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MARKET TRENDS: Pending Home Sales Lowest Since March as Prices Surge
Posted on July 30, 2015

Pending home sales faltered in June after gaining for the last five consecutive months. Signed contracts to buy existing homes that hit a 9-year high in May, fell to their lowest since March. The Pending Home Sales Index, a leading indicator of the housing market which measures housing contract activity, unexpectedly slipped 1.8% to 110.3[...]

MARKET TRENDS: Confidence Slides While Services Picks Up
Posted on July 29, 2015

Consumer confidence declined sharply in July, despite a decent rise in income levels and lower oil prices which boosts consumer's purchasing power. The drop in sentiments was led by a less optimistic outlook for the labor market, although the current conditions are favorable. The headline Index had earlier gained in June. Consumer’s short-term expectations weakened [...]

MARKET TRENDS: Unexpected Gains in Durable Goods Orders, Business Investments Still
Posted on July 28, 2015

Orders for durable goods, which include heavy and bulky goods such as trains, planes and automobiles, increased more than expected in June. The gain in durable goods orders was the largest since March, driven by a surge in demand for commercial aircraft. The growth in core orders, a gauge of the level of business activities [...]

MARKET TRENDS: Summary for the Week Beginning July 27, 2015
Posted on July 27, 2015

The week ahead will start off with data on durable goods orders and core durable goods orders which indicate the level of business activities in the U.S. Aircraft orders, particularly in the commercial sector, have remained low, leading to the recent volatility in the durable goods orders. Rising demand, coupled with a supply constraint in [...]

MARKET TRENDS: New Home Sales Down, Manufacturing Picks Up
Posted on July 24, 2015

Recent gains in the U.S. housing market were slightly offset with new single family home sales posting a larger than expected decline in June. New home sales dropped for the second consecutive month to its lowest level in the past seven months, while May's sales were also revised sharply lower. Sales of new single family [...]

MARKET TRENDS: Jobless Claims at Record Low, U.S. Economic Activity High
Posted on July 23, 2015

Initial jobless claims in the U.S. fell to a record low last week, boosting optimism on the growth of the economy and supporting the Fed short term interest rate hike this year. The number of individuals filing for unemployment benefits claims in the week ending July 18 fell by 26,000 to a seasonally adjusted 255,000. This [...]

MARKET TRENDS: Existing Home Sales at 8 Year High, Home Prices Surge Higher
Posted on July 22, 2015

The U.S. existing home sales touched the highest level in nearly 8.5 years in June, indicating a strengthening housing market. The robust home sales data that came in after a solid housing start and building permit data last week, is attributed to a firm job market, improved consumer income, and lower mortgage rates. A tightening[...]

MARKET TRENDS: Gold Prices Plummet to 5-Year Lows, Dollar Surges High
Posted on July 21, 2015

The price of gold dropped to a five-year low on Monday. Investors went bearish on precious metals in anticipation of the Fed short term interest rate hike that would push the U.S. dollar higher, and China declaring lower-than-expected gold reserves. Investors are selling off gold, which is considered the safest investment in times of crisis. [...]

MARKET TRENDS: Summary for the Week Beginning July 20, 2015
Posted on July 20, 2015

The week ahead will focus on housing data releases. The reports will include existing home sales on Wednesday, which are expected to have increased; however, new home sales on Friday are expected to have slowed. The housing market has shown strength recently, with demand having stabilized and housing price gains moderated. Housing should remain an [...]

MARKET TRENDS: Manufacturing Tumbles, Labor and Housing Steady
Posted on July 17, 2015

The Philly Fed Index of manufacturing activity fell sharply in the month of July, indicating a slowdown of factory activities in the mid-Atlantic. The U.S. manufacturing sector had little contribution to the expanding economy, as the sector was hit hard by the stronger dollar and lower oil prices. The Philly Fed Diffusion Index of current [...]