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Top Stock Market News For Today December 6, 2021

News to note this week ahead of November’s Consumer Price Index figures.
The post Top Stock Market News For Today December 6, 2021 appeared first on Stock Market News, Quotes, Charts and Financial Information | StockMarket.com.

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Stock Market Futures Continue Recovery As Investors Eye Omicron and Consumer Data

Stock market futures are rising as we begin another trading week. Continuing last week’s theme, investors are likely closely watching developments on two key fronts as of this week’s opening bell. Namely, updates on the spread of the Omicron Covid variant and its impact on the economic recovery would be in focus. After all, the broader stock market continues to see bouts of volatility as the virus news halted the recent momentum in stocks. So, the question now is, what should investors be expecting?

Well, to begin with, the U.S. Centers for Disease Control and Prevention (CDC), provided an Omicron update over the weekend. According to CDC director Dr. Rochelle Walensky, the new variant is already present in 15 U.S. states. Walensky also notes that new case numbers are likely to rise accordingly. Even so, Mona Mahajan, a senior investment strategist at Edward Jones Investments, does not seem to be concerned. Mahajan recently said, “We still think markets can move forward, can move higher, perhaps not as high as we saw in the last three years, but in line with earnings growth and perhaps [with] a little bit more volatility”. Additionally, she also notes that the firm sees “another kind of leg again for value cyclical trade.

Overall, even with concerns over the latest coronavirus variant, analysts seem to see continued strength in consumer markets. For the most part, the prominence of e-commerce services could be a key factor in all of this. While these may be the general points of focus, there remains plenty of stock market news for investors to know about today. As of 6:50 a.m. ET, the Dow and S&P 500 futures are trading higher by 0.40% and 0.22% respectively. Meanwhile, Nasdaq futures are declining by 2.05%.

[Read More] Best Growth Stocks To Buy? 4 E-Commerce Stocks To Watch

Trump-related Social Media Venture Confirms $1 Billion Funding

Investors could be keeping an eye on former President Donald Trump’s social media venture, Digital World Acquisition Corporation (NASDAQ: DWAC) today. Over the weekend, the company reportedly finalized agreements to raise $953 million from a group of investors. Moreover, DWAC, which will be bringing the Trump Media & Technology Group public, is contributing an additional $293 million to the current deal. All of this brings the total proceeds of this transaction to a whopping $1.25 billion.

All in all, the former President seems to see this as a huge win for the company. He said, “$1 billion sends an important message to Big Tech that censorship and political discrimination must end”. He also added, “America is ready for TRUTH Social, a platform that will not discriminate on the basis of political ideology.” While the demand for this new social media platform remains to be seen, the news would turn some heads. Given the surge in DWAC stock back in October, investors could be eyeing it in the stock market today.

[Read More] Best Monthly Dividend Stocks To Buy? 4 For Your December 2021 Watchlist

Boot Barn CEO Sees Further Growth After Record Year

In other news, Boot Barn (NYSE: BOOT) appears to be looking towards newer heights on the operational front moving forward. Evidently, CEO Jim Conroy recently highlighted this in an interview with CNBC’s Jim Cramer. According to Conroy, the company is now raising its long-term store count target of 500 locations. He noted that solid performances across Boot Barn’s new stores are a major driving force for this decision. In fact, Conroy believes that the company will blow past the 500 locations figures by “a couple hundred stores”.

By and large, Boot Barn’s array of casual western apparel appears to be gaining attention. In its latest quarterly earnings report back in October, the company saw green across the board. Boot Barn reported a total revenue of $312 million for the quarter, marking a solid 69% year-over-year increase. Furthermore, the company also posted year-over-year gains of over 525% in both its net income and earnings per share. Also, BOOT stock is currently looking at year-to-date gains of over 180%. All things considered, the company’s shares could be in focus now as holiday shoppers come out in full force.

[Read More] 4 Top Semiconductor Stocks To Watch In December 2021

Volatile Weekend For Bitcoin Among Other Cryptocurrencies

Over the weekend Bitcoin (BTC), among other cryptos, hit yet another snag in their supposed growth story. For crypto bears, this would come as no surprise given the history of volatility behind the cryptocurrency. On Saturday, Bitcoin prices dived to a low of almost $43,000. At the peak of the sell-off, Bitcoin was down by a fifth of its value. Since then, the digital currency appears to be holding just under the $50,000 mark going into the week. Accordingly, the current movement in cryptos could be due to the overall market volatility. This is understandable with Covid uncertainties and the Fed looking to tighten its easy-money policies.

