Latest News and Economic Data
Existing Home Sales Rise Third Time in Four Months
Housing Update: Existing Home Sales
The National Association of Realtors reports that Existing Home Sales for the month of January rose by +4.3%. This marks the third gain in the past four months.
Read more...Investor's Intelligence Shows Bullish Sentiment Pulls Back
Sentiment Update: Investor’s Intelligence Poll
Investor’s Intelligence reports that Bullish Sentiment fell to 51.1 from 54.8% last week.
Read more...Eurozone Flash PMI's Suggest Recession May Be in Wings
Europe Update: Flash Manufacturing PMI Indices
The flash readings for February’s Markit’s Flash Purchasing Managers Indexes (PMI) for Europe were updated today and the numbers weren’t pretty. The data indicates that the European economy sank back into a contraction mode in February, which revives fears that the overall region will enter a recession in the near-term.
Read more...Greece Update: The Bailout Deal Finally Gets Done, But...
After months of tough negotiations and a fair amount of hand wringing over the potential consequences of a deal not getting done, European Finance Ministers agreed to a second bailout package for Greece early Tuesday morning.
Belgian Finance Minister Steven Vanackere told reporters Tuesday this was a deal that had to get done. “Everybody understood that this was the moment of truth,” he said.
Read more...LEI Up For Fourth Consecutive Month
Economic Update: US Leading Economic Index
The Conference Board reported that their Leading Economic Index rose +0.4% in January to a reading of 94.9, which was below the consensus for an increase of +0.5%.
Read more...CPI Report Shows Inflation Remains in Check
Economic Update: Consumer Price Index
The Consumer Price Index for January was up +0.2%, which was a tenth better than the consensus estimates for an increase of +0.3%.
Read more...Philly Fed Index Ahead of Expectations in February
Economic Update: Philadelphia Fed Index
The Philadelphia Fed Business Outlook Index was reported at +10.2 in February, which was above the consensus for a reading of +9.6 and last month’s reading of +7.3
Read more...PPI Shows Inflation At Producer Level Mixed
Economic Update: Producer Price Index
The Labor Department reported the Producer Price Index (an indication of inflation at the wholesale level) for January rose by +0.1%, which was below the consensus estimate for a rise of +0.4%.
Read more...Housing Starts and Building Permits Above Consensus
Economic Update: Housing Starts and Building Permits
Housing Starts rose in January to an annualized rate of 699K. This was above the consensus for 672K.
Read more...Weekly Jobless Claims Continue To Improve; Down 13K
Economic Update: Weekly Jobless Claims
Initial Claims for Unemployment Insurance for the week ending 2/11 fell by 13,000 to 348K.
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