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[ad_1] Enforcement Directorate (ED) on Friday said it has issued a show-cause notice to cryptocurrency exchange WazirX for foreign exchange management violations. [ad_2] Source link

[ad_1] Each week, Cut the Crap Investing founder Dale Roberts shares financial headlines and offers context for Canadian investors. Meme stocks: They’re back… I thought new investors would get tired of losing money. But I guess not.  Crowd co-ordinated investing in companies specifically to drive the stock prices higher is back. Of course, Reddit’s army of investors gave us one of the more interesting stories of early 2021. With the GameStop washout behind them, they continue to meet in a forum called WallStreetBets (or WSB to insiders).  Now they’ve got a taste for fast food by way of Wendy’s—the takeout giant’s “tendies” in particular, they believe, are both a menu item and an investment opp. That CNN Money post explains the double entendre:  “…some Reddit users also were quick to point out the delicious irony of the fact that Wendy’s investors were generating big “tendies” — a term that is both WSB code for trading profits as well as a nickname for Wendy’s chicken nuggets.” What could go wrong? Chicken tendies mean juicy profits. It’s built right into the recipe.  One problem might be that Wendy’s does not make a lot of money at today’s stock prices. According to Seeking Alpha, even the forward P/E ratio (based on how much money they’re forecast to make) is over 39. That’s more expensive than the U.S. stock market as measured by the S&P 500.  Perhaps the only thing that will help current investors is more investors ordering up Wendy’s to drive the price higher. I guess that’s the general idea.  It’s known as a pump-and-dump trade. And it will likely end poorly for the investors left holding the bag.  It’s not the end for GameStop GameStop, a video game retailer that has seen better days, was the Redditors’ original target. And they are playing at it again.  GameStop shares were recently driven back to the highs reached in the glory days of February 2021. Here’s a chart courtesy of Seeking Alpha.  Source: Seeking Alpha The company reported earnings this week. Well, what they reported is that they don’t make money. From the GameStop earnings report as per Seeking Alpha:  “Net loss of ($66.8) million, or ($1.01) per diluted share as compared to net loss of ($165.7) million, or ($2.57) per diluted share, in the fiscal 2020 first quarter. Adjusted net loss of ($29.4) million or ($0.45) per diluted share, compared to adjusted net loss of ($157.6) million or ($2.44) per diluted share in the fiscal 2020 first quarter…” A stock up almost 1,500% in one year, for a company that does not make any money?  On Wednesday, June 10, after digesting earnings, GameStop is down over 14% into Thursday as I write this post.  And I thought that traders and investors might take the Summer off. Perhaps they need more distractions?  I’ll stick to investing in companies that make a lot of money and often pay some attractive dividends.  U.S. tech is expensive, but not 2000 expensive Along with the fear of inflation, a leading headline grabber in 2020 and into 2021 has been the expensive U.S. stock market, and especially the tech sector. Investors have been willing to pay up for those mega tech leaders such as Apple, Alphabet, Microsoft, Netflix and Google. Those big techs have achieved status akin to utilities stocks, and they combine the same kind of growth history and growth potential. That’s an appealing combination, and investors have driven those stocks to expensive levels.  A report from Bank or America analyst Savit Subramanian suggests the U.S. tech sector will no longer have a monopoly on growth moving forward through 2021 and perhaps into 2022.  New @globeinvestor newsletter: "It’s not 2000 again, but technology stocks are looking very unattractive" https://t.co/kjBJhTWBlG pic.twitter.com/ckqkztHQLD — Scott Barlow (@SBarlow_ROB) June 8, 2021   Scott Barlow offered this from Subramanian’s report: “…valuations are not attractive relative to the S&P 500 as a whole. Earnings forecasts for technology and communications services are lower than the benchmark—energy, industrials, consumer discretionary, materials and financials are all expected to grow profits more quickly—and yet technology stocks trade at a premium valuation to the index.” So perhaps moving forward, tech is not where they keep the growth in the U.S. market. There are more current earnings and more growth potential, according to analysts, in the total market outside of the tech darlings.  Value stocks (greater current earnings) have been outperforming the market for many months.   Also, the report suggests that while the tech sector is expensive, is not 1999 dot-com crash era expensive. That high valuation level in the late 90’s led to the lost decade for U.S. stocks.  From Barlow in The Globe and Mail…  “In Monday’s “The U.S. equity investor’s guide to Tech stocks” research report, Ms. Subramanian noted that technology stocks are now less obscenely valued than in 2000. Then, the forward price-to-earnings ratio for technology stocks and communications services stocks was 53 times and 34.1 times respectively. Now, it’s 25.0 and 22.5.” That might provide a floor under any kind of tech correction or tech crash that might occur.  For index investors, that potential broad strength across many sectors is good news. It would be more than welcome if companies and sectors (other than tech) took the reins for a while.  For those investors who select their own stocks and ETFs, there might be an opportunity to swing away from tech or build positions and overweight to those other sectors.  The inflation watch: big numbers We’re watching inflation on both sides of the border, and around the globe. On Thursday morning, June 10, we had the CPI (consumer price index) report in the U.S. for the month of May.  From that government site link…  “The CPI increased 0.6% in May on a seasonally adjusted basis after rising 0.8% in April, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 5.0% before seasonal adjustment; this was the largest 12-month increase since a 5.4% increase for

