Wall Street's major stock indexes rose yesterday as a softer stance by U.S. policymakers on China tariffs powered a rebound from last week's sell-off, though stocks pared the large gains we saw earlier in the day in the final minutes of the trading session.
And just when you thought the housing market couldn’t get any hotter, the prospect of rising mortgage rates had buyers even more frenzied in March, according to a report out from Credit Suisse. The monthly survey of real estate agents showed that an index of buyer traffic around the country rose substantially. Agents’ commentary “remains centered on pent-up demand, especially in more affordable price points, given the persistent inventory shortage.” The threat of rising mortgage rates is also starting to be felt. Still, as one Seattle real estate agent put it, “Rate increases are causing a sense of urgency, but there is not enough inventory to sell.”
Today is a big day for Facebook and the CEO Mark Zuckerberg who will begin a 2 days of congressional hearings about Facebook user data being improperly used by a political consultancy during the 2016 election. One of the options congress is looking as is whether Facebook should be regulated. Shares of Facebook are down over 15% since the news arose.