7/29/22

Mortgage rates are carving their own path. And dreamers are emerging with tonight’s big drawing. A strong day on Wall Street led by Chevron, and Caterpillar, and earnings results from two tech titans: Amazon and Apple.

The Dow gained 315, 1%, to close at 32,845.
The S&P was up almost 1.5% or 57 points.
The Nasdaq jumped 228, almost 2%.

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Just a day after the Fed hiked its benchmark rate, mortgage rates went the opposite direction. Down to 5.22%, from 5.54% on Wednesday. Rates brielfy crossed 6% in mid-June. This drop also follows the recent GDP report showing our economy contracted for the second straight quarter.

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We’ve got a date! The Elon Musk – Twitter trial hits the Delaware courtroom October 17th. Twitter is suing Musk for pulling out of a $44 billion acquisition. Musk claims Twitter isn’t being honest about spam accounts.

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And we can’t talk money without talking mega millions. Tonight’s drawing is for $1.28 billion, with a cash option of $747 million. Odds remain the same, 1 in 302 million. It is now the third largest lottery jackpot ever. What’s the first thing you buy if you win? Hmm…

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From Los Angeles, I’m Brian Martin with your BEONDTV After the Bell report.