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Wall Street bets on better days ahead for US homebuilders

LOS ANGELES (AP) — Homebuilder stocks are on a tear as investors bet that a dearth of previously occupied homes on the market and moderating mortgage rates will boost builders’ prospects in the spring homebuying season. KB Home, PulteGroup and Tri Pointe Homes are among more than a dozen U.S. homebuilders whose stock price is up by more than 20% this year. One prominent exchange traded fund, the SPDR S&P Homebuilders ETF, is up nearly 10%. Meanwhile, the benchmark S&P 500 index is up about 7%. “We think homebuilding stocks may be looking ahead, perhaps crossing the valley from ...

Cohen joins Pennian Bank

MIFFLINTOWN – Maura Cohen joins Pennian Bank’s team as a Vice President and Director of Mortgage and Consumer Lending, bringing more than 25 years of banking experience to the team. She will be based out of the Loan Production Office in Camp Hill. Maura joins Pennian Bank after most recently being employed as a Vice President and Director of Mortgage Services and Consumer Lending at Centric Bank. “Maura’s previous leadership skills and passion to assist families on their path to homeownership will be a tremendous asset to the Bank,” said Bill Feist, EVP and Chief Lending ...

Pirates enhance PNC Park ahead of home opener

NewsBreak The long lines to get into PNC Park should move more quickly at Friday’s home opener. The Pirates have installed a new technology called Evolv at all gates, which speeds up entry to one person per second. As people walk through, it will detect anything shaped like a weapon or explosive, Pirates President Travis Williams said Tuesday during a media tour to showcase what’s new at PNC Park. “This technology gives us a better entrance into the ballpark without sacrificing any of the safety features,” Williams said. “It allows people to walk through without any ...

Investing in real estate without owning a home isn’t impossible

By Liam Gibson | Wealth of Geeks Data shows that over the past 150 years, those who’ve bought up real estate have seen a handsome return on their capital. One academic study that assessed asset classes between 1870 and 2015 across several wealthy countries, including the U.S., found that property’s rate of return was around 7% per year. This meant real estate marginally outperformed stocks, which brought in returns slightly under 7% over the same period, yet with much more significant price stability. However, with house prices skyrocketing since the pandemic, a larger portion ...

Stocks dip and yields drop on latest signs of slowing economy

By STAN CHOE The Associated Press NEW YORK — Stocks are dipping on Wall Street Wednesday, and Treasury yields are dropping following the latest signals that the U.S. economy is slowing under the weight of much higher interest rates. The S&P 500 was 0.4% lower in afternoon trading, a day after it broke a four-day winning streak. The Dow Jones Industrial Average was up 67 points, or 0.2%, to 33,466, as of 3:10 p.m. Eastern time, while the Nasdaq composite was 1.3% lower. The moves were sharper in the bond market, where yields sank following weaker-than-expected reports on the ...

Wall Street ends lower after data suggests economy slowing

NEW YORK (AP) — Stocks are falling on Wall Street Tuesday after two reports on the economy came in weaker than expected. The S&P 500 was 0.7% lower in afternoon trading. The Dow Jones Industrial Average was down by 237 points, or 0.7%, at 33,360, as of 1:44 p.m. Eastern time, while the Nasdaq composite was 0.6% lower. Investors are still split on whether the U.S. economy will fall into a recession and how badly corporate profits are set to drop. The biggest question remains what the Federal Reserve will do next with interest rates after hiking them furiously over the last year ...