Consumer sentiment falls to second-lowest level on record as inflation expectations rise

New York City’s rent-stabilized housing stock has an increasingly serious economic problem.  For years, the operating expenses of these buildings have been rising much faster than their revenues. Insurance premiums, real estate taxes, water and sewer charges, fuel, labor, repairs and maintenance have all increased significantly, while the ability of owners to increase rents has…

American drivers just paid the highest Labor Day gasoline prices ever. Dwindling global refinery capacity is threatening to push prices higher.

PulteGroup saw earnings fall again in the second quarter, reflecting a housing market constrained by high mortgage rates and affordability issues. Processing Content The homebuilder posted net income of $472 million, or $2.48 per share, down from $608 million, or $3.03 per share, in the second quarter of last year but still more than analysts…

Buyer beware: There’s no shortcut for getting proper financial advice.

Processing Content Key insight: The FDIC is adopting a two-phased process, allowing new banks that satisfy requirements to receive an interim approval within 120 days of applying. Expert quote: “A healthy pipeline of new entrants is critical to the long-term vitality of the banking sector, particularly for community banks.” —Travis Hill, FDIC chair  Forward look:…

The S&P 500 Index ($SPX) (SPY) is up by +0.58% today, the Dow Jones Industrial Average ($DOWI) (DIA) is up by +0.55%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up by +0.07%.  E-mini S&P futures (ESU26) are up +0.61%, and September E-mini Nasdaq futures (NQU26) are up +0.05%. Stock indices are moving higher today, with the Nasdaq 100…