Closing Bell Overtime: Zillow Co-Founder On Housing Gridlock; UAW Strike Looms; Instacart S-1 8/28/23
Major averages closed higher. It\u2019s the S&P 500\u2019s first consecutive positive sessions of the month. Morgan Stanley\u2019s Lisa Shalett and Wells Fargo\u2019s Scott Wren break down the action. Zillow co-founder Spencer Rascoff talks the housing market gridlock as mortgage rates climb to 20-year highs. He also discusses his new property tech startup Pacaso, fractional ownership for second homes. Art Wheaton, director of Labor Studies at Cornell\u2019s ILR, on the possible upcoming UAW strike\u2014who has the leverage and what it would mean for the economy. Blueshirt Group\u2019s Gary Dvorchak on Secretary Raimondo\u2019s high-stakes trip to China. Plus, Bernstein analyst Nikhil Devnani breaks down the highlights from Instacart\u2019s S-1.