ECONOMIC CALENDAR:Monday: Dallas Fed Manufacturing Survey Tuesday: S&P Case-Shiller HPI, New Home Sales, Consumer Confidence Wednesday: Durable Goods Orders, Pending Home Sales Index, EIA Petroleum Status Report, FOMC Meeting Announcement 2:00 PM ET Thursday: International Trade in Goods, Jobless Claims Friday: GDP, Employment Cost Index, Chicago PMI, Consumer Sentiment
- June housing starts rise. Groundbreaking activity on new homes rose 4.8% last month, beating expectations. However, revised May numbers suggest the housing sector isn’t picking up speed.
- Weekly jobless claims fall to three-month low. The number of Americans filing for new unemployment benefits fell last week to the lowest reading since April, supporting strong labor market trends.
- Home resales rise in June. Sales of existing homes surged 1.1% last month to the fastest pace in nine years. Low mortgage rates likely contributed.
- Manufacturing activity expands more than expected. A measure of manufacturing sector activity surged to a nine-month high in July, indicating that demand for U.S. factory goods may be rising in the third quarter.
Quote Of The Week
“It’s always helpful to learn from your mistakes because then your mistakes seem worthwhile.” – Garry Marshall