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[ad_1] Wall Street opens slightly higher as inflation fears ebb [ad_2] Source link

[ad_1] Dharmendra Pradhan alleged that Delhi CM is fearing and avoiding transparency as ‘One Nation-One Ration Card’ is a data-driven, transparent technology for ensuring nationwide food security. [ad_2] Source link

[ad_1] Mortgage credit availability increased by 1.4% in May – a sign that volume-hungry lenders continued to loosen credit standards in a highly competitive market, according to Thursday data from the Mortgage Bankers Association. MBA’s Mortgage Credit Availability Index (MCAI) which uses 100 as a benchmark — increased to 129.9 in May. A decline in the MCAI suggests that lending standards are tightening while a higher number suggests loosening credit standards. Lenders concerned over borrowers’ ability to pay their bills at the beginning of the economic shutdown resulted in an exponential tightening of credit. However, May’s credit availability inched to its highest level since the early days of the pandemic, but remained at 2014 levels. The MCAI on conventional loans increased 3.5%, while MCAI on government loans increased by 0.3%. Of the two component indices of the conventional MCAI, the jumbo MCAI increased by 5.1%, and the conforming MCAI rose by 1.6%, the MBA said. “The overall increases were driven by a 3% gain in the conventional segment of the market, with a rise in the supply of ARMs and cash-out refinances,” said Joel Kan, MBA’s associate vice president of economic and industry forecasting. According to Kan, this is consistent with the uptick in mortgage rates and a slowing refinance market, as well as MBA’s Weekly Applications Survey data showing increased interest in ARMs. Monday data from the MBA revealed mortgage applications dropped for the third consecutive week. Compared to last year, fewer people are applying for purchase mortgages – a likely result of home prices continuing to rise and prospective buyers avoiding astronomical bidding wars. However, housing demand is still far outpacing supply, Kan said. The average loan size on a purchase application edged down to $407,000, below the record $418,000 set in February — but still far above 2020’s average of $353,900, the MBA reported. “The jumbo index also jumped 5% last month, but even with increases over the past two months, the index is still around half of where it was in February 2020,” Kan said. “A rapidly improving economy and job market has freed up jumbo credit, as banks have deposits to utilize. However, there is still plenty of restraint, as many sectors have not fully returned to pre-pandemic capacity, and there are around 2 million borrowers still in forbearance.” At this time last year, the Jumbo loan index was 54% lower than it had been in February 2020. Securing a jumbo loan was the most difficult it had been in four years, according to MBA data. But a flourishing housing market gave way to jumbos from a host of lenders, including Rocket Mortgage and United Wholesale Mortgage. The post Mortgage lenders loosened credit standards in May appeared first on HousingWire. [ad_2] Source link

