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May housing starts fell 5.5% to an annual rate of 1.09 million, the lowest in eight months, while economists surveyed had been expecting a 5.1% rise to 1.23 million.
READ MOREU.S. Treasury yields rose slightly on Thursday, with the 10-year benchmark note attempting to coming off its lowest level in 2017 after the Federal Reserve delivered its fourth interest-rate hike in about 18 months and outlined plans to unwind its $4.5 trillion balance sheet.
READ MOREThe import price index fell by 0.3% last month. It’s the second decline in three months and the steepest drop since February 2016.
READ MOREThe Philadelphia Fed manufacturing index in June retreated to a reading of 27.6 from 38.8 in May. Economists had expected a retreat because the May reading, next to February was the highest in more than 30 years.
READ MOREThe number of Americans applying for and receiving benefits after losing their jobs keeps going lower and lower. Initial jobless claims fell by 8,000 to 237,000 in the seven days stretching from June 4 to June 10.
READ MOREThe cost of goods and services for American consumers fell in May for the second time in three months as inflation continued to recede from a recent high-water mark. The consumer price index, or cost of living, fell by a seasonally adjusted 0.1% last month, the government said Wednesday.. A big drop in gasoline prices
READ MORESales at retailers nationwide sank 0.3% last month, the biggest drop since January 2016. The May sales report was generally weak across the board. Economists polled had forecast flat sales in May. The reversal last month unwound much of the strength in April when sales jumped 0.4%. April sales benefited from a late Easter holiday
READ MOREAt the conclusion of its two-day policy meeting, the Federal Open Market Committee moved its benchmark interest rate higher by 0.25 percentage point to between 1% and 1.25%, as had been widely expected on Wall Street.
READ MOREThe Fed still believe gradual rate hikes are warranted. We saw 12 out of 16 Fed members can see one more rate hikes this year. They did lower their inflation expectations and said they would begin to unwind their balance sheet in the 4th QTR. This is not a major shock to the system, but
READ MOREInitial jobless claims dropped by 10,000 to 245,000 in the seven days stretching from May 28 to June 3. Initial claims count people who apply for benefits after losing their jobs. New applications for benefits have registered less than 300,000 for 118 straight weeks, the longest run since the early 1970s. The more accurate four-week
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