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It’s time for Yahoo Finance’s market Minute.
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Stocks are rising, the S&P 500 eyeing yet another record close after the Fed lowered rates for the first time in nine months.
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And mortgage rates are decreasing once again, the 30-year fixed rate down to 6.26% from 6.35% last week, and the 15 year fell to 5.41 from 5 and a half%.
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That’s according to Freddy Mac.
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The fall in rates in recent weeks has caused the share of mortgage applications that were refinances to reach nearly 60%.
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Shares of chip maker and chip design firm Arm under pressure as investors fear Nvidia’s partnership with Intel could spell bad news for competitors.
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The deal will see Nvidia and Intel collaborating on data center and PC chips. when a Mizuho analyst writing in a note, quote, this is bad for AMD and will add pressure to arm.
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And Bullish shares are jumping after announcing it will soon expand its exchange into the US after receiving a key license from the New York State Department of Financial Services.
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And that’s your Yahoo Finance market Minute.