Overall, this would serve to tone down recent predictions from bullish investors suggesting Bitcoin could hit the $100,000 by 2023. Now, both sides of the crypto trade do have their talking points. On one hand, with a Bitcoin futures ETF being approved by the SEC back in October, some are considering the possible growing legitimacy of the currency. On the other hand, volatile times such as this continue to rein in expectations for the industry. Admittedly, some may be revisiting the notion of crypto offering diversification from other asset classes. Regardless, with all this activity in the crypto world, cryptocurrencies and crypto stocks alike would be in the spotlight today.

Stock Market Earnings To Consider

Not forgetting, there are also several notable tech firms posting earnings today. In the pre-market, we have the Science Applications International Corporation (NYSE: SAIC) and DLH Holdings (NASDAQ: DLHC). For some context, both firms provide tech solutions to government agencies. Alternatively, those looking to jump on post-market earnings action have plenty to consider as well. Namely, Coupa Software (NASDAQ: COUP), MongoDB (NASDAQ: MDB), Sumo Logic (NASDAQ: SUMO), and GitLab (NASDAQ: GTLB) are on tap. Whether it is market volatility, news on Covid and the economy, or even companies making plays, one thing is apparent. There is no shortage of news to keep investors on their toes in the stock market today.

The post Top Stock Market News For Today December 6, 2021 appeared first on Stock Market News, Quotes, Charts and Financial Information | StockMarket.com.

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Homes listed for sale in early June sell for $7,700 more

New Zillow research suggests the spring home shopping season may see a second wave this summer if mortgage rates fall
The post Homes listed for sale in…

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  • A Zillow analysis of 2023 home sales finds homes listed in the first two weeks of June sold for 2.3% more. 
  • The best time to list a home for sale is a month later than it was in 2019, likely driven by mortgage rates.
  • The best time to list can be as early as the second half of February in San Francisco, and as late as the first half of July in New York and Philadelphia. 

Spring home sellers looking to maximize their sale price may want to wait it out and list their home for sale in the first half of June. A new Zillow® analysis of 2023 sales found that homes listed in the first two weeks of June sold for 2.3% more, a $7,700 boost on a typical U.S. home.  

The best time to list consistently had been early May in the years leading up to the pandemic. The shift to June suggests mortgage rates are strongly influencing demand on top of the usual seasonality that brings buyers to the market in the spring. This home-shopping season is poised to follow a similar pattern as that in 2023, with the potential for a second wave if the Federal Reserve lowers interest rates midyear or later. 

The 2.3% sale price premium registered last June followed the first spring in more than 15 years with mortgage rates over 6% on a 30-year fixed-rate loan. The high rates put home buyers on the back foot, and as rates continued upward through May, they were still reassessing and less likely to bid boldly. In June, however, rates pulled back a little from 6.79% to 6.67%, which likely presented an opportunity for determined buyers heading into summer. More buyers understood their market position and could afford to transact, boosting competition and sale prices.

The old logic was that sellers could earn a premium by listing in late spring, when search activity hit its peak. Now, with persistently low inventory, mortgage rate fluctuations make their own seasonality. First-time home buyers who are on the edge of qualifying for a home loan may dip in and out of the market, depending on what’s happening with rates. It is almost certain the Federal Reserve will push back any interest-rate cuts to mid-2024 at the earliest. If mortgage rates follow, that could bring another surge of buyers later this year.

Mortgage rates have been impacting affordability and sale prices since they began rising rapidly two years ago. In 2022, sellers nationwide saw the highest sale premium when they listed their home in late March, right before rates barreled past 5% and continued climbing. 

Zillow’s research finds the best time to list can vary widely by metropolitan area. In 2023, it was as early as the second half of February in San Francisco, and as late as the first half of July in New York. Thirty of the top 35 largest metro areas saw for-sale listings command the highest sale prices between May and early July last year. 

Zillow also found a wide range in the sale price premiums associated with homes listed during those peak periods. At the hottest time of the year in San Jose, homes sold for 5.5% more, a $88,000 boost on a typical home. Meanwhile, homes in San Antonio sold for 1.9% more during that same time period.  

