Stock Markets ^{As of 10/16 5:40 PM CST}

Top News

US Mortgage Rates Climb to 6.52%, Highest Since Early August

Mortgage rates in the US have risen sharply for the second consecutive week, with the 30-year fixed rate reaching 6.52%, the highest since August, and the 15-year rate climbing to 5.94%. These increases have contributed to steep declines in both home-purchase activity and refinancing, with a 7.2% drop in purchases and a 26% drop in refinancing. The rising rates are tied to higher Treasury yields due to strong job growth and persistent inflation, dashing hopes for a swift recovery in the housing market.

Israel’s plan to strike Iran is ready, source says

Israel is reportedly preparing a response to Iran's alleged October 1 attack, with retaliation expected before November 5, as per US sources. Amid ongoing strikes, Israel has intensified actions in Lebanon and Gaza. In Lebanon, at least 16 were killed in an Israeli strike on Nabatiyeh, targeting Hezbollah infrastructure. In Gaza, Israel's forces claimed to have killed Mahmoud al-Mabhouh, a Hamas commander involved in drone operations. Humanitarian concerns remain critical, with restrictions imposed on NGOs and calls for better aid flow into Gaza. The situation is highly volatile.

Apple debuts new business tools for managing presence across email, calls, and Tap to Pay

Apple has expanded its Business Connect platform, allowing businesses to manage their branding across various Apple services like Maps, Siri, and Wallet. The platform now supports businesses without physical locations and will let them integrate their branding into Apple’s Mail app, Tap to Pay, and the Phone app. The service offers insights on consumer interactions and allows businesses to customize how they appear to users. These changes aim to enhance visibility and trust for brands on Apple’s ecosystem. Features will roll out globally starting later this year.

After Haryana Swearing-In Today, NDA's Mega Show of Strength

The National Democratic Alliance (NDA) is holding a high-level meeting in Chandigarh, chaired by Prime Minister Narendra Modi, following the BJP's recent electoral success in Haryana. The gathering will include discussions on national development and key political strategies ahead of the Maharashtra and Jharkhand Assembly elections. Notably, the event emphasizes the "year of the 50th anniversary of the attempt to murder democracy," a reference to the Emergency, and aims to signal the BJP's commitment to marginalized communities, as it aligns with Valmiki Jayanti.

Revanth Reddy Does The Opposite: More Powers To HYDRAA!

Telangana Chief Minister Revanth Reddy introduced the Hyderabad Disaster Response and Asset Protection Agency (HYDRAA) to protect public properties from illegal encroachments. HYDRAA has demolished many unauthorized constructions, starting with the N Convention Center owned by actor Nagarjuna. Despite legal challenges, the CM granted the agency additional powers under Section 374B of the GHMC Act, allowing HYDRAA to repair, widen, and manage public streets. While there has been backlash, it remains to be seen how HYDRAA's enhanced authority will be received moving forward.

US: 77% Costco Outlets Were Sold Out Of Gold, Why?

Costco has seen a surge in demand for its 1-ounce gold bars, leading to more than 77% of its stores selling out of the product. The high demand stems from gold's strong price performance, increasing by around 30% in 2024. Gold's price rise, from $2,063.73 per ounce to around $2,650, has attracted seasoned investors, especially during stock market volatility. Costco has also introduced platinum bars, but gold bars continue to be the most popular choice for buyers seeking physical assets amidst economic uncertainties.

Movie News

Samantha 'begged' filmmakers to cast someone else

Samantha Ruth Prabhu's situation while filming a project during her health challenges. Despite her professional commitment, Samantha reportedly asked the filmmakers to cast another actress due to her physical limitations caused by her illness, myositis. However, the filmmakers, impressed by her dedication, insisted on keeping her in the role. Samantha’s resilience and professionalism are highlighted, as she continued working despite her struggles.

Naresh – Viswam is the only big hit film from Tollywood in 2024

At a success meet for Viswam, actor Naresh made a controversial statement, claiming the film was the only big hit from Tollywood in 2024. This comment has sparked backlash online, with netizens pointing out several other hits like HanuMan and Devara this year. While some speculate that Naresh may have misspoken, others believe it was an intentional jab at other films. Despite the mixed reviews for Viswam, the team celebrated the movie’s success.​

Akhanda 2 - Thaandavam Movie Launch Event

Nandamuri Balakrishna's fourth collaboration with director Boyapati Sreenu has been officially titled Akhanda 2, marking a sequel to the 2021 blockbuster Akhanda. Produced by Raam Achanta and Gopichand Achanta under the 14 Reels Plus banner, the film was launched today, with Balakrishna's daughter, M Tejaswini Nandamuri, serving as the presenter. Akhanda 2 is set to release in 2025, featuring music by SS Thaman and cinematography by C Ramprasad and Santoshh D Detakae. The teaser for Balakrishna's movie with Bobby Kolli will release on Diwali.

Theatre Releases

Source: Filmibeat