Oil Rises on China Demand, Slowing U.S. Recession; Homebuilder Shares Surge After Order Increase; Natural Gas ETF to Suspend New Share Offers; Microsoft to Bring Office to Nokia Smartphones; J.D. Power: Auto Sales to Surge Next Year; WTO: China Violated Trade Rules on Books and Movies; Despite Shrinking Sales, Macy’s Beats the Street
James Dale Davidson’s latest special report, “The Plague of the Black Debt,” went live to Notes readers yesterday.
Jobless Claims Fall; China Detains Four Rio Tinto Employees for Alleged Espionage; Retail Roughed Up in June; China Auto Sales Skyrocket; Broadcom Drops Acquisition Attempt; Mortgage Rates Fall; Madoff Won’t Appeal Sentence
While politicians, talking heads, and bloggers blab about the causes of the mortgage crisis, Stan Liebowitz of the University of Texas lays out why they’re all dead wrong in today’s Wall Street Journal.
We wrote yesterday that we think the bottom is NOT in for Florida real estate. This view is bolstered by the fact that mortgage rates are spiking up fast.
Fed’s Beige Book Shows Downturn Slowing; Home Depot Says Worst Is Over; ReFi Apps Slowest Since November; Senate Mulls Bigger Home Loan Tax Credit; U.S. Becomes Largest Shareholder in Citi; Rising Energy Costs Could Stunt Global Recovery; Top Economist Considering Senate Run
Has the housing market hit an absolute bottom yet? Perhaps, but probably not. But there are at least indications however that things could start turning around.
MasterCard Posts 4Q Profit; Buffet’s Berkshire Investing in Swiss Re; Rogers Staying Out of Russia; Ford in Volvo Talks with Geely Auto; Louis Vuitton Misses on Earnings; Brown Refuses to Ban Bonuses; Mortgage Rates Jump; Retail Trade Group Wants Tax Holidays
Mortgage rates plunge to record lows… but are they at the bottom?… Overlooked details from Friday’s jobs news… troubling signs from retail and energy sectors… Rob Parenteau charts a different way to view the S&P… could the worst be over?… Russia/Ukraine gas conflict ends… who “won” the latest resource skirmish… Bill Gross’ sad-but-true guide to 2009… how to invest amid rife market manipulation.
In its latest effort to maintain an annual economic growth rate of 8%, China announced new plans to stimulate the country’s ailing real estate sector.