 

Metropolitan Area Best Time to List Price Premium Dollar Boost
United States First half of June 2.3% $7,700
New York, NY First half of July 2.4% $15,500
Los Angeles, CA First half of May 4.1% $39,300
Chicago, IL First half of June 2.8% $8,800
Dallas, TX First half of June 2.5% $9,200
Houston, TX Second half of April 2.0% $6,200
Washington, DC Second half of June 2.2% $12,700
Philadelphia, PA First half of July 2.4% $8,200
Miami, FL First half of June 2.3% $12,900
Atlanta, GA Second half of June 2.3% $8,700
Boston, MA Second half of May 3.5% $23,600
Phoenix, AZ First half of June 3.2% $14,700
San Francisco, CA Second half of February 4.2% $50,300
Riverside, CA First half of May 2.7% $15,600
Detroit, MI First half of July 3.3% $7,900
Seattle, WA First half of June 4.3% $31,500
Minneapolis, MN Second half of May 3.7% $13,400
San Diego, CA Second half of April 3.1% $29,600
Tampa, FL Second half of June 2.1% $8,000
Denver, CO Second half of May 2.9% $16,900
Baltimore, MD First half of July 2.2% $8,200
St. Louis, MO First half of June 2.9% $7,000
Orlando, FL First half of June 2.2% $8,700
Charlotte, NC Second half of May 3.0% $11,000
San Antonio, TX First half of June 1.9% $5,400
Portland, OR Second half of April 2.6% $14,300
Sacramento, CA First half of June 3.2% $17,900
Pittsburgh, PA Second half of June 2.3% $4,700
Cincinnati, OH Second half of April 2.7% $7,500
Austin, TX Second half of May 2.8% $12,600
Las Vegas, NV First half of June 3.4% $14,600
Kansas City, MO Second half of May 2.5% $7,300
Columbus, OH Second half of June 3.3% $10,400
Indianapolis, IN First half of July 3.0% $8,100
Cleveland, OH First half of July  3.4% $7,400
San Jose, CA First half of June 5.5% $88,400

 

The post Homes listed for sale in early June sell for $7,700 more appeared first on Zillow Research.

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Survey Shows Declining Concerns Among Americans About COVID-19

Survey Shows Declining Concerns Among Americans About COVID-19

A new survey reveals that only 20% of Americans view covid-19 as "a major threat"…

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Survey Shows Declining Concerns Among Americans About COVID-19

A new survey reveals that only 20% of Americans view covid-19 as "a major threat" to the health of the US population - a sharp decline from a high of 67% in July 2020.

(SARMDY/Shutterstock)

What's more, the Pew Research Center survey conducted from Feb. 7 to Feb. 11 showed that just 10% of Americans are concerned that they will  catch the disease and require hospitalization.

"This data represents a low ebb of public concern about the virus that reached its height in the summer and fall of 2020, when as many as two-thirds of Americans viewed COVID-19 as a major threat to public health," reads the report, which was published March 7.

According to the survey, half of the participants understand the significance of researchers and healthcare providers in understanding and treating long COVID - however 27% of participants consider this issue less important, while 22% of Americans are unaware of long COVID.

What's more, while Democrats were far more worried than Republicans in the past, that gap has narrowed significantly.

"In the pandemic’s first year, Democrats were routinely about 40 points more likely than Republicans to view the coronavirus as a major threat to the health of the U.S. population. This gap has waned as overall levels of concern have fallen," reads the report.

More via the Epoch Times;

The survey found that three in ten Democrats under 50 have received an updated COVID-19 vaccine, compared with 66 percent of Democrats ages 65 and older.

Moreover, 66 percent of Democrats ages 65 and older have received the updated COVID-19 vaccine, while only 24 percent of Republicans ages 65 and older have done so.

“This 42-point partisan gap is much wider now than at other points since the start of the outbreak. For instance, in August 2021, 93 percent of older Democrats and 78 percent of older Republicans said they had received all the shots needed to be fully vaccinated (a 15-point gap),” it noted.

COVID-19 No Longer an Emergency

The U.S. Centers for Disease Control and Prevention (CDC) recently issued its updated recommendations for the virus, which no longer require people to stay home for five days after testing positive for COVID-19.

The updated guidance recommends that people who contracted a respiratory virus stay home, and they can resume normal activities when their symptoms improve overall and their fever subsides for 24 hours without medication.

“We still must use the commonsense solutions we know work to protect ourselves and others from serious illness from respiratory viruses, this includes vaccination, treatment, and staying home when we get sick,” CDC director Dr. Mandy Cohen said in a statement.

