Posted in home

Home Sales Contracts Hit Record With Low Rates Fueling Rally

(Bloomberg) — U.S. pending home sales rose more than expected in August, reaching the highest level on record as low mortgage rates fuel a housing rally.

The National Association of Realtors’ index of contract signings to buy previously owned homes surged 8.8% from a month earlier, according to data released Wednesday. Analysts had estimated 3.1%. Compared with 2019, pending sales jumped 24%.

“Tremendously low mortgage rates have again helped pending home sales climb,” said Lawrence Yun, NAR’s chief economist.



chart: Pending home sales reach a record in data going back to 2001


© Bloomberg
Pending home sales reach a record in data going back to 2001

It was the fourth straight monthly gain for the index, which is now at the highest level in records dating back to 2001. The index has surged since taking a hit when the pandemic froze the housing market in March.

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Read more: U.S. Existing-Home Sales Increase to Fastest Pace Since 2006

Record-low mortgage rates have

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Posted in home

Stay-at-Home Tech Stocks Rally as Reopening Plays Slump

Tech stocks are holding up relatively well during today’s market selloff, and quite a few of the names seen as winners in the current environment are actually rallying.



a street sign in front of a building: Stay-at-Home Tech Stocks Rally as Reopening Plays Slump


© TheStreet
Stay-at-Home Tech Stocks Rally as Reopening Plays Slump

While the Dow and the S&P 500 at this writing are down 2.8% and 2.2% respectively, the Nasdaq Composite is down 1.3%.

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And the Nasdaq 100 index, the weighting of which skews heavily toward big-cap tech companies, is down just 0.9%.

Worries about a recent spike in global covid-19 cases and related concern about the virus’s economic impact in the coming months are apparently weighing on equity markets today.

Against that backdrop, many investors are once more treating companies whose products and services help consumers work, learn and/or entertain themselves remotely like safe havens — despite the high valuations many of them carry.

Zoom Video Communications is up 6.1%, Fastly

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Cowboys’ rally stuns Falcons 40-39 in McCarthy’s home debut

AP
Published 3:57 p.m. CT Sept. 20, 2020 | Updated 5:40 p.m. CT Sept. 20, 2020

ARLINGTON, Texas (AP) — One gamble after another failed for coach Mike McCarthy in his home debut with the Dallas Cowboys.

A successful onside kick made them all moot.

Greg Zuerlein kicked a 46-yard field goal as time expired, and the Cowboys overcame four fumbles and a 20-point deficit in the first quarter to beat the Atlanta Falcons 40-39 on Sunday.

The Falcons were still up 15 in the fourth quarter before Dak Prescott became the first quarterback in NFL history to pass for more than 400 yards and rush for three touchdowns in the same game, the third TD getting Dallas (1-1) within two.

Zuerlein did not use a tee for his slow-rolling onside attempt, a rare tactic. But even more curious was Atlanta’s players surrounding the ball when they could have recovered

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