Wall Street has a habit of partying hard right before the crash. Recent weeks felt like a 1990s déjà vu with indexes at record highs, valuations stretched beyond reason, and a handful of mega caps holding everything together. Investors talked about a new era, but history's warning lights are flashing red. From Robert Shiller's century-old valuation metric to Warren Buffett's...

(Reuters) -Sales of previously owned U.S. homes ticked unexpectedly higher in July, but the pace of sales remains sluggish amid affordability issues for buyers thanks to high house prices and interest rates on mortgages. Home sales rose 2.0% last month to a seasonally adjusted annual rate of 4.01 million units from 3.93 million in June, the National Association of Realtors...

(Reuters) -U.S. business activity picked up pace in August, led by a resurgent manufacturing sector that saw the strongest growth in orders in 18 months, a purchasing managers survey showed on Thursday. S&P Global's flash U.S. Composite PMI Output Index, which tracks the manufacturing and services sectors, increased to 55.4 this month, the highest level since December, from 55.1 in...

(Reuters) -The U.S. Justice Department plans to investigate Federal Reserve Governor Lisa Cook, with a top official informing Federal Reserve Chair Jerome Powell of the probe and encouraging him to remove her from the board, Bloomberg News reported on Thursday. A letter to Powell from Ed Martin, a Justice Department official who has led similar investigations into Senator Adam Schiff...