Business

A record-breaking Powerball jackpot worth $1.765 billion has been claimed by a group of winners in Frazier Park, California. The winning ticket was purchased at Midway Market in Kern County, making Theodorus Struyck the lucky representative of the group. The 65-year-old Struyck, who lives near the store, collected the massive prize, which is the second-largest in Powerball history. In addition …

Mortgage Rates Fall for Second Week, But Affordability Concerns Persist According to the latest Primary Mortgage Market Survey from Freddie Mac, mortgage rates have dropped for the second consecutive week. The average rate on a 30-year fixed mortgage fell to 6.74% from 6.88% the previous week, while the average rate on a 15-year fixed mortgage decreased to 6.16% from 6.22%. …

Mortgage Rates Drop Below 7% Leading to Surge in Home-Purchase Applications In exciting news for prospective homebuyers, mortgage rates have fallen below 7% for the first time in over a month. The Mortgage Bankers Association reported that the index of mortgage applications jumped by 7.1% for the week ending March 8. The average rate on the popular 30-year loan dropped …

Stocks in the US market showed slight gains today after the release of the latest inflation data. The market initially reacted negatively to the news, but confidence in the Federal Reserve’s ability to cut interest rates helped to boost equities. Investors remained cautious as bonds fell ahead of upcoming auctions and the issuance of new corporate bonds. Despite this, the …

JPMorgan CEO Jamie Dimon Testifies at Senate Committee Hearing Jamie Dimon, CEO of JPMorgan Chase, testified at a Senate committee hearing on Wall Street firms, urging the Federal Reserve to hold off on cutting interest rates. Dimon cited concerns about maintaining inflation-fighting credibility in the face of market predictions of an 84% chance of a rate cut in June and …

Nervousness Grips U.S. Equity Options Market Ahead of Inflation Data Release Traders in the U.S. equity options market are feeling jittery as they wait for the release of inflation data on Tuesday. Options on the S&P 500-tracking SPDR S&P 500 Trust ETF are indicating a potential 1% swing in the fund’s shares in either direction by the end of trading. …

OpenAI’s CEO Sam Altman Returns to Board of Directors After Investigation OpenAI’s CEO, Sam Altman, will be returning to the company’s board of directors following an investigation conducted by law firm WilmerHale. The investigation revealed that Altman’s conduct last year did not warrant his removal, but rather the decision to fire him was due to a breakdown in the relationship …

Rivian Introduces Treehouse Rooftop Tent Accessory with Built-In Movie Projector Rivian, the electric vehicle (EV) company, has recently unveiled its latest accessory for outdoor enthusiasts – the Treehouse rooftop tent. This innovative accessory includes a movie projector that is powered by the vehicle itself, providing a unique camping experience for Rivian owners. Unlike the Yakima tent designed for the R1T …

Stocks closed lower on Friday with the S&P 500, Dow Jones Industrial Average, and Nasdaq Composite all finishing the week in negative territory. Tech stocks took a hit as Nvidia shares fell over 5%, offsetting gains in other sectors. Despite the stock market downturn, the US economy showed some positive signs as February’s non-farm payroll report revealed the addition of …

New York Community Bank Receives $1 Billion Cash Infusion Led by Steven Mnuchin New York Community Bank has announced a $1 billion cash infusion led by former Treasury Secretary Steven Mnuchin, in an effort to strengthen the struggling lender’s balance sheet. The new management team reassured investors after the recent announcement, which included a dividend cut to one cent per …