Market Update: We break down the business implications, market impact, and expert insights related to Market Update: Morning Business Report: Economy, mortgage rates, markets, new weight-loss drug 41NBC News – Full Analysis.
Wall Street is closely watching the President’s State of the Union address, with the economy and affordability expected to take center stage.
(LILAMAX)- Wall Street is closely watching the President’s State of the Union address, with the economy and affordability expected to take center stage.
Last year, President Trump pushed through historic deregulation and implemented a pro-business tax policy. However, questions remain about tariffs and housing affordability as Americans continue to navigate economic uncertainty.
Mortgage rates are continuing to fall. The average rate on a 30-year fixed mortgage dropped to 5.99% on Monday, according to Mortgage News Daily. As rates decline, refinancing activity is surging, with applications up roughly 130% compared to this time last year.
It was a rough day on Wall Street, with stocks selling off amid tariff turmoil and concerns about artificial intelligence displacing large portions of the workforce. The Dow Jones Industrial Average fell more than 800 points.
Violence in Mexico is also impacting trade, air freight, ports and trucking. Mexico remains one of the top trading partners of the United States. Products from affected regions include tomatoes, avocados, berries and car parts — all of which could face delays.
Meanwhile, Eli Lilly has launched a new version of its blockbuster weight-loss drug, offering a month’s worth of doses in a single pen device. Prices start at $299 per month for the lowest dose level. The multi-dose device, called KwikPen, is available to cash-paying patients through the company’s direct-to-consumer website, LillyDirect.