An S&P 500 10% correction is likely this summer, says Piper Sandler
The firm’s chief market technician says investors are failing to heed warning signs, including poor market breadth and waning momentum.
Southwest Airlines cuts revenue forecast, blaming changing booking patterns
The company said it still expects record quarterly operating revenue in the second quarter.
Both mortgage rates and weekly mortgage demand are stuck in place, suggesting a slow summer housing market
Total mortgage application volume was essentially flat last week, up just 0.8% from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.
Wall Street strategists see limited gains for the rest of year after big first half
A CNBC survey shows strategists on a median basis anticipate that the S&P 500 will end the year just slightly higher from here.
YouTube dominates streaming, forcing media companies to decide whether it’s friend or foe
YouTube is gaining share of viewership on TVs, and legacy media doesn’t have a uniform strategy to deal with the threat.
Rep. Jamaal Bowman, a vocal Israel critic and ‘squad’ member, loses primary
NBC News projects Westchester County Executive George Latimer defeated Bowman after a bitter and expensive Democratic race in New York’s 16th District.
Rep. Lauren Boebert wins GOP primary after switching districts
NBC News projects Boebert won the Republican nomination in Colorado’s 4th District, friendlier territory than her former district.
GM’s Cruise names former Amazon, Microsoft Xbox executive as new CEO
General Motors’ Cruise autonomous vehicle unit on Tuesday announced Marc Whitten, a former Amazon and Microsoft executive, as its new CEO.
Housing market to remain ‘stuck’ until at least 2026, Bank of America says
The bank sees a variety of factors lining up against both a major improvement in sales and a drop in prices.
U.S. auto sales are expected to slow during the second half of 2024
Vehicle inventory levels are growing, incentives are increasing and there’s growing uncertainty surrounding the economy, interest rates and U.S. election.
