off my student loan debt, I was hit with the same advice over and over again — cut out unnecessary expenses and adhere to a super-strict budget. It worked for a few months, but constantly tracking every cent and berating myself for spending on things I enjoy did not inspire me to become more financially responsible. It made saving money tedious and monotonous. I decided to do the opposite — I loosened…

Johnson & Johnson stock (NYSE: JNJ) is scheduled to report its Q1 2023 results on Tuesday, April 18. We expect J&J to report revenues and earnings slightly above the consensus estimate, and JNJ stock appears to have more room for growth. The company will likely see a slight rise in revenue led by continued market share gains for some of its drugs, including Darzalex, which will help offset the decline in Remicade sales. The company completed the acquisition of heart pump maker maker – Abiomed – last year, and it is expected to aid the top-line growth of its MedTech…

By Howard Schneider WASHINGTON (Reuters) – Jeffrey Haley, the CEO of American National Bank and Trust Company, saw the crunch coming at the start of 2023. Rising interest rates and a slowing economy to him meant that loan growth would likely fall by half as the Danville, Virginia-based community bank turned its focus to better-quality, higher-yielding credit, worrying little about volume. Then a pair of U.S. regional banks abruptly failed in mid-March. Instinct told him things would tighten further, with loan growth plunging to perhaps a quarter of what it was in 2022, when his bank’s loan book grew by…

BEIJING (Reuters) – A Chinese woman has become the first person to die from a type of bird flu that is rare in humans, the World Health Organisation (WHO) said, but the strain does not appear to spread between people. The 56-year-old woman from the southern province of Guangdong was the third person known to have been infected with the H3N8 subtype of avian influenza, the WHO said in a statement late on Tuesday. All of the cases have been in China, with the first two cases reported last year. The Guangdong Provincial Centre for Disease Control and Prevention reported…

© Reuters. FILE PHOTO: The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. REUTERS/Angus Mordant (Reuters) – Pioneer Natural Resources (NYSE:) Co’s shares rose as much as 8.5% on Monday following a report that Exxon Mobil Corp (NYSE:) held preliminary talks with the U.S. shale oil producer about a possible acquisition. Shares of Pioneer were up 6.5% at $221.74, while Exxon Mobil inched up 0.2% to $115.25. The Wall Street Journal had reported the news on Friday, citing people familiar with the matter. Pioneer is the third-largest…