[ad_1] The post Cheapest States to Buy a House appeared first on Millennial Money. Meg is in a tough spot. Out of college and working full-time, she wants to buy a house. But after doing some research, Meg is starting to understand just how expensive it is.  Home prices in Meg’s area are through the roof. Affordability is top of mind for Meg, so she may need to look elsewhere.  So, what are the cheapest states for homebuyers in America right now? Let’s take a look. Cheapest States to Buy a House West Virginia Mississippi Arkansas Oklahoma Iowa Alabama Kentucky Kansas Ohio Indiana Louisiana Missouri Michigan Tennessee Wisconsin Texas Georgia North Dakota Florida 1. West Virginia  Zillow Home Value Index: $116,723 Median household income: $48,850 For those who love rural living, it doesn’t get any finer than the forested landscape of West Virginia.  West Virginia is known for low-cost living, and reasonable housing prices, with the median home price now hovering below $120,000.   2. Mississippi Zillow Home Value Index: $138,216 Median household income: $45,792 Most of Mississippi is still made of small towns, ranging from coastal shorelines and bayous to dense forests in the northern part of the state. It’s one of the most affordable states in the country, with top cities including Jackson, Hattiesburg, Gulfport, and Biloxi.  In addition to Mississippi’s reasonable home prices, the cost of living and property taxes in the Magnolia State are well below the national average.  3. Arkansas  Zillow Home Value Index: $145,323 Median household income: $48,952 Arkansas is known for its mild year-round climate, and for its breathtaking scenery. Plus, this state, located in the heart of America, is one of the most affordable in the country. Its strong economy and low cost of living make Arkansas a top destination for young people searching to become homeowners.  4. Oklahoma  Zillow Home Value Index: $146,179 Median household income: $54,449 The Sooner State, Oklahoma, offers ultra-low-cost living. It’s also an affordable place to launch a business. Due to its low cost of living and attractive rural landscape, Oklahoma is one of the most popular destinations for western living. Oklahoma is known for its mountain ranges, forests, plains, and prairies. Top cities include Oklahoma City and Tulsa, which is where the majority of economic opportunities come from. 5. Iowa Zillow Home Value Index:  $162,985 Median household income: $61,691 Is this Heaven? No, it’s Iowa. The Hawkeye State state is full of rolling landscapes, with vast stretches of prairies and farmland. The state’s biggest cities are Des Moines and Cedar Rapids, which is where most of the jobs are.  In addition, many homebuyers are expanding into more rural areas due to the current remote landscape. Plus, you’re not far from Illinois, Missouri, and Nebraska, so you can easily get out and see other parts of the country. 6. Alabama Zillow Home Value Index: $165,334 Median household income: $51,734 Alabama offers an abundance of scenery, ranging from coastal shorelines to rolling forests, not to mention the Appalachian mountains. Birmingham is also one of the most affordable cities in America and offers many employment opportunities.  If you’re new to the housing market and thinking about becoming a first-time homebuyer, this could be a good spot. 7. Kentucky  Zillow Home Value Index: $165,664 Median household income: $52,295 Kentucky has it all, from the Blue Ridge Mountains to the streets of downtown Louisville. This is one of the most vibrant states in the South and it’s bordered by states like Ohio and Tennessee. Head to Kentucky for some wholesome, low-cost American living.  8. Kansas  Zillow Home Value Index: $173,352 Median household income: $62,087 Looking for a home on the range? Look no further than Kansas. Those who want simple prairie life with rolling hills and low living costs will have a ball in Kansas, which is smack-dab in the middle of the United States. Its most populated cities include Wichita and Overland. Plus, it’s right next to Colorado. If you’re thinking about starting the home-buying process, this state might be just the place for you. 9. Ohio Zillow Home Value Index: $175,878 Median household income: $58,642 Ohio offers a mix of rural farmland, big city living in Cleveland, and abundant educational and business opportunities in cities like Akron, Cincinnati, and Columbus. The state also comes with reasonable living costs, meaning you won’t have to worry about overpaying for things like food and transportation.  10. Indiana  Zillow Home Value Index: $179,666 Median household income: $57,603 Indiana has a lot going for it, and it’s just a stone’s throw away from Chicago, which offers plenty of employment opportunities and big city attractions. Yet, it’s also affordable, with a median home value under $200,000.   If you’re itching for midwestern homeownership, why not take a look here? 11. Louisiana  Zillow Home Value Index: $183,101 Median household income: $65,712 For most people who move to Louisiana, the target is New Orleans with its fun-loving culture of music, cuisine, and nightlife. But Louisiana has a lot to offer outside of the Crescent City too, making it a prime spot for bargain-hunting homebuyers.  12. Missouri Zillow Home Value Index: $188,302 Median household income: $57,409 Missouri is a Midwesterner’s dream, with the mighty Mississippi rolling through it. Of course, there’s also St. Louis with its famous arches, world-class barbecue, and jazz.  The state is also home to the Ozark Mountains, and conveniently close to cities like Louisville, Indianapolis, Chicago, Nashville, Memphis, and Kansas City.  Since Missouri has a lower median home price, it should be able to get a lender to approve the funds you need to get a house. 13. Michigan  Zillow Home Value Index: $202,279 Median household income: $59,584 Michigan is one of America’s best-kept secrets for affordable living. The city offers low housing, food, healthcare, child care, and transportation costs. The Motor City of Detriot offers the most employment opportunities, while Ann Arbor houses the University of Michigan, a world-renowned research university. 14. Tennessee Zillow Home Value Index: $218,121 Median household income: $56,071 Tennessee has

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[ad_1] Kim Kardashian Ended Her Marriage To Kanye West After Growing Tired Of “Extravagance” And Having “No One To Share Life With” When He Made Them Live Apart  BuzzFeed News Kanye West ‘Trying to Woo and Impress’ Irina Shayk (Source)  Entertainment Tonight Kim Kardashian Has Known About Kanye West’s Relationship with Irina Shayk for ‘Weeks,’ Source Says  Yahoo Entertainment “Jam (Turn It Up)” is the strangest relic of Kim Kardashian’s career  The A.V. Club Kanye West and Irina Shayk DATING! Couple ‘Casually’ Seeing Each Other (Source)  Entertainment Tonight View Full Coverage on Google News [ad_2]