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It’s time for Yahoo Finance’s Market Minute.
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The Dow leading stocks higher here, all three major averages trading near all-time highs as August CPI data and the latest jobless claims set the stage for the Fed to cut rates at next week’s meeting.
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Mortgage rates dropping significantly, the 30-year fixed rate mortgage is now 6.35% compared to 6.5% last week. That’s the largest weekly drop in the past year, according to Freddy Mac.
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The 15-year mortgage also falling to 5.5% from 5.6%.
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Opendoor shares surging as the company taps Shopify COO as its new chief executive. Co-founders Keith Raboy and Eric Wu will also rejoin Opendoor’s board. That’s coming after former CEO Carrie Wheeler resigned amid intense pressure campaigns from investors like Eric Jackson.
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And Alibaba shares jumping as it signals plans to increase its AI investments, Chinese tech giant announcing plans to raise $3.2 billion by issuing convertible bonds.
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And that’s your Yahoo Finance market minute. Scan the QR code below to check out the best and worst performing stocks of the session.
