Unusual Whales

US housing starts fall to lowest level since 2020 in worrying sign for the economy

US housing starts fall to lowest level since 2020 in worrying sign for the economy, per BI. US home sales are headed for the largest slowdown since 2011, per Fannie Mae. In the first half of this year, a mere 1% of all US homes underwent a change of ownership,

The stock market has entered its worst 10-day stretch of the year historically

The stock market has entered its worst 10-day stretch of the year historically, per CNBC. "The weak start to September does not bode well for the bullish seasonality scenario that we highlighted entering the month. The S&P 500 dropped 1.27% over the first 10 sessions of

US home sales are headed for the largest slowdown since 2011

US home sales are headed for the largest slowdown since 2011, per Fannie Mae. In the first half of this year, a mere 1% of all US homes underwent a change of ownership, marking the lowest proportion in at least ten years, as per data from Redfin. Merely around 14

90% of companies say they’ll return to the office by the end of 2024

90% of companies say they’ll return to the office by the end of 2024, per CNBC. A recent report by Deloitte has revealed that top executives within major financial institutions hold such a strong preference for remote work that a significant portion of them would consider resigning if compelled

The US Federal Reserve have paused and not hiked rates

The US Federal Reserve have paused and not hiked rates. Fed officials still see one more 0.25 rate hike increase in 2023, and expect to hold rates higher for longer in 2024, 2025 than in June projections Markets had fully priced in no move at this meeting, which kept

MGM, $MGM, is losing up to $8.4 million per day as cyberattack paralyzes slot machines, hotels for 8th straight day

MGM, $MGM, losing up to $8.4 million per day as cyberattack paralyzes slot machines, hotels for 8th straight day, per NYP. Avid Katz, an analyst specializing in the gaming industry at Jefferies Group, recently released an analysis suggesting that MGM could experience a downturn in the range of 10%

Royal Bank of Canada, the largest lender of mortgages in Canada, has said that 43% of its Canadian residential mortgages had an amortization period of longer than 25 years, as of July

Royal Bank of Canada, the largest lender of mortgages in Canada, has said that 43% of its Canadian residential mortgages had an amortization period of longer than 25 years, as of July. That’s up from 40% a year earlier, and just 26% in January 2022. Three prominent Canadian banks

45% of Grindr, $GRND, employees resigned after the company started enforcing a return-to-office mandate

45% of Grindr, $GRND, employees resigned after the company started enforcing a return-to-office mandate, per the LA Times. About 80 of the 178 employees at the LGBTQ+ dating app company resigned after the company in August mandated that workers return to work in person two days a week. “These decisions

SBF's father was unhappy with his salary at FTX US; he wanted FTX to pay him $1 million a year (not $200,000), so he got SBF’s mom involved

SBF's father was unhappy with his salary at FTX US. He wanted FTX to pay him $1 million a year (not $200,000), so he got SBF’s mom involved. He literally said: "Gee, Sam I don’t know what to say here … Putting [your mom] on

Janet Yellen has said she sees no signs that the US economy is in a downturn

Janet Yellen has said she sees no signs that the US economy is in a downturn, per CNBC. "There's absolutely no reason for a shutdown," she said. "Creating ... a situation that could cause a loss of momentum is something we don't need as

Total US Debt has hit $33 trillion, an all time high

Total US Debt has hit $33 trillion, an all time high. "The United States has hit a new milestone that no one will be proud of: our gross national debt just surpassed $33 trillion," said Maya MacGuineas, the president of the Committee for a Responsible Federal Budget. "

Donald Trump is skipping the second GOP debate to speak to striking autoworkers in Detroit

Donald Trump is skipping the second GOP debate to speak to striking autoworkers in Detroit, per CNBC. A campaign spokesperson has officially confirmed what was reported in The New York Times: Trump, the undisputed front-runner in the race for the 2024 Republican presidential nomination, intends to counterprogram against the second

Average rents in Manhattan in August were $5,552 a month, a record

Average rents in Manhattan in August were $5,552 a month, a record. In August, the average Manhattan rent just hit a new record of $5,500 a month. In over 20 years, the national average rent-to-income has reached its highest number ever at 30%. This means that out of

