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2 Articles
Source: Common Domain

Existing-home sales slump to a near 3-year low as buyers back out

Saturday 14:30 GMT

The numbers: Existing-home sales ran at a seasonally adjusted annual rate of 5.15 million in September, the National Association of Realtors said Friday.

What happened: Sales of previously-owned homes stabilized in August after declining for four straight months, so September’s lurch lower was surprising to some. That was a 3.4% decline for the month, and the lowest pace of sales since November 2015.

1 Article
Source: Common Domain

Italy’s stock market slumps as budget drama looms, weighs on broader European bourses

Saturday 09:55 GMT

Italian stocks were trading sharply lower on Friday as the drama of the country’s budget plan erupted anew and pushed up its sovereign bond yields amid worries that a market-disrupting conflagration between the European Union and Rome won’t be averted.

Italy’s FTSE MIB Italy index I945, -1.03%  was down 1.6% at 18,780, poised for a weekly skid of 2.5% and its fourth straight weekly slide, representing the longest such decline since a five-week retreat ended June 8, according to FactSet data.

1 Article
Source: Global News

A legal pot supply shortage will fuel the black market, experts say

Friday 21:52 GMT

“Once the government fixes their regulatory and taxation system supply will soar,” Stairs agreed, “bringing demand and prices down.”

“Most of the cannabis produced in Canada right now…doesn’t come out of the black market but rather medically licensed growers, the grey market,” Cannabis Commerce Association of Canada director Jaclynn Pehota told Global News. A range of issues, from licenses to packaging, has contributed to the supply issues Canadians are now facing.

2 Articles
Source: Reuters

With market on edge, investors look to tech trio

Saturday 10:49 GMT

The pressure is on for Amazon, Alphabet and Microsoft as they prepare to report quarterly results at a time when confidence in those market leaders looks increasingly fragile and in danger of derailing Wall Street’s rally.

“The equity market is at a critical point here,” said Kurt Brunner, portfolio manager, Swarthmore Group in Philadelphia, Pennsylvania. “In order for it not to get a lot worse, I think you need to see Amazon and Alphabet put up some good numbers.”

1 Article
Source: Common Domain

Dow up nearly 200 points as stock market aims to follow China rebound

Saturday 13:35 GMT

U.S. stocks kicked off Friday trading solidly higher as a rebound in China’s main equity benchmarks assuaged dread about waning global growth, even as Beijing reported the worst rate of economic expansion since 2009.

The Dow Jones Industrial Average DJIA, +0.77% rose 190 points, or 0.7%, to 25,569, while the S&P 500 index SPX, +0.92% advanced 24 points, or 0.9%, to 2,793. Friday’s action also comes on the 31st anniversary of the 1987 stock-market crash.

1 Article
Source: Common Domain

The Berlin Market is Booming but Still has Plenty of Room to Grow

Saturday 10:50 GMT

Thirty years after the reunification of the once divided city, the German capital’s real estate market is experiencing rapid growth: Home prices went up almost 15% from March 2017 to March 2018, according to Knight Frank’s 2018 Berlin Insight report, while average rents increased 11%.

A 2018 Berlin housing market report from Berlin Hyp and CBRE released in January 2018 noted that the city still has lower average household purchasing power and rent prices than other large German cities.

2 Articles
Source: Common Domain

Investors Are Digging Gold Again

Saturday 05:09 GMT

Investors have poured $278 million into the VanEck gold miner ETF over the past month, according to FactSet, while flows into EPFR-tracked gold funds climbed to an 11-week high last week.

The ascent of companies like Barrick Gold, AngloGold Ashanti and Acacia Mining marks a turnaround from recent episodes of jittery markets


“Four hostile newspapers are more to be feared than a thousand bayonets...” ― Napoléon Bonaparte