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Mortgage Market - There has been a significant surge in refinancing demand, with refinancing applications growing 4% week-over-week and an 81% increase year-over-year [3] - Mortgage rates have decreased, with the 30-year fixed rate falling to 6.37% from 6.42% [2] - Purchasing applications have seen a 5% increase week-over-week but only a 20% growth year-over-year, indicating ongoing pressures for home buyers [4] Company Earnings - GE Venova reported total revenue of $9.97 billion, exceeding expectations of $9.15 billion, marking the largest earnings beat since its IPO [8] - Adjusted earnings per share came in at $1.64, below the expected $1.95, primarily due to the cancellation of a significant offshore wind project [9] - The electrification segment is experiencing rapid growth, with a backlog of orders expected to last until 2027 [10] Crude Oil Market - Crude oil prices are tracking higher, influenced by trade developments with China and India, despite challenges in reducing Russian oil imports [12][15] - A technical balance is observed in the crude oil market, with prices hitting a key support area around $55 [13] - The potential for new supplies outside of Iran and Russia remains challenging for India, which relies heavily on these imports [16] Commodity Market - Gold is losing momentum but remains steady above the 4,000 mark, while other commodities like silver, copper, palladium, and platinum are showing upward movement [19] - Industrial metals may benefit from a high inflation environment, especially if fiscal policies support economic growth [22] - A hot CPI print could lead to increased demand for metals, particularly silver, as the market adjusts to potential rate-cutting expectations [24]