Wells Fargo Go Far Rewards: Get 5% Bonus Cash Rewards at Home Depot & Bed Bath & Beyond

The Offer

Check your Wells Fargo Go Far Rewards for the following offers:

  • Activate to earn 5% Cash Rewards at Home Depot in-store or online purchases of $50+. Max $5 Cash Rewards. One-time use only.
  • Activate to earn 5% Cash Rewards at Bed Bath & Beyond in-store or online purchases of $50+. Max $10 Cash Rewards. One-time use only.

The Fine Print

  • Expires 5/16/21
  • Requires activation

Our Verdict

Max this out with $100 purchase at Home Depot or $200 purchase at Bed Bath & Beyond.

Hat tip to reader JJ

Source: doctorofcredit.com

Report: Wells Fargo Propel World, Annual Fee to be Removed From Card

Reader Schmekel heard from two separate Wells Fargo supervisor/managers that they’ve sent out a letter with the information on the Wells Fargo Propel World card that the annual fee on the card is being removed going forward. No action required on the part of the customer.

We don’t know how long this card will last in its current form (i.e. they might product change everyone to a new card at some point), but at least this would mean no fees for as long as it lasts. Until now, there was a $175 annual fee which was waived only the first cardmember year.

Let us know if you get the letter or verify further.

Source: doctorofcredit.com

Stock Market Today: Nasdaq, S&P 500 Hit New Highs to Start Packed Trading Week

Stocks kicked off what will be a headline-packed week with largely positive action Monday that pushed the S&P 500 and Nasdaq Composite into record territory.

“This week will be full of catalysts which will include: over one-third of companies in the S&P 500 announcing earnings (that number is much higher when viewed as % of market-cap), a Fed rate decision and … the first look at Q1 GDP and inflation data,” says Michael Reinking, NYSE senior market strategist.

Monday was data-light, however; headline durable-goods orders rebounded in March after a February drop but came in below estimates.

Chip stocks including Advanced Micro Devices (AMD, +3.2%) and Qualcomm (QCOM, +2.6%) lifted the Nasdaq by 0.9% to a record close at 14,138.

The S&P 500 (+0.2% to 4,187) also eked out a new high, with a boost from energy names such as Schlumberger (SLB, +2.5%) and APA (APA, +2.6%).

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The Dow Jones Industrial Average wasn’t quite so fortunate, finishing Monday with a 0.2% loss to 33,981.

Other action in the stock market today:

  • Spotify (SPOT, +4.9%) jumped today on news the audio-streaming service is planning on raising prices on some of its subscriptions, with a price hike on its U.S. family plan coming as soon as this Friday.
  • Amazon.com (AMZN, +2.0%) rose solidly, but not on solid news. Instead, AMZN got a lift from the rumor mill today, with shares popping on unconfirmed buzz about a possible stock split – one that theoretically would be announced during its Q1 earnings report, due out after Thursday’s close.
  • American Express (AXP, +4.2%) managed to brush off broader weakness in the Dow. The stock gained ground as several analysts hiked their price targets after the company reported better-than-expected Q1 profits last Friday.
  • U.S. crude oil futures fell 0.4% to settle at $61.91 per barrel.
  • Gold futures gained 0.1% to finish at $1,780.10 an ounce.
  • The CBOE Volatility Index (VIX) gained 2.7% to close at 17.80.
  • Bitcoin prices sank by 4.8% to $52,967. (Bitcoin trades 24 hours a day; prices reported here are as of 4 p.m. each trading day.)
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A Surge in Small-Cap Strength

Leading the way today was the “little guy,” with the small-cap Russell 2000 jumping 1.2% to 2,298. Reinking notes that “the Russell’s outperformance is emblematic of some broader risk-on trading behavior seen not only in equities but in other asset classes as well.”

And there’s reason to believe that behavior will continue in the midst of America’s economic recuperation.

“Since 2009, the risk-on cycle has repeated every three to four years. We have observed significant returns in small-cap stocks, cyclical sectors and low-valuation companies, relative to the S&P 500 Index, during the first year of a risk-on cycle,” says Chao Ma, global portfolio and investment strategist for the Wells Fargo Investment Institute.

We’ve recently highlighted a selection of growth-oriented small caps that investors can use to leverage this continuing trend. Today, however, we take a fresh look at 11 small-cap stocks that analysts were bullish on at the start of 2021. The good news? All but one of those picks – which range from high-octane biotechs to real estate plays with market-topping yields – remain buys.

Kyle Woodley was long AMZN as of this writing.

Source: kiplinger.com

Wells Fargo Hired 5,000 Employees to Handle Mortgage Workload

Last updated on August 9th, 2013

opportunity

San Francisco-based bank and mortgage lender Wells Fargo reportedly hired 5,000 employees to handle its ever-increasing mortgage workload, according to Bloomberg.

Wells Fargo CFO Howard Atkins said in an interview that the bank increased staff over the past couple of months to process its record haul of mortgage applications, which made it the top mortgage lender over Bank of America/Countrywide.

The company originated $101 billion in first mortgages during the first quarter, more than double the $50 billion in the fourth quarter and nearly half the $230 billion for all of 2008.

The correspondent/wholesale channel contributed $49 billion to that, practically double the levels seen in earlier quarters; home equity lines and loans, however, totaled just $1 billion.

All those applications led to the best mortgage origination quarter since 2003, contributing to the company’s record $3.05 billion net income in the first quarter.

But what happens once mortgage rates rise and refinance dries up, pushing volume back to more historical levels?

Sure it’s great that the bank took on thousands looking for work, but it seems to be only temporary employment.

And it’s wonderful that they’re upping their fulfillment areas, but what about staff in the company’s loss mitigation department?

“We remain focused on proactively identifying problem credits, moving them to nonperforming status and recording the loss content in a timely manner,” said Chief Credit Officer Mike Loughlin in a release.

“We’ve increased and will continue to increase staffing in our workout and collection organizations to ensure these troubled borrowers receive the attention and help they need.”

I doubt they’ve hired many employees in their workout and collection units, as they seem pretty focused on bringing in all those new mortgages with the low mortgage rates.

Shares of Wells Fargo were up $1.24, or 6.59%, to $20.05 in midday trading on Wall Street.

(photo: jasontester)

About the Author: Colin Robertson

Before creating this blog, Colin worked as an account executive for a wholesale mortgage lender in Los Angeles. He has been writing passionately about mortgages for 15 years.

Source: thetruthaboutmortgage.com

[Rumor] Wells Fargo To Discontinue Propel Cards [Last Week]

According to reddit user LA-and-SF (citing internal document) Wells Fargo will be discontinuing the Propel cards on 4/19/21. It is expected that these cards will no longer be available to new cardholders but existing cardholders will be grandfathered. The Wells Fargo Propel World card is still available for sign up over the phone, it offers a 40,000 point bonus and is ranked one of our top credit card sign up bonuses. I’d recommend you sign up for this card ASAP if you don’t already have it as it could easily be pulled before that 4/19/21 date.

Source: doctorofcredit.com