(Reuters) – Homebuilder and mortgage banking company NVR Inc beat analysts’ expectations for first-quarter profit on Tuesday, helped by higher home prices. U.S. home prices have remained elevated as a shortage of homebuilding supplies limited the availability of new homes, helping counter lower demand from a jump in mortgage rates following the Federal Reserve’s aggressive…
WASHINGTON (Reuters) – Sales of new U.S. single-family homes jumped to a one-year high in March, likely as a retreat in mortgage rates boosted demand. New home sales surged 9.6% to a seasonally adjusted annual rate of 683,000 units last month, the highest level since March 2022, the Commerce Department said on Tuesday. February’s sales…
By Arunima Kumar (Reuters) – North American gold miners Newmont Corp and Barrick Gold Corp are expected to post lower quarterly profits as a fall in production and higher costs offset gains from strong prices of the precious metal. Miners grappled with extreme weather, including heavy rainfalls in certain parts of the world, lower grade…
By Ananya Mariam Rajesh (Reuters) – PepsiCo Inc raised its annual forecasts on Tuesday after price hikes undertaken to offset higher costs and steady demand helped the soda and snack giant beat first-quarter results. The results pointed to a resilient consumer and followed similar quarterly performances by rival Coca-Cola and Nestle. PepsiCo’s shares rose 2%…
By Rajesh Kumar Singh and Abhijith Ganapavaram CHICAGO (Reuters) -General Electric Co on Tuesday raised the low end of its full-year profit forecast after quarterly profit topped Wall Street estimates as strong air travel demand drove up sales of jet engine spare parts and services. Rising interest rates, high inflation, mounting job losses and turmoil…
(Reuters) – U.S. consumer confidence fell to a nine-month low in April led by a darkening outlook that augers a recession beginning in the near future, a survey showed on Tuesday. The Conference Board said its consumer confidence index fell to 101.3 – the lowest since July 2022 – from a revised 104.0 in March….
WASHINGTON (Reuters) – U.S. President Joe Biden on Tuesday formally launched his 2024 re-election bid, promising protection against right-wing extremists and highlighting the Jan. 6, 2021, attack on the U.S. Capitol by supporters of then-President Donald Trump. Vowing to “finish this job” of leading America, Biden also vowed to fight efforts to limit women’s healthcare,…
By Joseph White and Paul Lienert DETROIT (Reuters) -General Motors Co on Tuesday lifted its full-year profit and cash flow forecasts, citing stronger-than-expected demand and higher prices, but executives cautioned the price gains over 2022 won’t last as the year goes on. After better-than-expected first quarter results, the No. 1 U.S. automaker said it expects…
WASHINGTON (Reuters) – U.S. single-family home prices increased in February after seven straight monthly declines likely as a dip in mortgage rates at the start of the year fueled demand, but the overall trend continued to point to a slowdown in house price inflation. The S&P CoreLogic Case-Shiller national home price index, covering all nine…
By Liz Hampton and Arunima Kumar (Reuters) – Oilfield firm Halliburton Co on Tuesday reported a first-quarter profit that topped Wall Street estimates as a tight services and equipment market has helped drive demand and improve its pricing. Global oil futures are currently trading above $80 a barrel, down about 20% from a year ago…
