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By Staff Reporters
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EasyJet’s chief operating officer Peter Bellew has resigned after a period where the airline has come under pressure to reduce flight disruption.
Wirecard’s former head of accounting has admitted forging documents, after coming under pressure to provide evidence of transactions during a special audit by KPMG.
Bank of America [BAC] lost 30% in the first half of 2022, which is more than the S&P 500’s decline of 20.3% and other major banks like JPMorgan’s [JPM] 28.9% and Citigroup’s [C] 23.8%.
The rapid climb in mortgage rates finally paused but elevated borrowing costs continue to stifle price-rattled home buyers. Rates for the popular 30-year fixed home loan slid to 5.70% last week, down from 5.81% the week prior, according to Freddie Mac. Still, rates have climbed 72 basis points within a three-week period and are nearly 2.5 percentage points higher than at the start of the year.
Domestic Stocks could have more room to fall, even after the recent sell-off, according to Goldman Sachs. For now, equities are only pricing in a mild recession as valuations drop amid rising rates and a more hawkish Fed. “Profit margins across markets are still elevated and some normalization would result in negative earnings revisions.”
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Filed under: Alerts Sign-Up, Glossary Terms, Investing | Tagged: banks, domestic stocks, EasyJet, home prices, mortgage rates, Wirecard | Leave a comment »
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