Nike Poised to Win in Dick's Sporting Acquisition of Foot Locker
The two sportswear chains announced last week that Dick's had reached a $2.4 billion deal to acquire Foot Locker, whose slow recovery hasn't impressed investors. Together, the retailers account for nearly $5 billion — or 10% — of Nike's revenue, according to a Bloomberg estimate.
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12 minutes ago
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Home sales declined in June as prices hit new all-time high
Sales of existing homes dropped more than expected in June, the latest sign that record-high prices and elevated mortgage rates are extending the housing market's deep freeze. After jumping in May, sales last month fell 2.7% to a seasonally adjusted annual rate of 3.93 million, according to National Association of Realtors data released on Wednesday. Sales came in worse than expected; economists had forecast a smaller decline to a seasonally adjusted annual rate of 4 million homes. Spring is historically the busiest time of year for home sales, but all signs point to 2025 being another subdued year. June sales typically reflect homes that went under contract in April or May — the market's busy period. But mortgage rates have remained in the high 6% area for much of the year while prices hit a new record, straining affordability for buyers even when the labor market and economy look healthy. Read more: Historical mortgage rates: How do they compare to current rates? 'The mismatch — more jobs, fewer home sales — is really coming from the affordability challenges, specifically higher mortgage rates,' Lawrence Yun, the NAR's chief economist, said on a conference call to discuss the data. Year over year, the median existing home price rose 2% to a new record high of $435,300, according to NAR data. Most of the country saw a sales slump in June. The steepest declines came in the pricey Northeast where buyers still generally outnumber sellers, and home prices are rising the fastest. There, sales dropped 8% from a month earlier, while prices were up 4.2% in the last year to an average of $543,300. Sign up for the Mind Your Money weekly newsletter By subscribing, you are agreeing to Yahoo's Terms and Privacy Policy Sales contracted 4% month over month in the Midwest where for-sale inventory is also more constrained. Prices there were up 3.4% since June 2024. Only the West eked out a sales gain in June, rising 1.4% from May, though sales in that region are down 4.1% from a year earlier. Learn more: What's the best time of year to buy a house? Claire Boston is a Senior Reporter for Yahoo Finance covering housing, mortgages, and home insurance. Sign up for the Mind Your Money newsletter
Yahoo
12 minutes ago
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Fantasy Baseball Trade Analyzer: Players to acquire before the deadline who could help in all major stat categories
I usually preach the idea of trading for value in fantasy baseball, even if it means unbalancing your roster in the process. After all, the MLB season is a marathon, with plenty of twists and turns, and the concept of making your overall roster stronger is usually the best plan. But trading intentions change at this time of year, as it's time for managers to make moves that address specific category or positional needs. The players listed below each have a standout category, which makes them good fits to be involved in late July trades. Batting Average Bo Bichette, SS, Blue Jays Bichette ranks 32nd in baseball in batting average but second in expected average. His strikeout rate has improved to 16.3%, and he continues to have an outstanding line drive rate (23%). His current .281 average feels like his floor for the stretch run, and with 12 homers and four steals, he hasn't produced at a level that makes him a coveted asset on the trade market. I could have written in this space about Bichette's teammate Vladimir Guerrero Jr., who actually leads baseball in xBA, but Bichette will be much easier to acquire on the trade market. Home Runs Cal Raleigh, C, Mariners I know, I know — it's too obvious to choose the MLB home run leader in this spot. But my reasoning is more about Raleigh's position than his homer total. The Seattle slugger has hit 21 more round-trippers than any other catcher, which gives his fantasy managers a positional advantage that cannot be provided by any other player. Managers who need to improve in the homer category would be wise to trade their best player for Raleigh while working the waiver wire to find a replacement at a deeper position. Willson Contreras, C, Cardinals Think of Contreras as a much, much cheaper version of Raleigh. The veteran is having a solid season, but the gap between his homer total and expected homer total (-3.7) is larger than