Commercial real estate in the United States is facing uncertainty, with mixed signals from traditional economic bellwethers like housing and employment contributing to the lack of clarity, and lingering fears of recession leave the predictions open-ended, according to a recent forecast by the University of California–Los Angeles Anderson School of Business, which included estimates for…
Commercial Real Estate Forecast Mixed, Office Continues to Slide, Other Sectors Thriving: UCLA Anderson
June 12, 2023
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Business & MarketsCaliforniacommercial real estateeconomyinflationInvestmentLos AngelesMarketsNew YorkNorthern Californiareal estaterecessionRegional & State NewsSan FranciscoSouthern CaliforniaState NewsUniversity of California–Los AngelesUSUS NewsUS Real Estate
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Nasdaq to Buy Financial Software Company Adenza in $10.5 Billion Cash-and-Stock Deal
Nasdaq is buying Adenza, a company that makes software used on Wall Street, for $10.5 billion in cash and stock. The acquisition from owner Thoma Bravo, an investment company, includes $5.75 billion in cash and 85.6 million shares of Nasdaq common stock. Nasdaq CEO Adena Friedman has been pushing the company further into tech, expanding…
Stock Market Today: Wall Street Rises, and S&P 500 Hits Highest Level in More Than a Year
NEW YORK—Wall Street climbed Monday ahead of a big week for central banks around the world, vaulting the S&P 500 to its highest level in more than a year. The benchmark index rose 40.07 points, or 0.9 percent, to 4,338.93 and its highest close since April 2022. The Dow Jones Industrial Average gained 189.55, or…
Closing Prices for Crude Oil, Gold, and Other Commodities (June 12)
June 12, 2023
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Benchmark U.S. crude oilBrightBusiness & MarketsgoldGold and CommoditiesinvestingMarketspersonal finance
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Benchmark U.S. crude oil for July delivery fell $3.05 to $67.12 a barrel Monday. Brent crude for August delivery fell $2.95 to $71.84 a barrel. Wholesale gasoline for July delivery fell 11 cents $2.48 a gallon. July heating oil fell 5 cents to $2.31 a gallon. July natural gas rose 2 cents to $2.27 per…
How Major US Stock Indexes Fared June 12
Wall Street closed higher ahead of a big week for central banks, carrying the S&P 500 to its highest level in more than a year. The benchmark index rose 0.9 percent Monday. The Dow added 189 points, while the Nasdaq rose 1.5 percent. Stocks have been cruising on hopes the economy may avoid a recession…
Disruptions at West Coast Ports Continue Amid Labor Negotiations
June 12, 2023
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Business & MarketsCaliforniaCompanieseconomic policieseconomyExecutive BranchInternational Longshoremen and Warehouse UnionMarketsPacific Maritime AssociationPoliticsport of Long BeachPort of Los Angelesport slowdownRegional & State NewsRegional NewsState NewsU.S. Chamber of CommerceUSUS NewsWashington state
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Business & MarketsCaliforniaCompanieseconomic policiesEconomyExecutive BranchInternational Longshoremen and Warehouse UnionMarketsPacific Maritime AssociationPoliticsport of Long BeachPort of Los Angelesport slowdownRegional & State NewsRegional NewsState NewsU.S. Chamber of CommerceUSUS NewsWashington state
Continuing labor disruptions at West Coast ports are causing concerns, as peak shipping season begins. Work slowdowns, due ongoing contract negotiations, have particularly affected cargo-processing operations at the two key California major ports of Long Beach and Los Angeles. Dockworkers belonging to the International Longshoremen and Warehouse Union (ILWU) have continued to “disrupt operations” at West Coast…
Stocks Discount Too Much Easing and Optimism
Commentary The S&P 500 Index has risen to a new high, and close to its record level. Complacency seems to be taking hold of market participants because the latest leg up has been driven entirely by multiple expansion. According to Bloomberg, the price-to-earnings (P/E) ratio of the S&P 500 has erupted back to 19.2 times,…
UBS Completes Takeover of Credit Suisse in Deal Meant to Stem Global Financial Turmoil
June 12, 2023
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Business & MarketsCompaniesCredit Suisseeconomic policieseconomyEuropeMarketsstocksSwitzerlandUBSWorld
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BERLIN—UBS said Monday that it has completed its takeover of embattled rival Credit Suisse, nearly three months after the Swiss government hastily arranged a rescue deal to combine the country’s two largest banks in a bid to safeguard Switzerland’s reputation as a global financial center and choke off market turmoil. A statement from the bank…
Karat vs. Carat: What Is the Difference?
When you hear “carat” and “karat,” you may assume they are spelled differently but mean the same thing. However, the homonyms carat and karat refer to two separate forms of measurement, with carat referring to diamonds and precious gemstones and karat relating to how smiths measure the purity of gold. Knowing the difference if you…
Wall Street Opens Higher as Investors Eye Inflation Data, Fed Verdict
U.S. stock indexes rose on Monday, with the benchmark S&P 500 and the tech-heavy Nasdaq hovering near 2023 highs as investors awaited inflation data and the Federal Reserve’s interest rate decision this week. The Dow Jones Industrial Average rose 30.02 points, or 0.09 percent, at the open to 33,906.80. The S&P 500 opened higher by…
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