Existing-home sales slide for third-straight month in June, touch 5-month low as housing sputters

The numbers: Existing-home sales ran at a 5.38 million seasonally-adjusted annual rate in June, the National Association of Realtors said Monday. That matched the MarketWatch consensus precisely. What happened: With fewer and fewer homes available for purchase, there’s little path upward for sales. June marked the third consecutive month in which sales declined. It was the lowest selling rate since […]

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Barclays has raided Credit Suisse yet again for a senior stock-trading hire as it continues to ramp up its equities business

Barclays’ CEO Jes Staley, who has made major investments in the firm’s equities franchise.REUTERS/Peter Nicholls Barclays has hired a new electronic equities executive from Credit Suisse, the latest in a string of investments in its stock-trading franchise. Kevin O’Connor is joining Barclays equities business as head of electronic equities origination for the Americas, the British lender announced Monday. Barclays has […]

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Oil jumps after Trump warns Iran of grave 'consequences'

Iranian President Hassan Rouhani at a meeting with Muslim leaders and scholars in Hyderabad, India. Thomson Reuters Oil prices jumped nearly 2% early Monday. President Donald Trump warned Iranian President Hassan Rouhani late Sunday of “CONSEQUENCES THE LIKES OF WHICH FEW THROUGHOUT HISTORY HAVE EVER SUFFERED BEFORE” after the Iranian leader said a US-Iran conflict would be the “mother of […]

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Top 4 Oil Stocks for July 2018

Many oil stocks have been beaten up for several years as oil prices were depressed. However, there has been some relief recently, with the Organization of Petroleum Exporting Countries (OPEC) making moves to help relieve the oil oversupply that has been keeping prices down. After a prolonged period of lower prices, West Texas Intermediate (WTI) reached prices of around $75 toward the end of June […]

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U.S. existing home sales fall for third straight month

U.S. home sales fell for a third straight month in June as a persistent shortage of properties on the market pushed up house prices to a record high, likely sidelining some potential buyers. FILE PHOTO: Development and construction continues on a large-scale housing project of over 600 homes in Oceanside, California, U.S., June 25, 2018. REUTERS/Mike Blake/File PhotoThe National Association […]

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Market confident Russia will hold rate at 7.25 percent on Friday

MOSCOW (Reuters) – The Russia Russian central bank is seen holding the key rate at 7.25 percent on Friday after it indicated last month the government’s proposal to increase value added tax has all but dashed prospects for further cuts in the coming months. Looking for extra funding for decrees ordered by President Vladimir Putin, the government proposed to raise […]

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Trump Hopes For Extraordinary Relationship With Putin

President Donald Trump sat down with Russian President Vladimir Putin for their highly anticipated meeting in Helsinki, Finland, on Monday amid lingering questions about Russian interference in the 2016 presidential election. In remarks ahead of a one-on-one meeting, Trump expressed optimism the two leaders would end up having an “extraordinary relationship.” “I think we have great opportunities together as two […]

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Yen and yuan in focus as traders weigh Trump comments

The week kicked off with a focus on Asian currencies, as Japan’s yen jumped on Bank of Japan policy chatter and China said its yuan was only weakening due to market forces. The U.S. dollar meanwhile was muted, combating a hangover from President Donald Trump’s comments late last week, in which he voiced his displeasure with Federal Reserve rate increases […]

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