Demand for mortgages surges as interest rates fall to lowest in months

The Good Brigade | Digital vision | Getty Images Consumers have returned from the holiday season to find mortgage rates at their lowest level since September, and they are reacting dramatically. The volume of mortgage applications jumped nearly 28% last week from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. The … Read more

Credit Suisse CEO says outflows have decreased ‘very significantly’ as review progresses

Switzerland’s second largest bank, Credit Suisse, is seen here next to a Swiss flag in downtown Geneva. Fabrice Cofrini | AFP | Getty Images Swiss credit is seeing a sharp reduction in customer outflows as the struggling Swiss lender moves forward with its major strategic overhaul, new CEO Ulrich Koerner told CNBC on Wednesday. In … Read more

Fund manager names 2 stocks to play semiconductor sector

Semiconductor stocks are improving after a difficult 2022. The iShares Semiconductor ETF is up 11% this year, in stark contrast to the index’s 35.8% decline in 2022. The once-booming sector saw a slowdown last year, given declining demand for consumer products such as smartphones and personal computers; supply chain disruptions; and a broad sense of … Read more

China’s growth in 2023 largely depends on the consumer: KraneShares

The Bund in Shanghai, China on October 17, 2022. China’s gross domestic product grew 3% in 2022, less than half the rate of 2021. Qilai Shen | Bloomberg | Getty Images China’s economy looks poised for a rebound in 2023, but a lot hinges on one variable – the consumer, investment management firm KraneShares said. … Read more

UK inflation rate drops for second consecutive month to 10.5%

michelle mitha | iStock/360 | Getty Images LONDON — UK inflation eased during the month, in line with economists’ expectations, as fuel, clothing and leisure costs drove the index lower. Inflation slowed to 10.5% in December from 10.7% in November, Britain’s Office for National Statistics said on Wednesday. A panel of economists polled by Reuters … Read more

UK inflation rate drops for second consecutive month to 10.5%

michelle mitha | iStock/360 | Getty Images LONDON — UK inflation eased during the month, in line with economists’ expectations, as fuel, clothing and leisure costs drove the index lower. Inflation slowed to 10.5% in December from 10.7% in November, Britain’s Office for National Statistics said on Wednesday. A panel of economists polled by Reuters … Read more

Thinking of going back to technology? Investor wary of 2 Big Tech stocks

Investors turned to tech stocks, with the tech-heavy Nasdaq topping Wall Street’s three major indexes so far this year, up more than 6%. But fund manager Trent Masters of Alphinity Investment Management isn’t convinced — and told CNBC Pro Talks last week which two Big Tech stocks might be worth avoiding for now. Masters manages … Read more

$1.4 Trillion Wipeout Hits Crypto Industry at WEF

Along the Davos promenade in 2023 there were fewer crypto companies than in previous years after the stock market crash. Circle, the company behind the USDC stablecoin, was one of the few present. Arjun Kharpal | CNBC DAVOS, Switzerland – Over the past few years at the World Economic Forum in Davos, Switzerland, the number … Read more

Japanese yen weakens as Bank of Japan makes no change to yield curve range

Morning commuters outside the Bank of Japan (BOJ) headquarters in Tokyo, Japan, Monday, Jan. 16, 2023. The Bank of Japan made no changes to its yield curve control policy on Wednesday. Bloomberg | Bloomberg | Getty Images The Japanese currency weakened against the US dollar after the Bank of Japan surprised the markets by keeping … Read more

Asia-Pacific stocks struggle to orient ahead of BoJ rate decision

Gambling shares jump after China grants licensing approvals Hong Kong-listed gaming stocks rose after China granted licensing approvals for 88 games, including NetEase, Tencent Holdings and miHoYo, marking a further easing of a crackdown on gaming in Beijing. Shares of NetEase jumped as much as 6.81% in early trade, hitting its highest level in more … Read more