Mortgage rates dropped to the lowest level since March last week, sparking swift demand in refinancing. Homebuyers, however, seemed unimpressed. Applications to refinance a home loan jumped 15% last week, compared with the previous week, to the highest level since August 2022, according to the Mortgage Bankers Association’s seasonally adjusted index. Demand was 37% higher […]Read More
Local police alerted the Secret Service before former president Donald Trump’s rally Saturday that they lacked the resources to station a patrol car outside a key building where a gunman later positioned himself and shot at Trump, according to local and federal law enforcement. Richard Goldinger, the district attorney in Butler County, Pa., where the […]Read More
A few things seem fairly obvious when it comes to the 2024 presidential election. One is that President Biden is not the candidate he once was. His ability to press his case is diminished, and questions about his fitness will mean that every appearance through Election Day will be adjudicated not only on policy and […]Read More
Rep. Adam Schiff (D-Calif.), who is heavily favored to win California’s Senate race in November, called on President Biden on Wednesday to drop out of the presidential contest, becoming one of the highest-profile members of his party to urge Biden to abandon his bid. In a statement, Schiff called Biden “one of the most consequential […]Read More
The Democratic National Committee is preparing to hold a virtual roll call to nominate President Biden for reelection during the first week of August, moving forward with the plan as Democrats continue to weigh Biden’s political viability following his faltering debate performance. The plan for a virtual roll call was unveiled in May but has […]Read More
DETROIT — General Motors will increase production of its Cadillac Escalade V-Series performance model as part of updates to the flagship SUV for the 2025 model year. The new SUV features a standard 55-inch diagonal display across the dash, including a passenger-only screen; an “executive package” for the second row; power doors; large 24-inch wheels; and other enhancements. “The […]Read More
Federal Reserve Governor Christopher Waller on Wednesday suggested that interest rate cuts are ahead soon as long as there are no major surprises on inflation and employment. “I believe current data are consistent with achieving a soft landing, and I will be looking for data over the next couple months to buttress this view,” Waller […]Read More
Gold jumped to a record Tuesday as rising expectations of a September interest rate cut bolstered demand for bullion. Gold futures advanced 1.7% to $2,471.1, topping the previous high of $2,454.20 reached May 20. Spot gold jumped 1.8% to $2,465.95 during the session, which is an all-time high according to LSEG data going back to 1968 […]Read More
The Washington Post reported on Tuesday that President Biden has warmed to the idea of reforming the Supreme Court. At the beginning of his term, pressure from the base of the Democratic Party prompted Biden to create a commission aimed at evaluating the institution, a classic D.C. move given that a committee report technically isn’t […]Read More
This story is part of CNBC Make It’s The Moment series, where highly successful people reveal the critical moment that changed the trajectory of their lives and careers, discussing what drove them to make the leap into the unknown. Jay Chaudhry never thought he’d run a business, amass a fortune or help popularize an entire industry. Not growing up […]Read More
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