that of any player with the exception of Rockies outfielder Jordan Beck. Contreras is already a solid player to add, and he has more upside than most managers realize. RBI Geraldo Perdomo, SS, D-backs Perdomo has been one of this year's waiver-wire gems, offering balanced production that is highlighted by an RBI total ranking 10th in the majors. The shortstop should continue to drive in runs often, as he regularly hits second or third in a lineup that ranks fourth in scoring. He also benefits from hitting behind speedy table-setter Corbin Carroll. And with just 10 homers and 15 steals, Perdomo should only require a reasonable trade return. [Smarter waivers, better trades, optimized lineups — Yahoo Fantasy Plus unlocks it all] Runs Zach Neto, SS, Angels Neto has become one of the most underrated fantasy assets. Despite opening the season on the injured list and debuting on April 18, the shortstop ranks 13th in runs scored, while making helpful contributions in homers, steals and batting average. As the leadoff hitter in a respectable Angels' lineup, Neto should be a safe source of runs the rest of the way. TJ Friedl, OF, Reds Friedl is a poor man's version of Neto, and will be cheaper in trade talks. As the leadoff hitter for the Reds, Friedl is steadily moving towards 85-90 runs scored, while making useful-but-unspectacular contributions in other areas. His trade value is minimal, which makes him a great target for those in a tight runs-scored race. Stolen Bases Zach McKinstry, 3B/SS/OF, Tigers Steals are the easiest category to address without breaking the bank, as there are plenty of players who provide their share of swipes while making minimal contributions elsewhere. I'll highlight McKinstry, who not only steals bases but has also been having a surprisingly good season at the dish. The utilityman ranks 24th in the majors in steals, but since June 1 he has accumulated the second-best total (13) of any player. And with triple-position eligibility, McKinstry is easy to fit into a lineup. Xavier Edwards, 2B/SS, Marlins Edwards has been a fantasy bust this year, as he was among the players most likely to lead baseball in steals; instead, he ranks 19th. And as someone who makes minimal contributions in homers and RBI, Edwards needs plenty of swipes to keep our attention. I see him as a buy-low candidate for those who need to gain ground in steals but don't have much to spend on the trade market. After all, Edwards still has the wheels that led to 28 steals in the second half of 2024.
Yahoo
12 minutes ago
- Yahoo
Silver's hot streak gathers pace; market at highest since 2011
By Polina Devitt and Sherin Elizabeth Varghese (Reuters) -Silver prices surged to their highest in almost 14 years on Wednesday, aided by worries about U.S. tariff policy, signs of tightness in the spot market and growing investor interest in alternatives to gold. Spot silver was up 0.3% at $39.40 per troy ounce as of 1354 GMT, its highest level since September 2011. Silver, both a precious and industrial metal, is up 36% this year, outperforming gold's 31% growth and coming within a whisker of the key $40-per-ounce mark. The metal hit a record high of $49 in 2011. U.S. President Donald Trump's plan to impose 50% import tariffs on copper from August 1 and the U.S. import tariffs for Mexico widened the premium of the U.S. futures for silver and other metals against the London benchmarks in July, leading to a growth in lease rates in the spot market. Gold, silver, platinum and palladium were excluded from Trump's April reciprocal tariffs, but "the broader market isn't trading it that way and is taking a page out of Comex copper's handbook", Nicky Shiels, head of metals strategy at MKS PAMP. Spot silver prices may hit $42 per ounce this year, according to Shiels. Analysts also noted that industrial demand for silver, heading for the fifth year of structural market deficit, remains solid, while investment demand is gaining momentum as a more affordable alternative to gold. Silver's recent rally has improved its ratio with gold to the strongest level in seven months. It currently takes 87 ounces of silver to buy an ounce of gold, compared with 105 ounces in April. "It is the copper tariff that sent some spinning off at odd tangents that captured the other metals," said a precious metal trader based in London, adding that the lease rates in the spot market should fall once the borrowing activity caused by the U.S. tariff fears subside. The current momentum could be hot enough to take silver over $40/oz in the short term, said Nitesh Shah, commodity strategist at WisdomTree. "But with positioning stretched, we would not be surprised if it fell back to $35/oz, before it starts its march higher to $45/oz next year," Shah added. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
