"It has nailed every recession since WWII without falsely predicting a downturn. If it is triggered, it may take a while for the Business Cycle Dating Committee of the National Bureau of Economic Research to confirm it, but we are already in a recession."
Sales of newly built single-family homes fell 17.6% in January to a seasonally adjusted annual rate of 587,000 from a downwardly revised December reading, said Jing Fu, senior director of forecasting and analysis at the National Association of Home Builders, in a brief. The pace of new home sales is down 11.3% from a year earlier.
During the 12 months ended in February, they ran 1% below the previous 12-month period. That's the 22nd-best performance among the states and tops the nation's 0.3% dip. Claims fell in 24 states, topped by Wisconsin's 16% dip, Indiana's 14%, and Massachusetts and Arizona, off 13%.
The S&P 500 has retreated after approaching the historical high established in October this year. As the index once again tested this price level, market sentiment turned more cautious, as investors require additional confirmation that earnings growth can be sustained, inflation will not re-accelerate, and the Federal Reserve truly has room to ease policy without reigniting inflationary pressures. With these conditions still unclear, profit-taking has begun to emerge, resulting in the current technical pullback that warrants attention.
Trading in forex markets is something that many business-minded investors turn to, not least of all because it aligns with their existing macroeconomic knowledge. The key point here is that no market exists in isolation because economic events in seemingly disconnected markets can influence any other market; it's just that the level of interconnectivity and resulting influence may not always be readily apparent.
The personal finance website evaluated all 50 states using 30 metrics, including depression rate, income growth, and unemployment rate, along with other factors that can contribute to overall happiness and satisfaction in the population. After crunching the numbers, Hawaii tops WalletHub's annual ranking of the happiest states in the country. According to WalletHub's data, Hawaii residents "have the longest life expectancy in the U.S., and nearly 72 percent of adults in the state report being active and productive on a daily basis."
In 1975, New York City ran out of money. For a decade it had managed to pay for its hundreds of thousands of city employees and robust social services by taking on billions of dollars in debt. But eventually investors were no longer willing to lend the city any more money. New York teetered on the edge of bankruptcy the city shuttered more than a dozen firehouses, teachers went on strike and garbage piled up in the streets.
Travel demand has soared back in the second half of the year, and that's good news for the economy at large, too, according to United Airlines' CEO. Scott Kirby told CNBC's "Squawk Box" on Tuesday that demand significantly improved at the beginning of July. "It was like a light switch coming on," he added. The summer travel period is key for airlines, while Labor Day and Thanksgiving are also significant revenue drivers.
June's Consumer Price Index (CPI) rose by 0.3% month-over-month and 2.7% year-over-year-higher than expected-while the Producer Price Index (PPI) unexpectedly stalled at 0.0%. These figures suggest that while price pressures remain on the consumer end, they may be easing on the production side.
The euro was at a three-week low against the US dollar as renewed trade tensions, fueled by President Trump's tariff announcement, weighed on the common currency.
