Asian shares mostly gain after big tech rally on Wall Street
South Korea's Kospi climbed 1% to 3,164.26 after the Bank of Korea kept its benchmark interest rate unchanged and as semiconductor shares rose following Nvidia's overnight rally on Wall Street.
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14 minutes ago
- Yahoo
UPS: Q2 Earnings Snapshot
ATLANTA (AP) — ATLANTA (AP) — United Parcel Service Inc. (UPS) on Tuesday reported second-quarter net income of $1.28 billion. On a per-share basis, the Atlanta-based company said it had net income of $1.51. Earnings, adjusted for non-recurring costs, were $1.55 per share. The results did not meet Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.56 per share. The package delivery service posted revenue of $21.22 billion in the period, surpassing Street forecasts. Nine analysts surveyed by Zacks expected $20.85 billion. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on UPS at 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
Yahoo
14 minutes ago
- Yahoo
HELOC rates today, July 29, 2025: Rates remain steady ahead of this week's Fed meeting
The HELOC interest rate remains steady; however, rates vary depending on where you live, so comparing lender offers remains important. Home equity line of credit interest rates are waiting for a Federal Reserve interest rate cut, which is not expected to be announced following Wednesday's meeting. The latest Wall Street prediction is a possible rate cut in September. However, the best HELOC lenders will offer low, introductory rates lasting from six months to one year. Now, let's check today's HELOC rate. Dig deeper: HELOC vs. home equity loan: Tapping your equity without refinancing This embedded content is not available in your region. HELOC rates Tuesday, July 29, 2025 According to Bank of America, the largest HELOC lender in the country, today's average APR on a 10-year draw HELOC is 8.72%. That is a variable rate that kicks in after a six-month introductory APR, which is 6.49% in most parts of the country. The national HELOC rate spread runs from a low of 8.05% APR to a high of 9.59%. Homeowners have a staggering amount of value tied up in their houses — more than $34 trillion at the end of 2024, according to the Federal Reserve. That's the third-largest amount of home equity on record. With mortgage rates lingering in the high 6% range, homeowners are not likely to let go of their primary mortgage anytime soon, so selling the house may not be an option. Why let go of your 5%, 4% — or even 3% mortgage? Accessing some of the value locked into your house with a use-it-as-you-need-it HELOC can be an excellent alternative. How lenders determine HELOC interest rates HELOC interest rates are different from primary mortgage rates. Second mortgage rates are based on an index rate plus a margin. That index is often the prime rate, which today is 7.50%. If a lender added 1% as a margin, the HELOC would have a rate of 8.50%. Lenders have flexibility with pricing on a second mortgage product, such as a HELOC or home equity loan, so it pays to shop. Your rate will depend on your credit score, the amount of debt you carry, and the amount of your credit line compared to the value of your home. And average national HELOC rates can include "introductory" rates that may only last for six months or one year. After that, your interest rate will become adjustable, likely beginning at a substantially higher rate. Up Next Up Next How a HELOC works You don't have to give up your low-rate mortgage to access the equity in your home. Keep your primary mortgage and consider a second mortgage, such as a home equity line of credit. The best HELOC lenders offer low fees, a fixed-rate option, and generous credit lines. A HELOC allows you to easily use your home equity in any way and in any amount you choose, up to your credit line limit. Pull some out; pay it back. Repeat. Meanwhile, you're paying down your low-interest-rate primary mortgage like the wealth-building machine you are. This embedded content is not available in your region. Look for introductory rates, but be aware of a rate adjustment later Today, FourLeaf Credit Union is offering a HELOC rate of 6.49% for 12 months on lines up to $500,000. That's an introductory rate that will convert to a variable rate later. When shopping lenders, be aware of both rates. And as always, compare fees, repayment terms, and the minimum draw amount. The draw is the amount of money a lender requires you to initially take from your equity. The power of a HELOC is tapping only what you need and leaving some of your line of credit available for future needs. You don't pay interest on what you don't borrow. HELOC rates today: FAQs What is a good interest rate on a HELOC right now? Rates vary so much from one lender to the next that it's hard to pin down a magic number. You may see rates from nearly 7% to as much as 18%. It really depends on your creditworthiness and how diligent a shopper you are. Is it a good idea to get a HELOC right now? For homeowners with low primary mortgage rates and a chunk of equity in their house, it's probably one of the best times to get a HELOC. You don't give up that great mortgage rate, and you can use the cash drawn from your equity for things like home improvements, repairs, and upgrades. Of course, you can use a HELOC for fun things too, like a vacation — if you have the discipline to pay it off promptly. A vacation is likely not worth taking on long-term debt. What is the monthly payment on a $50,000 home equity line of credit? If you take out the full $50,000 from a line of credit on a $400,000 home, your payment may be around $395 per month with a variable interest rate beginning at 8.75%. That's for a HELOC with a 10-year draw period and a 20-year repayment period. That sounds good, but remember, it winds up being a 30-year loan. HELOCs are best if you borrow and pay back the balance in a much shorter period of time.
