Rates and prices push U S existing home sales to 30 year low
The National Association of Realtors reports 2023 existing home sales at 4.09 million, an 18.7 percent drop from 2022, the weakest since 1995. The median home price rose to 389800, while mortgage rates climbed to 7.79 percent by October, dampening buyers.
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Japan lands the Moon with SLIM probe in historic milestone
Japan becomes the fifth nation to reach the Moon as the SLIM lander makes a soft touch down near the lunar surface. Officials caution over pinpoint landing certainty and note the solar panel failure may limit activity. Rovers transmit data while battery life remains short.
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Wayfair and Macy's announce large scale layoffs and store closures
Wayfair will cut about 1,650 jobs about 13 percent of global staff as it restructures to rebuild with modified leveling per Niraj Shah. Macy's plans layoffs about 2,350 employees a 3.5 percent reduction and will close five stores in Arlington Ballston Virginia San Leandro Hawaii Simi Valley Florida.
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Wall Street returns to record heights on Friday
Wall Street climbed to new records as the S&P 500 rose 1.2 percent to 4,839.81 erasing early 2022 gains. The rally comes despite high inflation and fears of recession, with strong jobs data and steady growth keeping the market optimistic.
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