U.S. Home Sales Fell in August for Fifth Time in Six Months
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What is the main topic discussed in this episode?
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Here's your midday brief for Thursday, September 19th. I'm J.R.
How did U.S. stocks react after the Federal Reserve cut interest rates?
Whelan for The Wall Street Journal. U.S. stocks surged today after the Federal Reserve cut interest rates by half a percentage point. In midday trading, the Dow Jones Industrials were up about 1%, while the S&P 500 had risen more than 1.5%, and the Nasdaq was up nearly 3%.
Why did the National Association of Realtors report a fifth decline in home sales?
The National Association of Realtors said U.S. home sales fell 2.5 percent in August from the month before, the fifth time sales have declined over the past six months, as the recent decline in mortgage rates failed to offset home prices that remain near record highs. Mortgage rates have come down steadily from the spring to 6.2 percent last week.
How have mortgage rate trends influenced buyer behavior in August?
According to Freddie Mac, that's the lowest level in more than a year. But with high housing prices and the inventory of homes for sale still lower than normal, many buyers are waiting for rates to fall further. News Corp., owner of the journal, also operates Realtor.com, under license from NAR.
What happened in Lebanon after Israel launched airstrikes on Hezbollah?
Israel launched a wave of airstrikes against Hezbollah targets in Lebanon, as the militant group's leaders said the attacks on its members amounted to a declaration of war. Those attacks, that caused pagers and walkie-talkies carried by thousands of the group's members to explode, killed 37 people and injured nearly 3,000. And the Bank of England left its key interest rate unchanged, taking a more cautious approach than the Federal Reserve in cutting rates yesterday to tame inflation. But while it opted to hold rates at 5%, the UK's central bank said it is likely to follow up on an August cut over the coming months. We'll have more coverage of the day's news on the WSJ's What's News podcast.
How did the Bank of England's decision differ from the Fed and what does it signal?
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Deal replaces fragmented payroll vendors with one global system. No third parties. Hire, manage, and pay teams in 150 plus countries. Operate like a local. Everywhere. Visit D-E-E-L dot com slash W-S-J.
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Chapters
6 chapters
1
What is the main topic discussed in this episode?
0:00–0:36
2
How did U.S. stocks react after the Federal Reserve cut interest rates?
0:36–0:53
3
Why did the National Association of Realtors report a fifth decline in home sales?
0:53–1:13
4
How have mortgage rate trends influenced buyer behavior in August?
1:13–1:31
5
What happened in Lebanon after Israel launched airstrikes on Hezbollah?
1:31–2:11
6
How did the Bank of England's decision differ from the Fed and what does it signal?
2:11–2:31
Speakers
2 identifiedMore from WSJ Your Money Briefing
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