SINGAPORE (Reuters) – Oil jumped to a seven-year high, safe-havens rallied and U.S. stock futures dived on Tuesday as Europe’s eastern flank stood on the brink of war after Russian President Vladimir Putin ordered troops into breakaway regions of eastern Ukraine.
Brent crude futures rose 1.6% to $96.94, just off their overnight seven-year high. S&P 500 futures fell 1.5% and Nasdaq futures fell 2.2%. Asian stocks were also down over half a percent, while Japan’s Nikkei skidded sharply.
The Russian rouble briefly touched an 18-month low in early Asia trade on Tuesday, after Russia’s MOEX equity index had fallen 10.5% the day before.
Spot gold, in contrast, hit a new six-month top of $1,911.56. [GOL/]
Source: National Assn. of Homebuilders Lumber prices are climbing once again, adding thousands of dollars to the cost of a new home. Builders and consumers thought relief had arrived when the price of lumber started to fall late last year, after soaring to record highs earlier in the year. But starting in December 2021, lumber prices again started to increase. Lumber prices are about triple their average pre-pandemic levels, reports Random Lengths, a lumber industry news site. That’s adding more than $18,600 to the price of a newly built home, the National Association of Home Builders reports.
California’s plan aims to pick up rising viral transmission early and rapidly sequence new variants to determine whether vaccines and therapeutics are still effective.
The state also aims to rapidly deploy additional testing and hospital staff to regions impacted by an outbreak.
The state could reimpose mask mandates depending on the dominant variant and how much disruption it’s causing.
California on Thursday laid out a plan that manages Covid as a permanent aspect of life, anticipating future surges and new variants that may require temporary public health measures such as facemasks depending on how much the virus is disrupting economic and social activity.
(Reuters) – The interest rate on the most popular U.S. home loan surged by the most in nearly two years last week, shooting above the 4% level for the first time since 2019 as financial markets anticipate that the Federal Reserve will respond to the highest inflation in a generation with an aggressive run of rate hikes.
The Mortgage Bankers Association on Wednesday said its weekly measure of the average contract rate on a 30-year, fixed-rate mortgage climbed to 4.05% in the week ended Feb. 11 from 3.83% a week earlier. That was the highest since October 2019 and the largest weekly increase since March 2020 when the onset of the coronavirus pandemic was roiling financial markets.