The CDC said that while the virus remains a threat, it is now less likely to cause severe illness because of widespread immunity and improved tools to prevent and treat the disease.

Importantly, states and countries that have already adjusted recommended isolation times have not seen increased hospitalizations or deaths related to COVID-19,” it stated.

The federal government suspended its free at-home COVID-19 test program on March 8, according to a website set up by the government, following a decrease in COVID-19-related hospitalizations.

According to the CDC, hospitalization rates for COVID-19 and influenza diseases remain “elevated” but are decreasing in some parts of the United States.

Tyler Durden Sun, 03/10/2024 - 22:45

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Rand Paul Teases Senate GOP Leader Run – Musk Says “I Would Support”

Rand Paul Teases Senate GOP Leader Run – Musk Says "I Would Support"

Republican Kentucky Senator Rand Paul on Friday hinted that he may jump…

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Rand Paul Teases Senate GOP Leader Run - Musk Says "I Would Support"

Republican Kentucky Senator Rand Paul on Friday hinted that he may jump into the race to become the next Senate GOP leader, and Elon Musk was quick to support the idea. Republicans must find a successor for periodically malfunctioning Mitch McConnell, who recently announced he'll step down in November, though intending to keep his Senate seat until his term ends in January 2027, when he'd be within weeks of turning 86. 

So far, the announced field consists of two quintessential establishment types: John Cornyn of Texas and John Thune of South Dakota. While John Barrasso's name had been thrown around as one of "The Three Johns" considered top contenders, the Wyoming senator on Tuesday said he'll instead seek the number two slot as party whip. 

Paul used X to tease his potential bid for the position which -- if the GOP takes back the upper chamber in November -- could graduate from Minority Leader to Majority Leader. He started by telling his 5.1 million followers he'd had lots of people asking him about his interest in running...

...then followed up with a poll in which he predictably annihilated Cornyn and Thune, taking a 96% share as of Friday night, with the other two below 2% each. 

Elon Musk was quick to back the idea of Paul as GOP leader, while daring Cornyn and Thune to follow Paul's lead by throwing their names out for consideration by the Twitter-verse X-verse. 

Paul has been a stalwart opponent of security-state mass surveillance, foreign interventionism -- to include shoveling billions of dollars into the proxy war in Ukraine -- and out-of-control spending in general. He demonstrated the latter passion on the Senate floor this week as he ridiculed the latest kick-the-can spending package:   

In February, Paul used Senate rules to force his colleagues into a grueling Super Bowl weekend of votes, as he worked to derail a $95 billion foreign aid bill. "I think we should stay here as long as it takes,” said Paul. “If it takes a week or a month, I’ll force them to stay here to discuss why they think the border of Ukraine is more important than the US border.”

Don't expect a Majority Leader Paul to ditch the filibuster -- he's been a hardy user of the legislative delay tactic. In 2013, he spoke for 13 hours to fight the nomination of John Brennan as CIA director. In 2015, he orated for 10-and-a-half-hours to oppose extension of the Patriot Act

Rand Paul amid his 10 1/2 hour filibuster in 2015

Among the general public, Paul is probably best known as Capitol Hill's chief tormentor of Dr. Anthony Fauci, who was director of the National Institute of Allergy and Infectious Disease during the Covid-19 pandemic. Paul says the evidence indicates the virus emerged from China's Wuhan Institute of Virology. He's accused Fauci and other members of the US government public health apparatus of evading questions about their funding of the Chinese lab's "gain of function" research, which takes natural viruses and morphs them into something more dangerous. Paul has pointedly said that Fauci committed perjury in congressional hearings and that he belongs in jail "without question."   

Musk is neither the only nor the first noteworthy figure to back Paul for party leader. Just hours after McConnell announced his upcoming step-down from leadership, independent 2024 presidential candidate Robert F. Kennedy, Jr voiced his support: 

In a testament to the extent to which the establishment recoils at the libertarian-minded Paul, mainstream media outlets -- which have been quick to report on other developments in the majority leader race -- pretended not to notice that Paul had signaled his interest in the job. More than 24 hours after Paul's test-the-waters tweet-fest began, not a single major outlet had brought it to the attention of their audience. 

That may be his strongest endorsement yet. 

Tyler Durden Sun, 03/10/2024 - 20:25

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