Rolling coverage of the latest economic and financial news
- Latest: Travel and hospitality shares rally
- Holiday bookings surge in UK after lockdown exit plans revealed
- UK jobless rate highest in almost five years
- Unemployment rate hit 5.1% in October-December
- ONS: labour market may be stabilising
- CIPD: Chancellor should extend furlough scheme
2.44pm GMT
Wall Street has opened in the red, with technology stocks falling sharply.
The Dow Jones industrial average has dropped by 126 points, or 0.4%, to 31,394 points. The wider S&P 500 index is down 1%.
U.S. markets open lower https://t.co/FYhywaZ3gw pic.twitter.com/jdwzaK3k1k
*TESLA FALLS 9.3% AT THE OPEN, ERASING ITS YEAR-TO-DATE GAINS$TSLA pic.twitter.com/10JjOLsH0A
Tesla ( $TSLA ) is now down 26% in the last month…
Is it time to buy the dip?
2.35pm GMT
Over in the US, house prices have jumped at the fastest rate in almost seven years.
Home prices nationally increased by 10.4% year-on-year in December, according to the S&P/Case-Shiller home price index.
Today’s S&P Case Shiller Index showed that #home prices accelerated in December 2020, with a 10.4% YoY gain, as buyers felt the strong pull of record-low #mortgage rates and kept bidding on a dwindling supply of homes. @GeorgeRatiu pic.twitter.com/9M3f6b3qqE
Case-Shiller: National House Price Index increased 10.4% year-over-year in December https://t.co/qOPgSLU4Iw pic.twitter.com/ktWYsrESdD