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Saturday’s: 9AM 1590 AM/97.9 FM KVTA
Sunday’s: 7AM K-EARTH 101 FM
The economy in the Chicago region grew rapidly in July but cooled a bit from earlier in the summer, indicating that businesses are still confident despite political drama in Washington. The Chicago business barometer, or Chicago PMI, slipped to 58.9 in July from a three-year high of 65.7 in June, MNI Indicators said Monday. The
READ MOREHome-purchase contract signings jumped in June after three months of declines, another reflection of choppy momentum in the housing market. The pending home sales index from the National Association of Realtors rose 1.5% to a level of 110.2, the group said Monday. May’s reading was revised upward.
READ MOREMonetary policy must take a back seat to fiscal and regulatory measures in the struggle to get the global economy out of its low-interest-rate doldrums, said Federal Reserve Vice Chairman Stanley Fischer, on Monday. Interest rates are not only near historic lows in the U.S., but also in the euro area, the U.K. and Japan,
READ MOREThe Federal Reserve took a step toward reducing its $4.5 trillion balance sheet, as the Federal Open Market Committee statement said its previously announced drawdown program would begin “relatively soon” instead of simply “this year.” In a unanimous decision, the Fed as expected held its targeted federal funds rate range between 1% and 1.25%. The
READ MORESales of newly-constructed homes remained steady in June even as the market remains starved for inventory. New-home sales were at a seasonally adjusted annual rate of 610,000, the Commerce Department said Wednesday. That was 0.8% above May’s 605,000 rate, after a slight downward revision. June’s tally was 9.1% higher than a year ago.
READ MOREThe S&P CoreLogic Case-Shiller home price index maintained a 5.6 percent annual gain in May, even as a key composite declined. The index which covers home prices in 20 cities across the U.S. was up 5.7 percent in May, a decline from April and 0.1 percent below expectation.
READ MORETreasury yields across the curve continued to rise on Tuesday following two straight weeks of declines as traders sold government paper ahead of the Federal Reserve’s policy meeting on Wednesday, which could set the market up for the looming normalization of the central bank’s balance sheet. The 10-year benchmark yield added 3.6 basis points to
READ MOREThe Institute for Supply Management’s gauge of factory activity rose to 54.7 in December from 53.2 in November. Economists expected an increase to 53.6 for the month. Readings above 50 point to expansion, while those below indicate contraction.
READ MOREThe payroll processing firm ADP says 153,000 people were added to private sector payrolls in December. The estimate was for 170,000. November payrolls were revised lower by 1,000 to 215,000.
READ MOREWeekly jobless claims fell by 28,000 to 235,000 last week. That came in lower than the 260,000 estimate. The prior week was revised lower by 2,000 to 263,000
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