Core Insights - The U.S. housing market is experiencing a significant imbalance, with sellers outnumbering buyers by a large margin, providing buyers with negotiating power, but not alleviating the affordability crisis [1][7] Market Dynamics - In December, there were approximately 47.1% more home sellers than buyers, marking the largest gap since 2013, and a 7.1% increase from the previous month, which is also the largest increase since September 2022, and a 22.2% increase year-over-year [2] - The number of homebuyers decreased by 5.9% month-over-month to an estimated 1.34 million, representing the largest drop since March 2023 and the lowest level recorded since 2013 [3] - The number of sellers in the market fell by 1.1% month-over-month to an estimated 1.97 million [4] Buyer Market Definition - Realtor.com defines a buyer's market as having over 10% more sellers than buyers, and it has been classified as such since May 2024, indicating stronger negotiating power for buyers [6] Affordability Issues - Despite the buyer's market conditions, high housing costs, layoffs, and political and economic uncertainties continue to deter many potential buyers, maintaining an imbalance in the market [7] Regional Insights - The strongest buyer markets in December included: 1. Austin, Texas: 128% more home sellers than buyers 2. Fort Lauderdale, Florida: 125% more home sellers 3. Nashville, Tennessee: 111% more home sellers 4. Miami, Florida: 103% more home sellers 5. San Antonio, Texas: 103% more home sellers [10]

President Donald Trump on Wednesday announced that he will no longer move forward with tariffs on a group of European allies after he reached a deal with NATO's leader on a framework for a future deal over Greenland. The president took to his Truth Social platform and said that following a meeting with NATO Secretary General Mark Rutte, he is backing off imposing tariffs on several European countries that stood up for Greenland's sovereignty amid Trump's push to acquire the island."Based upon a very product ...

JPMorgan Chase CEO Jamie Dimon issued a stern warning about President Donald Trump's credit card rate cap at the World Economic Forum in Davos on Wednesday, saying that it would be an "economic disaster."  Trump said that he wants to impose a 10% cap on credit card interest rates for one year, saying he wants to prevent consumers from being "ripped off" by credit card issuers, with interest rates that may exceed 20% for some borrowers.When asked whether Trump’s proposed rate cap was a bad idea, Dimon said d ...

Citadel CEO Ken Griffin sounded off on the impact of the Biden administration's regulatory policies on the U.S. economy, saying that the Trump administration's move to end the "regulatory onslaught" has been a relief to entrepreneurs wanting to grow their businesses. The billionaire co-founder of Citadel spoke at the World Economic Forum on Wednesday and said the Biden administration's heavy-handed approach to regulation created constant friction for businesses like his firm."You cannot imagine how painful ...

The European Parliament said it is halting work on proposed U.S.-EU trade measures on Wednesday after accusing Washington of undermining the sovereignty of Denmark and Greenland through tariff threats. "Given the continued and escalating threats, including tariff threats, against Greenland and Denmark, and their European allies, we have been left with no alternative but to suspend work on the two Turnberry legislative proposals until the US decides to re-engage on a path of cooperation rather than confronta ...

Nvidia CEO Jensen Huang said the rapid expansion of artificial intelligence is setting off what he described as the "largest infrastructure buildout in human history," as companies and governments pour trillions of dollars into the computing power needed to run AI systems in real time. Speaking with FOX Business’ Maria Bartiromo from the World Economic Forum in Davos, Huang said the buildout will span data centers, chip factories and so-called "AI factories," adding that the shift is still in its early stag ...

Group 1 - GameStop is shutting down approximately 30 stores in New York as part of a nationwide closure affecting at least 470 locations by the end of the month [1][5] - The closures in New York include multiple locations in New York City, with specific stores in the South Bronx and Brooklyn set to close [2][5] - The nationwide shutdowns are part of GameStop's fiscal year-end strategy, with significant closures also occurring in Texas, Florida, Pennsylvania, and California [5] Group 2 - GameStop has closed 590 stores nationwide in the previous fiscal year, leading to over 1,000 total closures in about two years [5][7] - The company, which once operated more than 6,000 stores globally, is expected to have fewer than 2,000 locations remaining after the January closures [7] - In a recent filing, GameStop indicated plans to close additional stores during fiscal 2025 as part of an optimization review [7] Group 3 - GameStop's most recent quarterly earnings report showed a decline in net sales to $821 million from $860 million year-over-year, while net income increased to $77.1 million [10]

Group 1 - Congressman Thomas Massie criticized the Trump administration for its handling of seized Venezuelan oil, claiming it is unconstitutional for the president to sell the oil for personal gain [1][4] - Massie referred to the oil as "stolen" and emphasized that only Congress has the authority to appropriate funds, challenging the legality of the administration's actions [1][4] - The Trump administration has initiated oil sales from Venezuela, with the first sale generating approximately $500 million in revenue, which is being held in U.S. controlled bank accounts [5][7] Group 2 - The Energy Department indicated that U.S. sales of Venezuelan oil could continue indefinitely, collaborating with major commodity marketers and banks to facilitate these transactions [8] - The Trump administration's focus on Venezuelan oil is part of a broader strategy following military actions aimed at the Venezuelan government, including the arrest of President Nicolás Maduro [4][8] - The administration's actions have led to internal conflicts, with Massie opposing large-scale federal spending and military actions without congressional approval [8]

Core Insights - Lululemon Athletica Inc. has paused online sales of its new "Get Low" clothing line due to customer complaints about the leggings being too revealing [1][2] - The collection is still available in North American stores and other markets, with plans to return to e-commerce channels soon [5] - The company is facing challenges in the competitive athleisure market, with a significant stock decline of nearly 50% over the past year, although shares have increased by about 20% in the last quarter [10][13] Company Challenges - Lululemon's CEO Calvin McDonald is set to step down on January 31, as the company struggles to maintain its market position [6] - The company is under pressure from activist investor Elliott Management, which holds a stake of approximately $1 billion and is involved in discussions regarding potential leadership changes [9] Product Details - The "Get Low" collection is designed for training, featuring seamless technology for a sculpted look and made from a weightless, fast-drying fabric [5]

Core Viewpoint - President Trump signed an executive order aimed at curbing Wall Street-backed investors from purchasing single-family homes, asserting that this practice has made homeownership unaffordable for American families and transformed neighborhoods into corporate assets rather than communities [1][3]. Group 1: Executive Order Details - The order instructs federal agencies to limit federal support for purchases of single-family homes by institutional investors and calls for increased antitrust scrutiny by the DOJ and FTC [2][9]. - It emphasizes that large institutional investors should not buy single-family homes that could otherwise be purchased by families, with guidance to be issued within 60 days [6][9]. - The order allows for exceptions for build-to-rent communities that are specifically planned and constructed as rental properties, aiming to preserve legitimate rental development [9]. Group 2: Economic and Social Implications - Trump highlighted that homeownership is a key aspect of the American dream, which is increasingly unattainable for many, particularly first-time buyers, due to competition from institutional investors [3][12]. - The executive order is framed as both an economic and moral issue, with the intention to empower American families and prevent Wall Street from treating neighborhoods as mere investment opportunities [11][12]. - The White House stated that the move is designed to prioritize American families in the housing market, addressing the issue of institutional buyers crowding out first-time homebuyers [12].