Both prospective home buyers and sellers are backing off from the U.S. housing market, a new survey shows.

Their anxiety over higher mortgage rates and a softening market was registered by the Fannie Mae Home Purchase Sentiment Index FNMA, which dropped by 2 points in July to 62.8. That’s the lowest level since 2011.

The percentage of respondents...

Rose was in town as part of a celebration of the 1980 Phillies team that won a World Series title. After initially hearing boos on Sunday, the 81-year-old Rose received a standing ovation from Phillies fans.

Rose has long been a controversial figure. After a playing career that would all but certainly have made him a first-ballot Hall of Fame inductee, Rose was banned from the game in 1989 for betting on the sport while serving as a manager for the Reds, where he also had been a player-manager.

See also: FuboTV will ‘no longer pursue’ in-house sports betting on its own

Rose, a Cincinnati native, acknowledged in 2017 that he did have a relationship with the woman, but he said it started when she was 16. He also said they never had sex outside of Ohio, where the age of consent is 16. At the time, Rose was married with two children and in his mid-30s.

“They made me feel real good today,” Rose said of the cheers. “I don’t want to say I expected...

While many investors have been betting on the Fed to pivot away from its aggressive rate-hiking stance next year, they risk “ignoring a host of important considerations,” Steven Ricchiuto, chief U.S. economist at Mizuho Securities and Alex Pelle, U.S. economist, wrote in a Monday client note.

“For starters, the anticipated reversal in policy in 2023 requires a highly unusual deceleration in inflation from the over 9% year-over-year rise reported last month,” the team wrote.

“Alternatively, a 2023 reversal in policy could be triggered by an unforeseen financial debacle, but these types of dislocations are never good for risk assets, so again the equity rally looks out of sync with the macro fundamentals.”

Furthermore, approval by Senate Democrats on Sunday of the Inflation Reduction Act, a big healthcare, climate and tax package, which includes some corporate tax increases, “suggests the markets need to take onboard a tighter fiscal policy on top of the...

The issue particularly came into focus recently — just ahead of International Cat Day, coincidentally — with a story that has gotten a lot of attention online.

Auralee Smith, a 21-year-old New Jersey college student who used to work as a Starbucks SBUX,

Matt Schlapp, chairman of the Conservative Political Action Coalition (CPAC), believes former president Donald Trump will lead the conservative movement until “he takes his last breath.”

Schlapp described Trump’s relationship with the Republican party as an “unshakable bond” when asked about the former president’s 2024 election prospects at a recent CPAC Texas event.

Warren Buffett’s company reported a $43.76 billion loss in the second quarter as the paper value of its investments plummeted and he bought significantly fewer stocks, but Berkshire Hathaway’s many operating companies generally performed well.

Berkshire said Saturday that a largely unrealized $53 billion decline in the value of its investments forced it to report a loss of nearly $44 billion, or $29,754 per Class A share. That is down from $28.1 billion, or $18,488 per Class A share, a year ago.

BlackRock, the world’s largest asset manager, likes investment-grade credit more than stocks as it sees “a new market regime with higher volatility taking shape,” according to a note Monday from strategists at the firm’s investment institute.

Investment-grade credit can “weather a significant growth slowdown whereas equities don’t look priced for this risk,” the strategists said in the note. “Yields look more attractive than at the start of the year,” they said, “making for improved valuations and a larger cushion against...

also fell 0.1%. In addition to August hitting the "dog days" of summer when many on Wall Street and beyond take time off for vacations, investors appeared hesitant to make big moves in equities ahead of the consumer-price index update for July, due Wednesday, after its last monthly update pegged the cost of living at a 9.1% annual rate, a 41-year high. Wednesday's CPI reading comes on the heels of Friday's blockbuster jobs report for July, which underscored strong wage gains for workers in the past year, which may complicate the Federal Reserve's efforts to cool inflation, particularly if household demand for goods and services stays robust and keeps pressure on prices, despite higher interest rates.

A game-changing new bill, dubbed the Inflation Reduction Act, could dramatically reduce how much seniors have to spend on medications. 

There are several proposed changes for Medicare and its beneficiaries under the Senate budget reconciliation bill from Senate Majority Leader Chuck Schumer, D-NY, and Sen. Joe Manchin, D-WV, which was approved over the weekend. The House is expected to pass the legislation this week, according to media reports.

The Senate on Sunday approved Democrats’ big healthcare, climate and tax package after a marathon session, notching a victory for President Joe Biden’s party ahead of key midterm elections in November.

By a vote of 51-50 — with Vice President Kamala Harris breaking the tie — senators OK’d the package and sent it on to the Democratic-controlled House of Representatives. Biden on Friday called the bill “a game changer for working families and our economy,” as he also hailed a stronger-than-expected jobs report. No Republicans voted “yes,” as GOP senators argued the measure wouldn’t address soaring inflation but would sock Americans with higher taxes.

“Going forward, the company will benefit from a fresh perspective to build upon its strengths and capitalize fully on its long-term future growth opportunities, regardless of macroeconomic headwinds,” said Independent Director Lawton Fitt.

The board has appointed William Conway, co-founder and former co-CEO, to serve as interim CEO. Lee’s abrupt departure comes less than two weeks after Carlyle reported earnings, which beat expectations.

