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Day: February 27, 2018

Markets Right Now: Tech, banks, retailers lead stock gains

NEW YORK (AP) — The latest on developments in financial markets (all times local):

Stocks gave up an early gain and ended lower on Wall Street as a late afternoon spike in bond yields sent investors heading to the exits.

Bond yields rose Wednesday after the Federal Reserve released minutes from its latest policy meeting which showed bullish sentiment among policymakers. That signaled more interest rate hikes ahead.

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The yield on the 10-year Treasury note rose sharply after the minutes came out, touching 2.95 percent, its highest level since January 2014.

Technology stocks, which led the early gains, ended lower. Nvidia lost 3 percent.

The Standard & Poor’s 500 index fell 14 points, or 0.5 percent, to 2,701.

The Dow Jones industrial average fell 166 points, or 0.7 percent, to 24,797. The Nasdaq composite lost 16 points, or 0.2 percent, to 7,218.

Gains in technology, banks and industrial companies are driving stocks higher in midday trading, making up some of the ground the market lost a day earlier.

Facebook was up 2.8 percent Wednesday, JPMorgan Chase rose 1.6 percent and Amazon rose 1.8 percent.

Advance Auto Parts jumped 10.6 percent after reporting better earnings than analysts were expecting. Extra Space Storage climbed 1.7 percent after its results also came in ahead of forecasts.

The Standard & Poor’s 500 index rose 19 points, or 0.7 percent, to 2,735.

The Dow Jones industrial average climbed 145 points, or 0.6 percent, to 25,110. The Nasdaq composite increased 72 points, or 1 percent, to 7,307.

Bond prices fell. The yield on the 10-year Treasury rose to 2.90 percent.

Stocks are opening moderately higher on Wall Street, led by gains in retailers and technology companies.

Amazon rose 1.3 percent in the first few minutes of trading, and Adobe Systems also rose 1.3 percent.

Advance Auto Parts jumped 8.5 percent after reporting better earnings than analysts were expecting. Extra Space Storage climbed 5 percent after its results also came in ahead of forecasts.

The Standard & Poor’s 500 index rose 10 points, or 0.4 percent, to 2,726.

The Dow Jones industrial average climbed 75 points, or 0.3 percent, to 25,037. The Nasdaq composite increased 38 points, or 0.5 percent, to 7,275.

Bond prices didn’t move much. The yield on the 10-year Treasury held steady at 2.89 percent.…

The Best And Worst Housing Markets In America

The Best And Worst Housing Markets In America : With the 2006 annual sales and price indexes out in the market, it is now possible to decide the best and worst performers in the real estate market for the last one year. According to the report released by National Association of Realtors, the annual median home prices have increased by 14.6 percent in Seattle, 14.3 percent in El Paso, and 12.3 percent in Portland. Apart from these, the other markets that have experienced a growth from the previous year include Houston, Texas, Los Angeles, California, Austin, Jacksonville and Charlotte.

But for the other markets, the news is bad. Quite a number of major markets that were predicted to do good business have fared badly. Comparing the growth rate of metropolitan areas, New York’s finance department has reported that the metro area has recorded a substantial increase in the median home price. But, the prices have dropped at an average of 1.2 percent in the remaining parts of the US.

According to Kristine Losh, a broker with Ewing and Clark, the prices would still escalate from the current value. She thinks that cities like Seattle due to geographical constraints, have limited land to offer and for this reason the potential buyers would be trying to buy it with an increased price.

Relative increase in the job opportunities and migration has been the main reason for the upward trend of the market in the west. The worst affected area during the slump is Northeast that has recorded 4.8 percent drop in prices.…