Stocks Pressured as Fed Chair Powell Downplays Further Rate Cuts
Yahoo Financeยท2025-10-29 20:35
US MBA mortgage applications rose +7.1% in the week ended October 24, with the purchase mortgage sub-index up +4.5% and the refinancing sub-index up +9.3%. The average 30-year fixed rate mortgage fell -7 bp to a 13-month low of 6.30% from 6.37% in the prior week.Strength in semiconductor stocks was a supportive factor for stocks on Wednesday after Nvidia rose by more than +2% after President Trump said he was open to providing China with access to Nvidia's Blackwell AI processor as part of a trade deal. Chi ...