Home prices are still on the rise. And the Feds are going after TurboTax.
Shares and bond yields jumped on this Tuesday after encouraging talks in the Russian invasion of Ukraine.
The Dow surged ahead 338 points to close at 35,294
The Nasdaq gained almost 2%, up 264 points
The S&P was up over 1%, gaining 56.
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We talk about rising mortgage rates, but that doesn’t seem to be having much impact – at least not yet – on national home prices. They increased 19% year-over-year in January. Phoenix, Tampa, and Miami saw the biggest annual gains at around 30% each.
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A new survey shows consumer confidence went up this month for the first time this year. But Americans are still uneasy about high inflation, the pandemic, and the economic issues surrounding the war in Ukraine.
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And the Federal Trade Commission is suing TurboTax owner Intuit, for advertising the tax software as “free”. The FTC claims the free version is simply “bait and switch” because most users are charged when they file their tax returns. Intuit says the arguments “simply aren’t credible.”
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From Los Angeles, I’m Brian Martin with your BEONDTV After the Bell report.