Mortgage rates in the United States eased to their lowest level in a month last week, offering some relief to borrowers and driving a pickup in refinancing activity, even as demand from homebuyers remained subdued against a backdrop of economic uncertainty and geopolitical tensions. Data from the Mortgage Bankers Association showed total mortgage application volume
Oil prices edged higher on Wednesday after steep losses in the previous session amid uncertainty about the resumption of flows from the Strait of Hormuz. Meanwhile, gold had hit a near one-month high on COMEX earlier in the day, but the precious metal fell slightly amid a rise in energy prices. Silver prices also dipped
US equities moved higher on Wednesday, with the S&P 500 approaching a fresh all-time intraday high. Investor sentiment improved on expectations that the Iran conflict could be nearing a resolution. The benchmark index rose 0.2% and was on track for a record close, while the Nasdaq Composite advanced 0.3%. The Dow Jones Industrial Average gained
The International Monetary Fund has warned that the escalating conflict in the Middle East is adding further stress to an already fragile global fiscal environment. In its latest Fiscal Monitor report released on Wednesday, the IMF said higher interest rates and rising energy prices intensified by the war are increasing pressure on emerging markets and
Finance ministers from more than 10 countries cautioned on Wednesday that the ongoing Middle East conflict would continue to weigh on global growth, inflation, and financial markets, even if a lasting resolution is achieved. The warning came in a joint statement issued during the International Monetary Fund and World Bank Spring Meetings in Washington. The
Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are all trading in the red as the broader crypto market feels the pressure of the US-Iran conflict. Bitcoin’s price has slipped below $71,000, while Ether and XRP are trading below $2,200 and $1.35, respectively. Solana’s SOL is also underperforming and could face further selling pressure in the
Shares of Goldman Sachs fell more than 4% in premarket trading despite the Wall Street giant reporting a strong first-quarter performance, as investors focused on weaknesses in parts of its business and a more uncertain outlook. The bank said profit rose 19% in the first quarter, supported by a rebound in dealmaking and heightened market
Shares of Palantir Technologies rose in early trading on Monday, rebounding after a recent selloff as high-profile support from investors and political figures helped lift sentiment. The stock gained about 2.49% before the bell, trading near $131, even as broader market futures pointed lower amid geopolitical tensions. The move higher follows a difficult stretch for
US stocks fell sharply on Monday, starting the week on a weak note as investors reacted to the collapse of US-Iran weekend talks and a surge in oil prices following fresh military developments in the Strait of Hormuz. The Dow Jones Industrial Average dropped 368 points, while the S&P 500 fell around 0.32%, and the
The US dollar moved higher on Monday after weekend talks between Washington and Tehran failed to produce an agreement to end the ongoing conflict. According to CNBC, the greenback gained 0.3% against the euro, trading at $1.169, and rose 0.25% against the British pound to $1.342. The uptick in the currency came after peace negotiations