FINANCE

Saving for a down fee on a house can take a very long time, particularly amid steep mortgage charges and excessive dwelling costs. That’s why some Individuals want to household for assist. In truth, the share of first-time homebuyers who obtained down fee presents or loans from family members or pals through the homebuying course of in 2023 was 23%, …

Reuters OPEC and Saudi Arabia are shedding their management over the world oil market. That is resulting from booming US provide, which has helped offset OPEC’s drastic provide cuts. Saudi Arabia might be pushed to wage oil “market share warfare,” one skilled mentioned. OPEC+ and Saudi Arabia’s try and regain management of the oil market seems to be wavering, evidenced …

Spencer Platt/Getty Photos The inventory market is more likely to see file highs in early 2024 after an “extraordinarily uncommon” sign simply flashed. That is based on Carson Group chief market strategist Ryan Detrick, who highlighted one other signal that breadth is enhancing. “We proceed to count on shares to do fairly nicely and we stay chubby equities,” Detrick mentioned. …

In case you are available in the market for a luxurious Swiss watch now could be your greatest time to purchase — simply in time for the vacations. Subdial, a watch trade information supplier, reported that its Bloomberg Subdial Watch Index fell once more for the month of November, down 3% from the prior month and 10% from a yr …

Paramount International (PARA) inventory surged as a lot as 14% on Friday after Deadline reported late Thursday non-public funding agency RedBird Capital, together with Skydance Media CEO David Ellison, had been seeking to purchase Nationwide Amusements’ voting shares and take management of the media conglomerate. Shari Redstone at the moment serves because the non-executive chairwoman of Paramount International and president …

Shares dropped earlier than the open Friday as traders assessed the US month-to-month jobs report, which may make or sink the case for the Federal Reserve to begin reducing rates of interest. Dow Jones Industrial Common (^DJI) futures had been down about 0.4%, whereas S&P 500 (^GSPC) futures had been round 0.3% decrease. Contracts on the tech-heavy Nasdaq 100 (^NDX) …

(Bloomberg) — Taiwan Semiconductor Manufacturing Co.’s gross sales slid again into contraction final month following October positive aspects, exhibiting there’s nonetheless a solution to go earlier than the worldwide chip market phases a full restoration from a chronic droop. Most Learn from Bloomberg The world’s largest provider of made-to-order chips recorded a 7.5% drop in income to NT$206 billion ($6.6 …

Reuters JPMorgan’s bearish 2024 inventory market outlook may very well be derailed by a surge in small cap shares. Technical strategist Jason Hunter expects the S&P 500 to fall 23% by mid-2024. However a risk-on surge in shares which have largely missed out on this yr’s rally might trigger a rethink. JPMorgan’s high chart professional Jason Hunter was bearish on …

Michael Burry (left) and Elon Musk.Getty Echoing Elon Musk and Michael Burry, an economist has warned about American shoppers’ debt woes. File credit-card debt threatens to spark a consumer-spending slowdown quickly, Carl Weinberg mentioned. Weinberg expects the US economic system to chill however not slide into recession, and he sees inflation fading. Echoing the likes of Tesla’s Elon Musk and …

Rivian (RIVN) inventory is on the transfer larger in the present day with a brand new bull becoming a member of the herd. Stifel initiated protection of the electrical journey car maker with a Purchase ranking and a $23 worth goal. The funding financial institution sees higher pricing, robust demand for its automobiles, and margin growth within the yr forward …