Good evening and welcome to Markets Desk.
Oura's pulled IPO is raising serious questions tonight. The smart-ring maker walked away from its public debut just hours before pricing, citing market uncertainty. But Wall Street insiders point to valuation concerns, a potential insider cash-out, and the looming shadow of Apple as the real forces behind the retreat.
Shifting to housing, Redfin is calling it a buyer's market in plain terms. A record share of sellers for this time of year are cutting asking prices, with more than one in five active listings seeing reductions. The catch is seven percent mortgage rates remain a ceiling on demand, limiting how far buyers can actually push their advantage.
And in a story that speaks to the broader question of intergenerational wealth, Bank of America finds that fewer than half of wealthy baby boomers believe their heirs will continue their philanthropic traditions. That skepticism comes as one hundred twenty four trillion dollars prepares to change hands in what may be the largest wealth transfer in recorded history. The data, however, suggests the next generation may be more generous than their parents expect.
That's the tape. Markets Desk, signing off the floor.