Yahoo
14 minutes ago
- Yahoo
UnitedHealth Group reports mixed second quarter earnings, highest MLR ever
UnitedHealth Group (UNH) reported second quarter earnings Tuesday beating Wall Street's expectations on the top line by a small margin, and missing on the bottom line. But its earnings continues a trend of higher-than-expected costs in the industry this quarter. The company reported revenues of $111.6 billion, compared to Wall Street expectations of $111.53 billion, and adjusted earnings per share (EPS) of $4.08, compared to $4.59 expected by the Street. The company also updated its guidance for the full year, after pulling it last quarter. It now expects revenues between $445.5 to $448.0 billion, and adjust earnings at least $16 per share. UnitedHealth's stock was falling in premarket trading on Tuesday, more than 3% after the earnings report released. Industry pressure More patients seeking care means more premiums being paid out and less revenue for health insurers. Typically, insurers aim to be on the lower end of between 80%-85% of the premiums they receive, known as the medical expense ratio. UnitedHealth reported 89.4% this quarter, compared to 84.8% in the first. That number is the highest in the company's history, breaking its 2024 record of 85.5% — which was attributed to higher utilization of care by seniors. Other insurers have reported 90% or more in the second quarter this year — a significant jump from prior quarters, and it's all related to Medicare or Medicaid programs. The marks a continuing trend, which has been plaguing the industry since last year and has taken several stocks for a ride every quarter. Notably, CVS (CVS) saw a hit to its stock after its Aetna Medicare costs came in higher than expected, but then its stock was boosted last quarter as fears of costs were allayed. This quarter, Centene (CNC) and Elevance (ELV) have faced higher-than-expected costs. The hit to UnitedHealth Tuesday appears to be a delayed part of that trend — and the company has acknowledged it, like other big insurers, is surprised by the hit. Especially with the company's focus on revenue management, owning and acquiring companies over the years that would rely on technology to streamline and increase profits. 'UnitedHealth Group has embarked on a rigorous path back to being a high-performing company fully serving the health needs of individuals and society broadly,' said CEO Stephen Hemsley, in a statement. 'As we strengthen operating disciplines, positioning us for growth in 2026 and beyond, the people at UnitedHealth Group will continue to support the millions of patients, physicians and customers who rely on us, guided by a culture of service and longstanding values.' Industry change In addition to the insurance market woes, UnitedHealth has faced internal struggles. Former CEO Andrew Witty was ousted in May, and former CEO and board chair Stephen Hemsley then took the helm. The executive shakeup came after a year of turmoil for the company, including the largest ever cyberattack on its Change Healthcare subsidiary. Meanwhile, the company is still reeling from the death of insurance executive Brian Thompson, who was shot and killed in New York City last year. The incident prompted an awakening in the insurance industry, which faced a backlash for its system of prior authorization requirements that result in denials of care. Several companies, and the Trump administration, have pledged to fix the problems and relax prior authorization burdens for patients. Humana executives said last week during an earnings call that the company would reduce prior authorizations by one-third of the current volume. United Health previously said that it only sees prior authorizations for 2% of total claims and that it will further reduce that amount. UnitedHealth said Tuesday the company is focused on greater transparency with Hemsley leading, and expects to continue offering greater insight into its operations as it rebuilds the company. Anjalee Khemlani is the senior health reporter at Yahoo Finance, covering all things pharma, insurance, provider services, digital health, PBMs, and health policy and politics. That includes GLP-1s, of course. Follow Anjalee as AnjKhem on social media platforms X, LinkedIn, and Bluesky @AnjKhem.
