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NWQWM Morning Financial Report

High inflation, strong consumer spending and a Fed that's expected to raise rates multiple times this year is shaking up things in the housing market. The 30-year fixed-rate mortgage averaged 3.92% in the week ending Feb. 17, up from the week before and higher than 2.81% a year ago, according to the Freddie Mac Primary Mortgage Survey. While rates are still near historic lows, the rising figures are putting some industry watchers on edge amid low inventories, elevated property prices and FOMO bidding wars.

 

Roku shares dropped as much as 25% in premarket trading Friday after the streaming company reported fourth-quarter revenue on Thursday evening that missed expectations and gave disappointing guidance for the first quarter. The decline is on top of the 10.3% drop Roku posted on Thursday before it published earnings.  Roku blamed the slower growth on supply chain disruptions that hit the television market. 

For a sector written off as in terminal decline, the US coal industry is raking in money. Over the past week America’s biggest coal mining companies have enjoyed profit bonanzas, notching up some of their best results in decades as they enjoy resurgent demand and soaring prices. Peabody Energy, the world’s largest private sector producer, reported its most profitable quarter on record. Arch Resources, the next biggest, posted its best results since large asset sales five years ago.

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