stock market Archives - The Minnesota Sun

U.S. Home Sales Continued to Grow in October as Housing Market Remains Hot

November 27, 2021November 26, 2021 Minnesota Sun Staff

A beige house in a suburban community during the day

Home sales in the U.S. grew in October as buyers continue to enter a hot market, according to the National Association of Realtors.

Existing home sales increased at the fastest pace since January, growing 0.8% in October from the previous month to a seasonally adjusted rate of 6.34 million, the National Association of Realtors (NAR) reported Monday. October home sales declined 5.8% compared to the figure in October 2020, with the inventory of unsold homes decreasing 12% to 1.25 million on a year-over-year basis.

“Home sales remain resilient, despite low inventory and increasing affordability challenges,” Lawrence Yun, NAR’s chief economist, said in the report. “Inflationary pressures, such as fast-rising rents and increasing consumer prices, may have some prospective buyers seeking the protection of a fixed, consistent mortgage payment.”

Stock Market Nosedives as Massive Sell-Off Continues

September 21, 2021September 20, 2021 Minnesota Sun Staff

Major stock market indices plummeted Monday in a continuing sell-off tied to China’s declining property value, increasing COVID-19 cases and lack of progress in Congress on increasing the debt limit.

The Dow Jones Industrial Average (DJIA), an index measuring 30 major U.S. corporations, dropped 1.78% on Monday. The S&P index, which measures 500 of the largest publicly traded companies, fell 1.7%, while the NASDAQ, an index composed largely of technology firms, declined 2.19%.

Commentary: ‘Follow the Science’ with Dr. Fauci

March 10, 2021March 9, 2021 Minnesota Sun Staff

No matter what we are told by the “experts,” science is constantly evolving and is rarely ever as settled as those in power want us to believe. Doctors are often forced to make consequential decisions and recommendations based on partial or incomplete sets of data and information. Perhaps no one knows this better than Dr. Anthony Fauci, the director of the National Institute of Allergy and Infectious Diseases.

According to Fauci, it is now safe for schools to reopen. All it took was the passing of President Biden’s “COVID relief bill,” which will likely be signed into law this week. “As we now have the relief bill signed at $1.9 trillion — a lot of that is going into addressing COVID-19 including help to the schools to allow them to more safely bring the kids back,” Fauci said on Monday. Considering that the Congressional Budget Office estimated that 95 percent of the money appropriated from the bill to fund schools will not be spent this year, there was no reason for Fauci to present its passing as a prerequisite for reopening schools — unless of course we fool ourselves into believing that he is motivated by science, and not by whatever the Biden administration tells him to say.

GameStop Revolt Redditors File Class Action Lawsuit Against Robinhood for Cutting off Access to the Market as Hedge Fund Losses Mount

February 2, 2021February 1, 2021 Minnesota Sun Staff

by Andrew Kerr A class-action lawsuit filed against the investing app Robinhood on Thursday just hours after it prohibited its users from purchasing GameStop stock is unlikely to be successful in court, legal experts told the Daily Caller News Foundation. And federal regulators with the Securities and Exchange Commission…

NY Stock Exchange Begins Delisting Securities of China Telecom Companies, Following Trump’s Order

January 3, 2021January 2, 2021 Minnesota Sun Staff

The New York Stock Exchange has began the process of delisting securities of three China telecom companies, following President Trump’s order last month barring U.S. investments in Chinese firms believed to be owned or controlled by the Chinese military.

Congress Passes Bill to Boot Chinese Companies from Stock Exchanges If They Don’t Comply with Audits

December 4, 2020December 3, 2020 Minnesota Sun Staff

The U.S. House of Representatives approved legislation Wednesday that would boot businesses from China and other foreign countries from U.S. stock exchanges if they failed to give American auditors access to examine financial reports.

Analysis: Jobs, Housing Show Recovery Continues

October 27, 2020October 26, 2020 Minnesota Sun Staff

There were only two insightful reports on the economy this past week—for jobs and housing. Both show impressive gains.

Weekly initial unemployment claims fell by 56,000, to 787,000. They are down more than 100,000 from a month ago. There has also been a substantial decline in the insured unemployment rate to 5.7 percent from 8.7 percent a month ago. Also, the number of people receiving unemployment insurance payments fell to 8.4 million; it was 12.6 million a month ago.

Recovery Continues, Economy Should be Back to Peak in Fourth Quarter

October 12, 2020October 11, 2020 Minnesota Sun Staff

The rapid recovery from the lockdown continues. Economic reports from September indicate the economy has rebounded to 97 percent of its peak reached this past February. The surge in new orders for both manufacturing and service companies points to further gains in the months ahead.

These gains should bring the economy’s output and spending (GDP) back to its prior peak during the fourth quarter of the year.

Tech Leads the Way as US Stocks Head for a Third Month of Gains

June 23, 2020June 23, 2020 The Associated Press

Stocks closed higher on Wall Street Tuesday, extending the market’s recent winning streak after another strong showing by technology companies.

The S&P 500 rose 0.4% and is on pace for its third straight monthly gain. The Nasdaq composite, which is heavily weighted with technology stocks, climbed to an all-time high for the second day in a row. Bond yields rose, another sign of increasing confidence in the economy.

