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By Rae Wee SINGAPORE (Reuters) - The dollar waned on Tuesday following a slight pick up in risk appetite, but it held tight ranges against its peers ahead of key inflation data from major economies this week that markets are looking to for guidance on the global interest rate outlook. Currency moves were largely subdued in early Asia hours after a quiet overnight session due to holidays in Britain and the United States, but the overall mood was positive with world shares firming. The euro was a touch firmer at $1.0860 despite some dovish comments from European Central Bank (ECB) policymakers on Monday and data showing German business morale stagnated in May. German inflation data due on Wednesday and the wider euro zone bloc's reading on Friday will be watched for confirmation of an ECB rate cut expected next week, alongside clues on how soon subsequent easing from the central bank could come. "The ECB is preparing itself for rate cuts next week, but the importance is wh...

Hacked off with soaring housing costs and stubborn mortgage rates? Disgusted by skimpy supply and the fierce bidding wars that are now required to find a decent place to live?  If you’re looking for revenge, buy mortgage-backed securities. No, investing in these lesser-known financial instruments won’t directly cut high housing costs. But it will position you to gain from a housing opportunity that has remained hidden by bond pundits’ persistent fixation on the Federal Reserve. Investing in mortgage-backed securities will position you to gain from a housing opportunity that has remained hidden by bond pundits’ persistent fixation on the Federal Reserve. REUTERS I write mostly on stocks , but a bargain is a bargain. If you’re taking retirement cash flow or just crave lower volatility, blending bonds with stocks can help. And, yes, you could buy Treasurys – longer-term maturities if rates are falling, shorter-term if you think rates will rise. Or corporate bonds for higher ...

United States stock markets will be closed on Monday, May 27 in observance of Memorial Day . The Nasdaq and New York Stock Exchange will be closed Monday and reopen Tuesday, May 28. The U.S. bond market will close at 2 p.m. ET Friday, May 24 according to the  Securities Industry and Financial Markets Association . Memorial Day is one of many holidays in the U.S. that observe and honor the armed forces. Originally called "Decoration Day," Memorial Day dates back to the 1860s and commemorates those who have died while serving in the U.S. military. After closing for Memorial Day, it will be business as usual on Wall Street until mid-June. The next scheduled stock market closure is on Wednesday, June 19, in observance of Juneteenth. What is a meme stock? How social media can outsmart the market. United States stock market 2024 holiday schedule Markets will be closed for the following holidays: Memorial Day: Monday, May 27 Juneteenth: Wednesday, June 19 Independence...

The U.S. housing market is now tilting in favor of buyers, who are pushing back against the high home prices that sellers are demanding, according to Compass cofounder and CEO Robert Reffkin. He told CNBC on Wednesday that 30% of the inventory on the market has seen a price drop, which is more than anytime in last 10 years. Meanwhile, the market has seen 16% more inventory. “It is a different environment. We are now seeing more sellers than buyers,” he said. Reffkin said there have been more price cuts in the South, which had seen steep increases earlier as Americans left more expensive states during the pandemic. Florida’s housing market has also been hit by a spike in home insurances costs, which have soared 40% year over year and are weighing on asking prices, he explained. “Sellers bringing their homes on the market during this period need to be aware of how buyers are pushing back,” Reffkin said. “If your home is well priced in this environment, it will sell quickly. But ...

Wpadington/iStock via Getty Images We previously covered DraftKings ( NASDAQ: DKNG ) in November 2023, discussing its excellent FQ3'23 earnings call, thanks to the robust growth observed in its Monthly Unique Payers [MUP] and Average Revenue Per MUP, implying the stickiness of its gaming platform and loyal consumers with robust spending power. Even so, we had maintained our Hold rating then, since the stock continued to trade at a premium over its peers, with it remaining to be seen how the competition from PENN Entertainment's ESPN Bet ( PENN ) might turn out. By now, DKNG has exceeded expectations by reporting an impressive FY2023 and FQ1'24 earnings results, while charting a +8.5% stock price return compared to the wider market at +16.4%. With it still reporting a leading gaming market share in the US while raising its FY2024 guidance, it is apparent that we have been too bearish thus far as DKNG continues to be a market leader, resulting in our upgraded rating ...

The U.S. housing market crisis has been marked by tight inventory and high prices, but two economists pointed to a source of affordable homes that could be unlocked by amending a federal law from 1974. More precisely, the elimination of five words from the  National Manufactured Housing Construction and Safety Standards Act would boost demand for and the availability of manufactured homes, according to Lee Ohanian and James Schmitz, who are economists at UCLA and the University of Minnesota, respectively. In an op-ed in the Washington Post on Tuesday, they said amending the law to remove the requirement that manufactured homes must be “built on a permanent chassis” would make them more attractive to consumers, save them money, and be safer, providing a “first step in bringing back this once-popular housing alternative.” Just before passage of that law, 1 in 3 single-family homes that were produced in the U.S. were manufactured, meaning they were built completely in a factory...