ECONOMIC CALENDAR:Monday: New Home Sales, Dallas Fed Manufacturing Survey Tuesday: S&P Case-Shiller HPI, Consumer Confidence Wednesday: Durable Goods Orders, EIA Petroleum Status Report Thursday: GDP, International Trade in Goods, Jobless Claims, Pending Home Sales Index Friday: Personal Income and Outlays, Chicago PMI, Consumer Sentiment
- Housing starts fall more than expected. Groundbreaking on new houses fell 5.8% in August as building activity declined broadly after increasing this summer. However, a rebound in permits for new houses suggests housing demand may strengthen.
- Existing home sales fall for second straight month. Home resales fell in August, dinged by a shortage of housing inventory on the market. Growth in home prices is outpacing wage growth, weighing on sales activity.
- Weekly jobless claims fall. The number of Americans filing new claims for unemployment benefits fell by 8,000 to a two-month low last week. Continued labor market growth could give the Fed the green light to raise interest rates in December.
- Manufacturing gauge drops to three-month low. A measure of manufacturing activity slipped in September as weakness in new orders and a strong dollar weighed on demand. New orders rose at the slowest rate this year and hiring was slow.
Quote Of The Week
“Whether you think you can or you think you can’t-you’re right.” – Henry Ford
Recipe Of The WeekWhite Bean and Sausage Soup This hearty soup is quick and easy to make on busy weeknights. Serves 4 Ingredients:
- 1 tablespoon olive oil
- 1 12-ounce package fully cooked chicken sausage, sliced
- 1 medium onion, thinly sliced
- 2 cloves garlic, thinly sliced
- 1 19-ounce can cannellini or navy beans, drained and rinsed thoroughly
- 1 14.5-ounce can low-sodium chicken broth
- 1 14.5-ounce can diced tomatoes
- 1 bunch kale leaves, rinsed, stems removed, and torn into 2-inch pieces
- Kosher salt and black pepper
- 1 loaf crusty bread (optional)