Home sales see broad nationwide drop
Pending home sales declined in February for the fourth month in a row, as would-be buyers grapple with fewer, pricier homes to choose from and rising interest rates.
Contract signings dropped by 4.1% last month from January and were down 5.4% year over year with all four regions in the US seeing a decline, according to the latest data from the National Association of Realtors.
Bed Bath & Beyond bows to shareholder pressure
|BBBY||$ 22.10||+0.08||+ 0.36%|
Chewy Founder Ryan Cohen, who also heads GameStop and RC Ventures, forced the hand of the home retailer after calling out CEO Mark Tritton for poor leadership and an underperforming stock. His firm owns 9.8% of company shares.
Bed Bath & Beyond Inc. Announces Cooperation Agreement with Ryan Cohen Appoints Three New Independent Directors to the Board with Finance and Strategy Experience
Announces a Four-Member Committee of the Board Focused on Exploring Alternatives to Unlock Greater Value from buybuy BABY
Biden Plans Saturday Address on Russia, Ukraine
“He will give a major address tomorrow that will speak to the stakes of this moment. The urgency of the challenge that lies ahead, what the conflict in Ukraine means for the world and why it is so important that the free world sustain unity and resolve in the face of Russian aggression. He’ll also talk about the context and history of this conflict and where he sees it going from here “said National Security Advisor Jake Sullivan.
Yields Climb to Near Three Year Highs
10-Yr Treasury Yield Tops 2.5%
2-Yr Treasury Yield Above 2.3%
Highest Since May 2019
Stocks reverse gains, oil cuts losses
|I: DJI||$ 34,668.37||-39.57||-0.11%|
|I: COMP||$ 14,030.18||-161.66||-1.14%|
US-EU use wet gas as tool to cripple Putin
|YOUNG||$ 18.97||+0.94||+ 5.21%|
Stocks inch towards weekly wins
|I: DJI||$ 34,772.63||+64.69||+ 0.19%|
|SP500||$ 4,523.10||+2.94||+ 0.07%|
|I: COMP||$ 14,162.66||-29.18||-0.21%|
Pulitzer Prize Winner Yergin: Shale key for US economy
Bitcoin’s upward momentum continues
Marijuana stocks jump on bill passage
|TLRY||$ 6.97||+1.25||+ 21.85%|
|SNDL||$ 0.75||+0.14||+ 23.10%|
|CRON||$ 3.99||+0.32||+ 8.72%|
|ACB||$ 4.04||+0.40||+ 10.99%|
Senators Dianne Feinstein (D-Calif.), Chuck Grassley (R-Iowa) and Brian Schatz (D-Hawaii) today applauded Senate passage of their legislation to expand scientific and medical research on marijuana and its compounds, including cannabidiol.
“Current rules and regulations make it hard for researchers to study how marijuana and marijuana-derived medications can best be used to treat various conditions,” said Senator Feinstein. “This important legislation will cut the red tape around the research process, helping get FDA-approved, marijuana-derived medications safely to patients.”
Futures at a glance
US equity futures traded slightly higher after a previous day of gains on Wall Street.
Meanwhile, US West Texas Intermediate (WTI) crude futures fell $ 1.69 to $ 110.65 a barrel, having dropped 2.3% in the previous session. Brent futures fell $ 1.17 to $ 117.87 a barrel, after sliding 2.1% on Thursday.
Additionally, the University of Michigan’s final index of consumer sentiment for March and the National Association of Realtors’ index of pending home sales for February will be released Friday.
Stock futures trade cautiously to end the week
US equity futures traded modestly lower after Western governments promised new sanctions on Russia. Continue reading
Oil prices trade lower as US-EU reach LNG deal
Oil prices traded lower on Friday morning as the European Union and United States unveiled a deal to supply Europe with more US liquefied natural gas. Continue reading
Gas prices edge up
The average price for a gallon of gasoline in the US edged up slightly on Friday to $ 4,243, according to the latest numbers from AAA. The price on Thursday was $ 4,236.
The previous record high was $ 4.33, set on Friday March 11, 2022.
Bitcoin price trades around $ 44,000
Bitcoin was around $ 44,000 after trading higher in two of the last three days heading into Friday. The cryptocurrency is trading up more than 5% month-to-date, but down more than 5% year-to-date. Continue reading