Oil Prices Fall on U.S. Stimulus Impasse, Rising U.S. Crude Stockpiles | Investing News

SINGAPORE (Reuters) – Oil prices fell on Wednesday after U.S. President Donald Trump dashed hopes for a fourth stimulus package to boost the coronavirus-hit economy and on a larger-than-expected increase in U.S. crude inventories.

U.S. West Texas Intermediate (WTI) crude

oil futures declined 42 cents, or 1%, to $40.25 a barrel by 0648 GMT while Brent crude

futures fell 30 cents, or 0.7%, to $42.35 a barrel.

“Crude prices got hammered with one-two punch after President Trump sent all risky assets into freefall after ending negotiations on fiscal stimulus and after US crude stockpiles posted their first build in four weeks,” said Edward Moya, senior market analyst at OANDA.

President Trump, still being treated for COVID-19, ended talks on Tuesday with Democrats on an economic aid package for the United States, the world’s biggest oil consumer, with the U.S. presidential election only weeks away.

“President Trump’s decision to end fiscal

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Artificial Intelligence Chipset Market To Exhibit 33.6% CAGR By 2025, To Be Driven By The Rising Number of Smart Homes & Smart

 Artificial Intelligence Chipset Market To Exhibit 33.6% CAGR By 2025, To Be
Driven By The Rising Number of Smart Homes & Smart Cities Projects Globally |
                               Million Insights

  PR Newswire

  FELTON, Calif., Oct. 7, 2020

FELTON, Calif., Oct. 7, 2020 /PRNewswire/ -- The global artificial
intelligence chipset market is projected to account for USD 59.2 billion by
2025, according to a new report by Million Insights, and expected to grow with
33.6% CAGR over the forecast period, from 2019 to 2025. Artificial
intelligence chip is a dedicated component used in electronic and smart
devices to run machine learning applications. Additionally, growing a large
amount of data has increased the need for high speed processors and fast
computing. For example, Apple has incorporated a neural engine in A11 Bionic
chip's GPU in order to run third-party applications fast. Rising adoption of
AI technology in smart devices is expected to boost market 
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CMBS Foreclosures Start Rising As Hotel Defaults Break 50% In Some Cities

The market for commercial mortgage-backed securities, particularly hotels and retail, continues to worsen with no sign of an imminent turnaround.

The September edition of CMBS analysis firm Trepp’s monthly report found that 26% of hotel-backed CMBS loans are in special servicing, while the same is true for 18.3% of CMBS loans tied to commercial retail properties. Both sectors’ special servicing rates are the highest on record, while industrial, office and multifamily all have below 3% of their CMBS loans in special servicing.

Luxury hotels in major cities seem to be the hardest-hit subsection of the hospitality industry because they are more dependent on business travel and large events that remain all but nonexistent across the country.

Hotels in Houston, which has also been hurt by the oil industry’s struggles, hit a 69% delinquency rate in September, according to Trepp data obtained by Commercial Mortgage Alert. Just over 50% of Chicago’s

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Home prices keep rising in Saroasta-Manatee, but slow down looming

John Hielscher
 
| Sarasota Herald-Tribune

Despite the shock of the coronavirus pandemic, home prices continue to climb in Southwest Florida.

But that rate of growth is lagging behind the gains seen in Florida and nationwide.

Home prices in the Sarasota-Manatee region rose 4.8% over the year in August, trailing increases of 5.3% in Florida and 5.9% throughout the U.S., according to a report on Tuesday from real estate database CoreLogic.

The two-county region ranked 159th lowest for price growth among the 403 U.S. metros studied.

More: THE MONEY MINDERS: Sarasota-Manatee homeowners gain nearly $10,000 in property value

More: Home prices climb as sales accelerate in Sarasota-Manatee

While some expected home price gains to stall during the pandemic, they have continued to show resilience. CoreLogic had earlier projected that the Sarasota-Manatee region faced a 90% chance of falling prices over the next year.

But the tight inventory of local homes for

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Lakeland, Florida is selling some of its ‘iconic’ swans amid rising costs and safety concerns

Later this month, around 30 of the beloved swans at Lake Morton in downtown Lakeland, Florida will be for sale to the general public.

“The magic number that we try to keep our swans around is about 65, and we’re suspecting that we have got well over 80 right now,” Kevin Cook, director of communications for the city of Lakeland, told NBC News.

Cook said that swans have inhabited the lake since about 1923. However, after the last remaining swan had a run-in with an alligator in 1954, the lake was left swanless — until a concerned resident wrote to Queen Elizabeth of England asking for a donation of two of her swans.

The Queen agreed to donate a pair of her mute swans, and they arrived at Lake Morton in 1957.

Today, at least 80 mute swans reside in the densely-populated lake, raising concerns about safety. In the last

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Mortgage rates keep falling, but will rising home prices push some buyers out of the market?

Despite the economic downturn, home prices have continued to increase this year — largely because mortgage rates have remained below 3%. But will home buyers reach a breaking point where they’re priced out of the market en masse?

The 30-year fixed-rate mortgage averaged 2.88% for the week ending Oct. 1, down two basis points from the week prior, Freddie Mac
FMCC,

reported Thursday. A few weeks ago, the average rate for the 30-year loan fell to an all-time low of 2.86%.

The 15-year fixed-rate mortgage dropped four basis points to an average of 2.36%, while the 5-year Treasury-indexed hybrid adjustable-rate mortgage held steady at 2.9% on average.

Low mortgage rates have been a boon to home buyers and sellers alike. The low-rate environment has given buyers a boost even as the economy has remained in a coronavirus-fueled downturn and home prices have risen.

“In the pandemic-driven recession of 2020, we’ve

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Housing shortage fuels rising cost of homes in America

Back in 1971 when “All in the Family” debuted on CBS, no one questioned how a dock worker named Archie Bunker could afford a home on a charming block in Queens, New York. Back then, Archie’s home was worth about $35,000. 

Today, it is valued at more than $800,000. Even after correcting for inflation, that’s more than triple what Archie would have paid for it. 

And sure enough, when “CBS This Morning” visited last winter, there were not many Archie Bunkers buying into the neighborhood. You’re more likely to find doctors, nurses and engineers.

Not even COVID-19 could change that. The pandemic has inspired many buyers to look for larger, more comfortable homes. 

The median price of a townhouse, home or condo soared above $300,000 for the first time over the summer. The average property is selling in just 22 days, faster than ever. 

That new demand has run into

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