Home Sales Fell Again in April After High Mortgage Rates Damped Activity

Sales of previously owned homes decreased 1.9% from the prior month to a seasonally adjusted annual rate of 4.14 million. 


 
Nasdaq Holds Steady Ahead of Nvidia Earnings

The S&P 500 and the Dow ticked lower, while the tech-heavy Nasdaq Composite was roughly flat as markets awaited earnings data from Nvidia, due after the bell. 


 
U.S. Crude Oil Stockpiles Rose Last Week

U.S. crude oil inventories rose by 1.8 million barrels last week and gasoline stocks fell, while refineries stepped up their capacity use for a third consecutive week 


 
30-year mortgage rate drops to a seven-week low

Mortgage rates fell for the third week in a row, boosting refinancing activity. 


 
Some European Countries Move to Recognize Palestinian State

The announcements by Norway, Ireland and Spain reflect deepening frustration with Israel's war in Gaza, where the Israeli military was moving deeper into Rafah. 


 
Fed Is In 'Risk Management' Mode with Rate Policy as It Seeks Clarity on Inflation

Fed Presidents Mester, Collins, and Bostic preach patience in determining whether price growth is cooling. 


 
U.K. Inflation Closes In on Bank of England Target as Rate Cuts Near

The U.K.'s consumer prices were 2.3% higher in April, nearing the Bank of England's target and opening the way for a rate cut in the coming months, although prices of services continued to rise at a pace that will concern policymakers. 


 
Gold's Latest Allure? It's Sanctions-Proof

Buying from central banks, particularly from China, can keep the gold rally going even if anxious individual investors don't jump in. 


 
Risky Bonds Join the Everything Rally

The premium paid by high-yield debt falls to near pandemic-era lows. 


 
Hedge funds cut stakes in Magnificent Seven to invest in broader AI boom

Money managers invested in utility companies, chip makers, and technology firms that could benefit from the growth of the AI sector, Goldman Sachs analysis shows


(END) Dow Jones Newswires

05-22-24 1315ET