Real Estate Daily News Buzz July 19, 2017

image_pdfimage_print
Reserve-White-house-dome
Real Estate Daily News Buzz July 19, 2017

Real Estate Daily News Buzz is designed to give news snippets to readers that our (yet to be award winning) editors thought you could use to start your day. They come from various business perspectives, real estate, government, the Fed, local news, and the stock markets to save you time. Here you will find the headlines and what the news buzz of the day will be.

Tuesday, the S&P 500 rose 1.47 points, or 0.1 percent, to 2,460.61, just above the record it set Friday. The Dow Jones industrial average fell 54.99 points, or 0.3 percent, to 21,574.73. The Nasdaq composite climbed 29.87 points, or 0.5 percent.

Benchmark U.S. crude added 38 cents to $46.40 a barrel in New York. Brent crude, the international standard, rose 42 cents to $48.84 a barrel in London. Wholesale gasoline rose 2 cents to $1.58 a gallon. Heating oil added 1 cent to $1.51 a gallon. Natural gas added 7 cents to $3.09 per 1,000 cubic feet.

Wall Street’s Goldman Sachs moves quietly into Main Street — Goldman Sachs, the most Wall Street of Wall Street firms, really wants people to start thinking about it the next time they need to open a bank account or borrow money. It’s paying above-average rates on online savings accounts and offering that stodgiest of investments, good old-fashioned CDs. Personal loans are available through its Marcus by Goldman Sachs brand, which is named after one of the firm’s founders.

US-China trade rifts resurface even after friendly summit — Three months after President Donald Trump and his Chinese counterpart, Xi Jinping, shared chocolate cake at an amiable summit in Florida, tensions between the world’s two biggest economies are flaring again. The Trump administration is considering slapping tariffs on steel imports, a step that risks igniting a trade war. For the United States, it’s a perilous option to address a problem caused largely by China’s overproduction of steel.

‘Let Obamacare fail,’ Trump declares as GOP plan collapses — The latest Republican health care rewrite collapsed Tuesday, and President Donald Trump declared it’s time to simply “let Obamacare fail.” The failure was a stunning failure for the president, for Republican leader

Insurers slump as health care bill fails; tech stocks rise — Stocks finish mixed; banks slide, and health insurers fall after a Republican-backed health care bill fails. The S&P 500 and Nasdaq finish at record highs as technology and consumer-focused companies climb

Ready-to-cook meals from Amazon in bid to expand groceries — Amazon has begun selling ready-to-cook meal packages for busy households in a bid to expand its groceries business. Amazon-branded meal kits come with raw ingredients needed to prepare such meals as chicken tikka masala and falafel patties. They are currently sold only in selected markets, including Amazon’s headquarters of Seattle. The development comes as Amazon is also buying the organic grocer Whole Foods for $13.7 billion.

China users report WhatsApp disruption amid censorship fears — Users of WhatsApp in China are reporting widespread service disruptions amid fears that the messaging service may be blocked at least partially by Chinese authorities. WhatsApp users on the mainland reported that the messaging app was inaccessible without virtual private network software used to circumvent China’s censorship apparatus, known colloquially as The Great Firewall.

Chipotle closes Virginia store after reports of illness — Chipotle has temporarily closed a restaurant in a Washington, D.C., suburb after reports that customers had become ill. The news sent its shares down more than 4 percent as skittish investors worried about the chain’s past food scares. The company says it plans to reopen the location in Sterling, Virginia, after a “complete sanitization” later today, and that its food is safe to eat.

UnitedHealth 2Q profit surges as ACA participation shrinks — UnitedHealth Group’s second-quarter earnings soared as the nation’s largest insurer dove deeper into government-funded health coverage like Medicare and Medicaid and continued to distance itself from the turbulent Affordable Care Act insurance exchanges. The insurer also said Tuesday that it drew $1.52 billion in operating earnings from its rapidly growing Optum business, which doesn’t sell health insurance.

Daimler to recall 3 million vehicles to ease diesel doubts — German automaker Daimler says it is voluntarily recalling 3 million diesel cars in Europe to improve their emissions performance. The Stuttgart-based company, which makes Mercedes-Benz luxury cars, says it is taking the step to reassure drivers and strengthen confidence in diesel technology.

European Central Bank’s Draghi to tiptoe to stimulus exit — European Central Bank head Mario Draghi is likely to tread softly on Thursday as the bank inches toward bringing an end to its monetary stimulus efforts. Analysts think it’s a near-certainty that the ECB, the monetary authority for the European Union’s 19-country euro currency union, will start scaling back its 60 billion euros ($69 billion) in monthly bond purchases after their earliest termination date at the end of the year.