Tesla turned higher even after analysts downgrade shares of the electric-vehicle maker after a strong run, Boeing slumped as workers at supplier Spirit AeroSystems vote to strike, and a report said Amazon's purchase of iRobot faces a full-scale EU investigation.
2 minReal Estate
Previously owned homes were sold at a seasonally adjusted annual rate of 4.3 million in May, a roughly 20% drop year over year.
2 minFTC says Amazon ‘tricked’ people into joining Prime, Lab-grown ‘cultivated chicken’ products head to restaurants, home sale inventory dwindles as higher rates discourage sellers, and other news to start your day.
Long readPeloton stock was initiated at Underperform at Wolfe Research, Tesla CEO Elon Musk said the electric-vehicle maker will be expanding into India 'as soon as humanly possible,' and sales slumped at Winnebago.
3 minA seasonally-adjusted 1.4 million homes were for sale in May, Redfin says. That's the lowest count since 2012, according to the brokerage's records.
3 minThe demand for new homes is strong because the supply of previously-owned homes remains low. Housing starts in May saw the biggest monthly increase since October 2016.
2 minChina moves to jolt post-Covid growth, what the Paris Air Show says about the aviation recovery, and other news to start your day.
Long readAfter more than a year of rapid rises in mortgage rates, relief is in sight—but lower rates may not come as quickly as prospective buyers would like, economists say.
3 minSecurities backed by home loans offer attractive income and relatively cheap prices, with some mutual funds and ETFs yielding about 5%.
Long readKroger beats profit expectations but maintains earnings guidance for the year, XPeng receives approval to launch its assisted-driving technology, Cava surges in its trading debut, and SoFi stock slides after a downgrade.
2 minApplications for home loans were up last week, the biggest weekly gain since January, according to Mortgage Bankers Association data.
2 minShares of home generator makers have gotten hit hard after a post-Covid sales boom faded.
3 minShares climbed after the home builder's earnings beat. The quarter covered the bulk of the typically hot spring season.
2 minUnitedHealth tumbles after the health insurer says seniors have been catching up on procedures they delayed during the pandemic, leading to higher costs, Advanced Micro Devices launches a new AI chip to challenge Nvidia's dominance in the space, and Tesla edges lower after rising for a record 13 consecutive sessions.
2 minThe busiest time of the year for signing new leases is here and there’s finally some good news: Rents are rising at the slowest rate in years. Learn why.
While the cost for shelter remains hot, gains in asking rent prices have cooled after soaring earlier in the pandemic.
3 minZillow's measure of the nation's typical asking rent is increasing less quickly than earlier in the pandemic, but it varies.
3 minThe Bureau of Labor Statistics will report the May consumer price index on Tuesday, and the Federal Open Market Committee makes its monetary-policy decision on Wednesday.
1 minIt is "intended to, among other things, increase the per share trading price of the class A Common Stock to satisfy the price requirements for continued listing on the NYSE," the company said.
2 minSevere weather events are producing big underwriting losses for insurers. The industry needs to quickly adjust its risk model and pricing strategy.
Long read