Happy Wednesday everyone. Today is July 22nd and U.S. stock futures fell in early trading Wednesday amid renewed U.S.-China tensions and ahead of major technology earnings from Microsoft and Tesla after the closing bell. Weekly mortgage demand from homebuyers surges again along with another increase in coronavirus deaths. U.S. agrees to pay Pfizer and BioNTech $2 billion for 100 million doses of coronavirus vaccine and UMD students are bound to their off-campus leases and may lose thousands.
U.S. stock futures fell in early trading Wednesday amid renewed U.S.-China tensions and ahead of major technology earnings from Microsoft and Tesla after the closing bell. Dow Jones Industrial Average futures were down 58 points, or 0.2%. S&P 500 futures dipped 0.2% while Nasdaq 100 futures gained 0.2%.
Homebuyer demand and an already strong refinance market pushed mortgage application volume up 4.1% last week, the Mortgage Bankers Association said. Low rates are only adding to already strong buyer demand.Refinance application volume was up 5% for the week and was 122% higher than a year ago.
More than 1,100 Americans died of the coronavirus yesterday, the highest daily total since late May. “It will probably, unfortunately, get worse before it gets better,” President Trump said at his first televised news conference on the virus in weeks. “Something I don’t like saying about things, but that’s the way it is.
The United States will pay $1.95 billion for Pfizer to produce and deliver 100 million doses of its Covid-19 vaccine candidate in the U.S. if it proves safe and effective in humans, the government announced Wednesday. German biotech firm BioNTech and U.S.-based Pfizer are jointly developing the vaccine candidate.The vaccine would be made available to Americans “at no cost,” HHS said.
Staying home during the fall semester could mean a significant financial loss for some University of Maryland students who had already signed on-campus apartment leases.Both the South Campus Commons and the Courtyard Apartments are on-campus housing that fall under a public-private partnership managed by Capstone On-Campus Management, not the university. While students living in dorms were allowed to terminate leases without penalty, students with leases in the on-campus apartments were not.