Stock Indexes Move Higher on Wall Street After a Shaky Start

June 22, 2020June 22, 2020 The Associated Press

Stock indexes are higher on Wall Street in choppy trading Monday as investors weigh the risks that rising coronavirus cases could pose to hopes for an economic recovery.

The S&P 500 rose 0.4% in midday trading after an initial slide of 0.6% following weakness in overseas markets as the global tally of infections approaches 9 million. The price of gold rose, a signs of caution in the market. Bond yields were mixed.

Stocks Rally Worldwide on Hopes for Coming Economic Recovery

June 17, 2020June 16, 2020 The Associated Press

Stocks rose again Tuesday, part of a strong and worldwide rally for markets, after a big rebound in buying at U.S. stores and online raised hopes that the economy can escape its recession relatively quickly.

The S&P 500 climbed 1.9% for its third straight gain, bringing it back within 8% of its record set in February. Gains have built in recent weeks as reports bolster investor expectations that the worst of the downturn may have already passed.

Wall Street Veers Higher on Fed Plan to Buy Corporate Bonds

June 16, 2020 The Associated Press

Stocks swung solidly higher on Wall Street in afternoon trading Monday after the Federal Reserve said it would begin buying individual corporate bonds, the central bank’s latest move to prop up volatile financial markets through the economic fallout of the coronavirus pandemic.

The S&P 500 was up 1% after being down as much as 2.5% shortly after trading began in New York. The gains followed sharp losses in Asia and more moderate ones in Europe. Worries were on the rise that new waves of coronavirus infections around the world could derail the swift economic recovery that Wall Street had seemed sure just a week ago was on the way.

Stocks Bounce Higher on Wall Street a Day After Big Rout

June 13, 2020June 13, 2020 The Associated Press

Stocks moved higher on Wall Street in afternoon trading Friday, recouping some of their losses a day after the market had its biggest rout since mid-March.

The S&P 500 was up 0.7% a day after dropping 5.9%. The benchmark index is still headed for a weekly loss following three weeks of solid gains. Small-company stocks and bond yields moved broadly higher, signs that pessimism about the economy was easing.

Wall Street’s Rally Zooms Higher After Surprise Gain in Jobs

June 5, 2020September 14, 2020 The Associated Press

Stocks are rushing higher in morning trading Friday after a much better-than-expected report on the U.S. job market gave Wall Street’s recent rally another shot of adrenaline.

The S&P 500 was up 2.2% after the government said that U.S. employers added 2.5 million workers to their payrolls last month. Economists were expecting them instead to slash another 8 million jobs amid the recession caused by the coronavirus and the shutdowns put in place to stem it.

Commentary: The Myth That the President and the Fed Direct the Stock Market

March 18, 2020March 17, 2020 Minnesota Sun Staff

If you own stocks, you’re probably searching for explanations about the sudden bear market. The answers you find likely start with an event: what the Fed does, what President Trump does, or what the coronavirus does.

Trump Declares National Emergency to Deal With COVID-19; Announces ‘Drive-Thru Testing’

March 14, 2020March 13, 2020 Minnesota Sun Staff

President Trump on Friday declared a national emergency to deal with the coronavirus pandemic, amid media hysteria and a tumbling stock market. The virus, which originated in Wuhan, China, has infected more than 1,700 people in the United States, and killed 41 of them.

Dow Passes 29,000 for First Time in History Despite Jobs Report

January 13, 2020January 12, 2020 Minnesota Sun Staff

The Dow Jones passed the 29,000 mark for the first time in history during early trading Friday following a record high opening of S&P.

2019: The Year Stock Market Records Broke Their Own Records and Made History

December 31, 2019December 30, 2019 Minnesota Sun Staff

Since the 2016 election, the U.S. stock market has produced historic records.

SEC Transaction Fee Pilot Program Could Save Big Money for Small Investors, Pensioners

August 21, 2018August 20, 2018 Admin

By Robert Romano In March, the Securities and Exchange Commission (SEC) proposed a new transaction fee pilot that would “subject stock exchange transaction fee pricing, including ‘maker-taker’ fee-and-rebate pricing models, to new temporary pricing restrictions across three test groups, and require the exchanges to prepare and publicly post data,” according to the…

Maverick Musk Eyes $72 Billion Buyout to Take Tesla ‘Private’

August 8, 2018August 7, 2018 Admin

Tesla CEO Elon Musk is considering leading a buyout of the electric car maker in a stunning move that would end the maverick company’s eight-year history trading on the stock market. In his typically unorthodox fashion, the eccentric Musk dropped his bombshell on his Twitter account, which he has used…

US Steel Says It Will Add 800 Jobs Thanks to Tariffs

June 8, 2018June 7, 2018 Jason M. Reynolds

US Steel is hiring in the wake of President Donald Trump’s steel tariffs, CBS Pittsburgh says, citing a CNN Money report. US Steel said Tuesday it’s restarting the second of two blast furnaces at its plant in Granite City, Illinois, near St. Louis. It will bring on 300 workers to…