"Showings Have Stopped": Housing Market Freezes As Mortgage Rates Soar To 3 Year High

Kamala Harris Teases 2028 Presidential Run: "I'm Thinking About It" Former Vice President Kamala Harris has openly teased the possibility of running for president again in 2028 - telling an audience at the National Action Network’s annual convention in New York City alongside Rev. Al Sharpton: "Listen, I might, I might. I’m thinking about it. I’m thinking about it." The crowd erupted into chants of "Run again!" as Harris spoke. "I served for four years being a heartbeat away from the presidency of the United States," she told the audience. "I spent countless hours...

Nvidia Supplier Hon Hai Sales Beat As Continued AI Demand Offsets Consumer Electronics Decline Nvidia’s server assembly partner Hon Hai Precision Industry reported a bigger-than-expected 40% jump in quarterly sales and said AI demand is growing further, according to Bloomberg.  Hon Hai’s revenue grew to NT$2.51 trillion ($79 billion) in the three months to June, beating the average of analyst estimates of NT$2.37 trillion. Demand for AI-related products drove sales, compensating for a slight decline in demand from consumer electronics and computing products, where soaring memory prices have resulted in widespread...

Opposite What You're Told, Markets Don't Wait For The Fed Authored by Shahid Islam via RealClearMarkets, Financial commentary often makes monetary policy sound mechanical. The Federal Reserve raises interest rates, borrowing costs rise. The Fed cuts rates, borrowing costs fall. History is considerably messier. Beginning in June 2004, the Federal Reserve raised its federal-funds target 17 consecutive times, taking it from 1 percent to 5.25 percent. What happened to the 10-year Treasury yield? It averaged 4.73 percent in June 2004. By February 2007, after the Fed had raised its target by 4.25 percentage points, the...