Lennar’s 3Q Profit Jumps 33% On Robust Housing Demand

Lennar’s 3Q Profit Jumps 33% On Robust Housing Demand

Lennar Corp.’s 3Q earnings surged 33% to $2.12 per share year-on-year mainly driven by strong housing demand due to low mortgage rates amid the COVID-19 pandemic. Additionally, the housing market is also benefiting from continued short supply of new and existing homes. The homebuilder’s quarterly earnings came way ahead of the consensus estimate of $1.55 per … Read more

Oil Rises With China Economic Data Countering Demand Fears

Oil Rises With China Economic Data Countering Demand Fears

(Bloomberg) — Oil rose as data showed China’s economic recovery from the coronavirus crisis is gathering strength, offsetting a bleak assessment of demand by another top energy organization. Futures gained 1.7% in below-average trading volumes in New York. Chinese retail sales rose for the first time this year in August while industrial production gained by … Read more

California Gov. Newsom gave Trump a patronizingly simplistic briefing pack on the wildfires there, with lots of pictures and massive font

California Gov. Newsom gave Trump a patronizingly simplistic briefing pack on the wildfires there, with lots of pictures and massive font

California Gov. Gavin Newsom and President Donald Trump at a briefing on the state’s wildfires at Sacramento McClellan Airport in McClellan Park, California, on September 14, 2020. BRENDAN SMIALOWSKI/AFP via Getty Images President Donald Trump and California Gov. Gavin Newsom held a joint press briefing on Monday to address the state’s wildfires.  Before the briefing, … Read more

Dannehy joins Justice honor roll by resigning from politicized Durham FBI Russia probe

Dannehy joins Justice honor roll by resigning from politicized Durham FBI Russia probe

The Justice Department has delivered an early “October surprise” — and it’s probably not one that Attorney General William Barr had in mind. It came last week when a highly respected and experienced prosecutor, Nora R. Dannehy, unexpectedly resigned as senior aide to Connecticut’s U.S. Attorney, John Durham. Durham is leading the Barr-sponsored investigation of the FBI’s … Read more

Betting on a V-Shaped Recovery, and Winning

Betting on a V-Shaped Recovery, and Winning

(Bloomberg Opinion) — Market commentators are shaking their heads. Wall Street heavyweights are dubious. Federal Reserve officials are warning about dim prospects for a robust recovery of the devastated pandemic economy. Yet even as the U.S. economy falters and Americans suffer more from Covid-19 than citizens of other developed countries, U.S. stocks are outpacing the rest … Read more