Mohawk Industries earnings in focus as flooring demand wavers

The 15-year fixed-rate mortgage, a key gauge of refinance appetite, also moved higher, averaging 6.04% from 5.98% the prior week. A year ago, that rate stood at 5.60%. Bond market forces drive the rate surge The catalyst behind the move is a global bond sell-off tied to a convergence of pressures: renewed US-Iran hostilities sending oil prices…

Goldman Sachs aims to ensure that new artificial intelligence tools don’t lead to a loss of knowledge within the institution, Chris Churchman, head of the company’s digital platform for institutional clients, Marquee, said, CNBC reported Monday (Aug. 24). Speaking during an episode of Goldman Sachs’ podcast, Exchanges, Churchman said an overreliance on AI could lead…

A close up view of a bottle of Oi Ocha unsweetened green tea with an image of Japanese professional baseball pitcher and designated hitter for the Los Angeles Dodgers, Shohei Ohtani. Ohtani is a Global Ambassador of ITO EN’s green tea brand, ‘Oi Ocha’. (Photo by Erica Denhoff/Icon Sportswire via Getty Images) Icon Sportswire |…

The housing market is gaining slight momentum as the summer winds down, but demand remains subdued overall.  U.S. pending home sales edged up 0.4% week over week during the four weeks ending August 9 on a seasonally adjusted basis, offering a small boost to this summer’s sluggish housing market. Mortgage-purchase applications rose 3% week over…

Key insight: Reports on retail sales and consumer confidence paint a picture of an economy weakening under the pressure of high prices.  Expert quote: “The economy is highly dependent on consumer spending – close to 70% of GDP can be traced back to it – so it’s a case of be careful what you wish…