News

Nvidia Boosts NASDAQ as Markets React to Ukraine Tensions
1 day ago

US benchmark equity indexes closed mostly higher Tuesday, driven by a rally in Nvidia shares ahead of its quarterly financial results, as markets monitored escalating tensions between Russia and Ukraine. The Nasdaq Composite rose 1% to 18,987.5, while the S&P 500 increased 0.4% to 5,917. The Dow Jones Industrial Average fell 0.3% to 43,268.9.

Technology led the gainers among sectors, while energy and financials saw the biggest drops. Ukraine has attacked a Russian weapons arsenal with US-made missiles, CNN reported, citing two US officials. The Biden administration recently granted permission to Ukraine to use longer-range American weapons against targets in Russia, as noted in the report. The US 10-year yield fell two basis points to 4.39%, while the two-year rate was little changed at 4.28%. Chip-making giant Nvidia is scheduled to report its fiscal third-quarter results Wednesday.

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Market Insights: Mixed Performance Amid Global Tensions
1 day ago

US benchmark equity indexes experienced a mixed close on Tuesday, impacted by escalating tensions between Russia and Ukraine as traders anticipated Nvidia's latest quarterly financial results. The Nasdaq Composite climbed 1% to 18,987.5, while the S&P 500 increased by 0.4% to 5,917. Conversely, the Dow Jones Industrial Average saw a decline of 0.3%, ending at 43,268.9.

Technology sectors led the upward momentum, while energy and financial sectors faced the sharpest declines. Ukraine has reportedly targeted a Russian weapons arsenal using US-made missiles. The Biden administration has granted Ukraine permission to deploy longer-range American weaponry against targets in Russia, as detailed by officials. The yield on the US 10-year Treasury fell by 2.2 basis points to 4.39%, whereas the two-year rate remained virtually unchanged at 4.28%. Nvidia, a leading chip manufacturer, is set to announce its fiscal third-quarter results on Wednesday.

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Market Reaction to Ukraine Conflict and Retail Growth Insights
1 day ago

US benchmark equity indexes closed with mixed results on Tuesday, reflecting the increasing tensions between Russia and Ukraine. Ukraine's recent attack on a Russian weapons arsenal with missiles made in the United States has caused concern among investors. The Biden administration has granted Ukraine permission to utilize longer-range American weapons against targets in Russia, highlighting the escalating situation in the region. In the housing market, US housing starts saw a decline greater than anticipated last month.

Gains in multi-family projects were overshadowed by a reduction in the single-family housing component, based on government data. Analysts from Oxford Economics noted that Hurricanes Helene and Milton adversely affected starts in the South, stating that "Hurricanes Helene and Milton 'dragged down' starts in the South by more than projected." They expressed optimism regarding a rebound in starts as reconstruction efforts in the hardest-hit areas commence. Retail sales data from Redbook indicated that US same-store retail sales rose by 5.1% year-over-year for the week ending November 16, a notable increase from the previous week's 4.8% gain.

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Rising Mortgage Affordability Offers Hope for Home Buyers
1 day ago

A decline in mortgage rates in September provided significant relief for middle-income households, enhancing affordability levels to their highest since February 2023, as reported by Zillow. At an average mortgage rate of 6.18% in September—marking a two-year low—households earning the median income in the U.S.

could afford 27.7% of homes available on the market. This figure represents the highest proportion in 19 months, in contrast to May’s 22.7% when rates averaged 7.06%. 'Affordability remains the top challenge for first-time home buyers especially, and buying power can change quickly with the unpredictable nature of mortgage rates,' stated Orphe Divounguy, a senior economist for Zillow Home Loans.

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