Shares of Carlyle have lagged behind its peers Apollo Global Management (APO) and KKR ( KKR ).

On the news, Carlyle’s stock tumbled about 5% to $35.68. It has fallen 35% this year versus Apollo and KKR, which are down 20% and 29%, respectively.

Lee, who served as the firm’s sole CEO since 2020, has tried to revamp the funds core structure. He broke down Carlyle into three distinct business units—private equity, credit and investment solutions. In 2021, two-thirds of Carlyle’s record $51 billion fundraise was...

Add another voice to the growing chorus of naysayers about the staying power of the recent rally in U.S. equities.

The stock market’s rally since the Federal Reserve’s last jumbo rate hike in late July looks increasingly out of sync with macro fundamentals, particularly the roaring U.S. labor market, economist at Mizuho Securities warned on Monday.

While...

Global stocks have risen 11% from the lows of March, but strategists at JPMorgan say the gains can continue through the end of the year.

Strategists led by London-based Mislav Matejka are optimistic even with expectations that purchasing managers’ indexes have more room to fall, and that analysts will further downgrade earnings per share estimates. In fact, they say, the good news is bad, as it will lead to a policy pivot.

Global stocks have risen 11% from the lows of March, but strategists at JPMorgan say the gains can continue through the end of the year.

Strategists led by London-based Mislav Matejka are optimistic even with expectations that purchasing managers’ indexes have more room to fall, and that analysts will further downgrade earnings per share estimates. In fact, they say, the good news is bad, as it will lead to a policy pivot.

“Going forward, the company will benefit from a fresh perspective to build upon its strengths and capitalize fully on its long-term future growth opportunities, regardless of macroeconomic headwinds,” said Independent Director Lawton Fitt.

The board has appointed William Conway, co-founder and former co-CEO, to serve as interim CEO. Lee’s abrupt departure comes less than two weeks after Carlyle reported earnings, which beat expectations.

Shares of Carlyle have lagged behind its peers Apollo Global Management (APO) and KKR ( KKR ).

On the news, Carlyle’s stock tumbled about 5% to $35.68. It has fallen 35% this year versus Apollo and KKR, which are down 20% and 29%, respectively.

Lee, who served as the firm’s sole CEO since 2020, has tried to revamp the funds core structure. He broke down Carlyle into three distinct business units—private equity, credit and investment solutions. In 2021, two-thirds of Carlyle’s record $51 billion fundraise was...

and other automakers assembling in the U.S. that turn out alternatives to gas engines.

But consumers will have to balance excitement over these purchase sweeteners — a conditional $4,000 tax credit for the purchase of used EVs and $7,500 for new ones — against scarce inventory and vital semiconductor chip shortages. Cars, trucks and SUVs, especially EVs, are now much less mechanical and more digital.

The new draft spending bill is much more modest than the $3.5 trillion version Democrats originally put forward. But it restores some of the sustainable energy, EV and broader environmental efforts that featured prominently in early versions, It also comes at a time when Americans, and many around the world, are struggling with high inflation, recession jitters and volatile energy prices RB00,

Oil futures ended higher Monday, with the U.S. benchmark extending a bounce off a six-month low as investors weighed prospects for demand amid mixed signals on the health of the economy. West Texas Intermediate crude for September delivery CL.1,

Bed Bath & Beyond Inc. shares soared 36% Monday with no apparent news driving the move, as the Wall Street Bets crowd on Reddit again embraced the “meme” stock.

One individual on the Reddit forum, who goes by the name of “TheDude0007,” said his inbox has been blowing up with inquiries about his decision-making process after he said he had “10x’d a $45K YOLO” in Bed Bath & Beyond. YOLO stands for you only live once.

and other automakers assembling in the U.S. that turn out alternatives to gas engines.

But consumers will have to balance excitement over these purchase sweeteners — a conditional $4,000 tax credit for the purchase of used EVs and $7,500 for new ones — against scarce inventory and vital semiconductor chip shortages. Cars, trucks and SUVs, especially EVs, are now much less mechanical and more digital.

The new draft spending bill is much more modest than the $3.5 trillion version Democrats originally put forward. But it restores some of the sustainable energy, EV and broader environmental efforts that featured prominently in early versions, It also comes at a time when Americans, and many around the world, are struggling with high inflation, recession jitters and volatile energy prices RB00,

Warren Buffett’s company reported a $43.76 billion loss in the second quarter as the paper value of its investments plummeted and he bought significantly fewer stocks, but Berkshire Hathaway’s many operating companies generally performed well.

Berkshire said Saturday that a largely unrealized $53 billion decline in the value of its investments forced it to report a loss of nearly $44 billion, or $29,754 per Class A share. That is down from $28.1 billion, or $18,488 per Class A share, a year ago.

SAVANNAH, Ga. (AP) — The white man who fatally shot Ahmaud Arbery after chasing the 25-year-old Black man in a Georgia neighborhood was sentenced Monday to life in prison for committing a federal hate crime.

Travis McMichael was sentenced by U.S. District Court Judge Lisa Godbey Wood in the port city of Brunswick. His punishment is largely symbolic, as McMichael was sentenced earlier this year to life without parole in a Georgia state court for Arbery’s murder.