McDonald's, $MCD, is selling 50-cent double cheeseburgers for National Cheeseburger Day today

McDonald's, $MCD, is selling 50-cent double cheeseburgers for National Cheeseburger Day today. Wendy's, $WEN, is giving them out for a penny, per CNBC. “We know that serving orders quickly and accurately leads to increased customer satisfaction,” said Deepak Ajmani, US chief operations officer of Wendy’s

The Fed may do a policy U-turn and slash interest rates as soon as year-end, because a recession almost here, per JPMorgan

The Fed may do a policy U-turn and slash interest rates as soon as year-end, because a recession almost here, J.P. Morgan, $JPM, Asset Management's CIO has said. WSJ said: Central bank is likely to pause rate increases in September, then take a harder look at whether

The median monthly mortgage payment has risen to an all-time high of $2,632

The median monthly mortgage payment has risen to an all-time high of $2,632, per Redfin. That's up 13.9% compared to one year ago, and it comes as mortgage rates hit 7.25% this week for the typical 30-year fixed rate. In August, the average entry-level home

Numerous average house prices in Canada have broken a million

Numerous average house prices in Canada have broken a million. The average home price in Vancouver, Canada is $1,188,000. The average home price in Toronto, Canada, is $1,164,400. The average cost of a home in Canada is $754,700 CAD, per DollarWise. Meanwhile, Canada's

American workers are demanding almost $80,000 a year to take a new job

American workers are demanding almost $80,000 a year to take a new job, per CNBC. The desire for a higher salary when considering a job has reached an all-time high this year, indicating that inflation remains a prominent factor, especially within the job market. According to the most recent

24% of mortgage holders in Canada are having trouble paying their monthly payments

24% of mortgage holders in Canada are having trouble paying their monthly payments, per the Canada Mortgage and Housing Corporation. Meanwhile, three prominent Canadian banks have disclosed that approximately 20% of their residential mortgage borrowers, representing nearly $130 billion in loans, are experiencing a situation where their outstanding balances are

The average monthly payment for new vehicles reached a record $738 in August

The average monthly payment for new vehicles reached a record $738 in August, per CNBC. Meanwhile, buying a car has become extremely expensive as now only 8% of new vehicles cost less than $30,000, down from 38% during pre-pandemic levels, according to CoPilot. This means that the car market

Nearly 50% of American parents say they’d prefer their kids not enroll in a 4-ear college

Nearly 50% of American parents say they’d prefer their kids not enroll in a 4-ear college, per WSJ. Nine in ten graduates said learning a skilled trade can create a better pathway to financial security than going to college Per Bloomberg: Almost half of respondents in the poll of

Some buyers with low credit scores and high debt-to-income ratios are getting 30-year average mortgage quotes in the 8% range

Some buyers with low credit scores and high debt-to-income ratios are getting 30-year average mortgage quotes in the 8% range, per Bloomberg. Additionally, a recent surge in US mortgage rates has pushed affordability to the lowest level in nearly four decades, per Bloomberg. The housing market is stuck, per BI:

YouTube influencers Kevin Paffrath and Tom Nash, as well as NFL quarterback Trevor Lawrence, have agreed to settle claims for an unknown amount alleging that they helped dupe investors who lost billions in the collapse of FTX

YouTube influencers Kevin Paffrath and Tom Nash, as well as NFL quarterback Trevor Lawrence, have agreed to settle claims for an unknown amount alleging that they helped dupe investors who lost billions in the collapse of FTX, per Bloomberg. The settlement terms remain undisclosed by Lawrence and the Youtube duo.

General Motors, $GM, CEO: "My compensation, 92% of it is based on performance of the company... When the company does well, everyone does well"

"You make almost $30 million. Why should your workers not get the same pay increases that you're getting leading the company?" General Motors, $GM, CEO: "My compensation, 92% of it is based on performance of the company... When the company does well, everyone does well.

Mark Cuban had one of his hot wallets hacked for around $870,000

Mark Cuban had one of his hot wallets hacked for around $870,000, per Cointelegraph. According to the transaction history on Etherscan, several batches of assets such as USD Coin, Tether and Lido Staked Ether were suddenly withdrawn from the wallet within a 10-minute window. Cuban added that he had