The Mortgage Market Continues To Struggle And Tech Billionaires Go Head To Head Forbes AI Newsletter June 24th

TL. doctor

• The housing and mortgage markets continue to struggle despite Fed rate hikes and interest rate cuts.
• Meta is allegedly working on a Twitter competitor called Thread, and Elon Musk will revert to Zuckerberg in Elon's best possible way, by tweeting a cage fight.
• The Japanese stock market is hot right now, and Warren Buffett has invested another $20 billion in Japanese companies.
• The best weekly and monthly offers

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Important events that can affect your portfolio

After the Federal Reserve cut interest rates for the first time in months, the mortgage market has finally caught a breather. Over the past three weeks, the average 30-year mortgage rate fell to 6.69% from 6.79% on June 1.

And although rates have risen and fallen since the beginning of the year, they have typically fallen since their peak in late 2022, when rates hit 7.08%.

But let's be honest, it's not a huge swing and the stakes are still much higher than they have been in a long time. Going back to 2020, the average rate was less than 3% and remained roughly unchanged through 2021.

All this means that moving (and therefore getting a new mortgage) is not an attractive proposition for now. Even as interest rates fell to record lows, mortgage applications hit a 28-year low last quarter.

This means that housing market activity is also down and few families are willing or able to take the financial blow of moving if it means a new mortgage with potentially double the interest rate.

It's important for investors to keep an eye out for data like this because the housing market is a major driver of massive economic activity. Many sectors of the market benefit from housing, such as the banking sector, which is already under pressure after a series of bank failures earlier this year.

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There's always something happening on social media, but the last few weeks have been a little weirder than usual.

We shut down Reddit first because the moderators shut down most of the subreddits against the proposed changes to accessing the Reddit API. As the company plans to go public later this year, they're looking at ways to grow revenue.

As one of the most popular sites in the world, Reddit has very little monetization compared to other social media platforms and the main reason for this is Reddit's somewhat anti-establishment culture. One of the changes to address this was the announcement of a high fee for third-party apps to access the Reddit API, similar to the change Elon Musk made on Twitter.

Several third-party apps announced that they would be forced to shut down as a result of this move.

Speaking of Twitter, Meta appears to be working with a competitor looking to criticize the upheavals in Elon Musk's life. Meta is reportedly working on launching a platform for celebrities like Oprah and the Dalai Lama.

In response, Elon Musk challenged Mark Zuckerberg to a cage fight. seriously Zuckerberg's answer? Submit your location.

If the US goes into a recession, it will probably be able to drag it back.

Oldies aside, threads could be a major boon for Meta contributors if the company is able to scale with Twitter's (and, to a lesser extent, Reddit's) user base.

This week's main topic is Q.ai

In terms of market capitalization, the United States accounts for approximately 60% of the total market capitalization of all stock exchanges in each country. But that still leaves 40% of the global value on the table. Sometimes the best place to keep your money (or at least some of it) is outside the United States.

Japan is currently the most popular market in the world. It's no secret that 2022 was a bad year for US markets, with the S&P 500 down 19.95% for the year and the Nasdaq Composite down 33.89%. Japan's Nikkei 225 fared much better, down 10.95%.

Over the past six months, the Nikkei is up 26.79% versus the S&P 500, which is up 13.97%.

Not only that, but Warren Buffett is also doubling down on Japan, recently investing another $20 billion in Berkshire Hathaway. BRK.B Japanese corporate finance.

Access to international markets is not always easy for retail investors. That's why we created the AI-powered Global Trends Group, which provides access to the entire global market, both in the US and abroad.

The package diversifies different economies, also diversifies different assets, thanks to which our artificial intelligence makes weekly forecasts and also trades global stocks and bonds and alternative assets such as forex, gold, oil and volatility index.

If you're looking for a portfolio that invests in everything from Apple stock to wheat futures, this group is for you.

The best trading ideas

Here are some of the best ideas our AI systems recommend for the coming weeks and months.

Modin production (MOD) The thermostat is next week's best buy and our AI awards it an A for our quality and growth factor values. Earnings per share are up 79% in the past 12 months.

Apyx Medical (APYX) , an energy medical technology company, is ranked Top Value for the upcoming week and is ranked D by our AI for quality, low volatility, momentum, technical performance and growth. Earnings per share for the past 12 months were $0.60.

Method Electronics (MEI) - became the top-selling electronics company in our AI quality ranking with an A grade next month. Over the past 12 months, revenue grew 1.4%.

Stronghold Digital Mining (SDIG) - Bitcoin miner is #1 for next month and is rated F by our AI due to low volatility at the moment. Earnings per share for the past 12 months was -$32.89.

Next month's top AI ETF offerings include investments in natural gas and oil stocks, as well as short positions in utilities and corporate bonds. The most popular buy is the US natural gas fund, Invesco DBO. RBS extension Oil Fund and ProShares Ultra Bloomberg Crude Oil ETF. The best short trades are the Vanguard Utilities Index ETF and the iShares iBoxx USD Institutional Bond Mutual Fund.

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